• Title/Summary/Keyword: second order effects

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An Exploratory Empirical Study on Shopping Choice in Retail Channels by the Selective Characteristics of Foods (상품 선택 특성에 따른 쇼핑채널 선택에 관한 연구: 식품 MD를 중심으로)

  • Ha, Kwang-Ok;Lee, Jung-Hee
    • The Journal of Small Business Innovation
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    • v.20 no.1
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    • pp.35-46
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    • 2017
  • The purpose of this study is to obtain the implications for establishing a marketing strategy for retailers by analyzing whether the consumer's preference for products (food) is influenced by on-line, off-line, and omni-channel preferences. The research model consisted of the effects of consumers' food selection characteristics on business preference and omni channel preference. The results of analysis based on 477 questionnaires are summarized as follows. First, food purchasing characteristics that utilize the seven characteristics of (1) freshness of food, (2) taste, (3) quality and safety, (4) tasting, (5) food function and information, (6) country of origin, and (7) brand loyalty, has various effects on types of business preference, omni-channel preference. The adopted hypotheses were selected in order of brand loyalty (5 times), freshness (3 times), tasting (3 times), and origin (1 time). The selective attributes on foods are: (1) what kind of brand, (2) how good the freshness is, (3) tasting. (4) The country of origin is to be compressed. Actually consumers seem to utilize only the core selective factors that are appropriate to the characteristics of the distribution channel rather than all of them in the shopping of the food, and there is three characteristics on Convenience Store and only one or two factors in the other types of business. Second, in the analysis of the omni-channel preference analysis, food selection characteristics has been shown to have a limited effect, which is attributed to the fact that the consumer has not yet understood the concept of omni channel. Third, the results of this study suggest that there is a need to reflect the selection characteristics of foods that have diverse influences by business type in the marketing strategies. Because consumers make reasonable consumption to use both on-line and off-line simultaneously, consumers who use Omni Channel focus on quality and safety of food, identify products through tasting, pursue brands that can trust anywhere. Customers who pursue rationality will have a high preference for using Omni Channel. Product choice characteristic has significant effect on omni-channel preference. For a few years, omni-channel strategy of retailers meets with a difficulty. This study make a first attempt to study omni-channel preference changing retailing paradigm.

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Acute Effects of Ethanol on Blood Pressure and Renal Function in Rat (Ethanol 급성투여(急性投與)가 흰쥐의 혈압(血壓)과 신기능(腎機能)에 미치는 영향(影響))

  • Bae, Gui-Sook;Park, Jae-Sik;Lee, Won-Jung
    • The Korean Journal of Physiology
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    • v.15 no.2
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    • pp.103-109
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    • 1981
  • In order to determine the dose-response relationship of ethanol on blood pressure and renal function, 2 doses of ethanol were intubated into albino rats. For a direct measurement of arterial blood pressure, a polyethylene catheter(PE 10) was implanted in the abdominal aorta, and the other end of the catheter was pulled out of the back of the neck. The experiment was conducted after the rats recovered from the surgery. After emptying their bladders, the rats were placed in a metabolism cage. Mean arterial pressure (MAP) was measured and arterial blood samples were collected through the catheter. Following the collection of the control urine sample, 1 ml of 10 g% (low dose), or 30 g% (high dose) of ethanol/100 g BW was intubated. 1 ml of water/100 g BW was intubated into the control group. MAP and blood samples were taken every hour, and urine samples were collected every 90 min for 3 hours. Blood alcohol concentrations reached a peak at 1 hour (low dose: $105.0{\pm}7.5$, high dose: $214.7{\pm}20.2\;mg%$) and decreased linearly thereafter. Following alcohol ingestion, MAP began to decrease at 15 min and remained at a significantly low level thoughout the 3 hours experimental period(low dose: $112{\pm}2{\rightarrow}102{\pm}4$, high dose: $117{\pm}2{\rightarrow}100{\pm}8\;mmHg$). Urine Flow increased markedly during the first 90 min of ethanol ingestion (low dose: $0.88{\pm}0.20{\rightarrow}1.04{\pm}0.22$, high dose: $0.56{\pm}0.11{\rightarrow}1.35{\pm}0.18\;ml/1.5\;hr$) and decreased during the second 90 min period(low dose: $0.25{\pm}0.06$, high dose: $0.22{\pm}0.06\;ml/1.5\;hr$). Urine flow of the control group decreased gradually during the experiment $(0.88{\pm}0.10{\longrightarrow}0.59{\pm}0.09{\rightarrow}0.45{\pm}0.09\;ml/1.5\;hr)$. These results indicate that the blood-pressure-lowering and diuretic effects of ethanol are dose-related: higher doses of ethanol produce a greater decrease in blood pressure and greater diuresis.

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The Economic Effects of Tax Incentives for Housing Owners: An Overview and Policy Implications (주택소유자(住宅所有者)에 대한 조세감면(租稅減免)의 경제적(經濟的) 효과(效果) : 기존연구(旣存硏究)의 개관(槪觀) 및 정책시사점(政策示唆點))

  • Kim, Myong-sook
    • KDI Journal of Economic Policy
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    • v.12 no.2
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    • pp.135-149
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    • 1990
  • Housing owners in Korea have a variety of tax advantages such as income tax exemption for the imputed rent of owner-occupied housing, exemption from the capital gains tax and deduction of the estate tax for one-house households. These tax reliefs for housing owners not only conflict with the principle of horizontal and vertical equity, but also lead to resource misallocation by distorting the housing market, and thus bring about regressive distribution effects. Particularly in the case of Korea with its imperfect capital market, these measures exacerbate the inter-class inequality of housing ownership as well as inequalities in wealth, by causing the affluent to demand needlessly large housing, while the poor and young experience difficulties in purchasing residential properties. Therefore, the Korean tax system must be altered as follows in order to disadvantage owner-occupiers, especially those owners of luxury housing. These alterations will promote housing-ownership, tax burden equity, efficiency of resource allocation, as well as the desirable distribution of income. First, income tax deductions for the rent payments of tenants are recommended. Ideally, the way of recovering the fiscal equivalence between the owner-occupiers and tenants is to levy an income tax on the former's imputed rents, and if necessary to give them tax credits. This, however, would be very difficult from a practical viewpoint, because the general public may perceive the concept of "imputed rent" as cumbersome. Computing the imputed rent also entails administrative costs, rendering quite reasonable, the continued exemption of imputed rent from taxation with the simultaneous deduction in the income tax for tenants. This would further enhance the administrative efficiency of income tax collection by easing assessment of the landlord's income. Second, a capital gains tax should be levied on the one-house household, except with the postponement of payments in the case that the seller purchases higher priced property. Exemption of the capital gains tax for the one-house household favors those who have more expensive housing, providing an incentive to the rich to hold even larger residences, and to the constructors to build more luxurious housing to meet the demand. So it is not desirable to sustain the current one-house household exemption while merely supplementing it with fastidious measures. Rather, the rule must be abolished completely with the concurrent reform of the deduction system and lowering of the tax rate, measures which the author believes will help optimize the capital gains tax incidence. Finally, discontinuation of the housing exemption for the heir is suggested. Consequent increases in the tax burden of the middle class could be mitigated by a reduction in the rate. This applies to the following specific exemptions as well, namely, for farm lands, meadows, woods, business fields-to foster horizontal equity, while denying speculation on land that leads to a loss in allocative efficiency. Moreover, imperfections in the Korean capital market have disallowed the provision of long term credit for housing seekers. Remedying these problems is essential to the promotion of greater housing ownership by the low and middle income classes. It is also certain that a government subsidy be focused on the poorest of the poor who cannot afford even to think of owning a housing.

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The Effects of a Teacher Training Program for Elementary and Middle School Teachers: Focusing on International School for Geoscience Resources (초·중등 교원연수 프로그램의 효과 분석: 국제지질자원인재개발센터를 중심으로)

  • Lee, Yun Su;Kim, Hyoungbum
    • Journal of the Korean Society of Earth Science Education
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    • v.12 no.1
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    • pp.82-93
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    • 2019
  • The purpose of this study is to analyze the results of satisfaction for learning eco-system on the teacher training program conducted at the IS-Geo (International School for Geoscience Resources) which is KIGAM (Korea Institute of Geoscience and Mineral Resources), and to determine the satisfaction and educational effects of the teacher training programs on elementary and secondary teachers. And then, to suggest improvement points in the future operation of the teacher training program at the IS-Geo. Therefore, we conducted questionnaire of satisfaction for learning eco-system based on the data collected by a survey of 98 elementary and secondary teachers who participated in the teacher training program at the IS-Geo, from July 2017 to August 2018. The research results are as follows. First, the results of satisfaction for learning eco-system showed high values of 4.58 or higher in both the elementary and secondary programs, and the teacher training program conducted by the IS-Geo had a positive effect on the training participants. Second, internal factors indicating learning motivation and learning development were elementary teacher training 4.70 and secondary teacher training 4.64, and it is necessary to develop training contents and programs by classifying them into majors other than the earth science department. Third, intermediate factors indicating contents of education and learning curriculum were 4.67 for an elementary teacher training program and 4.72 for secondary teacher training program. In addition, in order to operate the teacher training program according to the purpose of science and technology culture, it is necessary to develop a teaching-learning model and to improve the quality of teaching. Fourth, external factors indicating learner support and quality of instructors were 4.83 for an elementary teacher training program and 4.72 for a secondary teacher training program. In particular, it is necessary to develop teaching materials that can be used immediately in school classes and can generate interest.

A Structural Equation Modeling of Internalizing Problem Behaviors of Korean Chinese'left-behind'Children in China (중국 조선족 유수아동의 내재화 문제행동에 관한 구조모형)

  • Hyun, Mina;Park, Jisun;Shin, Dong-Myeon
    • 한국사회정책
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    • v.24 no.1
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    • pp.153-185
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    • 2017
  • The purpose of this study is to investigate the actual conditions and causes of the problem behaviors of Korean Chinese'left-behind'children in China in order to propose a support system to prevent problem behaviors of them. For this purpose, a questionnaire survey was conducted on 399 children who attend at three Korean Chines schools in Yonbian in China. The questionnaire consisted of general characteristics, internalizing problem behavior, social support, self-esteem, and self-resilience. This paper analysed the survey data by employing one-way ANOVA and a structural equation modeling. It verified if there is significant difference in internalizing problem behaviour, self-esteem, self-resilience, and social support between left-behind children's group and non left-behind children's group. It also identified a structural causal relationship and direct or indirect effects among problematic behaviour, self-esteem, self-resilience, and social support. The results of the analysis are as follows. First, there was a statistically significant difference in the social withdrawal and depression of internalizing problem behaviors between left-behind children's group and non left-behind children's group. Second, the left-behind children's group showed no significant difference in self-resilience and social support compared to non left-behind children's group, but showed a significant difference in self-esteem. In the positive self- esteem factor, non left-behind children's group showed much higher score whereas left-behind children's group was higher in the negative self-esteem factor. Third, social support for left-behind children's group has a statistically significant direct negative effect on internalizing problem behaviors, and indirectly negative effects on problem behavior through self-resilience. These results suggest the necessity of establishing a social support system for mitigating and preventing problem behaviors and the necessity of preparing measures to improve self-resilience. Based on the results of the study, we discussed how to establish a social support system in China to mitigate internalizing problem behaviors of Korean Chinese left-behind children.

A Comparison of the Effects between Eye-Mask and Light-Off Conditions on Psychiatric Patient Sleep (야간 조명 하 안대와 소등의 수면에 대한 효과 비교)

  • Shin, Juyong;Lim, Kyoung-Ok;Cho, Seongnam;Jang, Soyeong;Cha, Seung-Min;Han, Songyi;Kim, Moojin
    • Sleep Medicine and Psychophysiology
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    • v.28 no.1
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    • pp.27-33
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    • 2021
  • Objectives: The purpose of this study is to investigate the difference in the effects of eye-mask and light-off on sleep status according to a commercial fitness tracker and a sleep diary of psychiatric in-patients in correctional facilities where nocturnal light is compulsory. Methods: This study was conducted over 3 consecutive nights. In-patients of the National Forensic Psychiatric Hospital (n = 29) were assigned random subject numbers and slept as usual in the light-on condition on the first night. The subjects slept with eye-masks in the light-on condition on another night and without an eye-mask in the light-off condition on the other night. Subjects were asked to sleep wearing a commercial fitness tracker and to keep a sleep diary. The order of these changes in bedroom lighting condition on the second and third nights was assigned randomly to participants. Results: In comparison of the sleep variables between the light-on condition and the eye-mask condition, the Wakefullness After Sleep Onset (WASO) was shorter and sleep satisfaction was higher in the latter.(respectively, Z = 3.66, p < 0.017 ; Z = 2.69, p < 0.017) In comparison of the sleep variables between the light-on and light-off conditions, the WASO was shorter and sleep efficiency and sleep satisfaction were higher in the latter (respectively, Z = 2.40, p < 0.017 ; Z = 3.02, p < 0.017 ; Z = 3.88, p < 0.017). However, there were no differences in the sleep variables between the eye-mask condition and the light-off condition. Conclusion: Subjective improvements in sleep variables were noted in sleep diaries of institutionalized psychiatric patients under either the 'eye-mask' or 'light-off' condition. However, there were no significant differences between the 'eye-mask' and 'light-off' conditions. Therefore, we suggest that psychiatric patients in correctional facilities use eye-masks when sleeping.

Effects of Emotional Regulation Processes on Adaptive Selling Behavior and Sales Performance

  • Kim, Joonhwan;Lee, Sungho;Shin, Dongwoo;Song, Ji-Hee
    • Asia Marketing Journal
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    • v.16 no.1
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    • pp.71-100
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    • 2014
  • While the role of emotional antecedents of effective selling behavior would be important, the issue has not been fully addressed in the sales literature. To fill this gap, we conceptualize and empirically examine the relationships among salesperson's emotional regulation processes such as emotional intelligence (EI) and emotional labor (EL), effective selling behavior, and sales performance on the basis of educational, occupational, social psychology literature and marketing literature (e.g., Henning-Thurau, Groth, Paul, and Gremler 2006; Kidwell et al. 2011; Liu et al. 2008; Mayer, Salovey, and Caruso 2008). First, salesperson's EI is defined as his or her capability that enables correct perceptions about emotional situations in sales interactions. The EI is expected to work as psychological resources for different types of EL (i.e., deep acting and surface acting) to be performed by salesperson as emotional expression strategies (e.g., Lie et al. 2008). It is, then, expected that the features of EL selected by the salesperson would lead to different levels of adaptive selling behavior (ASB) and thereby sales performance (Monaghan 2006). Further, given that salesperson's customer orientation (CO) is found to be an important correlate of ASB (Franke and Park 2006), it is expected that CO would moderate the relationship between EL and ASB (Rozell, Pettijohn, and Parker 2004). Hence, this research attempts to shed additional light on emotionally-driven (EL) as well as cognitively-driven (CO) antecedents of ASB (Frank and Park 2006). The findings of the survey research, done with 336 salespersons in insurance and financial companies, are summarized as follows. First, salespersons with a high level of EI are found to use both deep acting (regulating the emotions themselves) and surface acting (controlling only emotional expressions) in a versatile way, when implementing EL. Second, the more the salesperson performs deep acting, the more he or she shows ASB. It is, then, important for salespersons to use deep acting more frequently in the EL process in order to enhance the quality of interacting with customers through ASB. On the other hand, the salesperson's surface acting did not have a significant relationship with ASB. Moreover, CO was found to moderate the relationship between the salesperson's deep acting and ASB. That is, the context of high CO culture and individual salesperson's deep acting would synergistically make the selling efforts adaptive to customer preferences. Conceptualizing and empirically verifying the antecedent roles of important emotional constructs such as EI and EL in salesperson's effective selling behavior (ASB) and sales performance is a major theoretical contribution in the sales literature. Managerially, this research provides a deeper understanding on the nature of tasks performed by salespersons in service industries and a few guidelines for managing the sales force. First, sales organizations had better consciously assess EI capacity in the selection and nurturing processes of salespersons, given that EI can efficiently drive EL and the resulting effective selling behavior and performance. Further, the concept of EL could provide a framework to understand the salespersons' emotional experiences in depth. Especially, sales organizations may well think over how to develop deep acting capabilities of their sales representatives. In this direction, the training on deep acting strategies would be an essential task for improving effective selling behavior and performance of salespersons. This kind of training had better incorporate the perspectives of customers such that many customers can actually discern whether salespersons are doing either surface acting or deep acting. Finally, based on the synergistic effects of deep acting and CO culture, how to build and sustain CO is always an ever-important task in sales organizations. While the prior sales literature has emphasized the process and structure of highly customer-oriented sales organization, our research not only corroborates the important aspects of customer-oriented sales organization, but also adds the important dimension of competent sales representatives who can resonate with customers by deep acting for sales excellence.

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A Study on Factors Affecting BigData Acceptance Intention of Agricultural Enterprises (농업 관련 기업의 빅데이터 수용 의도에 미치는 영향요인 연구)

  • Ryu, GaHyun;Heo, Chul-Moo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.17 no.1
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    • pp.157-175
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    • 2022
  • At this moment, a paradigm shift is taking place across all sectors of society for the transition movements to the digital economy. Various movements are taking place in the global agricultural industry to achieve innovative growth using big data which is a key resource of the 4th industrial revolution. Although the government is making various attempts to promote the use of big data, the movement of the agricultural industry as a key player in the use of big data, is still insufficient. Therefore, in this study, effects of performance expectations, effort expectations, social impact, facilitation conditions, based on the Unified Theory of Acceptance and Use of Technology(UTAUT), and innovation tendencies on the acceptance intention of big data were analyzed using the economic and practical benefits that can be obtained from the use of big data for agricultural-related companies as moderating variables. 333 questionnaires collected from agricultural-related companies were used for empirical analysis. The analysis results using SPSS v22.0 and Process macro v3.4 were found to have a significant positive (+) effect on the intention to accept big data by effort expectations, social impact, facilitation conditions, and innovation tendencies. However, it was found that the effect of performance expectations on acceptance intention was insignificant, with social impact having the greatest influence on acceptance intention and innovation tendency the least. Moderating effects of economic benefit and practical benefit between effort expectation and acceptance intention, moderating effect of practical benefit between social impact and acceptance intention, and moderating effect of economic benefit and practical benefit between facilitation condition and acceptance intention were found to be significant. On the other hand, it was found that economic benefits and practical benefits did not moderate the magnitude of the influence of performance expectations and innovation tendency on acceptance intention. These results suggest the following implications. First, in order to promote the use of big data by companies, the government needs to establish a policy to support the use of big data tailored to companies. Significant results can only be achieved when corporate members form a correct understanding and consensus on the use of big data. Second, it is necessary to establish and implement a platform specialized for agricultural data which can support standardized linkage between diverse agricultural big data, and support for a unified path for data access. Building such a platform will be able to advance the industry by forming an independent cooperative relationship between companies. Finally, the limitations of this study and follow-up tasks are presented.

A Study on the Effects of Entrepreneurial Marketing Orientation on the Management Performance: Mediated Effect of Organizational Marketing Capabilities (창업자의 앙트레프레니얼 마케팅 지향성이 경영성과에 미치는 영향: 조직내 마케팅역량의 매개효과)

  • Byun, Hong Joo;Byun, Chung Gyu;Ha, Hwan Ho
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.17 no.4
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    • pp.87-100
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    • 2022
  • Early start-up companies have an inherent limitation of lack of resources. Despite these limitations, in order to survive, the entrepreneur's personal ability to efficiently use limited resources is required. In the marketing field, various studies are needed to reduce the business failure rate through establishing growth strategies and innovation. Accordingly, it is necessary to apply the concept of entrepreneurial marketing, which has been researched and developed overseas for 30 years, to fit the domestic reality. According to the flow of this study, an empirical study should be preceded to clarify the influence relationship between entrepreneurial marketing orientation, marketing competency, and management performance, along with a theoretical theorem on entrepreneurial marketing that is suitable for early start-ups and small and medium-sized enterprises(SMEs) and can respond innovatively to changes. The establishment of entrepreneurial marketing orientation and the processes from which this concept leads to business performance through the organization's marketing capabilities and its effects will be empirically verified. For an empirical survey, a survey was conducted on founders of 220 companies, and path analysis using structural equations was used for hypothesis verification. The findings are as follows. First, it was found that the entrepreneurial marketing orientation had a positive effect on both the organization's marketing capabilities and management performance. Second, it was found that the organization's marketing capabilities also had a positive effect on management performance. Third, as a result of empirical analysis of the mediating effect of the organization's marketing capabilities on the relationship between entrepreneurial marketing orientation and management performance, it was found that marketing capabilities showed a greater mediating effect on non-financial performance than financial performance. On the other hand, it was confirmed that marketing performance had a stronger mediating effect on financial performance than non-financial performance. By confirming and presenting the concept and constituent factors of entrepreneurial marketing orientation of domestic start-ups, which were academic gaps for the purpose of this paper, the academic research is differentiated in that they were verified as six components of entrepreneurial marketing. The practical implications of the research results will be that the entrepreneurial marketing-oriented mindset of small and medium-sized companies will optimize market analysis capabilities, network with various stakeholders, and increase the organization's ability to demonstrate marketing capabilities.

Effects of Reward Programs on Brand Loyalty in Online Shopping Contexts (인터넷쇼핑 상황에서 보상프로그램이 브랜드충성도에 미치는 영향에 관한 연구)

  • Kim, Ji-Hern;Kang, Hyunmo;Munkhbazar, M.
    • Asia Marketing Journal
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    • v.14 no.2
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    • pp.39-63
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    • 2012
  • Previous studies of reward programs have generally focused on designing the best programs for consumers and suggested that consumers' perception of the value of reward programs can vary according to the type of reward program (e.g., hedonic vs. utilitarian and direct vs. indirect) and its timing (e.g., immediate vs. delayed). These studies have typically assumed that consumers' preference for reward programs has a positive effect on brand loyalty. However, Dowling and Uncles (1997) pointed out that this preference does not necessarily foster brand loyalty. In this regard, the present study verifies this assumption by examining the effects of consumers' perception of the value of reward programs on their brand loyalty. Although reward programs are widely used by online shopping malls, most studies have examined the conditions under which consumers are most likely to value loyalty programs in the context of offline shopping. In the context of online shopping, however, consumers' preferences may have little effect on their brand loyalty because they have more opportunities for comparing diverse reward programs offered by many online shopping malls. That is, in online shopping, finding attractive reward programs may require little effort on the part of consumers, who are likely to switch to other online shopping malls. Accordingly, this study empirically examines whether consumers' perception of the value of reward programs influences their brand loyalty in the context of online shopping. Meanwhile, consumers seek utilitarian and/or hedonic value from their online shopping activity(Jones et al., 2006; Barbin et al., 1994). They visit online shopping malls to buy something necessary (utilitarian value) and/or enjoy the process of shopping itself (hedonic value). In this sense, reward programs may reinforce utilitarian as well as hedonic value, and their effect may vary according to the type of reward (utilitarian vs. hedonic). According to Chaudhuri and Holbrook (2001), consumers' perception of the value of a brand can influence their brand loyalty through brand trust and affect. Utilitarian value influences brand loyalty through brand trust, whereas hedonic value influences it through brand affect. This indicates that the effect of this perception on brand trust or affect may be moderated by the type of reward program. Specifically, this perception may have a greater effect on brand trust for utilitarian reward programs than for hedonic ones, whereas the opposite may be true for brand affect. Given the above discussion, the present study is conducted with three objectives in order to provide practical implications for online shopping malls to strategically use reward program for establishing profitable relationship with customers. First, the present study examines whether reward programs can be an effective marketing tool for increasing brand loyalty in the context of online shopping. Second, it investigates the paths through which consumers' perception of the value of reward programs influences their brand loyalty. Third, it analyzes the effects of this perception on brand trust and affect by considering the type of reward program as a moderator. This study suggests and empirically analyzes a new research model for examining how consumers' perception of the value of reward programs influences their brand loyalty in the context of online shopping. The model postulates the following 10 hypotheses about the structural relationships between five constructs: (H1) Consumers' perception of the value of reward programs has a positive effect on their program loyalty; (H2) Program loyalty has a positive effect on brand loyalty; (H3) Consumers' perception of the value of reward programs has a positive effect on their brand trust; (H4) Consumers' perception of the value of reward programs has a positive effect on their brand affect; (H5) Brand trust has a positive effect on program loyalty; (H6) Brand affect has a positive effect on program loyalty; (H7) Brand trust has a positive effect on brand loyalty; (H8) Brand affect has a positive effect on brand loyalty; (H9) Consumers' perception of the value of reward programs is more likely to influence their brand trust for utilitarian reward programs than for hedonic ones; and (H10) Consumers' perception of the value of reward programs is more likely to influence their brand affect for hedonic reward programs than for utilitarian ones. To test the hypotheses, we considered a sample of 220 undergraduate students in Korea (male:113). We randomly assigned these participants to one of two groups based on the type of reward program (utilitarian: transportation card, hedonic: movie ticket). We instructed the participants to imagine that they were offered these reward programs while visiting an online shopping mall. We then asked them to answer some questions about their perception of the value of the reward programs, program loyalty, brand loyalty, brand trust, and brand affect, in that order. We also asked some questions about their demographic backgrounds and then debriefed them. We employed the structural equation modeling (SEM) method with AMOS 18.0. The results provide support for some hypotheses (H1, H3, H4, H7, H8, and H9) while providing no support for others (H2, H5, H6, H10) (see Figure 1). Noteworthy is that the path proposed by previous studies, "value perception → program loyalty → brand loyalty," was not significant in the context of online shopping, whereas this study's proposed path, "value perception → brand trust/brand affect → brand loyalty," was significant. In addition, the results indicate that the type of reward program moderated the relationship between consumers' value perception and brand trust but not the relationship between their value perception and brand affect. These results have some important implications. First, this study is one of the first to examine how consumers' perception of the value of reward programs influences their brand loyalty in the context of online shopping. In particular, the results indicate that the proposed path, "value perception → brand trust/brand affect → brand loyalty," can better explain the effects of reward programs on brand loyalty than existing paths. Furthermore, these results suggest that online shopping malls should place greater emphasis on the type of reward program when devising reward programs. To foster brand loyalty, they should reinforce the type of shopping value that consumers emphasize by providing them with appropriate reward programs. If consumers prefer utilitarian value to hedonic value, then online shopping malls should offer utilitarian reward programs and vice versa.

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