• Title/Summary/Keyword: Hong Kong consumers

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Increasing Returns to Information and Its Application to the Korean Movie Market

  • Kim, Sang-Hoon;Lee, Youseok
    • Asia Marketing Journal
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    • v.15 no.1
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    • pp.43-55
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    • 2013
  • Since movies are experience goods, consumers are easily influenced by other consumers' behavior. For moviegoers, box office rank is the most credible and easily accessible information. Many studies have found that the relationship between a movie's box office rank and its revenue departs from the Pareto distribution, and this phenomenon has been named "increasing returns to information." The primary objective of the current research is to apply the empirical model proposed by De Vany and Walls (1996) to the Korean movie market in order to examine whether the same phenomenon prevails in the Korean movie market. The other purpose of the present study is to provide managers with useful implications about the release timing of a movie by finding different curvatures that depend upon seasonality. The empirical test on the Korean movie market shows similar results as prior studies conducted on the U.S., Hong Kong, and U.K. movie markets. The phenomenon of increasing returns is generated by information transmission among consumers, which makes some movies become blockbusters and others bombs. The proposed model can also be interpreted in such a way that a change in the rank has a nonlinear effect on the movie's performance. If a movie climbs up the chart, it would be rewarded more than its proportion. On the other hand, if a movie falls down in the ranks, its performance would drop rapidly. The research result also indicates that the phenomenon of increasing returns occurs differently depending on when the movies are released. Since the tendency of the increasing returns to information is stronger during the peak seasons, movie marketers should decide upon the release timing of a movie based on its competitiveness. If a movie has substantial potential to incur positive word-of-mouth, it would be more reasonable to release the movie during the peak season to enjoy increasing returns. Otherwise, a movie should be released during the low season to minimize the risk of being dropped from the chart.

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A Case Study on the Development of New Brand Concept through Big Data Analysis for A Cosmetics Company (화장품 회사의 빅데이터분석을 통한 브랜드컨셉 개발 사례분석)

  • Lee, Jumin;Bang, Jounghae
    • Knowledge Management Research
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    • v.21 no.3
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    • pp.215-228
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    • 2020
  • This study introduces the case of a company that newly jumped into the competitive cosmetics market with a brand concept developed through big data analysis. Skin Reverse Lab, which possesses anti-aging material technology, launched a new brand in the skincare cosmetics market. Using a big data analysis program called Luminoso, SNS data was analyzed in four areas, which were consumer attitudes toward overall cosmetics, skincare products, competitors, and consumers' experiences of product use. The age groups and competitors were analyzed through the emotional analysis technique including context, which is the strength of Luminoso, and insights on consumers were derived through the related word analysis and word cloud techniques. Based on the analysis results, Logically Skin have won various awards in famous magazines and apps, and have been recognized as products that meet global trend standards. Besides, it has entered six countries including the United States and Hong Kong. The Logically Skin case is a case in which a new company entered the market with a new brand by deriving consumer insights only from external data, and it is significant as a case of applying AI-based sentiment analysis.

Cross-Cultural Studies in Fashion Marketing Discipline (패션마케팅 영역에서의 비교문화적 연구의 경향)

  • Cho, Yun-Jin;Yang, Su-Zin;Kim, Eun-Young;Choo, Ho-Jung
    • Journal of the Korean Society of Clothing and Textiles
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    • v.30 no.8
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    • pp.1312-1322
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    • 2006
  • A recent accelerated globalization has changed every aspect of consumers' life on the globe, thus understanding the similarity and the difference among people in the world became the crucial element of business for many global companies. As one of the most globalized industries in Korea, fashion businesses also require urgent assistance of academics in understanding global consumers. This study aimed to analyze cross-cultural fashion marketing studies published in two respectful journals in fashion studies: Journal of Korean Society of Clothing and Textiles and Journal of the Korean Society of Costume. Four researchers independently searched the target journals to locate studies using cross-cultural approaches. A total of 45 cross-cultural studies published in two journals between 1977 and 2005 were found and analyzed. The major findings could be summarized as followed. First, the US was the most frequently studied country followed by China, Japan, Hong Kong and others. Second, popular subjects of cross cultural studies in fashion marketing were fashion marketing environment and management rather than consumer psychology. Third, about 78% of the sampled studies were using quantitative approach, and statistical methods such as factor analysis, t-test, ANOVA, and $X^2$ analysis were commonly used. Finally, problems in sampling methods, translation of scales, and equivalence of concept, measure and sample were analyzed. Suggestions for future cross-cultural studies were discussed.

A Study on the Multidimensional Consumption Value of Vietnamese MZ Generation -Focusing on the Relationship between Consumption Value Factors, Demographic Characteristics, and Global Consumption Propensity- (베트남 MZ세대의 다차원적 소비가치에 대한 연구 -소비가치 요인과 인구통계학적 특성 및 글로벌 소비성향의 관련성을 중심으로-)

  • Choo, Ho Jung;Jang, Ju Yeun;Baek, Eunsoo;Lee, Ha Kyung;Kim, Habin
    • Journal of the Korean Society of Clothing and Textiles
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    • v.46 no.5
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    • pp.848-867
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    • 2022
  • As an emerging market with rapid economic growth, while being a key region of the K-culture expansion, Vietnam draws increasing scientific attention. This study focuses on the MZ generation, Vietnam's leading consumer group, revealing their consumption value structure. An online survey was used for data collection purposes, investigating 368 Vietnamese consumers between 18-37 years of age. Six value dimensions were derived as results of the present analysis: functional, emotional, social, ethical, self-expression, and autonomy-oriented value. Among them, functional value includes two sub-dimensions of utility and price, while emotional value entails three sub-dimensions, namely hedonism, novelty, and aesthetics. 'Self-expression value' and 'autonomy-oriented value', reflecting the characteristics of the MZ generation, who actively express themselves and respect proactive decision-making, are becoming important standards of the consumption attitude of young Vietnamese. Moreover, the pursuit of 'novelty' was derived as a factor reflecting emotional values, revealing an association between hedonic consumption, and seeking for newness and difference. Furthermore, the relationships between each consumption value dimension, respective demographic characteristics, and global consumption propensity were investigated. The present findings aim to provide insights into young Vietnamese consumers' attitudes and intend to serve as a foundation for future research.

A Case Study of Shanghai Tang: How to Build a Chinese Luxury Brand

  • Heine, Klaus;Phan, Michel
    • Asia Marketing Journal
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    • v.15 no.1
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    • pp.1-22
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    • 2013
  • This case focuses on Shanghai Tang, the first truly Chinese luxury brand that appeals to both Westerners and, more recently, to Chinese consumers worldwide. A visionary and wealthy businessman Sir David Tang created this company from scratch in 1994 in Hong Kong. Its story, spanned over almost two decades, has been fascinating. It went from what best a Chinese brand could be in the eyes of Westerners who love the Chinese culture, to a nearly-bankrupted company in 1998, before being acquired by Richemont, the second largest luxury group in the world. Since then, its turnaround has been spectacular with a growing appeal among Chinese luxury consumers who represent the core segment of the luxury industry today. The main objective of this case study is to formally examine how Shanghai Tang overcame its downfall and re-emerged as one the very few well- known Chinese luxury brands. More specifically, this case highlights the ways with which Shanghai Tang made a transitional change from a brand for Westerners who love the Chinese culture, to a brand for both, Westerners who love the Chinese culture and Chinese who love luxury. A close examination reveals that Shanghai Tang has followed the brand identity concept that consists of two major components: functional and emotional. The functional component for developing a luxury brand concerns all product characteristics that will make a product 'luxurious' in the eyes of the consumer, such as premium quality of cachemire from Mongolia, Chinese silk, lacquer, finest leather, porcelain, and jade in the case of Shanghai Tang. The emotional component consists of non-functional symbolic meanings of a brand. The symbolic meaning marks the major difference between a premium and a luxury brand. In the case of Shanghai Tang, its symbolic meaning refers to the Chinese culture and the brand aims to represent the best of Chinese traditions and establish itself as "the ambassador of modern Chinese style". It touches the Chinese heritage and emotions. Shanghai Tang has reinvented the modern Chinese chic by drawing back to the stylish decadence of Shanghai in the 1930s, which was then called the "Paris of the East", and this is where the brand finds inspiration to create its own myth. Once the functional and emotional components assured, Shanghai Tang has gone through a four-stage development to become the first global Chinese luxury brand: introduction, deepening, expansion, and revitalization. Introduction: David Tang discovered a market gap and had a vision to launch the first Chinese luxury brand to the world. The key success drivers for the introduction and management of a Chinese luxury brand are a solid brand identity and, above all, a creative mind, an inspired person. This was David Tang then, and this is now Raphael Le Masne de Chermont, the current Executive Chairman. Shanghai Tang combines Chinese and Western elements, which it finds to be the most sustainable platform for drawing consumers. Deepening: A major objective of the next phase is to become recognized as a luxury brand and a fashion or design authority. For this purpose, Shanghai Tang has cooperated with other well-regarded luxury and lifestyle brands such as Puma and Swarovski. It also expanded its product lines from high-end custom-made garments to music CDs and restaurant. Expansion: After the opening of his first store in Hong Kong in 1994, David Tang went on to open his second store in New York City three years later. However this New York retail operation was a financial disaster. Barely nineteen months after the opening, the store was shut down and quietly relocated to a cheaper location of Madison Avenue. Despite this failure, Shanghai Tang products found numerous followers especially among Western tourists and became "souvenir-like" must-haves. However, despite its strong brand DNA, the brand did not generate enough repeated sales and over the years the company cumulated heavy debts and became unprofitable. Revitalizing: After its purchase by Richemont in 1998, Le Masne de Chermont was appointed to lead the company, reposition the brand and undertake some major strategic changes such as revising the "Shanghai Tang" designs to appeal not only to Westerners but also to Chinese consumers, and to open new stores around the world. Since then, Shanghai Tang has become synonymous to a modern Chinese luxury lifestyle brand.

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Investigation of the Current Status of Domestic Contact-Lens (국내 콘택트렌즈 시장 현황 조사)

  • Lee, Won Jin;Sung, Duk-Yong;Youk, Do Jin;Kang, Sung Soo
    • Journal of Korean Ophthalmic Optics Society
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    • v.7 no.2
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    • pp.79-87
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    • 2002
  • To analyze the current status of contact-lens in domestic, we analyzed the data of "The Spectacles-wearing Rate Analysis in 1999 (Korea Gallup Research)", "Industry current status(Korea Medical Instruments Industrial cooperative}", "Export & Import current status (Korea Customs Service)", and finally reached the following conclusions. 1. The number of contact-lens wearers in domestic could be assumed 2.13 millions. 2. The size of contact lens market in domestic(on year 2000 basis) was about 25.3 billion Korean wons(\) in total ; 10.8 billion Korean wons on the basis of production unit price (Domestic Gross Production Amount-Export Amount : used the subtraction in math), 14.5 billion Korean wons on Import unit price basis. 3. According to the year 2001 data, the import amount of contact lens is 1.7 times greater than export amount of that. 4. The contact lens export status in year 2001 was Japan, Singapore, Taiwan, U.S.A, China, Hong Kong, Malaysia, Thai, - in order. Especially, the contact lens export of China has increased gradually every year since 1998, the first export year of contact lens. 5. The import status of contact lens was U.S.A, Japan, England, Indonesia, Argentina, Taiwan, Hong Kong, - in order. In addition, the consumption trend of contact lens consumers in domestic reflects that famous foreign contact lens brands were much preferred than lower price contact lens imported from several developing countries.

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The Impact of Market Environments on Optimal Channel Strategy Involving an Internet Channel: A Game Theoretic Approach (시장 환경이 인터넷 경로를 포함한 다중 경로 관리에 미치는 영향에 관한 연구: 게임 이론적 접근방법)

  • Yoo, Weon-Sang
    • Journal of Distribution Research
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    • v.16 no.2
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    • pp.119-138
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    • 2011
  • Internet commerce has been growing at a rapid pace for the last decade. Many firms try to reach wider consumer markets by adding the Internet channel to the existing traditional channels. Despite the various benefits of the Internet channel, a significant number of firms failed in managing the new type of channel. Previous studies could not cleary explain these conflicting results associated with the Internet channel. One of the major reasons is most of the previous studies conducted analyses under a specific market condition and claimed that as the impact of Internet channel introduction. Therefore, their results are strongly influenced by the specific market settings. However, firms face various market conditions in the real worlddensity and disutility of using the Internet. The purpose of this study is to investigate the impact of various market environments on a firm's optimal channel strategy by employing a flexible game theory model. We capture various market conditions with consumer density and disutility of using the Internet.

    shows the channel structures analyzed in this study. Before the Internet channel is introduced, a monopoly manufacturer sells its products through an independent physical store. From this structure, the manufacturer could introduce its own Internet channel (MI). The independent physical store could also introduce its own Internet channel and coordinate it with the existing physical store (RI). An independent Internet retailer such as Amazon could enter this market (II). In this case, two types of independent retailers compete with each other. In this model, consumers are uniformly distributed on the two dimensional space. Consumer heterogeneity is captured by a consumer's geographical location (ci) and his disutility of using the Internet channel (${\delta}_{N_i}$).
    shows various market conditions captured by the two consumer heterogeneities.
    (a) illustrates a market with symmetric consumer distributions. The model captures explicitly the asymmetric distributions of consumer disutility in a market as well. In a market like that is represented in
    (c), the average consumer disutility of using an Internet store is relatively smaller than that of using a physical store. For example, this case represents the market in which 1) the product is suitable for Internet transactions (e.g., books) or 2) the level of E-Commerce readiness is high such as in Denmark or Finland. On the other hand, the average consumer disutility when using an Internet store is relatively greater than that of using a physical store in a market like (b). Countries like Ukraine and Bulgaria, or the market for "experience goods" such as shoes, could be examples of this market condition. summarizes the various scenarios of consumer distributions analyzed in this study. The range for disutility of using the Internet (${\delta}_{N_i}$) is held constant, while the range of consumer distribution (${\chi}_i$) varies from -25 to 25, from -50 to 50, from -100 to 100, from -150 to 150, and from -200 to 200.
    summarizes the analysis results. As the average travel cost in a market decreases while the average disutility of Internet use remains the same, average retail price, total quantity sold, physical store profit, monopoly manufacturer profit, and thus, total channel profit increase. On the other hand, the quantity sold through the Internet and the profit of the Internet store decrease with a decreasing average travel cost relative to the average disutility of Internet use. We find that a channel that has an advantage over the other kind of channel serves a larger portion of the market. In a market with a high average travel cost, in which the Internet store has a relative advantage over the physical store, for example, the Internet store becomes a mass-retailer serving a larger portion of the market. This result implies that the Internet becomes a more significant distribution channel in those markets characterized by greater geographical dispersion of buyers, or as consumers become more proficient in Internet usage. The results indicate that the degree of price discrimination also varies depending on the distribution of consumer disutility in a market. The manufacturer in a market in which the average travel cost is higher than the average disutility of using the Internet has a stronger incentive for price discrimination than the manufacturer in a market where the average travel cost is relatively lower. We also find that the manufacturer has a stronger incentive to maintain a high price level when the average travel cost in a market is relatively low. Additionally, the retail competition effect due to Internet channel introduction strengthens as average travel cost in a market decreases. This result indicates that a manufacturer's channel power relative to that of the independent physical retailer becomes stronger with a decreasing average travel cost. This implication is counter-intuitive, because it is widely believed that the negative impact of Internet channel introduction on a competing physical retailer is more significant in a market like Russia, where consumers are more geographically dispersed, than in a market like Hong Kong, that has a condensed geographic distribution of consumers.
    illustrates how this happens. When mangers consider the overall impact of the Internet channel, however, they should consider not only channel power, but also sales volume. When both are considered, the introduction of the Internet channel is revealed as more harmful to a physical retailer in Russia than one in Hong Kong, because the sales volume decrease for a physical store due to Internet channel competition is much greater in Russia than in Hong Kong. The results show that manufacturer is always better off with any type of Internet store introduction. The independent physical store benefits from opening its own Internet store when the average travel cost is higher relative to the disutility of using the Internet. Under an opposite market condition, however, the independent physical retailer could be worse off when it opens its own Internet outlet and coordinates both outlets (RI). This is because the low average travel cost significantly reduces the channel power of the independent physical retailer, further aggravating the already weak channel power caused by myopic inter-channel price coordination. The results implies that channel members and policy makers should explicitly consider the factors determining the relative distributions of both kinds of consumer disutility, when they make a channel decision involving an Internet channel. These factors include the suitability of a product for Internet shopping, the level of E-Commerce readiness of a market, and the degree of geographic dispersion of consumers in a market. Despite the academic contributions and managerial implications, this study is limited in the following ways. First, a series of numerical analyses were conducted to derive equilibrium solutions due to the complex forms of demand functions. In the process, we set up V=100, ${\lambda}$=1, and ${\beta}$=0.01. Future research may change this parameter value set to check the generalizability of this study. Second, the five different scenarios for market conditions were analyzed. Future research could try different sets of parameter ranges. Finally, the model setting allows only one monopoly manufacturer in the market. Accommodating competing multiple manufacturers (brands) would generate more realistic results.

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  • Studies on Botrytis cinerea Density in Packing Shed and Gray Mold Incidence Following Storage-Temperature in Exported Strawberry (수출딸기 선별장에서 잿빛곰팡이병원균 밀도조사와 저장온도에 따른 잿빛곰팡이병 발생 연구)

    • Kim, Da-Ran;Jeon, Chang Wook;kwak, Youn-Sig
      • The Korean Journal of Pesticide Science
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      • v.19 no.3
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      • pp.295-300
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      • 2015
    • Currently, amount of export strawberry has been continuously increased to ship many south Asia countries, including Hong Kong and Singapore. In the distribution process, significant damage to the quality has been caused depending on the environmental conditions. Gray mold disease caused by Botrytis cinerea has been known as major damage to the export strawberry, and the disease was caused during shipping and distribution to the final consumers. This study was performed to assess the relationship between pathogen density in packing shed and disease incidence of gray mold during storage period. Maximum gray mold disease incidence in storage period was up to 16% with low temperature condition ($4^{\circ}C$). At room temperature condition, the disease incidence reached up to 100% even densities of the pathogen spore were recorded relatively low in the packing shed. As results of the study, the correlation between pathogen density in the air and disease occurrence clearly clarified.

    Ten-Year Change in Vegan Fashion and Beauty Industries in Korean Society -A Corpus Analysis- (코퍼스를 활용한 한국 사회 10년 비건 패션, 뷰티 변화 분석)

    • Somi Kang;Hayeun Jang;Ju Yeun Jang
      • Journal of the Korean Society of Clothing and Textiles
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      • v.47 no.4
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      • pp.625-645
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      • 2023
    • This study examined newspaper articles from 2012 to the first quarter of 2021 to explore how interest in and response to veganism have evolved in the fashion and beauty industries over the past decade. By analyzing keywords and word correlations, we discovered a steady increase in veganism-related articles in both English- and Korean-language newspapers published in Korea, especially since 2019. Since 2012, consumer interest in vegan fashion materials has grown, with fashion and beauty emerging in 2018 as significant vegan-related keywords. As a result, brands have adopted vegan certification systems and introduced vegan product lines, and new vegan brands have emerged. Since 2020, companies have been promoting environmental, social, and governance (ESG) management practices and working toward eco-management that reflects vegan trends in all areas, such as cruelty-free product/packaging materials, brands, policies, and services. It is also notable that fashion/beauty consumers have been more actively starting to adopt eco-friendly lifestyles and participate in vegan-related movements since that time. Our findings offer important insights into the evolution of veganism in Korea and can help researchers and industry practitioners to develop future business strategies in the vegan fashion and beauty industries.

    Introduction of the representative mushroom cultivars and groundbreaking cultivation techniques in Korea

    • Jang, Kab-Yeul;Oh, Youn-Lee;Oh, Minji;Woo, Sung-I;Shin, Pyung-Gyun;Im, Ji-hoow;Kong, Won-Sik
      • Journal of Mushroom
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      • v.14 no.4
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      • pp.136-141
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      • 2016
    • The production scale of mushrooms in Korea is approximately 600 billion won, which is 1.6% of Korea's gross agricultural output. In Korea, ca. 190,000 tons of mushrooms are harvested annually. Although the numbers of mushroom farms and cultivators are constantly decreasing, total mushroom yields are increasing owing to large-scale cultivation facilities and automation. The recent expansion of the well-being trend has caused an increase in mushroom consumption in Korea: the annual per capita mushroom was 3.9 kg ('13), whichis a little higher than that in Europe. Thus, mushroom export, mainly Flammulina velutipes and Pleurotus ostreatus, has increased since the mid-2000s. Recently, however, it is slightly reduced. Nevertheless, Vietnam, Hong Kong, the United States, and the Netherlands continue to export mushrooms, and Korea has increased its export to Australia, Canada, Southeast Asia, etc. Canned Agaricus bisporus, the first export of the Korean mushroom industry, reached it speak sales in 1977-1978. When Korea initiated trade with China in 1980, the international prices of mushrooms fell sharply, leading to shrinkage of the domestic markets. Spurred by the high demand to develop substitute goods for A. bisporus, the oyster mushroom (P. ostreatus) gained attention since it seemed to suit the taste of Korean consumers. Although the log cultivation technique for oyster mushroom was developed in the early 1970s, it required a great deal of labor. Thus, we developed the shelf cultivation technique, which is easier to manage and allows for mass production. In this technique, the growing shelf is made mafrom fermented rice straw, whichis the only P. ostreatus medium in the world and isused only in South Korea. After then, the use of cotton wastes as an additional material of medium, the productivity. Currently, we are developing a standard cultivation technique and environmental control system that can stably produce mushrooms throughout the year. The increase of oyster mushroom production may boostthe domestic market and contribute to industrial development. In addition, oyster mushroom production technology played a role in forming the basis for the development of bottle cultivation, which made mass production. In particular, bottle cultivation using liquid spawn could allow for the export of F. velutipes and Pleurotus eryngii. In addition, the white varieties of F. velutipes were second developed in the world after Japan. We also developed the new A. bisporus cultivar 'Saeah', which is easy to grow in Korea. In hopes to advance the mushroom industry, we will continue to develop cultivars with international competitive power and to improve cultivation techniques.