• The Research Journal of the Costume Culture
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• v.15 no.1 s.66
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• pp.1-12
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• 2007

The purpose of this study is to identify the SPA(Specialty store retailer of Private label Apparel) characteristics and product supply process of Korean casual apparel brands. The research was conducted by questionnaire surveys to 63 casual apparel brands. SPA characteristics of each brand were measured with four SPA characteristic indices: short product supply cycle, spacious retail floor, single brand retail store, and low product price compared to the quality of the product. The 63 apparel brands were grouped by SPA index score. The brands belonged to group H had high index score and brands in group L had low index score. The results of this study showed that the most of the casual apparel brands' products were sold at department stores, especially the brands belonged to group L greatly depended on department stores. Few apparel brands have spacious retail floor. The retail product price of the brands belonged to group H was low price while the product price of the brands belonged to group L was in the medium-high price. The supply time of the new products was short in general. The most brands supplied new styles to the retail floor within 1 to 3 weeks. The information technology was heavily used. The brands belonged to group H highly used information technology including bar codes system, pas data analysis, and inventory control system. The current style trends were analyzed with street fashion and feedback from the shop managers.

• Korea Journal of Hospital Management
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• v.8 no.1
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• pp.1-23
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• 2003

General drug prices involve three stages: shipment stage, wholesaler stage and retail stage. Policies on drug price differ from country to country. Shipment stage prices are tightly regulated in countries like France and Netherlands. They are free in only a minority of advanced countries, even if these include some major players such as the US, Germany and, in a very limited sense, Japan. The situation in the UK is very complex with a semi-free system, where drug companies are free to set their own prices but cannot exceed a predetermined profit ceiling. Mark-up at both wholesaler and retail stages is formally admitted in most countries observed. Apart from the general drug prices, reimbursement price of insured drugs has been major policy concerns. Most countries reviewed in this study has exerted some control over reimbursement prices, but differ both in the way how and in the extent to which prices are admitted or fixed. Price fixing has been used in France and Japan. Some countries have transformed their system over time, particularly to move to reference pricing in the last decade. This mechanism has empowered the customer, and improved price competition on the market. Referring to the drug price policies in the advanced countries, this study makes some suggestions for the redirection of Korean price policy for reimbursement drug in health insurance as follows: to match appropriate policy tools to each policy goal; to maximize market mechanism through effective reimbursement price fixing which admits mark-ups in wholesaler and retail prices; to introduce reference pricing system in order to redirect patient's demand with a financial incentive to choose the best-priced drugs and to save the finance of health insurance; and to strengthen surveillance and monitoring mechanism in the drug market.

• Journal of the Korean Society of Clothing and Textiles
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• v.32 no.8
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• pp.1274-1285
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• 2008

The purpose of this study is to investigate influences of perceived price dimensions and store attributes on store choice behavior. Three major retail formats, department store, discount store, and internet shopping mall in retail industry were compared with respect to store attributes and intention to purchase fashion products. Data were obtained from 427 consumers aged 25-49 years old. The results were as follows. (1) Multidimensional aspects of the price construct were identified: price-quality schema, prestige sensitivity, price mavenism, value consciousness, price consciousness, and sales proneness. (2) Store attributes included product assortment, quality per price (Q/P), service, and symbolic image in general. However, store attribute factors of three retail formats consisted of slightly different items. Department stores presented the highest level of mean scores on product quality, customer service, and symbolic images, while internet mall exhibited highest on product variety, information comparison, and quality per price. (3) Respondents presented high level of intention to purchase fashion products at internet mall, department store, and discount store in that order. (4) Purchase intention at department store was predicted by Q/P, service, symbolic image, prestige sensitivity, product assortment, clothing consumption, and age in order. Purchase intention at discount store was influenced by assortment & Q/P, symbolic image, clothing consumption, and sales proneness, whereas internet mall was predicted by product assortment, Q/P, service, price mavenism, and price-quality schema.

• Fashion & Textile Research Journal
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• v.11 no.3
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• pp.390-398
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• 2009

The research purposes are (1) to identify male market segmentation based on fashion involvement, (2) to compare purchase intention of clothing items and store attribute evaluation at two different retail formats, department store and internet shopping mall, and (3) to compare the influence of store attributes on intention to purchase fashion products at two retail formats among segments. The data are collected from 275 male consumers through internet research institute. The major results of this study are as follows. First, the dimensions of fashion involvement are identified into external involvement and internal involvement. Male respondents present high mean scores on external involvement items, emphasizing social roles of clothing. Two involvement factors generate three market segments: high involvement group(32.4%), external involvement group(44%), and low involvement group(23.6%). Second, high involvement group shows higher mean scores on purchase intention of seven clothing items than low involvement group. Third, department store attributes are identified into four factors, product assortment, quality per price, service, and symbolic image, while internet shopping mall includes assortment & convenience, quality per price, and symbolic image. High involvement group again presents higher mean scores on each retail attribute factor than low involvement group. Finally, quality per price is the most significant variable to explain the purchase intention at department store among three market segment, whereas assortment & convenience and quality per price are important predictors to increase purchase intention at internet shopping mall. However, relative importance of each attribute variable is different among three involvement groups.

• Journal of the Korean Society of Clothing and Textiles
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• v.24 no.3
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• pp.323-334
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• 2000

The purpose of this study was to develop service quality dimensions for fashion retail stores and to identify significant service quality dimensions influencing customers satisfaction for each fashion retail store. 687 young adults completed written questionnaires consisting of items related to service quality. For analysis of data, confirmatory factor analysis, one-way ANOVA, scheffe test, and stepwise regression analysis were applied. The results were as follows: 1. The service quality dimensions of fashion retail stores were tangibles, reliability, responsiveness, assurance, empathy, fashionability and variety, price, convenience, merchandise quality and credit card usability. Among those 10 main dimensions of service quality were grouped as experience attributes and search attributes. 2. In examination of the highest valuable service quality dimension based on the types of stores, imported fashion stores were evaluated the highest in terms of all factors except price, tangibles and credit card usability. 3. To predict consumer satisfaction, service quality dimensions such as reliability, responsiveness, assurance, empathy, fashionability/variety, price, convenience, merchandise quality and credit card usability should be considered.

• The Journal of Fisheries Business Administration
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• v.40 no.2
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• pp.105-126
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• 2009

This study applies the cointegration theory to analyse the causality of the prices between imported fisheries and domestic fisheries in distribution channel. We've focused on the prices of import, wholesale and retail about the frozen Alaska pollack, hairtail and croaker which take up high portion and are popular among most of the consumers. In process of analysis, the unit root test was adopted to find the stability of time series data prior to the cointegration test. If the time series data was found as stable one in unit root test, we should analyse the VAR model. If unstable, the cointegratioin test was adopeted to find the long-run equilibrium relationship between the data. When the long-run equilibrium relationship was found among the price of the import, wholesale and retail price, the VECM model was adoped. If not, the differenced VAR model was adopted. The main findings of this study could be summarized as follows ; First, according to the result of the analysis on VAR model, time series data of frozen Alaska pollack was found as stable and has causality relationship and close effect was existing among the import, wholesale and retail price. Second, the data of frozen hairtail was found as an unstable one in unit root test and the result of cointegration test showed the long-run equilibrium relationship at lag 1. From the results of VECM model, we could find that the coefficient of error correction is effective, and the sign is negative(-). It means that the existence of adjustment tendency to long-run equilibrium after a short-run deviation. But the short-run causality of the prices were not found except the price of wholesale. Third, according to the results of differenced VAR model, data from frozen croaker did not have the stability and long-run equilibrium. Moreover, it was found that the import price has a weak causality on the retail price. Because of having difficulties in collecting data, the result of this paper could not explain the relationship among the prices of import, wholesale and retail perfectly. However, it more or less contributed to a long-lasted debate on the direction of causality of price-setting in academic research and provided a useful guide for the policy makers in charge of the price-setting of fisheries products as well.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2007.11a
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• pp.3-6
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• 2007

In the traditional inventory problem, market parameters such as demand and selling price are exogenous. But incorporating these factors into the model can provide an opportunity for increasing the total profit. So we investigate the joint price-inventory policy in a supply chain consisting of a single retailer and a single manufacturer. Demand at the retailer depends on the retail price. The retailer and the manufacturer cooperate closely each other to maximize overall profit of the supply chain. The mathematical model is presented and the solution procedure is developed in order to jointly determine the optimal policy including the retail price, the production lot sizes, and the delivery frequency from the manufacturer to the retailer.

• Journal of Distribution Science
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• v.17 no.6
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• pp.25-32
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• 2019

Purpose - Pricing strategy is a very effective marketing activity and has a significant impact on consumer purchasing decisions. Numerous studies have investigated the effects of various pricing strategies. However, tensile price claims have received little attention in the literature. It is thus necessary to investigate how different forms of tensile price claims affect consumer response. This study uses the consumer self-confidence level as a moderator of consumer behavior. Research Research design, data, and methodology - This study investigates the effect of four different tensile price claims (i.e., maximum discount, minimum discount, average discount, and range discount advertisements) on consumers' perceived savings. A survey was conducted to collect data for testing hypotheses. Results - The results show that consumers with high levels of self-confidence perceive more savings for maximum discount advertisements than minimum discount advertisements, for range discount advertisements than average discount advertisements. On the other hand, consumers with low self-confidence feel more perceived savings for average discount advertisements than range discount advertisement. Conclusions - The results of this study provide a new insight into the effectiveness of tensile pricing based on consumer self-confidence levels, which may provide valuable theoretical and practical applications.

• Journal of Distribution Science
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• v.17 no.2
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• pp.5-11
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• 2019

Purpose - This paper examines how corporate social responsibility of the Korean retail industry affects the degree of asymmetric information. Recent theories predict that a firm's active engagement in socially responsible activities lowers the degree of asymmetric information of the firm. Research design, data, and methodology - This paper uses the sum of environmental and social scores (ES), published by the Korean Corporate Governance Service in order to proxy the degree of socially responsible management practices of Korean retail firms. This paper uses the ordinary least square method to investigate the above predictions. The publicly traded Korea retail firms listed in the Korean Exchange are analyzed from 2011 to 2016. To measure the degree of asymmetric information, this paper adopts the analyst dispersion and price impact measures. Results - This paper shows that the ES score has significantly positive relationships with these two measures of information asymmetry. The environmental score seems to increase the analyst dispersion measure and the social score appears to raise the price impact measure mores significantly. Conclusions - The results do not support the prior theory expecting a negative relationship between corporate social responsibility and the degree of asymmetric information. Environmental and social scores are found to affect the measures of information asymmetry differently.

• Journal of Distribution Science
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• v.16 no.12
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• pp.13-21
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• 2018

Purpose - Because it is not possible to assess the quality of service products before experiencing them, one feature of a service product is quality uncertainty; hence consumers may react sensitively to pricing. It is necessary to investigate how different pricing strategies affect consumer purchase intention depending on the level of service quality uncertainty. Research design, data, and methodology - The authors have investigated the potential impact of the level of service quality uncertainty, price discount rate and presentation method on consumer purchase intention. A play was selected as an experimental stimulus, and Vietnamese consumers were surveyed to verify the hypotheses. Results - When uncertainty regarding service quality is low, consumer purchase intention is higher when the price discount rate is high or when the price is low. When uncertainty regarding service quality is high, if the normal price, discount rate, and discounted price are presented simultaneously, consumer purchase intention is higher when the price discount rate is low, but when only the discounted price is presented, purchase intention is higher when the price discount rate is high. Conclusions - The results of this study can provide valuable practical implications for pricing for service products with quality uncertainty.