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The Effects of the Competency and Market Characteristics of Traditional Market Merchants on Business Performance  

Lee, In Sun (The Graduate School of Venture, Hoseo University)
Ha, Kyu Soo (The Graduate School of Venture, Hoseo University)
Publication Information
Asia-Pacific Journal of Business Venturing and Entrepreneurship / v.14, no.5, 2019 , pp. 105-113 More about this Journal
Abstract
This study focuses on analyzing the key success factors of the traditional market by analyzing the impact on the business performance of merchants in the traditional market. Based on the existing research on entrepreneurship, psychological characteristics, capabilities, and physical characteristics of the market were considered as merchant characteristics. As a result, the risk characteristics and merchant pride, which are internal characteristics of merchants, have a significant effect on business performance. Among the competencies of merchants, product competency, customer management competency, and price competency were found to have a significant impact on business performance. Among the physical characteristics of the market, reputation and product diversity were found to have a significant effect on business performance. The results of this study are meaningful to empirically prove the relevance of the merchant's internal characteristics and capabilities, and the market's physical characteristics to the business performance of market merchants. Could be utilized. However, the limitation of this study is that there may be differences in each industry in the case of market merchant products. In future studies, empirical studies on the trader's relevance to business capability and business performance should be continued.
Keywords
traditional market; merchants; competency; business performance;
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