• Journal of the Korea Society for Simulation
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• v.20 no.2
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• pp.29-40
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• 2011

This paper focuses on the sensitivity analysis for the calibration of an agent-based simulation that analyzes the brand-level diffusion dynamics of competing products in the domestic premium mid-sized car market. In this paper, we employ a consumer-agent model that imitates the purchasing characteristics and behaviors of the consumers. The group of consumer agents that are socially interconnected represents a virtual market. By spreading the product information from previous adopters to potential consumer agents in the virtual market, the word-of-mouth phenomenon emerges like in the real market. The phenomenon influences the product choice of potential consumer agents that causes the variation of the product diffusion dynamics. In this simulation model, it is important to calibrate the virtual market parameters(e.g., ratio of innovators, social network structure, purchase time decision method) so that the virtual market can simulate the real market. However, it is difficult to measure these parameters directly from the real market. In this paper, we analyze the diffusion dynamics of simulations under various conditions in comparison with real sales data to calibrate the parameters.

• Environmental and Resource Economics Review
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• v.27 no.4
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• pp.695-723
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• 2018

Recently, extreme weather due to climate change has become more frequent, and increase of fine dust has worsen air quality in Korea. Therefore, not only negative perception on coal-fired power generation is dominant, but also the social acceptance of nuclear power generation declines. This study aims at deriving consumer preferences on the mid and long term power mix with various energy sources. Willingness to pay for each generation source was estimated and the preference heterogeneity of consumers was examined by using mixed logit and latent class models. Mixed logit estimation results show that the preference heterogeneity of consumers is especially large for the nuclear power relative to renewable or coal energy. According to the estimation results from the latent class model, group 1 prefers renewable energy while group 2 prefers coal energy. Group 3 shows lexicographic preference which means restricted rationality. As for the policy implication, it is necessary to understand the preference heterogeneity of consumer groups in planning the mid to long term power mix.

• Journal of Digital Convergence
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• v.19 no.6
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• pp.143-162
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• 2021

Research on consumers' perception and willingness to purchase Battery Electric Vehicles (BEVs) is necessary to simulate BEVs' deployment in South Korea because South Korea's BEVs market is still in the early stage. This paper derives a theoretical framework for consumer segmentation based on consumers' willingness to purchase before and after BEV usage experience. In particular, this study empirically evaluates consumers' willingness to purchase and concerns using the survey data from BEVs users in either Seoul or the Jeju region. The empirical results from logit models show that experienced consumers' concerns about the heater and air conditioning (HAC) in BEVs decreased the consumers' willingness to buy, while greater daily driving distances increased the consumers' willingness to buy. In addition, the empirical findings from ordered probit models show that experienced consumers' concerns about the short driving distance, the availability of maintenance service (i.e., A/S service) during unexpected events, and the difficulties of driving BEVs up-hill increased the degree of concern about HAC. This paper will provide insights related to consumer segmentation, R&D, marketing strategies, and policy design for policymakers and firms.

• Journal of Digital Convergence
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• v.18 no.6
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• pp.255-269
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• 2020

This paper aims to analyze the factors influencing consumer's choice of smartphone purchase channel in multichannel environments. Recently, smartphone purchase channels are becoming more complex and diverse. A smartphone with a short purchase cycle is a product applying advanced technology, the research of this topic would be significant. The major findings of this study are as follows. First, depending on the consumer's shopping orientation, the consumer group was classified into three groups of preference 1. Active shopping, 2. Convenient shopping, and 3. Rational shopping. Second, it was analyzed that the consumer's shopping orientation influenced the decisions of the information search channel and the purchase channel. Third, there was a significant difference between the search and purchase channels in the three groups. Finally, in the channel experience, there was a significant difference in price satisfaction by group. The results of these studies are expected to provide practical implications for establishing a customized multi-channel strategy. This study provides a desirable model for research on smartphone purchase channels.

• Korea Journal of Hospital Management
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• v.16 no.2
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• pp.31-52
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• 2011

The cutthroat competition of the market for the medical services caused changes and developments of hospital management from the traditional provider-oriented management to a consumer-oriented management toward the customer. And the popularization of on-line community through the growth and spread of internet technology is developed into an important exploration activity to provide various medical information to patient(or customer) who wishes a high-quality medical services. This is an on-line Word-of-Mouth(WOM). It is a kind of information exploration that is performed by customers before choosing the hospital with off-line word-of-mouth. In this study, we develop our research model to verify the causal relationships among on/off-line WOM, key determinants of hospital choice and the customer's will to make use of the hospitals, and total effect of these variables. We adopt a component-based PSL method for an empirical analysis of the patients experienced dermatology or obstetrics gynecology. Finally, we understand the characteristics of the various medical services and draw new and significant strategic previews.

• Knowledge Management Research
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• v.16 no.3
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• pp.149-169
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• 2015

In this study, we try to understand the role of online social recommendation and the similarity of preferences between the recommender and the recommendee on consumer decisions in the framework of the two stage purchase decision-making process. Applying construal level theory to our context, we expect that the role of social recommendation and the similarity of preferences would vary over the stages in the two-stage decision making process. To test our hypotheses, we collected the data through an incentive compatible experiment, and analyzed the data with nested logit model. As a result, we found that the role of online social recommendation varies over the stages. Consumers take recommendation from similar others at the stage of consideration set formation, but no longer consider it at the stage of final choice. Consumers take recommendation from dissimilar others at the stage of consideration set formation. At the stage of final choice, however, consumers avoid choosing the option recommended by dissimilar others. The results of our study enrich the understanding about the role of social recommendation, and have implication to marketing practitioners who attempt to make online social recommendation system more efficient.

• Journal of the Korean Society of Clothing and Textiles
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• v.27 no.8
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• pp.1004-1013
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• 2003

This study addressed an ill-understood issue of a price response model and a monopolistic price interval of fashion goods. The concept of monopolistic price interval introduced by Gutenberg has been rarely applied to the fashion goods, which is known as price sensitive goods. Thus, this study examined the price insensitive zone of the blue jean. The data of 268 respondents were analyzed using Choice-based Conjoint (CBC) analysis and t-test. Considering brand consideration set as a price determinant, we found the presence of monopolistic price interval of the jean. The results obtained from the CBC analysis showed that the bigger the size of brand consideration set, the shorter the monopolistic interval. This implied that the consumer who had a small brand consideration set was more likely to have a longer monopolistic price interval than the one who had a large brand consideration set, since the consumer with a small consideration set tended to value brand itself more than price. Although significant monopolistic price intervals were shown only for the three jean brands out of the seven, to reduce the size of brand consideration set and to increase brand loyalty were found important in maximizing firms'financial profits.

• The Korean Journal of Food & Health Convergence
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• v.9 no.3
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• pp.1-9
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• 2023

Nowadays, with the development of the internet and e-commerce, opening tea shops online has become an increasing choice for selling tea. However, the product page information of many online tea shops cannot effectively attract consumers, resulting in their profits being compromised. To investigate this, we conducted this paper and hope to provide effective suggestions. This paper is based on 229 questionnaires and selects the product page information of online tea shops as the research object. Using the four dimensions of perceived value theory as independent variables with consumer purchase intention as the dependent variable. A structural equation model was constructed to analyze the role of the perceived value of product page information in online tea shops how influencing consumers' purchase intentions. It was found that information on the perceived functional value of online tea shops did not have a significant positive effect on consumer purchase intentions. However, information on the perceived monetary value, perceived social value, and perceived emotional value of online tea shops had a significant positive impact on consumers' purchase intentions. Based on the above conclusions, online tea shops should focus on the expression of product page information to enhance the level of consumers' perceived value of tea products, thereby enhancing their intention to purchase tea products.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.52 no.6
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• pp.333-339
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• 2003

Competition among electric generation companies is a major goal of restructuring in the electricity industry. In electricity market, a huge volume of commodities will be traded through competitive bidding. The choice between uniform and pay-as-bid pricing for electricity auction has been one of most important issues in deregulated electricity market. This paper proposes a constrained Bertrand model for analyzing the electricity auction market of price competition model. The issue of the two pricing rules of uniform and pay-as-bid is studied from the viewpoint of consumer's benefit. This paper also shows that transmission congestion depends on the pricing mechanism. Pay-as-bid pricing gives less possibility of transmission congestion by price competition, and less burden to consumers in the simulation results.

• Journal of Distribution Science
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• v.10 no.1
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• pp.33-42
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• 2012

This study is focused on traditional market's competitiveness in Korea. Ever since the Korean retail industry had been opened to the big conglomerates, the traditional markets have faced very serious competition from various types of distribution channels. In particular, this study has been conducted to find another way to help the Korean traditional market from the perspective of college students who are consumers of the future. This study examines the relationships among store choice attributions, consumption emotion, consumer's value, and relationship quality from the perspective of college students. In order to verify the relationship, and moderating and mediating effects, data were collected from 126 college students in Whasung, Gyeonggi Province to test the theoretical model and its hypotheses. The results of this study are as follows: First, service (= .263, p < .01) and advertising (= .188, p < .05) are significantly positively related to relationship quality. However, store atmosphere (= .176, p = .052) is not statistically significantly related to relationship quality. The result that students have stereotypes about the atmosphere of traditional markets and are therefore excluded from their store choice attributions can be expected. Second, college students selected service division (= .230, p < .05) as the most important factor among the traditional market's store choice attributions. This result reflected that enhancing service strategy would strengthen the traditional market against discount stores. The process of product selection by customers in discount stores is based on the concept of self-service. However, traditional market traders can make various contacts with their customers. If traditional market traders can enhance various service factors just like in the process of product selection, it will effect strong competitive advantages. Third, it is also revealed that consumer's value exhibit complete mediation effect in the relationships between service and advertising. These results showed that traditional markets must be considered for consumer value. Because previous studies showed that values refer to "enduring belief that … specific mode of conduct or end-stat of existence … personally or socially preferable to an opposite of converse mode of conduct or end-state of existence" (Rokeach, 1973; George and Jones, 1996). Furthermore, Schwartz (1994) defined values as desirable trans-situational goals, varying in importance, that serve as guiding principles in the life of a person or other social entity. As conceptions of desirable end-states of existence or modes of conduct, values help people choose, evaluate, and give meaning to their experiences (Rokeach, 1973). Efforts (e.g. promote the consumers value) of the traditional market traders will improve the preferences for the traditional market of consumers and college students. Implications and future research directions are also discussed.