• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.4
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• pp.191-203
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• 2016

This purpose of this study is to academically define what "luxury products" mean, and to clarify the cognitive structural relationship between corporate attributes and "luxuriousness" in relation to the determinant of luxuriousness that eventually affects the purchase intention of consumers. This study is also written under the theory that luxuriousness leads to benefits such as functional benefit, experiential benefit, symbolic benefit, and exclusive benefit; which all provide core values to consumers and serve as effect factors that influence the psychological satisfaction of consumers. The commonly discussed measure of the determinant of luxuriousness has often failed to adequately describe the reasons to why the consumers prefer luxury products. This study also aims to suggest a new path in how and what the consumers perceive as luxury products, and to conceptualize what luxuriousness means in the marketing perspectives on the background of a previous theory. The part of corporate attributes are divided in the following sections: corporate ability(CA) and corporate reputation(CR). The part of the determinant of luxuriousness is divided in sections of superiority, scarcity, differentiation, and traditionality. Therefore, this study used the theoretical concept used in such common measures as well as 282 examples to empirically analyze the relationship between corporate attributes and luxuriousness of luxury products, and how such affect the purchase intentions of consumers. The survey used to aid this study targeted luxury product consumers regarding "B" brand of automobiles. Using the analysis through a structural equation model, the study draws a conclusion that in a relationship between corporate attributes and luxuriousness, corporate ability(CA) of corporate attributes affects the facts of differentiation and traditionality in a significant way, and corporate reputation(CR) of corporate attributes affects the factors of superiority and scarcity in a significant way. Additionally, the superiority and scarcity of luxuriousness positive significantly affects purchase intention, and differentiation and traditionality of luxuriousness affects purchase intention in a negative significant way. The structural concept of luxury and luxuriousness suggested in the study will provide the theoretical basis for building a new case study, and the determinants of luxuriousness in the marketing perspective will be a practical help for checking the consumers' psychological reasons for purchase.

• Journal of the Korean Society of Clothing and Textiles
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• v.31 no.12
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• pp.1772-1783
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• 2007

This study aimed to investigate differences in the purchasing patterns of and the levels of satisfaction with cosmetic products, and the method of disposing dissatisfied cosmetics for female university students among China, Japan and Korea. Survey was conducted with 1,200 female coeducational university students in Beijing, Tokyo and Seoul and 1,115 were used for the data analysis. Data were analysed by frequency analysis, Cronbach's ${\alpha}$, chi-square analysis, analysis of variance, Duncan's Multiple Range test. The results showed significant differences in purchasing behaviors in China, Japan and Korea. Japanese students mainly got information through objective sources, while Koreans did so through human network. Regrading the evaluative criteria for basic care items, function and effect were the most important criteria for Chinese and Korean consumers and skin compatibility for Japanese. For color make-up, Chinese, Japanese and Korean respondents respectively cared the most on brand image, convenience of purchase and the current trend. Chinese tended to shop cosmetics at department stores due to store reputation, Japanese preferred supermarkets and pharmacies and Koreans shopped at discount stores for low price. The most influential human sources were friends and colleagues for Chinese and Korean, and models on advertisements and magazines for Japanese. Korean respondents displayed the highest level of satisfaction with cosmetics followed by Japanese and Chinese. As for the methods of disposing dissatisfactory cosmetics, Chinese were the most active in exchanging for other product; Japanese and Korean were not likely to use or throw the products away.

• The Journal of the Korea Contents Association
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• v.11 no.10
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• pp.405-415
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• 2011

The primary purpose of this paper is to identify the influencing factors on the new products adoption between countries and generations. For this purpose, a research is developed based on the relevant literature reviews. Data have been collected from 524 persons and were tested by t-test and various statistical methods. The results of this empirical study are summarized as follows. In the cultural factors, the groupism has high discretion in China old generation. The materialism and shopping preference have high discretion in two young generations. There is no difference between the two groups in the distance of power. In innovativeness of personality, Korea and China young generation have high discretion. Innovativeness has high discretion in Korea and China youngs. Cognition and sensory innovativeness are has low discretion in Korea old. In the social risk perception, physiological, functional general and financial risk has high discretion in China old. In risk reducing behavior, the normative taking level and ad, new product adoption has high discretion in Korea and China youngs. But, the influence of others has high discretion in China old generation. The safety and brand reputation are no influences. The findings have a several marketing strategies in generation and countries.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.12
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• pp.186-196
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• 2018

Sports has become one way to improve our own health and to enjoy life by changing the lifestyle of modern-day people. Sports athletes not only give pleasure to the public, but also play a role in elevating a nation's reputation through sports. Tennis is popular with the public, and women players receive tennis wear from various sports companies to promote the designs to the public. This study considers the design-related characteristics of women's tennis wear through content analysis of design elements from the tennis wear in four major tournaments over the most recent five years. This is important in order to provide basic data on design directions for tennis wear in the future. The results of this study are as follows. First, the silhouette plays a role in enhancing activity by considering the physical movement of tennis players who are very active. Second, color emphasizes the rules and clarity of traditional tennis tournaments, and reflects a diversified trend in tennis wear by considering smooth game play by players and combining popular colors in the year. Third, patterns and decorations on material are used as a means to emphasize the esthetics of tennis wear, and tape plays an auxiliary role in emphasizing the physical beauty of women or preventing physical movement causing injury. In addition, sponsor logos are generally located at the center of the chest of tennis wear tops by mixing letters and images. This can be interpreted as a part of the marketing strategy to enhance clarity of the sponsor's brand.

• Asia Marketing Journal
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• v.15 no.1
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• pp.129-154
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• 2013

Product-harm crises, which are connected to defective or dangerous products, are perceived as the most common threats to a company. Product harm crises can distort long standing favorable equality perceptions, tarnish a company's reputation, cause major revenue and market-share losses, lead to costly product recalls, and devastate a carefully nurtured brand equity. However, in spite of the devastating impact of product-harm crises, little systematic research exists to asses its marketing consequences. So, the purpose of this study is to investigate how Koreans react to the crisis response in the aftermath of different crises(competence violation vs. integrity violation) and inspire additional research in crisis communication. This study has three main findings which run counter to the assumptions of Kim et al.(2007). Namely, the current study expands on the research of Kim et al. (2004, 2007) by examining how companies repair customers' trust and corporate attitude after crises. Different from previous studies, this study assumes that apology for an integrity-based crisis is the most appropriate way to repair consumer trust and corporate attitude. As for competence-based crisis, similarly, apology for competence-based crisis can be more successful repairing consumer trust and corporate attitude. Concerning silence strategy, remaining silent dose not admit or deny guilt right away, but instead of asking the perceiver to withhold judgment, suggesting that, silence could be expected to be superior to apology but inferior to denial. Finally, apology for competence violation will be expected to bemore effective than apology for integrity violation. Research conceptual model was as follows: According to the results, apology is found to be the most effective strategy to repair corporate attitude no matter the crisis is perceived as a violation of competence or integrity. Second, company may consider keeping silent as a desirable response because they does not admit nor deny responsibility but ask the public to withhold judgment. However, the result of this study shows that, in the overall crisis situations, silence strategy did not differ significantly from the denial strategy, which suggested that the public wants explanation instead of uncertainty. Third, there was the interaction effect between crisis type and crisis response strategies. In this study, apology is more effective for the competence violated situation in terms of regaining consumer trust and repairing their attitude toward company, while the apology's effectiveness is lower for the integrity-violated situation. More specifically, when the crisis is perceived due to company's lack of ability(competence violation), consumer's trust belief and attitude toward the company is more easily to repair when the company issued a sincere apology. Damaged product is perceived less intentional so participants are more likely to give the company second chance when they apology to the public. By contrast, exaggerated advertisement(integrity violation) is perceived intentionally and thus makes participants angrier toward the accused company. Although apology is perceived as the most effective strategy, when issuing apology, it also means the company admitted their intention. Therefore, in this kind of crisis situation, trust repair needs not only a sincere apology but additional efforts.

• Asia Marketing Journal
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• v.12 no.4
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• pp.113-136
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• 2011

Product harm crises can distort long standing favorable equality perceptions, tarnish a company's reputation, cause major revenue and market-share losses, lead to costly product recalls, and devastate a carefully nurtured brand equity. However, in spite of the devastating impact of product-harm crises, little systematic research exists to asses its marketing consequences. So, this study focuses on the negative publicity about companies and their products. Namely, this study presented how inclusion effect supported the relationship between negative publicity and consumers' response, market performance. According to the results, after negativity publicity was happened, it was appeared that the negativity image spread into other product lines(spillover effect; inclusion effect). Also, when they contact with the negative publicity, respondents negatively evaluated both production evaluation and corporate evaluation. And, in that case of the products with negativity publicity, compared with refutation strategy(defense strategy<study 2>), improving strategy(correction notice) had positive influence on recovery of sales, product evaluation, and corporate evaluation. Finally, as the reaction time toward negativity publicity was faster, the market performance got worse. Especially, according to two-way interaction, when the reaction time was fast, the difference between refutation strategy(defense strategy<study 2>) and improving strategy was not existed in product evaluation and corporate evaluation. However, when the reaction time was late(after a month), improving strategy had more positive evaluation than defense strategy in product evaluation, and corporate evaluation.

• Journal of Global Scholars of Marketing Science
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• v.18 no.2
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• pp.19-45
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• 2008

This study is to empirically examine the primary dimensions of visual merchandising (VMD) of internet shopping mall, namely store design, merchandise, and merchandising cues, to be a attractive virtual store to the shoppers. The authors reviewed the literature related to the major components of VMD from the perspective of the AIDA model, which has been mainly applied to the offline store settings. The major purposes of the study are as follows; first, tries to derive the variables related with the components of visual merchandising through reviewing the existing literatures, establish the hypotheses, and test it empirically. Second, examines the relationships between the components of VMD and the attitude toward the VMD, however, putting more emphasis on finding out the component structure of the VMD. VMD needs to be examined with the perspective that an online shopping mall is a virtual self-service or clerkless store, which could reduce the number of employees, help the shoppers search, evaluate and purchase for themselves, and to be explored in terms of the in-store persuasion processes of customers. This study reviewed the literatures related to store design, merchandise, and merchandising cues which might be relevant to the store, product, and promotion respectively. VMD is a total communication tool, and AIDA model could explain the in-store consumer behavior of online shopping. Store design has to do with triggering a consumer attention to the online mall, merchandise with a product related interest, and merchandising cues with promotions such as recommendation and links that induce the desire to pruchase. These three steps might be seen as the processes for purchase actions. The theoretical rationale for the relationship between VMD and AIDA could be found in Tyagi(2005) that the three steps of consumer-oriented merchandising are a store, a product assortment, and placement, in Omar(1999) that three types of interior display are a architectural design display, commodity display, and point-of-sales(POS) display, and in Davies and Ward(2005) that the retail store interior image is related to an atmosphere, merchandise, and in-store promotion. Lee et al(2000) suggested as the web merchandising components a merchandising cues, a shopping metaphor which is an assistant tool for search, a store design, a layout(web design), and a product assortment. The store design which includes differentiation, simplicity and navigation is supposed to be related to the attention to the virtual store. Second, the merchandise dimensions comprising product assortments, visual information and product reputation have to do with the interest in the product offerings. Finally, the merchandising cues that refer to merchandiser(MD)'s recommendation of products and providing the hyperlinks to relevant goods for the shopper is concerned with attempt to induce the desire to purchase. The questionnaire survey was carried out to collect the data about the consumers who would shop at internet shopping malls frequently. To select the subject malls, the mall ranking data announced by a mall rating agency was used to differentiate the most popular and least popular five mall each. The subjects was instructed to answer the questions after navigating the designated mall for five minutes. The 300 questionnaire was distributed to the consumers, 166 samples were used in the final analysis. The empirical testing focused on identifying and confirming the dimensionality of VMD and its subdimensions using a structural equation modeling method. The confirmatory factor analysis for the endogeneous and exogeneous variables was carried out in four parts. The second-order factor analysis was done for a store design, a merchandise, and a merchandising cues, and first-order confirmatory factor analysis for the attitude toward the VMD. The model test results shows that the chi-square value of structural equation is 144.39(d.f 49), significant at 0.01 level which means the proposed model was rejected. But, judging from the ratio of chi-square value vs. degree of freedom, the ratio was 2.94 which smaller than an acceptable level of 3.0, RMR is 0.087 which is higher than a generally acceptable level of 0.08. GFI and AGFI is turned out to be 0.90 and 0.84 respectively. Both NFI and NNFI is 0.94, and CFI 0.95. The major test results are as follows; first, the second-order factor analysis and structural equational modeling reveals that the differentiation, simplicity and ease of identifying current status of the transaction are confirmed to be subdimensions of store design and to be a significant predictors of the dependent variable. This result implies that when designing an online shopping mall, it is necessary to differentiate visually from other malls to improve the effectiveness of the communications of store design. That is, the differentiated store design raise the contrast stimulus to sensory organs to promote the memory of the store and to have a favorable attitude toward the VMD of a store. The results that navigation which means the easiness of identifying current status of shopping affects the attitude to VMD could be interpreted that the navigating processes via the hyperlinks which is characteristics of an internet shopping is a complex and cognitive process and shoppers are likely to lack the sense of overall structure of the store. Consequently, shoppers are likely to be alost amid shopping not knowing where to go. The orientation tool enhance the accessibility of information to raise the perceptive power about the store environment.(Titus & Everett 1995) Second, the primary dimension of merchandise and its subdimensions was confirmed to be unidimensional respectively, have a construct validity, and nomological validity which the VMD dimensions supposed to have a positive correlation with the dependent variable. The subdimensions of product assortment, brand fame and information provision proved to have a positive effect on the attitude toward the VMD. It could be interpreted that the more plentiful the product and brand assortment of the mall is, the more likely the shoppers to favor it. Brand fame and information provision as well affect the VMD attitude, which means that the more famous the brand, the more likely the shoppers would trust and feel familiar with the mall, and the plentifully and visually presented information could have the shopper have a favorable attitude toward the store VMD. Third, it turned out to be that merchandising cue of product recommendation and hyperlinks affect the VMD attitude. This could be interpreted that recommended products could reduce the uncertainty related with the purchase decision, and the hyperlinks to relevant products would help the shopper save the cognitive effort exerted into the information search and gathering, which could lead to a favorable attitude to the VMD. This study tried to sheds some new light on the VMD of online store by reviewing the variables mentioned to be relevant with offline VMD in the existing literatures, and tried to link the VMD components from the perspective of AIDA model. The effect size of the VMD dimensions on the attitude was in the order of the merchandise, the store design and the merchandising cues.It is said that an internet has an unlimited place for display, however, the virtual store is not unlimited since the consumer has a limited amount of cognitive ability to process the external information and internal memory. Particularly, the shoppers are likely to face some difficulties in decision making on account of too many alternative and information overloads. Therefore, the internet shopping mall manager should take into consideration the cost of information search on the part of the consumer, to establish the optimal product placements and search routes. An efficient store composition would be possible by reducing the psychological burdens and cognitive efforts exerted to information search and alternatives evaluation. The store image is in most part determined by the product category and its brand it deals in. The results of this study support this proposition that the merchandise is most important to the VMD attitude than other components, the manager is required to take a strategic approach to VMD. The internet users are getting more accustomed and more knowledgeable about the internet media and more likely to accept the internet as a shopping channel as the period of time during which they use the internet to shop become longer. The web merchandiser should be aware that the product introduction using a moving pictures and a bulletin board become more important in order to present the interactive product information visually and communicate with customers more actively, therefore leading to making the quantity and quality of product information more rich.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.31
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• pp.27-56
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• 2006

Today's financial institutions usually take environmental issues seriously into consideration as they could not evade lender liability in an increasing number of cases. On the international scene, a brand-new concept of the "Equator Principles" in the New Millenium has driven more and more international banks to adopt these Principles in project financing. Sustainable development has been a key word in understanding new trends of the governments, financial institutions, corporations and civic groups in the 21st century. The Equator Principles are a set of voluntary environmental and social guidelines for sustainable finance. These Principles commit bank officers to avoid financial support to projects that fail to meet these guidelines. The Principles were conceived in 2002 on an initiative of the International Finance Corporation(IFC), and launched in June 2003. Since then, dozens of major banks, accounting for up to 80 percent of project loan market, have adopted the Principles. Accordingly, the Principles have become the de facto standard for all banks and investors on how to deal with potential social and environmental issues of projects to be financed. Compliance with the Equator Principles facilitates for endorsing banks to participate in the syndicated loan and help them to manage the risks associated with large-scale projects. The Equator Principles call for financial institutions to provide loans to projects under the following circumstances: - The risk of the project is categorized in accordance with internal guidelines based upon the environmental and social screening criteria of the IFC. - For Category A and B projects, borrowers or sponsors are required to conduct a Social and Environmental Assessment, the preparation of which must meet certain requirements and satisfactorily address key social and environmental issues. - The Social and Environmental Assessment report should address baseline social and environmental conditions, requirements under host country laws and regulations, sustainable development, and, as appropriate, IFC's Environmental, Health and Safety Guidelines, etc. - Based on the Social and Environmental Assessment, Equator banks then make agreements with borrowers on how they mitigate, monitor and manage the risks through a Social and Environmental Management System. Compliance with the plan is included in the covenant clause of loan agreements. If the borrower doesn't comply with the agreed terms, the bank will take corrective actions. The Equator Principles are not a mere declaration of cautious banks but a full commitment of lenders. A violation of the Principles in the process of project financing, which led to an unexpected damage to the affected community, would not give rise to any specific legal remedies other than ordinary lawsuits. So it is more effective for banks to ensure consistent implementation of the Principles and to have them take responsible measures to solve social and environmental issues. Public interests have recently mounted up with respect to environmental issues on the occasion of the Supreme Court's decision (2006Du330) on the fiercely debated reclamation project at Saemangeum. The majority Justices said that the expected environmental damages like probable pollution of water and soil were not believed so serious and that the Administration should continue to implement the project seeking ways to make it more environment friendly. In this case, though the Category A Saemangeum Project was carried out by a government agency, the Supreme Court behaved itself as a signal giver to approve or stop the environment-related project like an Equator bank in project financing. At present, there is no Equator bank in Korea in contrast to three big banks in Japan. Also Korean contractors, which are aggressively bidding for Category A-type projects in South East Asia and Mideast, might find themselves in a disadvantageous position because they are generally ignorant of the environmental assessment associated with project financing. In this regard, Korean banks and overseas project contractors should care for the revised Equator Principles and the latest developments in project financing more seriously. It's because its scope has expanded to the capital cost of US$10 million or more across all industry sectors regardless of developing countries or not. It should be noted that, for a Korean bank, being an Equator bank is more or less burdensome in a short-term period, but it must be conducive to minimizing risks and building up good reputation in the long run.

• Korean Security Journal
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• no.28
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• pp.103-130
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• 2011

This study is the research of enterprise security for raising the profitability and stability of Korean companies in global business environment and strategic cooperation of business. As the scientific technology gets complicated as day goes by and new competitors appear regardless the border in the modern business environment, the situation happens frequently which the huge company hands over their market to the new one armed with the innovative thinking overnight. To survive such new environment, the answer is the change of paradigm regarding business management method at the new point of view. With the low level of security risk management of Korean companies which stick to old habit, the security management which helps the companies secure profits is not affordable. The global village where the population of 7 billions live in 21st century is facing up to the rapid ecological adaptation. The rapid change of climatic environment creates the hundreds of thousands of sufferers in a moment, and we have been watching the millions of livestock are buried alive due to new contagious disease everyday. Such change encourages the humans in global village to change the basic way of living. The business ecosystem which is the basic root for economic life cannot be an exception. To survive the business environment of 21st century, the security risk management at management level is required and the reporting line of companies should be established newly for raising business competing power through security risk management. The companies should bear in mind that they can be disappeared into our old memories overnight if they are not sensitive to the changing environment. Out of new risks for the modern companies, the field especially Korean companies are dealing easily is the security risk. Not like past, the security risk which's size is much more massive and its propagation velocity is very fast is the one of important business risks which the management should take care. Out of security risks which influence on the modern companies significantly, the brand of companies, protection of their reputation, continuity of production and operation and keeping customer's trust are prior to the others. This study offered the suggestion regarding enterprise security and the strategic cooperation of business to deal with such security risk effectively.