• The Research Journal of the Costume Culture
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• v.32 no.2
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• pp.148-163
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• 2024

With the digitalization of production and consumption environments, consumers are no longer merely targets of marketing, but key players in creating value jointly with companies by participating in various decision-making processes. Much virtual content in particular, such as fashion shows, exhibitions, games, social activities, and shopping, which fashion brands implement in virtual worlds, cannot be completed without consumers' active engagement and interaction. Thus, this study considers consumers' participation in virtual content provided by fashion brands as value co-creation in virtual worlds. This study aims to examine how consumer (i.e., consumer smartness) and fashion firm (i.e., perceived intellectual capital) factors influence value co-creation behavior intention in virtual worlds. Data were collected from 410 consumers in their 20s nationwide through an online survey, and a higher-order structural equation modeling analysis was conducted to test the research model. The results showed that both consumer smartness and perceived intellectual capital positively influenced customer participation behavior and citizenship behavior intentions. Specifically, perceived intellectual capital had a greater impact on value co-creation behavior in the virtual world than consumer smartness. The findings provide empirical evidence that the fashion firms' intangible assets and consumers' competence in the digital shopping environment encourage their intentions to co-create value in virtual worlds.

• Journal of Korean Society for Quality Management
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• v.46 no.3
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• pp.695-706
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• 2018

Purpose: This study investigates success factors of ENEX which is a leading company in the kitchen furniture industry in South Korea, based on the perspective of customer satisfaction and corporate social responsibility. ENEX has grown to a successful mid-sized firm with competitive technology as a result of pursuing customer-oriented management since its establishment in 1971. Methods: Recognizing the importance of customer satisfaction, this study analyzed several cases of customer-oriented management of ENEX and interpreted their findings. Results: The successful embedment of customer satisfaction DNA in the whole organization is a major success factor of ENEX. It has been applying 7 WISE policy to all business processes from the product development to after-service to create customer value. Also, top management has fully exercised leadership to make customer-oriented organization, leading to ENEX being a competitive firm to provide products and services which can impress customers. Conclusions: ENEX has conducted various social activities based on corporate social responsibility. This study would also provide meaningful insights to understand the importance of customer-oriented management.

• Asia Marketing Journal
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• v.20 no.4
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• pp.21-47
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• 2019

This study empirically examines the synergy effect of a corporate-level loyalty program on customer equity (CE) known as the lifetime value of current and future customers (Blattberg et al. 2009). A corporate-level loyalty program refers to a company-wide integration loyalty program at the corporate-level in which subsidiaries (multi-divisions) participate as program members. It does not merely examine whether there is an integration effect of a corporate-level loyalty program from the CE perspective, but it provides practical implications for a firm's strategic focus by identifying which value creation channels (i.e., acquisition, retention, and cross-selling), brand characteristics (i.e., size of the customer base before integration, diversity of products, and sales channel type), and consumer characteristics (i.e., customer relationship stage, transaction amount before integration, transaction period, and number of purchased brands) are affected the most by the synergy effect.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.6
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• pp.303-312
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• 2022

Nowadays, omnichannel is a new kind of e-commerce channel. Many retailers invest in this channel to maximize customers' benefits as well as increase competitive advantage and business performance. To operate this channel effectively, the role of IT competence is very important. With the flexibility and integration of IT competence in omnichannel, retailers can optimize service quality and bring customer benefits that are outstanding in comparison with the traditional channel. Because of this significance, this research was carried out to evaluate the effects of IT competence on the business performance of retailers in Vietnam's omnichannel environment through the mediating role of customer value creation and competitive advantage. A quantitative research method is used through a survey with 200 managers working in retail companies operating omnichannel in Vietnam. After collecting data, PLS-SEM software is used to analyze the relationship among these above factors in omnichannel. The results prove that there are positive effects of IT competence on other elements in the research model. All direct and indirect effects are valuable when bootstrapping. Based on the results, some managerial implications are given to managers of retail companies using omnichannel to improve customer values and increase competitive advantage and business performance in the Vietnam context.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.40 no.4
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• pp.1-9
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• 2017

Companies must capture value for sustainable growth. Capturing value is a critical task for companies, particularly when operating own businesses and organizations or starting new business. The business strategy of many companies focuses on capturing the maximum value from customers and other stakeholders. Even though a wide range of studies on value creation and appropriation has been conducted in the strategic management field, most of studies are still conceptual and theoretical. Thus more empirical studies are required to suggest future-oriented value strategy. This study reveals the value creation and appropriation elements in the aviation industry of Korea. The purpose of this study is to understand the trend of value creation and appropriation in the industry. In addition, the relationship between the elements and firm's performance are tested. The firm's performance is defined by that past and future point of views. The sample were collected from Korean Air and Asiana Air. The empirical test shows that the elements of value creation-appropriation have significant impact on firm's performance. Further, the element of value appropriation to customer has a positive impact both on firm's past and future performance. Our results show that investors acknowledge a value-based strategy as a sign of stock valuation. The results of this test correspond with the earlier one, showing that maximizing customers value rather than shareholder value does deliver impressive returns. The finding suggest that companies need to change their strategy to efficiently manage performance. With the test results, we propose a value-based strategy to maximize firm's future financial and stock performance.

• Journal of Information Technology Services
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• v.11 no.3
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• pp.39-48
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• 2012

It is essential that firm makes a rational and scientific decision making and creates a news value for the future direction. To do so, many firms attempt to collect meaningful data and find the filtered and refined implication for the better customer relationship and the active market drive through the various analytic tools. Among the possible IT solutions, utilization of 'Big Data' is becoming more attractive and necessary in such a way that it would help firms obtain the systemized and demanding information and facilitate their decision making process to keep up with the market needs. In this paper, it introduces the concepts and development of 'Big Data' recognized as a IT resource and solution under the rapidly changing firm environment. This study also presents the several firm cases using Big Data' and the Oracle's total data management and analytic solutions in order to support the application of 'Big Data'. Finally this paper provides a holistic viewpoint and realistic approach on use of 'Big Data' to create a new value.

• Journal of Distribution Science
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• v.21 no.2
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• pp.53-63
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• 2023

Purpose: This study aims to determine the effect of Customer Experience Management (CEM) on the distribution of Marketing Performance mediated by Digital Business Innovation (DBI), Digital Operational Excellence (DOE), and Digital Value Co-Creation (DVC) in Indonesia Information & Technology (IT) industry. Research design, data, and methodology: This research was conducted in two stages, namely exploratory and explanatory on IT companies in Indonesia. The authors took 132 samples using proportionate random sampling method in three groups of companies. Results: The results showed that CEM had no significant positive effect on the distribution of Marketing Performance. CEM has no direct effect on the distribution of Marketing Performance through the mediation of DBI. CEM has direct effect on the distribution of Marketing Performance through the mediation of DOE and DVC. DBI has no significant effect in increasing the distribution of Marketing Performance. However, DOE and DVC have a significant effect in increasing the distribution of Marketing Performance. Conclusion: The distribution of Marketing Performance can be indicated better through CEM through mediation.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.4
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• pp.1923-1931
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• 2014

A value creation is understood as important business strategy these days in both academics and industry. But this phenomenon is not fully understood based on systematized framework. In this paper, we summarized value research trend based on exploratory research and inductive reasoning by exploring both international and domestic journals. And we built a research framework that can analyze value creation between supplier and customer. Value research prior to 2004 is primarily divided into values of goods or services and relationship values. After 2004, service-dominant (SD) logic has been outlined. There are other research trends to see the relationship value in terms of relationship benefits and relationship in the network or supply chain. 4 critical resource types (financial resource, knowledge resource, efficiency resource, and intellectual resource) and 5 competence types (relational capability, collaboration capability, innovation capability, managing capability) are constructed as principal factors for value creation from inductive reasoning based upon a resource-based view (RBV) and a competence-based view (CBV). The research framework was built based on 4 resources and 4 competences.

• Culinary science and hospitality research
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• v.6 no.3
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• pp.119-147
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• 2000

This Study is performed to research a customer satisfaction to a Franchisee on the food franchise industry. In future, the food industry will be complicated and various. So customer needs also will be complicated. Consequently. a study of customer satisfaction will be researched continuously for corresponding an industrial transfiguration and a customer variety. The result of this study, a Franchisee satisfaction on the food franchise industry is evaluated below the average. This result can be happened by the scale of food franchise industry. However actually it has caused by the lack of Franchisee management mind, the capability of head office, and the lack of competitive power. The mind of service for customer, hygiene and cleanness mind, and the lack of marketing strategies and strategic management can not be satisfied of customer. Also customer value creation can not be made. So the education training and marketing strategies for Franchisee on the food franchise industry have to be requested. And a continuous study for customer satisfaction that correspond with the characteristics of industrial classification be raised.

• Journal of Korea Society of Industrial Information Systems
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• v.19 no.3
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• pp.127-136
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• 2014

As a new management paradigm, co-creation for creating new value through collaboration with stakeholders, including customers, distributers, suppliers, and partner organizations has been issued in the private and public organizations. To collectively create new value, effective communication tools among the interest groups should be provided. In fact, most of organizations have utilized information technology such as home pages and SNS for distributing information and respecting customer opinions. However, they are seriously experiencing in difficulty of systematic management and overlapped investment on information technology for co-creation. Thus, this study proposes the conceptual model for co-creation platform through case studies and it is verified by scenario analysis and experts. The study contributes to accumulate knowledge in the area of co-creation platform. It also defines the requirements and the functions for the design of co-creation platform for practitioners.