Internet commerce has been growing at a rapid pace for the last decade. Many firms try to reach wider consumer markets by adding the Internet channel to the existing traditional channels. Despite the various benefits of the Internet channel, a significant number of firms failed in managing the new type of channel. Previous studies could not cleary explain these conflicting results associated with the Internet channel. One of the major reasons is most of the previous studies conducted analyses under a specific market condition and claimed that as the impact of Internet channel introduction. Therefore, their results are strongly influenced by the specific market settings. However, firms face various market conditions in the real worlddensity and disutility of using the Internet. The purpose of this study is to investigate the impact of various market environments on a firm's optimal channel strategy by employing a flexible game theory model. We capture various market conditions with consumer density and disutility of using the Internet.
shows the channel structures analyzed in this study. Before the Internet channel is introduced, a monopoly manufacturer sells its products through an independent physical store. From this structure, the manufacturer could introduce its own Internet channel (MI). The independent physical store could also introduce its own Internet channel and coordinate it with the existing physical store (RI). An independent Internet retailer such as Amazon could enter this market (II). In this case, two types of independent retailers compete with each other. In this model, consumers are uniformly distributed on the two dimensional space. Consumer heterogeneity is captured by a consumer's geographical location (ci) and his disutility of using the Internet channel (${\delta}_{N_i}$).
shows various market conditions captured by the two consumer heterogeneities.
(a) illustrates a market with symmetric consumer distributions. The model captures explicitly the asymmetric distributions of consumer disutility in a market as well. In a market like that is represented in
(c), the average consumer disutility of using an Internet store is relatively smaller than that of using a physical store. For example, this case represents the market in which 1) the product is suitable for Internet transactions (e.g., books) or 2) the level of E-Commerce readiness is high such as in Denmark or Finland. On the other hand, the average consumer disutility when using an Internet store is relatively greater than that of using a physical store in a market like (b). Countries like Ukraine and Bulgaria, or the market for "experience goods" such as shoes, could be examples of this market condition.
summarizes the various scenarios of consumer distributions analyzed in this study. The range for disutility of using the Internet (${\delta}_{N_i}$) is held constant, while the range of consumer distribution (${\chi}_i$) varies from -25 to 25, from -50 to 50, from -100 to 100, from -150 to 150, and from -200 to 200.
summarizes the analysis results. As the average travel cost in a market decreases while the average disutility of Internet use remains the same, average retail price, total quantity sold, physical store profit, monopoly manufacturer profit, and thus, total channel profit increase. On the other hand, the quantity sold through the Internet and the profit of the Internet store decrease with a decreasing average travel cost relative to the average disutility of Internet use. We find that a channel that has an advantage over the other kind of channel serves a larger portion of the market. In a market with a high average travel cost, in which the Internet store has a relative advantage over the physical store, for example, the Internet store becomes a mass-retailer serving a larger portion of the market. This result implies that the Internet becomes a more significant distribution channel in those markets characterized by greater geographical dispersion of buyers, or as consumers become more proficient in Internet usage. The results indicate that the degree of price discrimination also varies depending on the distribution of consumer disutility in a market. The manufacturer in a market in which the average travel cost is higher than the average disutility of using the Internet has a stronger incentive for price discrimination than the manufacturer in a market where the average travel cost is relatively lower. We also find that the manufacturer has a stronger incentive to maintain a high price level when the average travel cost in a market is relatively low. Additionally, the retail competition effect due to Internet channel introduction strengthens as average travel cost in a market decreases. This result indicates that a manufacturer's channel power relative to that of the independent physical retailer becomes stronger with a decreasing average travel cost. This implication is counter-intuitive, because it is widely believed that the negative impact of Internet channel introduction on a competing physical retailer is more significant in a market like Russia, where consumers are more geographically dispersed, than in a market like Hong Kong, that has a condensed geographic distribution of consumers. illustrates how this happens. When mangers consider the overall impact of the Internet channel, however, they should consider not only channel power, but also sales volume. When both are considered, the introduction of the Internet channel is revealed as more harmful to a physical retailer in Russia than one in Hong Kong, because the sales volume decrease for a physical store due to Internet channel competition is much greater in Russia than in Hong Kong. The results show that manufacturer is always better off with any type of Internet store introduction. The independent physical store benefits from opening its own Internet store when the average travel cost is higher relative to the disutility of using the Internet. Under an opposite market condition, however, the independent physical retailer could be worse off when it opens its own Internet outlet and coordinates both outlets (RI). This is because the low average travel cost significantly reduces the channel power of the independent physical retailer, further aggravating the already weak channel power caused by myopic inter-channel price coordination. The results implies that channel members and policy makers should explicitly consider the factors determining the relative distributions of both kinds of consumer disutility, when they make a channel decision involving an Internet channel. These factors include the suitability of a product for Internet shopping, the level of E-Commerce readiness of a market, and the degree of geographic dispersion of consumers in a market. Despite the academic contributions and managerial implications, this study is limited in the following ways. First, a series of numerical analyses were conducted to derive equilibrium solutions due to the complex forms of demand functions. In the process, we set up V=100, ${\lambda}$=1, and ${\beta}$=0.01. Future research may change this parameter value set to check the generalizability of this study. Second, the five different scenarios for market conditions were analyzed. Future research could try different sets of parameter ranges. Finally, the model setting allows only one monopoly manufacturer in the market. Accommodating competing multiple manufacturers (brands) would generate more realistic results.
The Journal of Korean Institute of Communications and Information Sciences
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v.42
no.3
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pp.566-576
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2017
Key-value stores proved its superiority by being applied to various NoSQL databases such as Redis, Memcached. Lookup performance is important because key-value store applications performs more lookup than insert operations in most environments. However, in traditional applications, lookup may be slow because hash tables are constructed out of linked-list. Therefore, cuckoo hashing has been getting attention from the academia for constant lookup time, and bucketized cuckoo hashing (BCH) has been proposed since it can achieve high load factor. In this paper, we introduce Sorting Cuckoo which inserts data using insertion sort in BCH structure. Sorting Cuckoo determines the existence of a key with a relatively small memory access because data are sorted in each buckets. In particular, the higher memory load factor, the better lookup performance than BCH's. Experimental results show that Sorting Cuckoo has smaller memory access than BCH's as many as about 19 million (25%) in 10 million negative lookup operations (key is not in the table), about 4 million times (10%) in 10 million positive lookup operations (where it is) with load factor 95%.
Knowledge can be characterized in many ways. We have categorized internal and external knowledge by its position, tacit and explicit knowledge by the degree of formalization, and general and innovative knowledge by the power of competitive advantage. They is, often, mixed in real world. Under New Economy, firms must conduct the analysis of various knowledge embodied employee's skill, its products and business process, and create a new added value. Knowledge is the important strategic resource and the ability to capture, organize, store and apply is the critical capability for substantial competitive advantage. For establishing the steps of knowledge management strategy, we described below - the identification of intellectual capital, value analysis, the building of knowledge infrastructure, the knowledge organization, value creation, and the knowledge evaluation and dynamic knowledge management.
Journal of the Korean Operations Research and Management Science Society
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v.40
no.1
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pp.35-55
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2015
In this research, we analyze the effects of price discounts and scarcity message (both quantity limitation message and time limitation message) on the purchase intention in the smart-phone environment. The purchase intention becomes higher at high discount rate and with scarcity message (both quantity limitation message and time limitation message). We also analyze the moderating effects of consumer's shopping value and distance between the consumer and the store on the effects of price discounts and scarcity message (both quantity limitation message and time limitation message) on the purchase intention. On average, the effects of price discount, time limitation message and quantity limitation message on the purchase intention become the highest levels for consumers pursuing hedonic shopping value. The effects of price discount, time limitation message and quantity limitation message on the purchase intention become higher when they are offered within a short distance between the coupon provider and the target customer.
The COVID-19 pandemic has not only increased customer preference for contactless methods but also created digital business opportunities in a variety of industries. Particularly in the fashion industry, contactless distribution and contactless shopping have increased significantly. This study identifies the changed consumers' perception of contactless shopping, which has been expanded due to the COVID-19 pandemic and analyzes specific factors that influence shopping switching intention to derive efficient marketing plans for post COVID-19 era. The study targeted Korean male and female consumers. The perceived value, usefulness, and alternative attractiveness of contactless shopping had a significant effect on shopping switching intention, and a moderating effect of offline fashion stores was confirmed. These results indicate that customers' experience in a fashion store influences their next online and offline shoping. This study, therefore, proposed the direction that the fashion industry should advance from a marketing perspective in the post COVID-19 era.
Journal of the Korean Society of Clothing and Textiles
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v.39
no.1
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pp.15-29
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2015
This study analyzes the mechanism that explains how various service quality factors are related to consumer satisfaction when plus-size and regular-size women are engaged in fashion shopping. We constructed and tested service quality- perceived value-satisfaction model with size as a control variable. We defined plus-size women as those with a BMI over 25 and regular-size women below 25. Data were collected during April and May, 2012 and responses from 189 plus-size women and 246 regular-size women were used in the final analysis. The results are as follows. First, among service quality factors, attention was significantly related to perceived service value for both plus-size women and regular-size women. However, store facilities were significantly related to perceived service value for only plus-size women and kindness was significantly related to perceived service value only in the case of regular-size women. Second, perceived service value was significantly related to product satisfaction and service satisfaction for plus-size women and regular- size women. However a moderating effect was found between the groups where the influences of perceived service value on product satisfaction and service satisfaction in the case of plus-size women were greater than regular-size women. Third, in the case of regular-size women, service satisfaction was positively affected by product satisfaction. However, the relationship between them was not found in the case of plus-size women.
The purpose of this study in to investigate the high-arousal has a direct effect on the pleasure. Especially this paper focused on the moderating effect of shopping value(hedonic vs utilitarian). Namely, interaction effect of arousal and shopping value has a direct effect on the pleasure. We also examine the pleasure impact on the behavior intention. The main results of this article are as follow; First, it was proved that high arousal can influence on pleasure. Second, it was also proved the interaction effect of arousal and shopping value can influence on arousal. Third, it was proved the pleasure can have a positive influence on behavior intention.
Purpose - Recently, many large retailers have been frequently purchasing commercial brands. Not only the quality of products purchased but also the brand images are of concern in this process. Based on this rising trend, commercial brands have become an important issue in the retail business world, along with increasing general interest as well. Thus, this study focuses on the factors affecting commercial brand images and clarifies the impact of the resulting factors as well. First, store images and familiarity, price sensitiveness, and knowledge are presented as the effect factors for commercial brands. Second, the study tries to clarify the effect of commercial brand image on the reliability and loyalty of customers. Research design, data, and methodology - To conduct the study methodology, 250 questionnaires were distributed to retailers who have used large discount stores located in Busan to purchase a commercial brand a total of 234 valid questionnaires were used in the final analysis. To verify the hypotheses, a structure equation formula using Amos 20.0 was calculated. First, prior to the verification of hypotheses, the reliability and feasibility of the questions were tested, and as a result, the value of Cronbach's alpha was higher than 0.7, thereby showing reliability. Additionally, for the verification of the feasibility of the questions, a confirmation factor analysis was implemented. Results - First, variances such as store images, familiarity, price sensitivity, and knowledge were presented as the factors of effect on commercial brands. As a result of the hypotheses verification, all the effect factors presented in this study were confirmed as important variables of commercial brand images. The hypotheses were drawn based on the studies relating to existing commercial brands, and thereby, a result similar to previous studies was produced. However, the effect factors of the commercial brand image presented in this study shaped a new study model based on the previous studies. Second, it was found that commercial brand images had positive effects on the reliability and loyalty of customers. This study presented reliability and loyalty as the resulting factors of commercial brand image because they are the most important factors in relation to customer behavior and variables that can suggest marketing points for distribution businesses. Conclusions - This study focused on clarifying the factors that are important effect factors for commercial brand images. As a result, all the hypotheses were confirmed in this study, indicating a meaningful result, and thereby suggesting many points that can be presented to distribution businesses. First, the proper strategies should be developed based on the hypothesis that a store image, the familiarity of customers with brands, and the price sensitiveness and knowledge level of customers have an important effect on the choice of commercial brands. Additionally, the formation of such favorable images will have positive effects not only in terms of customer trust in the commercial brands but also in terms of their loyalty.
This study introduces 'Free Market' that was recently developed in front of Hongik university. 'Free market', as a place for transactions for art products produced by artists or prospective artists, is held regularly every Saturday in front of Hongik university. This study collected data through in-depth interviews with participants and participant observations at the market to analyze the success factors of 'Free Market'. We described development process, unique characteristics of 'Free Market' and new experiential values that the market provide to the participants. This free market was introduced as roadside stand in the middle of 1990s when some artists started selling their works. It passed through the growth stage after it staged the event that had mixed characteristics of 'flee market' and 'art market' at local festivals in 2001. In 2002 Sin-Chon culture forum directedculture-oriented market and the market has been developed as a current 'Free Market'. Recently 'Free Market' is comprised of steps, artists, and customers who voluntarily participated in the market. The market is held regularly every Saturday and provide various types of programs for the participants. Major characteristics of this free market were summarized as 'complex space' and 'role transition', and these characteristics provided the participants new experiential values such as 'freedom', 'emergent experiences', 'social interaction' and 'hero of festivals' through the participant role. We interpret that 'Free Market' has been successfully settled down as a new type of retail store based on these new experiential values. Therefore, this case provides very useful implications that unique experiential values that a store provides to the customers can be major sources of store competitive advantages.
Purpose - This paper empirically investigates the predictors and main determinants of consumers' ratings of mobile applications in the Google Play Store. Using a linear and nonlinear model comparison to identify the function of users' review, in determining application rating across countries, this study estimates the direct effects of users' reviews on the application rating. In addition, extending our modelling into a sentimental analysis, this paper also aims to explore the effects of review polarity and subjectivity on the application rating, followed by an examination of the moderating effect of user reviews on the polarity-rating and subjectivity-rating relationships. Design/methodology - Our empirical model considers nonlinear association as well as linear causality between features and targets. This study employs competing theoretical frameworks - multiple regression, decision-tree and neural network models - to identify the predictors and main determinants of app ratings, using data from the Google Play Store. Using a cross-validation method, our analysis investigates the direct and moderating effects of predictors and main determinants of application ratings in a global app market. Findings - The main findings of this study can be summarized as follows: the number of user's review is positively associated with the ratings of a given app and it positively moderates the polarity-rating relationship. Applying the review polarity measured by a sentimental analysis to the modelling, it was found that the polarity is not significantly associated with the rating. This result best applies to the function of both positive and negative reviews in playing a word-of-mouth role, as well as serving as a channel for communication, leading to product innovation. Originality/value - Applying a proxy measured by binomial figures, previous studies have predominantly focused on positive and negative sentiment in examining the determinants of app ratings, assuming that they are significantly associated. Given the constraints to measurement of sentiment in current research, this paper employs sentimental analysis to measure the real integer for users' polarity and subjectivity. This paper also seeks to compare the suitability of three distinct models - linear regression, decision-tree and neural network models. Although a comparison between methodologies has long been considered important to the empirical approach, it has hitherto been underexplored in studies on the app market.
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