• Journal of the Korean Operations Research and Management Science Society
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• v.31 no.4
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• pp.105-123
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• 2006

Previous research on two-sided markets has, for the most part, concentrated on indirect network externalities between buyers alto sellers. This paper considers direct competition effect among sellers and among buyers as well as indirect network externalities. We develop an analytic model of C2C e-marketplaces and examine whether a monopolistic incumbent could successfully deter new entry into its market. We find that the effect of the number of sellers or buyers on the price of goods depends on whether sellers have decided to sell the goods using an auction or fixed pricing rule and on the characteristics of the goods. We argue that when the effect of the number of sellers on the price of goods is significantly larger than that of buyers, there is a high possibility of entry. In particular, we show that entry becomes more difficult to deter as fixed-price format is adopted more frequently or the proportion of collectables is relatively low.

• 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.

• KDI Journal of Economic Policy
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• v.12 no.2
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• pp.81-94
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• 1990

Illegal transactions such as blackmarketing and smuggling allegedly result from too restrictive trade policies. A recent U.S. Senate hearing on the blackmarketing of American goods imported into Korea for the purpose of supporting United States troops and their dependents stationed in Korea concluded with the allegation that Korea's highly restrictive trade practices are responsible for the emergence of the black market. It has also suggested that the removal of such restrictive trade policies would eliminate black market activities. This study addresses the relationship between trade policy and blackmarketing by investigating whether trade liberalization results in the reduction of illegal transactions, and whether the eradication of blackmarketing indeed improves social welfare. When both legally imported goods and illegally exchanged items command the same price, trade liberalization, meaning a decrease in tariff rates or an increase in import quotas, will increase the quantity of legal imports at the expense of illegally transacted goods on the black market. But the price of legally imported goods usually differs from that of illegally sold ones. In this case, a change in the relative prices of these two groups of goods due to a change in trade policy will give rise to income, as well as substitution, effects. Initially, a decrease in the import price due to a decrease in import tax rates or an increase in the allotted quota will reduce illegal transactions, since the decrease in the import price will induce the substitution of legal imports for illegally exchanged, but otherwise, identical goods. On the other hand, the demand for the illegally transacted goods will rise, because of the income effect of the reduced import price. Thus, assuming the positive income effect overwhelms the negative substitution effect, the demand for illegal goods will increase, thwarting the reduction of blackmarketing through trade liberalization. Yet, stepping up the enforcement measures which are geared to preventing blackmarketing itself will drastically reduce the extent of illegal transactions, since it increases the cost of blackmarketing and hence the price of the illegally transacted goods. What this study suggests is that the emergence of the black market in Korea should be attributed more to the excessive supply of duty-free goods imported through U.S. commissaries and exchanges than to the excessive demand for foreign goods. On the other hand, blackmarketing, in most cases, improves economic welfare, since it constitutes an increase in the "actual" amount of imported goods. Suppressing blackmarketing through stepped-up enforcement methods is beneficial only when the substitution effect of the legally transacted goods resulting from the increase in the price of the illegal goods prevails, since the increase in the demand for legal imports must override the decrease in the demand for black market goods as well as the negative income effect.

• Journal of the Korean Home Economics Association
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• v.41 no.9
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• pp.69-83
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• 2003

Today, because of the consumers who should constantly decide which to buy in a flood of information can't search for complete information by the limited time and the lack of the ability in evaluating the goods, the price being important as the information clue in consumers' goods or dependence on the price will be gradually increasing. The purpose of this study is to know how much price sensitivity recognized by consumers will have and effect on buying feeling of satisfaction in internet shopping mall. The result of this study is that the consumers' target-oriented behavior searching appropriate price for buying goods in internet shopping mall substantially elevates the price sensitivity and shapes the positive attitude toward the feeling of satisfaction. It is meaningful in that it has provided the base for studying the price sensitivity centering around some limited factors through actual proof of how the consumers respond to the price at this point of activating online transactions.

• Korean Journal of Human Ecology
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• v.13 no.6
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• pp.943-957
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• 2004

The purpose of this study is to 1) understand the importance of brands, which are known as one of the key purchasing points to consumers today; 2) 10 clearly clarify the various attributes of goods well-known to consumers; 3) to research the effect of the goods attributes on brand attitude. We examined 465 consumers to understand a purchase or a shopping habit with national and non-brand. The study used SPSS 11.0 package for a data analysis. Then using varimax rotation, we employed a factor analysis to analyze the data and obtain Cronbach ${\alpha}$ value. For more specific data analysis, we conducted t-test, regression analysis, and x2 analysis. The results are as followings: 1. The goods attribute is classified into product attribute, shop attribute, and price attribute. The product attribute is divided into wearability, labeling of size and quality, aesthetic expression, brand expression-harmony, textile-suitability, manageability and product assortment. The shop attribute is into shop environment, shopping convenience, promotion, salesperson service, convenience of location, shop's reputation. The price attribute is into price reasonability, price value, price economy, and price information. 2. The product attribute is different, by national and non-brands, in wearability, labeling of size and quality, brand expression-harmony, textile-suitability, manageability. The shop attribute had a significant difference in environment of shop and its reputation, and the price attribute had one only in price economy. 3. The brand attitude was affected by wearability, aesthetic expression, shop environment, price value, and price information. 4. Also, there exists a difference by demographic variables(age, job, academic background, marriage, income level) in brand attitude. For example, national brands have its consumers with the following variables: higher education, higher income, professional job, over 20s, and married.

• Journal of the Korean Society of Clothing and Textiles
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• v.31 no.7
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• pp.1075-1084
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• 2007

The purpose of this study is to find out the important factors and efficient strategies concerning internet marketing. This study tries to examine satisfaction of the on-line consumers on internet shopping mall via fashion products. To fulfill this objectives, a survey was conducted from May 15 to May 30 in 2006, and an subject of study is men and women aged from 10s to 40s in purchase experience of the fashion merchandise to internet shopping malls. Data collected over the internet, and analyzed the 205 subjects. The statistical analysis methods was frequency analysis, reliability analysis, factor analysis, multiple regression analysis. The empirical studies were summarized as follows. First, internet shopping mall's fashion goods attributes(goods characteristics, aesthetic expression, variety of goods) significantly affect consumer's utilitarian shopping value. Second, internet shopping mall good's price attributes(economical efficiency of price, price reasonableness, price value, price information, price discount) significantly affect consumer's shopping utilitarian shopping value and hedonic shopping value. Third, consumer's utilitarian shopping value and hedonic shopping value are positively related to the internet consumer's shopping satisfaction.

• Journal of Industrial Convergence
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• v.1 no.1
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• pp.41-70
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• 2003

Many researches on brand equity have been focused in definition about it, factors of it, and the process of formation. Most of them have been used by voluntary production category, as is durable goods or nondurable goods. But this study, using the model is developed by Foote, Cone & Be1ding(FCB) Company, classified four fields, high-low involvement, rationality(rational or sensitive) involvement. The selected goods is a sensitive high involvement(casual wear). This study investigate the effects of brand equity and search the influences of brand equity formation according to factors of marketing mix. To this goals, this study kept a literature survey and a demonstrative research. In literature survey, there are several definitions of brand and brand equity. The research model is derived from selected factors of marketing mix and former study. This study used the regression analysis to verify effects from brand equity through the selected marketing mix. The research data is collected from the capital area. The focus of this study is effects of brand equity according to marketing mix. The followings are results and suggestions of this study. First, in the price factors, the affirmative effects are revealed the perceived quality and the brand awareness in a rational high involvement goods, the perceived quality and the brand associations in a sensitive high involvement goods, all factors of brand equity in a rational low involvement goods, and the perceived quality in a sensitive low involvement goods. As summary, the important characteristics is the price factors to consumers, and consumers recognize that a high price means a high quality. Second, in the store image factors, the affirmative effects are revealed all brand equity factors in a rational high involvement and a sensitive high-low involvement. A good store image incites more interest, contact, and visit from potential consumer. And such store offers more consumer satisfaction, simulates more active and positive conversation to consumers. Third, in advertising spending factors, the affirmative effects are revealed the brand awareness and associations in a rational high involvement and a sensitive high involvement, all brand equity factors in a rational low involvement and a sensitive low involvement. An advertisement increases not only a brand awareness but also strong brand associations. Forth, in price promotion factors, the affirmative effects are revealed the brand associations in a rational high involvement, the negative effects are revealed all brand equity in sensitive high involvement. According the result about the effects of brand royalty through the brand equity factors, a perceived quality and brand associations have positive effects to brand royalty in all factors. Consumers choice a deep perceived quality than other competitive brand. So, brand equity will increase according to a qualitative grade of a perceived brand by consumers. Brand associations represent a quality and a degree of involvement. In conclusion, brand associations and equity have a positive relation each other. According to the analysis results about a brand royalty of selected marketing mix factors, the affirmative effects are revealed the store image and price promotion factors in a rational high involvement, the price and store image in a sensitive high involvement, and the price and advertising spending in a rational low involvement. The results about the affect of selected marketing mix factors according to brand equity, are the perceived quality in a high involvement, and all brand equity factors in a low involvement. The affirmative effects about a store image are revealed all equity factors in high-low involvement. In advertising spending factors, the affirmative effects are revealed the brand awareness and associations in a high involvement goods, and the perceived quality and the brand awareness in a low involvement goods. In price promotion factors, the affirmative effects are revealed the brand awareness in a low involvement goods, and the negative effects are revealed the brand awareness in a high involvement goods. According to a degree of involvement, the results of a brand royalty through a brand equity factors are following. The affirmative effects are revealed the perceived quality and the brand royalty in a high involvement goods, and the brand awareness are revealed a negative effect. The affirmative effects are revealed the perceived Quality and the brand associations in a low involvement goods. So, in a high involvement goods, the brand royalty is built by strong brand associations, but, in a low involvement goods, the brand royalty is built also by a perceived Quality and a brand awareness. This study have some concept of limitation. So, this study presents a future direction of research. First, a future study has to have more deep analysis for this study analyzed through a limited marketing mix factors. Second, a future research has to get mutual effects about brand equity of marketing mix factors for this study has an individual marketing decision factors. Third, for the future, a brand equity needs a research about a several goods such as services, profit or nonprofit, industrial products, culture, and so on. Forth, the research have to diversify a various data for population.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.13 no.12
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• pp.6097-6120
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• 2019

Online consumer reviews (OCRs) provide product information and recommendations especially pictures in reviews depict the true information about the product. This study investigates the influence of pictured reviews on online seller (for a particular product of a seller) rating with moderating effect of price, brand type (foreign vs local), goods type (experience vs search), and brand familiarity. Multiple robust linear regression analysis with moderation interaction and quadratic effect used to explain the relationship of the explanatory variables with the criterion variable. We collected cross-sectional data from the two most renowned Chinese online shopping platforms (B2C) of total 15,621 product links. Results show that higher number of reviews with a low ratio of picture reviews response negative effect on rating, whereas the lower number of reviews with a high ratio of picture reviews response positive effect on the rating. In overall picture in the reviews improve the online seller product rating. For the moderation effect, results show that price and brand familiarity have a positive interaction effect on the relation of pictured reviews and rating whereas experience goods have less negative effect comparing search goods. Finally, local brand has less negative interaction effect comparing foreign brand to pictured reviews and rating.

• KDI Journal of Economic Policy
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• v.32 no.3
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• pp.33-69
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• 2010

This paper examines the causes of the terms of trade decline in Korea since the mid-1990s, using the decomposition methodology suggested by Baxter and Kouparitsas (2000) as well as regression analysis. The main empirical results are summarized as follows. The decomposition exercise of changes in terms of trade showed that Korea's terms of trade decline for the past decade or so is attributable to goods price effect which were driven by the rise of oil prices relative to manufactures. The decomposition of terms of trade change for 55 countries showed that terms of trade decline due to goods price effect is a phenomenon that was commonly observed for exporters of manufactures since mid-1990s. These results suggest that external factors such as China's trade expansion, rather than internal factors, are mostly responsible for the decline in terms of trade. In accordance with these results, the regression results suggest that China's trade expansion contributed to Korea's terms of trade decline, especially in 2000s, by raising the import prices of oil and raw materials and lowering the export prices of manufacturing products.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2006.11a
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• pp.437-452
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• 2006

Previous research on two-sided markets has, for the most part, concentrated on indirect network externalities between buyers and sellers. This paper considers direct competition effect among sellers and among buyers as well as indirect network externalities. We develop an analytic model of C2C e-marketplaces and examine whether a monopolistic incumbent could successfully deter new entry into its market. We find that the effect of the number of sellers or buyers on the price of goods depends on whether sellers have decided to sell the goods using an auction or fixed pricing rule and on the characteristics of the goods. We argue that when the effect of the number of sellers on the price of goods is significantly larger than that of buyers, there is a high possibility of entry. In particular, we show that entry becomes more difficult to deter as fixed-price format is adopted more frequently or the proportion of collectables is relatively low.