• Journal of Service Research and Studies
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• v.11 no.3
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• pp.1-16
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• 2021

Recently, crowdfunding has been receiving increased attention due to the variety of novel ways it provides for connecting funders and fundraisers. Concurrently, however, it has been criticized on the grounds of information asymmetry. We are interested in whether information collected from an asymmetric information source significantly influences crowdfunding success. Through this study, we would like to establish a social field of convergence pursued by Serve Science and to conduct practical research and practice together. First, we investigated the importance of interaction between funders and fundraisers within the crowdfunding platform. In the "comments" section, communication between funders and fundraisers reduces the degree of asymmetric information. In the aspect of presumable funders, they should make the best of the "comments" section to collect more solid information without losing return on their investment. Second, we analyze sentiment-based optimistic and pessimistic information from the "story" (asymmetric source) and "comments" sections. In conclusion, it shows that the optimistic and pessimistic information of the "comments" section has a great impact on crowdfunding success and that the influence of the "story" section is limited to pessimistic information under certain conditions. The crowdfunding platform is an innovative and productive way for startups and entrepreneurs to start a business, and since information an important role in the success of crowdfunding, It can be seen that it is essential to focus on establishing the best communication methods.

• Journal of Intelligence and Information Systems
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• v.29 no.4
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• pp.325-345
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• 2023

In the rapidly evolving domain of e-commerce, our study presents a cohesive approach to enhance customer satisfaction prediction from online reviews, aligning methodological innovation with practical insights. We integrate the RFE-SHAP feature selection with LDA topic modeling to streamline predictive analytics in e-commerce. This integration facilitates the identification of key features-specifically, narrowing down from an initial set of 28 to an optimal subset of 14 features for the Random Forest algorithm. Our approach strategically mitigates the common issue of overfitting in models with an excess of features, leading to an improved accuracy rate of 84% in our Random Forest model. Central to our analysis is the understanding that certain aspects in review content, such as quality, fit, and durability, play a pivotal role in influencing customer satisfaction, especially in the clothing sector. We delve into explaining how each of these selected features impacts customer satisfaction, providing a comprehensive view of the elements most appreciated by customers. Our research makes significant contributions in two key areas. First, it enhances predictive modeling within the realm of e-commerce analytics by introducing a streamlined, feature-centric approach. This refinement in methodology not only bolsters the accuracy of customer satisfaction predictions but also sets a new standard for handling feature selection in predictive models. Second, the study provides actionable insights for e-commerce platforms, especially those in the clothing sector. By highlighting which aspects of customer reviews-like quality, fit, and durability-most influence satisfaction, we offer a strategic direction for businesses to tailor their products and services.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.4
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• pp.1-16
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• 2022

This paper studies the impact of regulatory approaches on innovation and entrepreneurship. As technological progress and environmental changes avail new business opportunities to innovative startups, many governments find it difficult to regulate new and unprecedented businesses promoted by the innovative firms. In order to provide academic and practitional implications on the regulatory design with which to support innovation and entrepreneurship, this paper aims to review classical theories on the demand and supply of regulation as well as empirical research on the impact of regulation on market entry and incentives for innovation. Based on the findings, this paper discusses the recent controversies around the regulatory approaches on new businesses pursued by startups, which are as known as the "positive regulatory approach" vs. "negative regulatory approaches" among practitioners and policy makers in Korea. This paper claims that the Korean context provides an useful opportunity to investigate how the ongoing transition of the once "fast follower" economy into a pacesetter one changes the nature of businesses pursued by firms, investors, and related market players and, accordingly, calls for the changes in the way the government intervenes in markets to regulate businesses of firms. By doing so, this paper sheds light on the role of the government in establishing an entrepreneurial ecosystem where innovative ideas of startups can be tested and nurtured.

• Information Systems Review
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• v.20 no.2
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• pp.209-226
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• 2018

Location-based services have distinctive service characteristics compared to the past online commerce used on the desktop. In any place, mobile communication devices can be used to access online and utilize online shopping, and it is more convenient for users. In addition, by providing shopping and service information specific to each location, it is possible to provide convenience to the consumers according to their locations. In addition, it provides scarcity of information as well as location, thereby increasing consumers' desire to purchase. In this study, we investigated the effect of scarcity on the Purchase intention of consumers in location-based services. The steps of scarcity are: first, a step without scarcity, Second, providing time limit information, Third, providing quantity limitation information, Fourth, the experiment was designed to provide time and quantity limitation, and 4 groups were analyzed through experimental stimuli The purpose of this study is to verify the moderating effect of the dependent variable on the degree of scarcity by adding 'ubiquity', 'interactivity' and 'privacy' which are characteristics of location-based service. As a result of the analysis, scarcity of time and scarcity of quantity limitation scarcity stimuli showed a moderating effect on ubiquity, interactivity and consumer's purchase intention, and these variables also directly or indirectly affected positively. Consumer confidence was found to have a negative effect on consumers' purchase intentions.

• Journal of Distribution Science
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• v.9 no.4
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• pp.51-61
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• 2011

The concept of Corporate Social Responsibility (CSR) was first introduced sixty years ago in the academic field. However, the phrase CSR was not explicitly stated before the 1990s in Korean business and academic researches. Recently CSR is more considered a corporate strategy than a philanthropic donation. CSR comprises contributions to local communities as well as using environmentally beneficial and humane practices. Sponsoring is one available marketing tactic used in order to communicate with the market. This study of sponsorship has concentrated on developing brand asset by accessing potential values of sporting events or star-players. However, sponsorship includes providing funds or goods to non-profit institutions as well as sports or entertainment organizations. Accordingly corporate community-specific sponsorship is defined as firms offering to provide money, goods and/or services to individuals and/or institutions within a particular community, thus establishing an interdependent relationship between the partners aspiring to gain social and economic assets. National sponsorship is typically targeted toward commonly recognized individuals and/or organizations with the intent to maximize exposure of a sponsor's brand, and is known to positively affect brand equity(community-specific sponsorship is committed to a limited local area) that a firm could benefit from by gaining a specific asset. POSCO sponsors the Jukdo Market, locate dinthe city of Pohang, tohelp revive their traditional market. Inreturn, the Jukdo Market merchant suni on display sflags with the POSCO embleminfrontof stores with in the market intending to make shopper sand merchant saware of POSCO's sponsorship. POSCO has succeeded in acquiring public support from the citizens of Pohang. However, the economic effects resulting from the cooperative relationship between POSCO and the Jukdo Market have yet to be measured by any empirical research. The purpose of this study is to assess the economic effects created by the community-specific sponsorship from the groups of merchants and shoppers, measuring its influence on the corporate image and subsequent brand loyalty, as parts of brand equity. The result of the study shows that the community-specific sponsorship of POSCO of the Jukdo Market had different influences on its corporate image and the brand loyalty of shoppers and merchants. First, the merchant group who was more frequently exposed to POSCO's flag recognized the sponsorship of POSCO more than the shopper group, and, therefore, had a better image of the company. Second, the recognition of POSCO's sponsorship had a positive influence on its corporate image, and that positive corporate image had a positive effect on brand loyalty development. However, the recognition of the sponsorship did not have a direct influence on brand loyalty. The friendly corporate image developed by the recognition of the sponsorship consequently could have had an effect on brand loyalty. Therefore, companies should not relinquish investments to corporate image development if they require more brand loyalty. Third, the influence of corporate image on brand loyalty shows stronger results in the shopper group rather than in the merchant group. Psycho-graphic factors of shoppers and merchants might give rise to the difference between the two groups.

• Journal of Venture Innovation
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• v.1 no.1
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• pp.1-14
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• 2018

The 4th Industrial Revolution is making a big change for our company like the tsunami. The CPS system, which is represented by the digital age, is based on the data accumulated in the physical domain and is making business that was not imagined in the past through digital technology. As a result, the business model of the 4th Industrial Revolution era is different from the previous one. In this study, we analyze the trends and the issues of business innovation theory research. Then, the business innovation model of the digital age was compared with the previous period. Based on this, we have searched for a business model suitable for the 4th Industrial Revolution era. The existing business models have many difficulties to explain the model of the digital era. Even though more empirical research should be supported, Michael Porter's diamond model is most suitable for four cases of business models by applying them. Type A sharing outcome with customer is a model that pay differently according to the basis of customer performance. Type B Value Chain Digitalization model provides products and services to customers with faster and lower cost by digitalizing products, services and SCM. Type C Digital Platform is the model that brings the biggest ripple effect. It is a model that can secure profitability by creating new market by creating the sharing economy based on digital platform. Finally, Type D Sharing Resources is a model for building a competitive advantage model by collaborating with partners in related industries. This is the most effective way to complement each other's core competencies and their core competencies. Even though numerous Unicorn companies have differentiated digital competitiveness with many digital technologies in their respective industries in the 4th Industrial Revolution era, there is a limit to the number of pieces to be listed. In future research, it is necessary to identify the business model of the digital age through more specific empirical analysis. In addition, since digital business models may be different in each industry, it is also necessary to conduct comparative analysis between industries

• Journal of Intelligence and Information Systems
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• v.23 no.4
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• pp.1-31
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• 2017

Modern businesses are adopting new technologies to serve their markets better as well as to improve efficiency and productivity. The advertising industry has continuously experienced disruptions from the traditional channels (radio, television and print media) to new complex ones including internet, social media and mobile-based advertising. This case study focuses on proposing intelligent advertising business model in Seoul's metro network. Seoul has one of the world's busiest metro network and transports a huge number of travelers on a daily basis. The high number of travelers coupled with a well-planned metro network creates a platform where marketers can initiate engagement and interact with both customers and potential customers. In the current advertising model, advertising is on illuminated and framed posters in the stations and in-car, non-illuminated posters, and digital screens that show scheduled arrivals and departures of metros. Some stations have digital screens that show adverts but they do not have location capability. Most of the current advertising media have one key limitation: space. For posters whether illuminated or not, one space can host only one advert at a time. Empirical literatures show that there is room for improving this advertising model and eliminate the space limitation by replacing the poster adverts with digital advertising platform. This new model will not only be digital, but will also provide intelligent advertising platform that is driven by data. The digital platform will incorporate location sensing, e-commerce, and mobile platform to create new value to all stakeholders. Travel cards used in the metro will be registered and the card scanners will have a capability to capture traveler's data when travelers tap their cards. This data once analyzed will make it possible to identify different customer groups. Advertisers and marketers will then be able to target specific customer groups, customize adverts based on the targeted consumer group, and offer a wide variety of advertising formats. Format includes video, cinemagraphs, moving pictures, and animation. Different advert formats create different emotions in the customer's mind and the goal should be to use format or combination of formats that arouse the expected emotion and lead to an engagement. Combination of different formats will be more effective and this can only work in a digital platform. Adverts will be location based, ensuring that adverts will show more frequently when the metro is near the premises of an advertiser. The advertising platform will automatically detect the next station and screens inside the metro will prioritize adverts in the station where the metro will be stopping. In the mobile platform, customers who opt to receive notifications will receive them when they approach the business premises of advertiser. The mobile platform will have indoor navigation for the underground shopping malls that will allow customers to search for facilities within the mall, products they may want to buy as well as deals going on in the underground mall. To create an end-to-end solution, the mobile solution will have a capability to allow customers purchase products through their phones, get coupons for deals, and review products and shops where they have bought a product. The indoor navigation will host intelligent mobile-based advertisement and a recommendation system. The indoor navigation will have adverts such that when a customer is searching for information, the recommendation system shows adverts that are near the place traveler is searching or in the direction that the traveler is moving. These adverts will be linked to the e-commerce platform such that if a customer clicks on an advert, it leads them to the product description page. The whole system will have multi-language as well as text-to-speech capability such that both locals and tourists have no language barrier. The implications of implementing this model are varied including support for small and medium businesses operating in the underground malls, improved customer experience, new job opportunities, additional revenue to business model operator, and flexibility in advertising. The new value created will benefit all the stakeholders.

• Journal of Mushroom
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• v.15 no.1
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• pp.45-53
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• 2017

Profitability of farmers has decreased mainly owing to low price while the gross amount of mushroom production has increased continuously in South Korea. In this regard, analyzing patterns of mushroom consumption is believed to be meaningful. We used a panel data set consisting of 667 families, from 2010 to 2015. Based on the panel data, mushroom consumption patterns of people living in city areas were examined. Multiple descriptive analysis methods and frequency analysis approaches were adopted in this study in terms of time and space dimensions, demographic properties, and purchase behaviors. The findings of this studyshow that mushroom purchase is highly dependent on seasonal events, which implies that the product consumption timing is predictable. In addition, yearly purchase amount patterns reflect that superstores have become the major mushroomtrading venues. This directly supports the need to establish supply chain capabilities for mushroom farmers so that they gain more bargaining power against enterprise-type groceries. Finally, functional features of mushroom can be linked with marketing promotion because purchase patterns demonstrate potential needs for healthcare food in mushroom categories. Based on the analyzed patterns, this paper provides insightful implications for policy makers who want to promote mushroom consumption.

• Journal of the Institute of Electronics Engineers of Korea CI
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• v.44 no.2 s.314
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• pp.37-46
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• 2007

In this paper, we propose technologies for enhancing the immersive realization of virtual objects in AR-based product design. Generally, multimodal senses such as visual/auditory/tactile feedback are well known as a method for enhancing the immersion in case of interaction with virtual objects. By adapting tangible objects we can provide touch sensation to users. A 3D model of the same scale overlays the whole area of the tangible object so the marker area is invisible. This contributes to enhancing immersion. Also, the hand occlusion problem when the virtual objects overlay the user's hands is partially solved, providing more immersive and natural images to users. Finally, multimodal feedback also creates better immersion. In our work, both vibrotactile feedback through page motors, pneumatic tactile feedback, and sound feedback are considered. In our scenario, a game-phone model is selected, by way of proposed augmented vibrotactile feedback, hands occlusion-reduced visual effects and sound feedback are provided to users. These proposed methodologies will contribute to a better immersive realization of the conventional AR system.

• Korean journal of food and cookery science
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• v.25 no.4
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• pp.395-405
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• 2009

In this study, a survey was conducted to determine consumer perceptions and satisfaction for onion hot-water extracts. Among the study subjects, females (53.3%) were in greater number than males, and individuals in their 40s (35.1%) made up the largest group. Cocerning the detailed efficacy of onion hot-water extracts, most respondents (84.5%) were aware of their efficacy and females recognized this more than males (p<0.001). Most consumers (67.3%) purchased onion hot-water extracts from 'health food stores prepared using a double boiler', and many consumers (47.4%) received information on the extracts from families and relatives. Of the respondents, 51.8% said they purchased 'quantities for $1{\sim}3$ months' at one time, and 33.1% stated that the price of onion hot-water extracts was expensive. They considered 'health' the most important aspect when purchasing, and preferred 'pouch packs' (60.3%) and considered 'easiness to open convenience to drink, and safety' (42.0%) the most important product features. Also, 62.8% of the respondents consumed onion hot-water extracts, and many drank them $1{\sim}3$ times a week, with '70 mL' as one dose, and drank them 'regardless of time'. The consumers were satisfied with the listing of health effects, but were not satisfied with the 'taste', 'smell', or 'color' of products. Concerning advertisements for the efficacy of onion hot-water extracts, 72.5% replied 'I trust them a little'. And concerning the expanding onion hot-water extract market, many respondents said it is difficult to choose an onion hot-water extract due to many similar products at the market. They also requested improvements of taste and flavor.