• Journal of Global Scholars of Marketing Science
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• v.15 no.2
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• pp.183-201
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• 2005

The lowest price guarantee policy or price-matching guarantee is the pricing policy that promises to compensate more than the price difference if a consumer finds a lower price for the identical model he or she purchased and submits a certain proof. Most of Korean large discount stores emphasize their competitive price level by adopting the lowest price guarantee policy so that the entire Korean distribution industry is deeply influenced by the policy. The article is the study regarding the effects of the lowest price guarantee policy in Korean unique industry environments. The study investigated the effects of the policy on consumers' preferences of stores. By using the conjoint measurement model, it identified the main effects and interaction effects between the policy and other independent variables. The results showed the significant effects of the policy on consumers' preference of stores and identified the interaction effects between the distance from the residence and the policy, and between overall store price level and the policy.

• Korean Journal of Construction Engineering and Management
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• v.11 no.2
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• pp.94-105
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• 2010

Recently, resettlement problems of low income groups in the urban regeneration area have been issued in Korea because they have no capability to purchase (or lease) redeveloped housing (or apartment). There are several approaches for supplying affordable housing and one of these is the bidding system which can reduce construction cost. However, the lowest bidding system has many problems such as dumping and substandard quality. In this context, this study proposed bidding system based on technical proposal applying the concept of the lowest total combined bid price for optimization of bid price, reduction of construction cost and period, and maintenance of suitable quality. This bidding system embraces the best value and cost plus time concept on the basis of an improved lowest price bidding system. It consists of the following components: work unit based, project unit based, and period reducing technical proposals. The proposed bidding system for determining bidders are designed to evaluate the adequacy of each technical proposal in the order of the combined minimum price in an effort to effectively optimize bid prices and reduce the construction periods, as well as to maintain a minimum appropriate quality.