• Title/Summary/Keyword: Multiple Channels

Search Result 902, Processing Time 0.022 seconds

Public Sentiment Analysis of Korean Top-10 Companies: Big Data Approach Using Multi-categorical Sentiment Lexicon (국내 주요 10대 기업에 대한 국민 감성 분석: 다범주 감성사전을 활용한 빅 데이터 접근법)

  • Kim, Seo In;Kim, Dong Sung;Kim, Jong Woo
    • Journal of Intelligence and Information Systems
    • /
    • v.22 no.3
    • /
    • pp.45-69
    • /
    • 2016
  • Recently, sentiment analysis using open Internet data is actively performed for various purposes. As online Internet communication channels become popular, companies try to capture public sentiment of them from online open information sources. This research is conducted for the purpose of analyzing pulbic sentiment of Korean Top-10 companies using a multi-categorical sentiment lexicon. Whereas existing researches related to public sentiment measurement based on big data approach classify sentiment into dimensions, this research classifies public sentiment into multiple categories. Dimensional sentiment structure has been commonly applied in sentiment analysis of various applications, because it is academically proven, and has a clear advantage of capturing degree of sentiment and interrelation of each dimension. However, the dimensional structure is not effective when measuring public sentiment because human sentiment is too complex to be divided into few dimensions. In addition, special training is needed for ordinary people to express their feeling into dimensional structure. People do not divide their sentiment into dimensions, nor do they need psychological training when they feel. People would not express their feeling in the way of dimensional structure like positive/negative or active/passive; rather they express theirs in the way of categorical sentiment like sadness, rage, happiness and so on. That is, categorial approach of sentiment analysis is more natural than dimensional approach. Accordingly, this research suggests multi-categorical sentiment structure as an alternative way to measure social sentiment from the point of the public. Multi-categorical sentiment structure classifies sentiments following the way that ordinary people do although there are possibility to contain some subjectiveness. In this research, nine categories: 'Sadness', 'Anger', 'Happiness', 'Disgust', 'Surprise', 'Fear', 'Interest', 'Boredom' and 'Pain' are used as multi-categorical sentiment structure. To capture public sentiment of Korean Top-10 companies, Internet news data of the companies are collected over the past 25 months from a representative Korean portal site. Based on the sentiment words extracted from previous researches, we have created a sentiment lexicon, and analyzed the frequency of the words coming up within the news data. The frequency of each sentiment category was calculated as a ratio out of the total sentiment words to make ranks of distributions. Sentiment comparison among top-4 companies, which are 'Samsung', 'Hyundai', 'SK', and 'LG', were separately visualized. As a next step, the research tested hypothesis to prove the usefulness of the multi-categorical sentiment lexicon. It tested how effective categorial sentiment can be used as relative comparison index in cross sectional and time series analysis. To test the effectiveness of the sentiment lexicon as cross sectional comparison index, pair-wise t-test and Duncan test were conducted. Two pairs of companies, 'Samsung' and 'Hanjin', 'SK' and 'Hanjin' were chosen to compare whether each categorical sentiment is significantly different in pair-wise t-test. Since category 'Sadness' has the largest vocabularies, it is chosen to figure out whether the subgroups of the companies are significantly different in Duncan test. It is proved that five sentiment categories of Samsung and Hanjin and four sentiment categories of SK and Hanjin are different significantly. In category 'Sadness', it has been figured out that there were six subgroups that are significantly different. To test the effectiveness of the sentiment lexicon as time series comparison index, 'nut rage' incident of Hanjin is selected as an example case. Term frequency of sentiment words of the month when the incident happened and term frequency of the one month before the event are compared. Sentiment categories was redivided into positive/negative sentiment, and it is tried to figure out whether the event actually has some negative impact on public sentiment of the company. The difference in each category was visualized, moreover the variation of word list of sentiment 'Rage' was shown to be more concrete. As a result, there was huge before-and-after difference of sentiment that ordinary people feel to the company. Both hypotheses have turned out to be statistically significant, and therefore sentiment analysis in business area using multi-categorical sentiment lexicons has persuasive power. This research implies that categorical sentiment analysis can be used as an alternative method to supplement dimensional sentiment analysis when figuring out public sentiment in business environment.

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
    • /
    • v.16 no.2
    • /
    • pp.119-138
    • /
    • 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.

  • PDF