• Journal of Distribution Science
• /
• v.13 no.11
• /
• pp.47-58
• /
• 2015

Purpose - This study aims to seek determinants of department store sales commission rates under consignment contracts based on transaction cost theory, the power-dependence view, and the resource-based view. A consignment contract is a unique contract where the retailer, over a given period, takes possession of goods owned by a supplier, promotes the sales of these goods, and receives a profit share from their sales. Under this contract, the supplier owns the goods until they are sold. In department stores in South Korea, over 70% of overall sales comes through consignment contracts. In other words, this is the most popular contract agreement between large retailers and vendors in South Korea. Consignment contracts yield high profits to department stores with minimal sales uncertainty, stock cost, and marketing investment. Many suppliers believe the consignment contract commission rates are too high. However, department stores disagree. They state that the commissions are not high as they generate new value for the suppliers by accumulating up-to-date merchandise and supporting various marketing programs on their behalf. Recently, consignment contracts have been critically examined and scrutinized by politicians, mass media, and the public of Korea. This study further intends to derive implications reflecting both buyer and seller perspectives as well as offer insights to policy makers in making appropriate decisions. Research design, data, and methodology - To verify the proposed research model and test hypotheses, the authors selected 164 suppliers, which currently have relationships with department stores. This study carefully investigated the reliability, content validity, convergent validity, and discriminant validity of the proposed model. The data were analyzed using SPSS 18.0 and AMOS structural equation modeling program Results - For the transaction cost theory and the power-dependence view, the results indicated that product diversity and demand volatility had a positive impact on the sales dependence on a department store. Dependence in turn had a positive effect on the sales commission under the consignment contract. Based on the resource-based view, the department store's marketing capability, the supplier's perception toward merchandising, and supporting activities could enhance the department store's channel leadership in the buyer-seller relationship. Subsequently, the channel leadership had a positive effect on the sales commission. However, product complexity had no relationship with department store dependence. Conclusions - This is the first empirical research that investigates the determinants of sales commissions under consignment contracts in the domestic retail industry. This study reveals several theoretical and practical implications for both marketing scholars and marketers. In terms of theoretical implication, this study integrated and enlarged certain theoretical background, such as transaction cost theory, the power-dependence view, and the resource-based view, to explain the determinants of sales commissions under consignment contracts that include sales revenue. From a business management viewpoint, this research offers useful insights for policy makers by applying two different perspectives, both the manufacturer and the retailer, in terms of the sales commission issue under a consignment contract.

• The Journal of the Convergence on Culture Technology
• /
• v.6 no.3
• /
• pp.111-116
• /
• 2020

This is a case study of corporate culture marketing to commemorate the 10th anniversary of the death of Steve Jobs on October 5, 2021. Corporate culture marketing seeks to derive cultural consumer values through Steve Jobs' fandom, and to increase corporate brand image and achieve profits. According to Big Data, Steve Jobs' brand image was derived from 'Innovation', 'First', 'Creativity', 'Change', and 'Design'. So, the relationship between Spigen convergence culture space 'SpigenHall', which is highly related to Steve Jobs' brand image, and the opera , which is made of the material of former Apple CEO Steve Jobs, is analyzed with big data and culture. We investigated the opinions of content experts. SpigenKorea and the digital opera are designed to provide Steve Jobs' story of joy and sorrow, offer VIP members' premium services, press publicity is 'the first in Korea', GangNam's suitable for famous celebrity performance venues and cultural and artistic venues 'SpigenHall', the revenue of the performance ticket was selected as a donation. This study is suitable for researching the life story of male CEOs and planning a cultural city. The limitations of the study need to analyze various works by genre and attempt to analyze consumer values according to the industry.

• Journal of Distribution Science
• /
• v.11 no.1
• /
• pp.55-63
• /
• 2013

Purpose - As the members of the baby boomer generation have retired in earnest, the start-up market has received more attention than ever before. According to recent statistical data, an increasing number of entrepreneurs are in their fifties. There has been a continuous increase in promotional materials on small business issues published by start-ups. This means that senior start-ups have increased in number. A number of support systems have been established for youth start-ups, but there are few government support policies in place for the senior start-up market. Thus, this study suggests a number of constructive alternatives from the perspective of government policy and marketing strategy for entrepreneurs, in order to generate competitiveness in the start-up process, through examining the current state of the senior start-up and by diagnosing extant problems. Research design, data, methodology - This study gives a number of options regarding the government's support policies and the securing of competitiveness in order to vitalize senior business start-ups. As for the government's support policies, funding support policy, publicizing business start-up policies, and operating systematic mentoring policies before retirement have all been covered. In particular, in order for senior business start-ups to become competitive, development through mutual relations with diverse policies is urgently needed. The aging population is becoming an issue in Korea, so businesses for the aged, and the creation of jobs for these people, will become a social issue. Senior business start-ups are playing an important role in expanding enterprise productivity, in addition to enhancing national competitiveness. Expanding senior business start-ups is important, because they also serve to expand the national infrastructure. Productivity increase through continuous expansion is thus recommended. Results - In order to expand the competitiveness of business start-ups, marketing-related observations and learning in regard to customers are necessary for the baby boomer generation, and competitiveness for seniors is urgently needed. Conclusions - Studies on the business start-up policies for the domestic baby boomer generation are almost non-existent, and systematic studies on small businesses are necessary. Only the government is providing statistical studies for small businesses, and such research remains at a general level for entrepreneurs. Therefore, a support system that can actually assist entrepreneurs is essential. Continuous business start-up studies with respect to the baby boomers should be vitalized, to invigorate studies on competition. In order to supplement and strengthen foundational support, senior business start-ups must develop various competitive capabilities with a focus on the customer. The government and the various stakeholder agencies and organizations involved with start-up businesses must find ways to offer support to founders. Such support should include access to knowledge and legal and consultancy services in order to incubate the rapid increase in start-ups founded by seniors. Government support projects should be expanded to meet this end.

• Journal of Service Research and Studies
• /
• v.13 no.3
• /
• pp.1-19
• /
• 2023

Despite the growing importance of video-based social media content, such as vlogs, as a marketing tool in the travel industry, there is limited research on the characteristics that enhance engagement among potential travelers. This study explores the influence of emotional valence in YouTube travel content on viewer engagement, specifically likes and comments. We analyzed 4,619 travel-related YouTube videos from eight popular tourist cities. Using negative binomial regression analysis, we found that both positive and negative emotions significantly influence the number of likes received. Videos with higher positive emotions as well as negative emotions receive more likes. However, when it comes to the number of comments, only negative emotions showed a significant positive influence, while positive emotions had no significant impact. These findings offer valuable insights for marketers seeking to optimize engagement strategies on YouTube, considering the unique nature of travel products. Further research into the effects of specific emotions on engagement is warranted to improve marketing strategies. This study highlights the powerful impact of emotions on viewer engagement in the context of social media, particularly on YouTube.

• Asia-Pacific Journal of Business
• /
• v.3 no.1
• /
• pp.39-47
• /
• 2012

Organizations pursue a CRM strategy for the purpose of increasing business performance and value. However, firms face a multitude of organizational challenges associated with this endeavor. To reduce their risk of failure, it is suggested that firms undertake a deep analysis of organizational readiness prior to committing to a CRM initiative. Insurance sector is no exception to this fact. There is an increased need to concentrate on the various challenges thrown open by the public insurance firms in implementing CRM. Many insurance firms have invested into customer driven CRM but research indicates varying outcomes (Schmith 2004). While it is clear that there are significant issues involved in the CRM implementation and success and environment faced by the public sector. It is clear that business should have an easier time in applying CRM systems is the strategic value for public sector. With customers demanding more service and accessibility from administrators, public sector CRM software technologies have to offer best solutions for achieving process and cost objectives (Souder 2001). With results which go far beyond improved service delivery and include sustained cost reductions, increased customer knowledge and better employee morale, CRM software implementation and post product environments offer great upside value. Although there are material differences in public sector use of CRM strategy, they share at least one glaring similarity - they have much to gain from proven CRM software technology. As business methods cross over in the public sector, many government bodies are investigating how they can adopt and adapt various CRM models (Bleyer 2003). There is a need to understand the similarities and differences in public sector CRM to foster shared knowledge, business processes and planning functions to integrate disparate technologies and software platforms and then, of course, the organizational culture to support knowledge sharing (Peters 1997). For the public sector, there are clearly identified CRM processes which have resulted in increased profits and improved efficiency. These have focused on sales, marketing and customer service activities, which often operate along fundamentally different lines in various public sector insurance companies. Thus the present research paper makes an attempt to explore how public sector CRM methods can be adopted and subsequently adapted.

• Culinary science and hospitality research
• /
• v.22 no.8
• /
• pp.53-66
• /
• 2016

Present study confirmed the influential relationships among menus choices, IMC activities, customer satisfaction and revisit intention as perceived by Italian restaurant consumers to establish the marketing strategy. The results are as follows: The menu choice traits of the Italian restaurants have proved that menu quality, menu composition, and physical offer have significant influences on the customer satisfaction. In addition, all the factors of menu choice traits except physical offer have significant effect on the customer's revisit intention. Furthermore, the IMC activities of the Italian restaurants have been proved that the advertisement and the public relations have significant influence on the customer satisfaction and revisit intention, but there was no signigicant impact with personal selling. Last, the customer satisfaction has been identified as a critical antecedent of revisit intention in this study.

• Journal of the Korean Society of Clothing and Textiles
• /
• v.34 no.7
• /
• pp.1205-1219
• /
• 2010

This study analyzes the conditions and products of internet shopping malls that sell natural dyeing products. In this study, 98 natural dyeing internet shopping malls were selected. The results of this study are as follows. The locations of the internet shopping malls were Gyeonggi-do, Seoul, Jeollanam-do, Gyeongsangbuk-do, Gwang-ju (city), Daegu (city), Busan (city), Gyeongsangnam-do, and Jeju-do. The most frequent dyes of the natural dyeing products were loess, followed by charcoal, indigo, and persimmon. Indigo was most frequently used in Seoul, with loess and charcoal most frequent in Gyeonggi-do. Persimmon, indigo, loess, and charcoal were mainly used in Jeollanam-do, with persimmon and loess in the Gyeongsangbuk-do, and persimmon in Jeju-do. The highest ordered product categories were accessories, followed by adult clothing, interior decoration products, and bedding. The most frequent products were bedclothes, followed by scarves, female shirts, blouses, pillows, female jackets, and vests. Regarding the price of products, 150,000-200,000 won was the highest for the Saenghwal Hanbok, with 10,000-30,000 won for underwear, 30,000-60,000 won for accessories, and 100,000-150,000 won for bedding. Concerning product information, 58.2% of internet shopping malls offer the product size and almost half of them did not show the properties or directions for handling the product. Based on the research results, the problems of the conditions and products of natural dyeing internet shopping mall were derived. The results show that the natural dyes of internet shopping malls lacked regional symbolism, the products were not specialized, and product information was not fully offered to consumers. To solve these problems, the strategies for marketing the promotion of the natural dyeing internet shopping mall were, ‘Using natural dyes from local resources’, ‘Market oriented and specialized item design’, and ‘Offer right product information’.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.18
• /
• pp.159-188
• /
• 2002

International joint ventures are usually formed and managed by domestic companies and foreign investors for the common objectives. They offer an opportunity for each partner to benefit significantly from the comparative advantages of the other. Local partners bring knowledge of the domestic market; familiarity with government bureaucracies and regulations; understanding of local labor markets; and existing manufacturing facilities. Foreign partners can offer advanced process and product technologies, management know-how, and access to export markets. In Korea, joint ventures have been encouraged to usher in foreign investors with foreign currency capital badly needed during the IMF financial crisis. In the meantime, Korean laws and regulations with respect to joint ventures have been largely overhauled to promote foreign direct investment (FDI) both inbound and outbound. They include four types of FDI, i.e., acquisition of foreign stocks, provision of long-term loans, participation in joint operations like resources development, and establishment of foreign offices. From the legal point of view, the formal joint venture agreement must be an offspring of a series of tough negotiations between domestic and foreign partners. They usually stress the long-term relationship with the good will and dedication to each other, and restrict the free transfer of stocks. Both partners are earnestly interested in the ownership and management of the joint venture. So they keep a close eye on the articles of incorporation, changes of business environment, conflict resolution methods, transparency of accounting and other financial matters. When a multinational corporation (MNC) is involved in the joint venture, conflicts over management strategies, marketing and other issues take place more often than not between the MNC and local partners. We have to pay attention to joint ventures, particularly, in China and North Korea. As witnessed in other transition economies, China is eagerly bringing in foreign direct investments for the development of nation's economy. China encourages foreign investors to establish ordinary joint ventures, contractual joint ventures, solely invested foreign capital companies and jointly operated development companies with local partners. In North Korea, however, joint ventures have a different meaning like contractual joint ventures in China, in which North Korean partners have an initiative in the management. Rather, jointly operated companies or simply processing-for-wage companies are recommended in view of the unpredictable legal infrastructure in North Korea.

• Journal of the Korean Society of Clothing and Textiles
• /
• v.35 no.3
• /
• pp.325-335
• /
• 2011

This study analyzes the current educational curricula in the field of Clothing and Textiles in order to develop appropriate educational methods and courses. We reviewed the curricula offered by 58 Clothing and Textiles Departments at four-year universities in Korea. We analyzed the educational content of each curriculum by dividing all of the courses offered into eight categories. The analysis was based on the information posted on the universities' Internet websites, and the analysis was performed by using descriptive statistics. The results of this study are as follows: First, the educational courses of the Clothing and Textiles Departments are composed of, 36.2% design, 20.4% production, and 14.5% textile categories. In comparison with the results of a similar study conducted in 1999, emphases on the design, distribution, and marketing categories have increased, while the emphases on the production, apparel material, basic knowledge, and consumption science categories have decreased. Second, in the case of the apparel material category, basic knowledge of materials constituted 18.5%, the largest part of the category. The average number of units offered in the area of apparel materials by the 58 Departments was 17 units per year. The curricula were found to vary by regions of the country. The universities located in the Chungcheong region offer more textile material courses, but the universities in the Capital region offer fewer textile material courses than other regions. Departments that are affiliated with universities that emphasize Art and Design have more courses on basic knowledge, dyeing and finishing, and fabric design than other universities.

• Asia Pacific Journal of Business Review
• /
• v.4 no.2
• /
• pp.1-21
• /
• 2020

The purpose of this research is to investigate young consumer motivation in regards to shopping mall. Young adults are an emerging age group that has economic autonomy and power of making independent decisions. In addition, this young segment providing an interesting challenges and opportunities for marketing professionals. Therefore, it is pertinent to analyse their shopping motivations, so that the marketers can understand and influence the consumption behaviour of this specific group. A survey using self-administered questionnaire was conducted to assess the mall-directed shopping habits and shopping orientations. A total of 164 usable surveys were obtained. In addition of exploratory factor analysis, confirmatory factor analysis and structural equation modeling was applied to prove the hypotheses. We have found that young Australian shoppers were motivated to visit malls primarily by the role enactment and exploration dimensions. They were the strongest motivators which explaining why young Australian consumers patronize malls. Young consumers of Australia enjoyed the mall environment, exploring new things, socializing with friends, comparing prices and the variety of products and services offered. The results of our study have several implications that should be of benefit to the retailing industry and mall management. Developers of malls must develop their mall more than simply a place for buying products. As such, mall management should make sure that their mall atmospherics offer a mall environment that is pleasing to multiple senses, to ensure it is conducive for shoppers to stay and spend more of their time and money. Mall management must execute strategies to maintain their attraction to younger consumers, perhaps by including stores that are futuristic and offer the most advanced styles or technologies, and appeal to somewhat older adults by offering the tenant, entertainment, and experience mix they will prefer. It is recommended that future research utilize random sampling methods to ensure the generalizability of results.