• Title/Summary/Keyword: Decision-making Process

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The Outcome of the 6th ICAO Worldwide Air Transport Conference and Fair Competition Policy in International Air Transport (국제항공운송의 최근 동향과 항공운송의 공정경쟁정책 -ICAO 제6차 세계항공운송회의 결과를 중심으로-)

  • Shin, Dong-Chun
    • The Korean Journal of Air & Space Law and Policy
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    • v.28 no.1
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    • pp.97-114
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    • 2013
  • The 6th Worldwide Air Transport Conference was held in Montreal in March 2013 under the auspices of ICAO. This conference, which has been held every ten years, is dealing with virtually every issue of international air transport, and aiming at updating ICAO policy in order to ensure long-term growth of international civil aviation. Last conference which took place in 2003 focused on the liberalization of air transport, and the 6th conference shifted its focus from whether to push for liberalization, to how to implement it. The main agenda items for the 6th conference was liberalization, safeguards, ownership, fair competition, airports and air navigation facilities, charges, and ICAO policy. The liberalization, and in particular progressive liberalization has been a main theme over the past decades. In the process leading to liberalization, there needs to be the expansion of market access, easing regulation on ownership and control of airlines. Furthermore, the provision of enough infrastructure such as airport and air navigation facilities may be contributing factor to remove impediments to liberalization. However, out of concern as for undermining interests of consumer and the weak, when liberalization is proceeding in a sudden and radical manner, there should be safeguards so as to ensure market participation by developing countries, consumer protection, and economical and transparent decision on taxes and charges. Fair competition which differs from promoting competition in the market, is a policy in order to protect the weak players and consumers from monopoly and oligopoly. The Korean delegation submitted 3 WPs (WP/85, 86 and 87) and 1 IP, and presented WPs, at the conference, which were a lot compared with previous occasions. A paradigm shift was emphasized to expedite the process of liberalization at the 6th conference. The reality is that with many previous recommendations to stress the importance of liberalization, and to urge States to change their attitudes, the pace of the liberalization has been very slow and staggering. The liberalization of air transport will contribute to the growth of air transport and related industry, to create new employment, promoting tourism and regional development, and further to facilitating mutual understanding and exchange, which will also lead to making a barrier-free world. In this context, it is expected that the next conference will also evaluate the on-going process of liberalization.

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Development of 3D Printed Snack-dish for the Elderly with Dementia (3D 프린팅 기술을 활용한 치매노인 전용 영양(수분)보충 식품섭취용기 개발)

  • Lee, Ji-Yeon;Kim, Cheol-Ho;Kim, Kug-Weon;Lee, Kyong-Ae;Koh, Kwangoh;Kim, Hee-Seon
    • Korean Journal of Community Nutrition
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    • v.26 no.5
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    • pp.327-336
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    • 2021
  • Objectives: This study was conducted to create a 3D printable snack dish model for the elderly with low food or fluid intake along with barriers towards eating. Methods: The decision was made by the hybrid-brainstorming method for creating the 3D model. Experts were assigned based on their professional areas such as clinical nutrition, food hygiene and chemical safety for the creation process. After serial feedback processes, the grape shape was suggested as the final model. After various concept sketching and making clay models, 3D-printing technology was applied to produce a prototype. Results: 3D design modeling process was conducted by SolidWorks program. After considering Dietary reference intakes for Koreans (KDRIs) and other survey data, appropriate supplementary water serving volume was decided as 285 mL which meets 30% of Adequate intake. To consider printing output conditions, this model has six grapes in one bunch with a safety lid. The FDM printer and PLA filaments were used for food hygiene and safety. To stimulate cognitive functions and interests of eating, numbers one to six was engraved on the lid of the final 3D model. Conclusions: The newly-developed 3D model was designed to increase intakes of nutrients and water in the elderly with dementia during snack time. Since dementia patients often forget to eat, engraving numbers on the grapes was conducted to stimulate cognitive function related to the swallowing and chewing process. We suggest that investigations on the types of foods or fluids are needed in the developed 3D model snack dish for future studies.

The Development and Effectiveness of a PBL Based Career Education Program (PBL 기반 진로교육 프로그램의 개발 및 효과검증)

  • Lee, Hye-Suk;Kim, You-Me
    • The Korean Journal of Elementary Counseling
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    • v.8 no.1
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    • pp.33-50
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    • 2009
  • The purpose of this study was to develop a PBL-based career education program and to examine its effectiveness on school children's career maturity. It's specifically meant to prepare a career education program to assist students to get an accurate grip on their aptitude, interest and personality and explore various sorts of occupations in the course of solving authentic and contextual career-related problems. After children's developmental characteristics and needs were analyzed, task analysis was implemented, and the objectives were defined. And then the core of the program, PBL problems were developed, and the validity of the problems were verified Evaluation plans and tools were prepared to assess children's problem-solving process and presentation, and an online learning space was designed. The program that consisted of 10-minute 21 sessions was provided to fifth-grade elementary schoolers for eight weeks. The findings of the study were as follows: The experimental group that participated in the PBL-based career education program showed a more significant improvement than the control group that didn't in career attitude and three career attitude subfactors involving planness, disposition and compromise. And the former made a more significant progress than the latter in career ability and its subfactors including vocational comprehension, self-understanding and decision-making skills as well. As a result of making a content analysis to make up for the survey, the students reported that they were able to get an objective understanding of themselves and acquire diverse and profound knowledge on work and the business world in the middle of solving the given PBL problems related to different areas in group and giving a presentation. In conclusion, a PBL based career education program developed by this researcher encouraged the students to have an objective self-understanding, to have a dynamic interactive discussion with their group members. Therefore the program had a positive impact on boosting the career attitude and career ability of the elementary schoolers. The findings suggested that in the field of elementary career education, autonomous learning attitude and subjecthood are the crucial factors to stimulate school children to explore and create their own future.

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Perceptions of Caregivers and Medical Staff toward DNR and AD (Do Not Resuscitate (DNR)와 Advance Directives (AD)에 대한 환자 보호자와 의료인의 인식)

  • Lee, Sun Ra;Shin, Dong-Soo;Choi, Yong-Jun
    • Journal of Hospice and Palliative Care
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    • v.17 no.2
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    • pp.66-74
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    • 2014
  • Purpose: This study is aimed to investigate perceptions of caregivers and medical staff toward do not resuscitate (DNR) and advance directives (AD). Methods: Participants were 141 caregivers and 272 medical staff members from five general hospitals. A questionnaire used for the study consisted of 20 items: 14 about DNR perceptions, three about AD, one each for age, gender and employment. Results: Both medical staff and caregivers strongly recognized the need for DNR and AD, and the level of recognition was higher with medical staff than caregivers (DNR ${\chi}^2=44.56$, P=0.001; AD ${\chi}^2=16.23$, P=0.001). The main reason for the recognition was to alleviate sufferings of patients in the terminal phase. In most cases, DNR and AD were filled out when patients with terminal conditions were admitted, and patients made the decisions by consulting with their guardians. Medical staff better recognized the need and for growing demand for guidelines for the DNR and AD decision making process than caregivers (${\chi}^2=7.41$, P=0.0025). Conclusion: This study showed that patients highly rely on their caregivers when making decisions for DNR and AD. Thus, it is important that patients and caregivers are provided with objective information about the decisions. Since participants' strong support for DNR and AD was mainly aimed at alleviating patients' suffering, further study is needed in the association with hospice care. Medical staff also needs to understand the different views held by caregivers and fully consider the disparity when informing patients/caregivers to make the DNR and AD decisions.

Preliminary Landscape Improvement Plan for Gu-ryong Village (구룡 해안마을 경관형성 기본계획)

  • Kim, Yun-Geum;Choi, Jung-Min
    • Journal of the Korean Institute of Landscape Architecture
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    • v.40 no.6
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    • pp.23-34
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    • 2012
  • This Study is about the "Comprehensive Landscape Improvement Plan for Gu-ryoung Seaside Village that was one of most exhibited projects for developing sea villages." The formulations of the plan were supervised by the Ministry of Land, Transport, and Maritime Affairs and were executed by the Goheung Country. Rather than proposing renovations for the landscape, this study maintains the existing order and attempts to examine the plan by scrutinizing the vernacular design language of the landscape. In the study, community members had the opportunity to express their opinions and ideas about the community through workshops composed of community participation programs, and participated in the decision-making process through consultation meetings. The conclusion of this study was relevant to the activities of the committee on landscape improvement. The Comprehensive Landscape Improvement Plan has three objectives: (1) resorting and modifying the natural landscape, (2) restructuring the roadways, and (3) modifying key spaces. In the end, the role of Gu-ryong Mountain as a background of the landscape was focused on tree planting drives that were undertaken, and accessibility to the sea front was improved. Second, in restructuring the roadways, rough roads were restored and unconnected roads were connected to ensure a network of roads along the sea front, inner roads in the village, roads at the Fringes Mountains, and stone roads on the mud flat. In addition, roads were named according to the character of the landscape and signs were installed. Finally, the existing key spaces, in which community members came together, were restored and new key spaces were created for the outdoor activities of the inhabitants and the diverse experience of visitors. A guideline was also created to regulate private areas such as roofs, walls, fences of residential buildings, and private container boxes and fishing gear along the sea front. The strength of this study is that it is seeking to determine the greatest potential of the landscape and set the plan by examining the lives of community members. Some problems were found during the development of this study. Further, there were problems in the community's understanding as elaborated below. First is the gap between community members' awareness and practice. Even though they were aware of the problems with the village landscape, they hesitated to implement improvements. Second, community members have misunderstandings about the landscape the improvement plan. The local government and the residents have understood this plan as a development project; for example, new building construction or the extension of roads. Third, residents are not aware that continuous attention and improvements are required for the upkeep of the landscape in the sea village. The plan to improve the landscape should promote a balance between making the area as a tourist attraction and maintaining the lives and cultural activities, because the sea village system incorporates settlements, economy, and culture.

Valuation of Mining Investment Projects by the Real Option Approach - A Case Study of Uzbekistan's Copper Mining Industry - (실물옵션평가방법에 의한 광산투자의 가치평가 -우즈베키스탄 구리광산업의 사례연구를 중심으로-)

  • Makhkamov, Mumm Sh.;Kim, Dong-Hwan
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.8 no.6
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    • pp.1634-1647
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    • 2007
  • "To invest or not to invest?" Most business leaders are frequently faced with this question on new and ongoing projects. The challenge lies in deciding what projects to choose, expand, contract, defer, or abandon. The project valuation tools used in this process are vital to making the right decisions. Traditional tools such as discounted cash flow (DCF)/net present value (NPV) assume a "fixed" path ahead, but real world projects face uncertainties, forcing us to change the path often. Comparing to other traditional valuation methods, the real options approach captures the flexibility inherent to investment decisions. The use of real options has gained wide acceptance among practitioners in a number of several industries during the last few decades. Even though the options are present in all types of business decisions, it is still not considered as a proper method of valuation in some industries. Mining has been comparably slow to adopt new valuation techniques over the years. The reason fur this is not entirely clear. One possible reason is the level and types of risks in mining. Not only are these risks high, but they are also more numerous and involve natural risks compared with other industries. That is why the purpose of this study is to deal with a more practical approach to project valuation, known as real options analysis in mining industry. This paper provides a case study approach to the copper mining industry using a real options analysis. It shows how companies can minimize investment risks, exercise flexibility in decision making and maximize returns.

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Synthetic Data Generation with Unity 3D and Unreal Engine for Construction Hazard Scenarios: A Comparative Analysis

  • Aqsa Sabir;Rahat Hussain;Akeem Pedro;Mehrtash Soltani;Dongmin Lee;Chansik Park;Jae- Ho Pyeon
    • International conference on construction engineering and project management
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    • 2024.07a
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    • pp.1286-1288
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    • 2024
  • The construction industry, known for its inherent risks and multiple hazards, necessitates effective solutions for hazard identification and mitigation [1]. To address this need, the implementation of machine learning models specializing in object detection has become increasingly important because this technological approach plays a crucial role in augmenting worker safety by proactively recognizing potential dangers on construction sites [2], [3]. However, the challenge in training these models lies in obtaining accurately labeled datasets, as conventional methods require labor-intensive labeling or costly measurements [4]. To circumvent these challenges, synthetic data generation (SDG) has emerged as a key method for creating realistic and diverse training scenarios [5], [6]. The paper reviews the evolution of synthetic data generation tools, highlighting the shift from earlier solutions like Synthpop and Data Synthesizer to advanced game engines[7]. Among the various gaming platforms, Unity 3D and Unreal Engine stand out due to their advanced capabilities in replicating realistic construction hazard environments [8], [9]. Comparing Unity 3D and Unreal Engine is crucial for evaluating their effectiveness in SDG, aiding developers in selecting the appropriate platform for their needs. For this purpose, this paper conducts a comparative analysis of both engines assessing their ability to create high-fidelity interactive environments. To thoroughly evaluate the suitability of these engines for generating synthetic data in construction site simulations, the focus relies on graphical realism, developer-friendliness, and user interaction capabilities. This evaluation considers these key aspects as they are essential for replicating realistic construction sites, ensuring both high visual fidelity and ease of use for developers. Firstly, graphical realism is crucial for training ML models to recognize the nuanced nature of construction environments. In this aspect, Unreal Engine stands out with its superior graphics quality compared to Unity 3D which typically considered to have less graphical prowess [10]. Secondly, developer-friendliness is vital for those generating synthetic data. Research indicates that Unity 3D is praised for its user-friendly interface and the use of C# scripting, which is widely used in educational settings, making it a popular choice for those new to game development or synthetic data generation. Whereas Unreal Engine, while offering powerful capabilities in terms of realistic graphics, is often viewed as more complex due to its use of C++ scripting and the blueprint system. While the blueprint system is a visual scripting tool that does not require traditional coding, it can be intricate and may present a steeper learning curve, especially for those without prior experience in game development [11]. Lastly, regarding user interaction capabilities, Unity 3D is known for its intuitive interface and versatility, particularly in VR/AR development for various skill levels. In contrast, Unreal Engine, with its advanced graphics and blueprint scripting, is better suited for creating high-end, immersive experiences [12]. Based on current insights, this comparative analysis underscores the user-friendly interface and adaptability of Unity 3D, featuring a built-in perception package that facilitates automatic labeling for SDG [13]. This functionality enhances accessibility and simplifies the SDG process for users. Conversely, Unreal Engine is distinguished by its advanced graphics and realistic rendering capabilities. It offers plugins like EasySynth (which does not provide automatic labeling) and NDDS for SDG [14], [15]. The development complexity associated with Unreal Engine presents challenges for novice users, whereas the more approachable platform of Unity 3D is advantageous for beginners. This research provides an in-depth review of the latest advancements in SDG, shedding light on potential future research and development directions. The study concludes that the integration of such game engines in ML model training markedly enhances hazard recognition and decision-making skills among construction professionals, thereby significantly advancing data acquisition for machine learning in construction safety monitoring.

How Enduring Product Involvement and Perceived Risk Affect Consumers' Online Merchant Selection Process: The 'Required Trust Level' Perspective (지속적 관여도 및 인지된 위험이 소비자의 온라인 상인선택 프로세스에 미치는 영향에 관한 연구: 요구신뢰 수준 개념을 중심으로)

  • Hong, Il-Yoo B.;Lee, Jung-Min;Cho, Hwi-Hyung
    • Asia pacific journal of information systems
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    • v.22 no.1
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    • pp.29-52
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    • 2012
  • Consumers differ in the way they make a purchase. An audio mania would willingly make a bold, yet serious, decision to buy a top-of-the-line home theater system, while he is not interested in replacing his two-decade-old shabby car. On the contrary, an automobile enthusiast wouldn't mind spending forty thousand dollars to buy a new Jaguar convertible, yet cares little about his junky component system. It is product involvement that helps us explain such differences among individuals in the purchase style. Product involvement refers to the extent to which a product is perceived to be important to a consumer (Zaichkowsky, 2001). Product involvement is an important factor that strongly influences consumer's purchase decision-making process, and thus has been of prime interest to consumer behavior researchers. Furthermore, researchers found that involvement is closely related to perceived risk (Dholakia, 2001). While abundant research exists addressing how product involvement relates to overall perceived risk, little attention has been paid to the relationship between involvement and different types of perceived risk in an electronic commerce setting. Given that perceived risk can be a substantial barrier to the online purchase (Jarvenpaa, 2000), research addressing such an issue will offer useful implications on what specific types of perceived risk an online firm should focus on mitigating if it is to increase sales to a fullest potential. Meanwhile, past research has focused on such consumer responses as information search and dissemination as a consequence of involvement, neglecting other behavioral responses like online merchant selection. For one example, will a consumer seriously considering the purchase of a pricey Guzzi bag perceive a great degree of risk associated with online buying and therefore choose to buy it from a digital storefront rather than from an online marketplace to mitigate risk? Will a consumer require greater trust on the part of the online merchant when the perceived risk of online buying is rather high? We intend to find answers to these research questions through an empirical study. This paper explores the impact of enduring product involvement and perceived risks on required trust level, and further on online merchant choice. For the purpose of the research, five types or components of perceived risk are taken into consideration, including financial, performance, delivery, psychological, and social risks. A research model has been built around the constructs under consideration, and 12 hypotheses have been developed based on the research model to examine the relationships between enduring involvement and five components of perceived risk, between five components of perceived risk and required trust level, between enduring involvement and required trust level, and finally between required trust level and preference toward an e-tailer. To attain our research objectives, we conducted an empirical analysis consisting of two phases of data collection: a pilot test and main survey. The pilot test was conducted using 25 college students to ensure that the questionnaire items are clear and straightforward. Then the main survey was conducted using 295 college students at a major university for nine days between December 13, 2010 and December 21, 2010. The measures employed to test the model included eight constructs: (1) enduring involvement, (2) financial risk, (3) performance risk, (4) delivery risk, (5) psychological risk, (6) social risk, (7) required trust level, (8) preference toward an e-tailer. The statistical package, SPSS 17.0, was used to test the internal consistency among the items within the individual measures. Based on the Cronbach's ${\alpha}$ coefficients of the individual measure, the reliability of all the variables is supported. Meanwhile, the Amos 18.0 package was employed to perform a confirmatory factor analysis designed to assess the unidimensionality of the measures. The goodness of fit for the measurement model was satisfied. Unidimensionality was tested using convergent, discriminant, and nomological validity. The statistical evidences proved that the three types of validity were all satisfied. Now the structured equation modeling technique was used to analyze the individual paths along the relationships among the research constructs. The results indicated that enduring involvement has significant positive relationships with all the five components of perceived risk, while only performance risk is significantly related to trust level required by consumers for purchase. It can be inferred from the findings that product performance problems are mostly likely to occur when a merchant behaves in an opportunistic manner. Positive relationships were also found between involvement and required trust level and between required trust level and online merchant choice. Enduring involvement is concerned with the pleasure a consumer derives from a product class and/or with the desire for knowledge for the product class, and thus is likely to motivate the consumer to look for ways of mitigating perceived risk by requiring a higher level of trust on the part of the online merchant. Likewise, a consumer requiring a high level of trust on the merchant will choose a digital storefront rather than an e-marketplace, since a digital storefront is believed to be trustworthier than an e-marketplace, as it fulfills orders by itself rather than acting as an intermediary. The findings of the present research provide both academic and practical implications. The first academic implication is that enduring product involvement is a strong motivator of consumer responses, especially the selection of a merchant, in the context of electronic shopping. Secondly, academicians are advised to pay attention to the finding that an individual component or type of perceived risk can be used as an important research construct, since it would allow one to pinpoint the specific types of risk that are influenced by antecedents or that influence consequents. Meanwhile, our research provides implications useful for online merchants (both online storefronts and e-marketplaces). Merchants may develop strategies to attract consumers by managing perceived performance risk involved in purchase decisions, since it was found to have significant positive relationship with the level of trust required by a consumer on the part of the merchant. One way to manage performance risk would be to thoroughly examine the product before shipping to ensure that it has no deficiencies or flaws. Secondly, digital storefronts are advised to focus on symbolic goods (e.g., cars, cell phones, fashion outfits, and handbags) in which consumers are relatively more involved than others, whereas e- marketplaces should put their emphasis on non-symbolic goods (e.g., drinks, books, MP3 players, and bike accessories).

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Image Watermarking for Copyright Protection of Images on Shopping Mall (쇼핑몰 이미지 저작권보호를 위한 영상 워터마킹)

  • Bae, Kyoung-Yul
    • Journal of Intelligence and Information Systems
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    • v.19 no.4
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    • pp.147-157
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    • 2013
  • With the advent of the digital environment that can be accessed anytime, anywhere with the introduction of high-speed network, the free distribution and use of digital content were made possible. Ironically this environment is raising a variety of copyright infringement, and product images used in the online shopping mall are pirated frequently. There are many controversial issues whether shopping mall images are creative works or not. According to Supreme Court's decision in 2001, to ad pictures taken with ham products is simply a clone of the appearance of objects to deliver nothing but the decision was not only creative expression. But for the photographer's losses recognized in the advertising photo shoot takes the typical cost was estimated damages. According to Seoul District Court precedents in 2003, if there are the photographer's personality and creativity in the selection of the subject, the composition of the set, the direction and amount of light control, set the angle of the camera, shutter speed, shutter chance, other shooting methods for capturing, developing and printing process, the works should be protected by copyright law by the Court's sentence. In order to receive copyright protection of the shopping mall images by the law, it is simply not to convey the status of the product, the photographer's personality and creativity can be recognized that it requires effort. Accordingly, the cost of making the mall image increases, and the necessity for copyright protection becomes higher. The product images of the online shopping mall have a very unique configuration unlike the general pictures such as portraits and landscape photos and, therefore, the general image watermarking technique can not satisfy the requirements of the image watermarking. Because background of product images commonly used in shopping malls is white or black, or gray scale (gradient) color, it is difficult to utilize the space to embed a watermark and the area is very sensitive even a slight change. In this paper, the characteristics of images used in shopping malls are analyzed and a watermarking technology which is suitable to the shopping mall images is proposed. The proposed image watermarking technology divide a product image into smaller blocks, and the corresponding blocks are transformed by DCT (Discrete Cosine Transform), and then the watermark information was inserted into images using quantization of DCT coefficients. Because uniform treatment of the DCT coefficients for quantization cause visual blocking artifacts, the proposed algorithm used weighted mask which quantizes finely the coefficients located block boundaries and coarsely the coefficients located center area of the block. This mask improves subjective visual quality as well as the objective quality of the images. In addition, in order to improve the safety of the algorithm, the blocks which is embedded the watermark are randomly selected and the turbo code is used to reduce the BER when extracting the watermark. The PSNR(Peak Signal to Noise Ratio) of the shopping mall image watermarked by the proposed algorithm is 40.7~48.5[dB] and BER(Bit Error Rate) after JPEG with QF = 70 is 0. This means the watermarked image is high quality and the algorithm is robust to JPEG compression that is used generally at the online shopping malls. Also, for 40% change in size and 40 degrees of rotation, the BER is 0. In general, the shopping malls are used compressed images with QF which is higher than 90. Because the pirated image is used to replicate from original image, the proposed algorithm can identify the copyright infringement in the most cases. As shown the experimental results, the proposed algorithm is suitable to the shopping mall images with simple background. However, the future study should be carried out to enhance the robustness of the proposed algorithm because the robustness loss is occurred after mask process.

An Exploratory Study on Marketing of Financial Services Companies in Korea (한국 금융회사 마케팅 현황에 대한 탐색 연구)

  • Chun, Sung Yong
    • Asia Marketing Journal
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    • v.12 no.2
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    • pp.111-133
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    • 2010
  • Marketing financial services used to be easier. Today, the competition in financial services is fierce. Not only has the competition become more intense, financial services have also changed structurally. In an environment with various customer needs and severe competitions, the marketing in financial services industry is getting more difficult and more important than before. However, there are still not enough studies on financial services marketing in Korea whereas lots of research papers have been published frequently in some international journals. The purpose of this paper is (1)to review the literature on financial services marketing, (2)to investigate current marketing activities based on in-depth interview with financial marketing managers in Korea, and (3)to suggest some implications for future research on the financial services marketing. Financial products are not consumer products. In fact, they are not products at all in the way product marketing is usually described. Nor are they altogether like services. The financial industry operates in a unique way, and its marketing tasks are correspondingly complex. However, the literature review shows that there has been a lack of basic studies which dealt with inherent characteristics of financial services marketing compared to the research on marketing in other industries. Many studies in domestic marketing journals have so far focused only on the general customer behaviors and the special issues in some financial industries. However, for more effective financial services marketing, we have to answer following questions. Is there any difference between financial service marketing and consumer packaged goods marketing? What are the differences between the financial services marketing and other services marketing such as education and health services? Are there different ways of marketing among banks, securities firms, insurance firms, and credit card companies? In other words, we need more detailed research as well as basic studies about the financial services marketing. For example, we need concrete definitions of financial services marketing, bank marketing, securities firm marketing, and etc. It is also required to compare the characteristics of each marketing within the financial services industry. The products sold in each market have different characteristics such as duration and degree of risk-taking. It means that there are sub-categories in financial services marketing. We have to consider them in the future research on the financial services marketing. It is also necessary to study customer decision making process in the financial markets. There have been little research on how customers search and process information, compare alternatives, make final decision, and repeat their choices. Because financial services have some unique characteristics, we need different understandings in the customer behaviors compared to the behaviors in other service markets. And also considering the rapid growth in financial markets and upcoming severe competition between domestic and global financial companies, it is time to start more systematic and detailed research on financial services marketing in Korea. In the second part of this paper, I analyzed the results of in-depth interview with 20 marketing managers of financial services companies in Korea. As a result, I found that the role of marketing departments in Korean financial companies are mainly focused on the short-term activities such as sales support, promotion, and CRM data analysis although the size and history of marketing departments to some extent show a sign of maturity. Most companies established official marketing departments before 2001. Average number of employees in a marketing department is about 58. However, marketing managers in eight companies(40% of the sample) still think that the purpose of marketing is only to support and manage general sales activities. It shows that some companies have sales-oriented concept rather than marketing-oriented concept. I also found three key words which marketing managers think importantly in financial services markets. They are (1)Trust in customer relationship, (2)Brand differentiation, and (3)Rapid response to customer needs. 50% of the sample support that "Trust" is the most important key word in the financial services marketing. It is interesting that 80% of banks and securities companies think that "Trust" is the most important thing, whereas managers in credit card companies consider "Rapid response to customer needs" as the most important key word in their market. In addition, there are different problems recognition of marketing managers depending on the types of financial industries they belong to. For example, in the case of banks and insurance companies, marketing managers consider "a lack of communication with other departments" as the most serious problem. On the other hand, in the case of securities firms, "a lack of utilization of customer data" is the most serious problem. These results imply that there are different important factors for the customer satisfaction depending on the types of financial industries, and managers have to consider them when marketing financial products in more effective ways. For example, It will be necessary for marketing managers to study different important factors which affect customer satisfaction, repeat purchase, degree of risk-taking, and possibility of cross-selling according to the types of financial industries. I also suggested six hypothetical propositions for the future research.

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