• Asia Marketing Journal
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• v.7 no.2
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• pp.47-69
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• 2005

With the explosive growth of mobile products industry, tons of newer versions of products are putting on the market. From the marketer's perspective, understanding consumers' replacement purchases, especially the replacement timing, is essential to product planning and selling. This study presents an approach to finding out factors influencing the timing of buyers' replacement purchases of cell phones, using duration analysis; a hazard function specification is applied to describe consumers' replacement timing decision. Based on the data collected from a mobile telecommunication company, five categories of factors have been inspected. These are consumer's innovative service usage, data service usage, voice service usage, participation in loyalty programs, and the demographic characteristics. The results of the study are as follows. Firstly, the positive coefficient of 'the number of related services used' suggests that the consumers who have more usage knowledge tend to replace faster. Secondly, customers participating in the membership service are positively associated with early replacement purchases. Lastly, younger customers(vs. older) and male(vs. female) customers turned out to replace cell phones earlier.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2006.11a
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• pp.161-164
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• 2006

The sales of consumer durables are composed of first time purchases and replacement purchases. Since the sales for most mature durable products are dominated by replacement sales, it is necessary to develop a model incorporating replacement component of sales in order to forecast total sales accurately. Several single product diffusion models incorporating replacement demand have been developed, but research addressing the multi-product diffusion models has not considered replacement sales. In this paper, we propose a model based on consumer choice behavior that simultaneously captures the diffusion and the replacement process for multi-product relationships. The proposed model enables the division of replacement sales into repurchase by previous users and transition purchase by users of different products. As a result, the model allows the partitioning of the total sales according to the customer groups (first-time buyers, repurchase buyers, and transition buyers), which allows companies to develop their production and marketing plans based on their customer mix. We apply the proposed model to the Korean automobile market, and compare the fitting and forecasting performance with other Bass-type multi-product models.

• Journal of Korean Society for Quality Management
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• v.12 no.2
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• pp.2-5
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• 1984

Periodic replacement model with minimal repair at failure is extended to the case where quantity purchases are possible. A recursive relationship among replacement intervals is obtained, which shows that replacement intervals are an increasing sequence due to the inventory carrying cost. Using the relationship, a procedure is given for determining how many units to purchase on each order and when to replace each unit after it has begun operating so as to minimize the total cost per unit time over an infinite time span. The problem can be simplified if equal replacement intervals are assumed, and the solution is very close to the solution of the unconstrained problem.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.20 no.43
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• pp.357-364
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• 1997

After the buyer purchases the product, the seller's role does not end. If the product fails to function properly before the end of the warranty period, the seller is responsible for its repair or replacement under the seller's warranty policy. There are two common types of warranty policies: the free replacement warranty and the rebate warranty. Under the free replacement warranty policy, replacement or repairs during the warranty period are provided by the seller free of charge to the buyer. Under the rebate warranty policy, a failed item is replaced by a new one or is repaired at a cost to the age of the failed item. The rebate warranty is most often used for items such as a battery or an automobile tire which wear out and must be replaced at failure. This paper proposes a easy way of estimating the warranty cost under the free replacement warranty policy assuming an exponential product failure function on repairable products.

• The Korean Journal of Food And Nutrition
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• v.36 no.6
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• pp.588-604
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• 2023

This study was conducted to investigate whether there were differences in eco-friendly food, home meal replacement (HMR) purchases, and eating-out behavior according to the level of agri-food consumer competence. The data for the study were extracted from main food consumers (n=3,321) in the 2022 Food Consumption Behavior Survey. The competence index was divided into awareness-attitude-practice items, and three groups were classified by competence level. The results showed an agri-food consumer competency score of 70.62, with the highest score for awareness (73.96), followed by practice (69.28) and attitude (66.18). The frequency of purchasing eco-friendly food was higher in the excellent group compared to other groups, and quality and price satisfaction was higher with higher competency (p<0.001). Regarding HMR, the results showed that the shortage group had the lowest HMR consumption rate, and satisfaction decreased as competence decreased (p<0.001). The main reason for eating-out was to enjoy food in all groups (59.0%), followed by a lack of cooking time in the excellent group (15.7%) and hassle with food preparation in the moderate and shortage groups (17.3%, 16.6%) (p<0.001). In short, agri-food consumption competency showed differences by contents and components, and differences in food purchases and eating-out behavior by competency level were found.

• Journal of Biosystems Engineering
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• v.39 no.4
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• pp.261-266
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• 2014

Purpose: This study was conducted to serve as a basis for strengthening policy support and R&D to improve the domestic and international competitiveness of domestic agricultural machinery. Levels of satisfaction among farmers and service engineers were analyzed regarding the current quality of agricultural machinery and the primary consumers' propensity for replacement purchases. Methods: A survey was carried out targeting farmers in over 150 townships and 300 villages in South Korea who collectively used 711 tractors, 286 rice transplanters, and 221 combine harvesters. Furthermore, agricultural machinery service engineers from 20 different after-services were surveyed regarding the quality of main components in domestic agricultural machinery versus those in imported agricultural machinery. Results: The farmers' overall quality satisfaction ratings for tractors, rice transplanters, and combine harvesters ranged from 57.1% to 62.6% in consideration of operating performance, failure rate, and durability. Compared with imports, satisfaction ratings for domestic agricultural machinery were 19.1%p to 38.1%p lower for quality. Regarding engines, transmissions, hydraulics, planters, reapers, threshers, and electrical components, only 5.3% to 25.0% of service engineers indicated that domestic agricultural machinery was higher in quality compared with imports. By contrast, 33.3% to 78.9% of those surveyed indicated that domestic components were lower in quality compared with imports. Intent to purchase replacement agricultural machinery at the end of their respective products' lifecycles was indicated that they planned to purchase imported tractors, rice transplanters, and combine harvesters comprised 25.2%, 46.9%, and 43.9%, respectively. This clearly shows that a very high percentage of farmers were satisfied, particularly for transplanters and combine harvesters. Conclusions: The level of desire for purchasing imported agricultural machinery was very high among those who expressed intent to purchase replacement machinery. Therefore, strong policy support and R&D for domestic agricultural machinery is critical for improving competitiveness on the domestic and foreign markets.

• Asian Journal of Innovation and Policy
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• v.7 no.1
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• pp.207-234
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• 2018

A manufacturer of a durable good typically purchases supplies, including parts for assembly - that are also useful for repairs - from independent "original equipment suppliers" with which it contracts. The manufacturer is a branded monopolist of its final assembled product. To put into effect also a monopoly of the replacement parts, it must stipulate in its arrangements with independent suppliers of the parts that they not supply such patented parts to any other buyer. Durable good owners would then only be able to obtain their requirements of replacement parts from the same company that supplied the durable. This would amount to a tie-in of replacement parts to the direct purchase of new durables. And that describes the apparently widespread practice of automobile manufacturers in India, as exposed in a recent case before the Competition Commission of India (Samsher Kataria v Honda Siel Cars India Limited and others). Here, I will argue that such tie-in enabled automotive manufacturers to more fully appropriate consumer surplus, which induced them to lower the price of new cars, sell more cars and also sell more repair parts. The tie-in expanded the auto parts industry and promoted new entry. The main restraint on expansion of India's automotive manufacturing is not monopoly. It is government protection in the form of tariffs on automobiles and auto parts.

• Korean journal of food and cookery science
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• v.32 no.4
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• pp.492-502
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• 2016

Purpose: The purposes of this study were to identify the segments of the Home Meal Replacement (HMR) market according to food-related lifestyle of Japanese consumers, and to investigate its demographic characteristics, the HMR purchase status and needs of new HMR product development. Methods: A total of 2,720 domestic consumers living in Japan were surveyed using a self-administered questionnaire and 488 responses were returned. Excluding responses with significant missing data, 467 responses were used for data analysis. Results: As a result of cluster analysis, three consumer segments were identified. The diet-highly concerned segment had the highest food-related lifestyle score, followed by the diet-moderately concerned segment, and the diet-unconcerned segment (p<0.001). A significant difference in demographic characteristics among the three segments was found with respect to the type of residence (p<0.05). There were significant differences in the main place (p<0.01) and average expense (p<0.001) for HMR purchases by food-related lifestyle segments. In the case of new HMR products that need further development, 'low-sodium products' had the highest demand scores in all three segments. In the diet-highly concerned segment, the mean scores of demand for new products were significantly higher than those in the other segments (p<0.001). Conclusion: The findings of this study can be used to develop new products for the Japanese' HMR market. The segments identified in this study should be updated and revised regularly to reflect changes in the characteristics of each food-related lifestyle segment.

• The Korean Journal of Food And Nutrition
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• v.34 no.6
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• pp.576-583
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• 2021

The purpose of this study was to estimate the influence of the determinants for home meal replacement (HMR) purchase frequency before and after COVID-19. Multinomial logistic regression was applied to the 2018~2020 Consumer Behavior Survey for Food data from the Korea Rural Economic Institute (KREI). Gender, age, number of households, monthly income, use of eating out, delivery and takeout order service, HMR food safety concern, the frequency of cooking at home, grocery shopping, and eating alone were applied as the explanatory variables to explain HMR purchase frequency. The results are as below. Compared to the previous year, the growth rate of HMR purchase frequency in 2020 was relatively high, indicating that the COVID-19 outbreak acted as a catalyst. Unlike in 2018 and 2019, there was no statistical difference in the HMR purchase frequency between single- and multi-person households in 2020, with indicating multi-person households began to emerge as one of the major HMR consumption groups. Unlike 2018, the 2020 HMR purchase frequency showed a statistically positive relationship with those of grocery shopping and eating alone. There was a positive relationship between the frequency of eating out/food delivery orders and HMR purchases. The more often cooking at home occurred, the less HMR food was purchased.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.53
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• pp.75-97
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• 2012

This study primarily concerns the transfer of letter of credit. A transferable credit is a credit that clearly specifies it is 'transferable' and may be made available in whole or in part to second beneficiary by the request of the first beneficiary. the transfer of the credit is available where the seller as a middleman in intermediate trades purchases from domestic and international supplier. The purpose of this study is to examine the transfer of letter of credit in the UCP600. Having recognized the differences, the study analyzes the transfer of letter of credit under the UCP600 in comparison to those under the ISP98. The ISP98, like the UCP600, stipulates for the requirement of transfer, the number of transfer, conditions of transfer, the replacement of the name of first beneficiary.