• Asia Marketing Journal
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• v.15 no.3
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• pp.53-77
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• 2013

As advertising and promotions are categorized as operating expenses, managers tend to reduce marketing budget to improve their short term profitability. Gauging the value and accountability of marketing spending is therefore considered as a major research priority in marketing. To respond this call, recent studies have documented that financial market reacts positively to a firm's marketing activity or marketing related outcomes such as brand equity and customer satisfaction. However, prior studies focus on the relation of marketing variable and financial market variables. This study suggests a channel about how marketing activity increases firm valuation. Specifically, we propose that a firm's marketing activity increases the level of the firm's product market information and thereby the dispersion in financial analysts' earnings forecasts decreases. With less uncertainty about the firm's future prospect, the firm's managers and shareholders have less information asymmetry, which reduces the firm's cost of capital and thereby increases the valuation of the firm. To our knowledge, this is the first paper to examine how informational benefits can mediate the effect of marketing activity on firm value. To test whether marketing activity contributes to increase in firm value by mitigating information asymmetry, this study employs a longitudinal data which contains 12,824 firm-year observations with 2,337 distinct firms from 1981 to 2006. Firm value is measured by Tobin's Q and one-year-ahead buy-and-hold abnormal return (BHAR). Following prior literature, dispersion in analysts' earnings forecasts is used as a proxy for the information gap between management and shareholders. For model specification, to identify mediating effect, the three-step regression approach is adopted. All models are estimated using Markov chain Monte Carlo (MCMC) methods to test the statistical significance of the mediating effect. The analysis shows that marketing intensity has a significant negative relationship with dispersion in analysts' earnings forecasts. After including the mediator variable about analyst dispersion, the effect of marketing intensity on firm value drops from 1.199 (p < .01) to 1.130 (p < .01) in Tobin's Q model and the same effect drops from .192 (p < .01) to .188 (p < .01) in BHAR model. The results suggest that analysts' forecast dispersion partially accounts for the positive effect of marketing on firm valuation. Additionally, the same analysis was conducted with an alternative dependent variable (forecast accuracy) and a marketing metric (advertising intensity). The analysis supports the robustness of the main results. In sum, the results provide empirical evidence that marketing activity can increase shareholder value by mitigating problem of information asymmetry in the capital market. The findings have important implications for managers. First, managers should be cognizant of the role of marketing activity in providing information to the financial market as well as to the consumer market. Thus, managers should take into account investors' reaction when they design marketing communication messages for reducing the cost of capital. Second, this study shows a channel on how marketing creates shareholder value and highlights the accountability of marketing. In addition to the direct impact of marketing on firm value, an indirect channel by reducing information asymmetry should be considered. Potentially, marketing managers can justify their spending from the perspective of increasing long-term shareholder value.

• Journal of Korean Library and Information Science Society
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• v.23
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• pp.147-182
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• 1995

Marketing technique is used as effective management tool in library. The small size of the user group in special libraries provides good condition for marketing. Special libraries can accomplish the goals and objectives with using marketing technique. The purpose of this study is to examine key concepts and activity procedures of marketing, and marketing mix 4'P, and to suggest the information services which can be used in developing marketing strategies of special libraries. The conclusions are summarized as follows. 1. The key concepts and activity procedure of marketing for libraries consist of market segmentation, positioning, consumer analysis, marketing program and marketing audit. 2. The marketing mix 4P's that can be used in special libraries are examined. 3. The information services which can be used in marketing strategies are suggested.

• The Korean Journal of Franchise Management
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• v.6 no.2
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• pp.87-104
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• 2015

This study, based on theoretical and practical understanding of franchising, aims to conceptualize franchising in terms of marketing mix and proposes new paradigm of franchising. New schema of the franchise marketing mix involves both customer gap and franchisee gap by including customer and franchisee contacts and sets activities that include components of franchise system as the factor of marketing mix. So we could suggest the franchise marketing mix, '4F' by introducing conventional marketing mix concept into this assumption. The 4F schema consist of four sub-dimensions: 'Format', 'Fee & Royalty', 'Franchising Process', and 'Franchise Communication', which correspond to '4P'. In perspective of marketing mix, we could divide the franchise system into primary activity and support activity, then we also could categorize the fundamental activity into four-classification system, 4F schema. We expect that franchise marketing mix, 4F can be useful both theoretically and practically as it not only is not too different from the conventional marketing mix, but it also proposes franchise value chain by including unique characteristics and contents of the franchise system.

• Knowledge Management Research
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• v.16 no.3
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• pp.81-102
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• 2015

With the rapid development of digital media, there has been a huge change in a way of communication, a process of information diffusion and a role of traditional media. Not like mass media, social media enables users to generate and tap into the opinions of a larger world. From that reason, social media is impacting marketing strategies. However, still social media marketing researches just focus on case study, analysis of users motivation or analysis of power user's usage pattern. Word-of-mouth has always been important especially in marketing area. In social media, word-of-mouth depends on each user that's why this research focuses on individual user's activity in SNS. I defined 4 factors (produce, diffusion, network size, activity of network size enlarge) that are effect on activity and verified hypothesis by multiple regression analysis, hierarchical regression analysis and moderated multiple regression.

• Journal of Korean Academy of Nursing Administration
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• v.11 no.1
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• pp.1-12
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• 2005

Purpose: The purpose was to analyze the effects of internal marketing activity factors on nurse's turnover intention, nursing task performance and nursing productivity. Methods: The subjects were 355 nurses who were working at the 3 universities hospital over 1 year. The instruments were used of internal marketing activity factors(Lee, 2001), turnover intension(Lee, 1995), nursing task performance(Park, 1988) and nursing productivity(McNeese-Smith, 1996). Results: The mean score of internal marketing activity factors was 2.79, education and training 2.97, individualization 2.93, communication 2.87, promotion 2.76, work environment 2.63, reward system 2.62, and management vision for employee 2.61. The turnover intention was 3.12, nursing task performance 3.49, and nursing productivity 3.38. The internal marketing activity factors were negatively correlated with turnover intention(r=-0.37, p<0.0001), and positively correlated with nursing task performance(r=0.29, p<0.0001) and nursing productivity(r=0.30, p<0.0001). The key predictor of turnover intension was reward system, education and training, communication, and salary. They explained 35.0% of the total variance. In nursing task performance, communication, management vision for employee, salary and unit explained 26.0% of the total variance. In nursing productivity, communication, reward, education and training, salary, and position explained 24.0%. Conclusions: To increase nurse's nursing task performance and nursing productivity and to decrease turnover intention, it is necessary to concentrate on improving communication and reward system in the internal marketing activity factors. Through these activities, the effectiveness of internal marketing strategies will be enhanced and finally, nursing organizational outcome will be increased.

• The Journal of Society for e-Business Studies
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• v.14 no.1
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• pp.121-142
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• 2009

In this study, the marketing activity of medical service providers via Internet was considered as a new technology for approaching this problem and the consumers' acceptance of the new marketing activity was analyzed through the TAM (Technology Acceptance Model) path analysis. The path analysis was conducted for the non-insured medical departments and the insured medical departments. The path analysis revealed that the consumers felt usefulness of the marketing activity of non-insured medical service providers, which means that they have intention to accept and are satisfied with the Internet marketing activity provided by non-insured medical service departments. On the other hand, in the case of insured medical service, it was clarified that the 'easy of use' preferentially affects the users' intention of accepting the marketing activity rather than 'usefulness'.

• Journal of the Korea Furniture Society
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• v.20 no.6
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• pp.552-559
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• 2009

While the population conducting the production-oriented leisure activity is spread, the expertly franchised types of woodworking workshop based on good organization and economic power are also undergoing rapid growth with the related industries. Such tendency needs the systemized marketing strategy for woodworking workshop industry, but most of the woodworking workshops are regarding the deal with customers as simple exchange business in the market. The factors of the relationship marketing hereupon should be constituted as basic material for the study of the relationship marketing of DIY woodworking workshop. This study was intended to select the appropriate factors for relationship marketing and to apply the related theoretical backgrounds on the basis of the preceding studies regarding the factors of relationship marketing. As the factors it was selected that service and expertise of staff under the category of the characteristics of staff, reasonable price, diversity of products and convenience of facility in woodworking workshop under the category of the customer-oriented service, and communication and favorite program under that of the relation-oriented service.

• Culinary science and hospitality research
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• v.9 no.2
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• pp.44-63
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• 2003

This study is about internet marketing of family restaurant through marketing mix and we found out the way which can make to activate by means of analysis of family restaurant's homepage. This study was done as following precedure. First, we've compared between characteristic was based on contents distinctive quality of family restaurant's homepage through the marketing mix. And in the next step, we've compared and ana lysed homepage of family restaurant which was chosed by the internet surfing. In the last, we evaluate strategy of marketing mix which is going well in the each field of business and then research of the way can improve internet-marketing. We draw the findings which is seperated by goods, price, promotion, distribution, other service according to marketing constituents. As a result of study, it is found that each company has given much more weight on some part in internet marketing's field of activity. In general, they put an emphasis on activity of goods and promotion. On the other hands they don't consider prices and delivery to be important compared with other parts. One of the most important things about internet-marketing is that fast and exact feedback and community makes each firm to be able to help to communicate with customer. It's like off-line-restaurant make use of free-coupon and an anniversary service.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.3
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• pp.295-302
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• 2022

This research aims to determine and analyze: (a) the effects of digital marketing activity (DMAc), digital marketing capability (DMC), and Digital marketing asset (DMA), (b) the effects of DMAc, DMC, and DMA on marketing performance (MP), (c). the effects of entrepreneurial orientation (OE) on MP and (d). the mediating role of OA on the effects of DMAc, DMC, and DMA on OE. The research population is all the small enterprise actors in Kendari city applying digital marketing and having a permanent establishment in Kendari City. The analysis tool used is SEM Partial Least Square. Results of the research show that: (a). DMC and DMA have positive and significant effects on OE while DMAc is found to be insignificant on OE, (b). then, DMAc and DMA have positive and significant effects on MP, and DMC is found to be insignificantly increasing MP, (c). OE has positive and significant effects on MP and (d). DMC effects on MP and effects between DMA and MP are mediated by OE, whereas DMA effects on MP are not mediated by OE position. Based on research findings, DMC and DMA are superior at forming research opinions since they have a substantial influence on enhancing collaboration.

• Korean Journal of Agricultural Science
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• v.33 no.1
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• pp.11-16
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• 2006

Joint marketing defines marketing activity which aims scale economies, quality improvement, and reducing marketing costs, through regrouping and sharing roles between farmers, regional cooperative, and national agriculture cooperative federation. As a case study for joint marketing, an empirical analysis was done for strawberry joint marketing in Nonsan city and future directions for joint marketing were deduced.