• Journal of Distribution Research
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• v.15 no.1
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• pp.1-24
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• 2010

I. Introduction The industry of domestic discount store was reorganized with 2 bigs and 1 middle, and then Home Plus took over Home Ever in 2008. In present, Oct, 2008, E-Mart has 118 outlets, Home Plus 112 outlets, and Lotte Mart 60 stores. With total number of 403 outlets, they are getting closer to a saturation point. We know that the industry of discount store has been getting through the mature stage in retail life cycle. There are many efforts to maintain existing customers rather than to get new customers. These competitions in this industry lead firms to acknowledge 'store loyalty' to be the first strategic tool for their sustainable competitiveness. In other words, the strategic goal of discount store is to boost up the repurchase rate of customers throughout increasing store loyalty. If owners of retail shops can figure out main factors for store loyalty, they can easily make more efficient and effective retail strategies which bring about more sales and profits. In this practical sense, there are many papers which are focusing on the antecedents of store loyalty. Many researchers have been inspecting causal relationships between antecedents and store loyalty; store characteristics, store image, atmosphere in store, sales promotion in store, service quality, customer characteristics, crowding, switching cost, trust, satisfaction, commitment, etc., In recent times, many academic researchers and practitioners have been interested in 'dual path model for service loyalty'. There are two paths in store loyalty. First path has an emphasis on symbolic and emotional dimension of service brand, and second path focuses on quality of product and service. We will call the former an extrinsic path and call the latter an intrinsic path. This means that consumers' cognitive path for store loyalty is not single but dual. Existing studies for dual path model are as follows; First, in extrinsic path, some papers in domestic settings show that there is 'store personality-identification-loyalty' path. Second, service quality has an effect on loyalty, which is a behavioral variable, in the mediation of customer satisfaction. But, it's very difficult to find out an empirical paper applied to domestic discount store based on this mediating model. The domestic research for store loyalty concentrates on not only intrinsic path but also extrinsic path. Relatively, an attention for intrinsic path is scarce. And then, we acknowledge that there should be a need for integrating extrinsic and intrinsic path. Also, in terms of retail industry, this study is meaningful because retailers want to achieve their competitiveness by using store loyalty. And so, the purpose of this paper is to integrate and complement two existing paths into one specific model, dual path model. This model includes both intrinsic and extrinsic path for store loyalty. With this research, we would expect to understand the full process of forming customers' store loyalty which had not been clearly explained. In other words, we propose the dual path model for discount store loyalty which has been originated from store personality and service quality. This model is composed of extrinsic path, discount store personality$\rightarrow$store identification$\rightarrow$store loyalty, and intrinsic path, service quality of discount store$\rightarrow$customer satisfaction$\rightarrow$store loyalty. II. Research Model Dual path model integrates intrinsic path and extrinsic path into one specific model. Intrinsic path put an emphasis on quality characteristics and extrinsic path focuses on brand characteristics. Intrinsic path is based on information processing perspective, and extrinsic path emphasizes symbolic and emotional dimension of brand. This model is composed of extrinsic path, discount store personality$\rightarrow$store identification$\rightarrow$store loyalty, and intrinsic path, service quality of discount store$\rightarrow$customer satisfaction$\rightarrow$store loyalty. Hypotheses are as follows; Hypothesis 1: Service quality perceived by customers in discount store has an positive effect on customer satisfaction Hypothesis 2: Store personality perceived by customers in discount store has an positive effect on store identification Hypothesis 3: Customer satisfaction in discount store has an positive effect on store loyalty. Hypothesis 4: Store identification has an positive effect on store loyalty. III. Results and Implications We examined consumers who patronize discount stores for samples of this study. With the structural equation model(SEM) analysis, we empirically tested the validity and fitness of the dual path model for store loyalty in discount stores. As results, the fitness indices of this model were well fitted to data obtained. In an intrinsic path, service quality(SQ) is positively related to customer satisfaction(CS), customer satisfaction(CS) has very significantly positive effect on store loyalty(SL). Also, in an extrinsic path, the store personality(SP) is positively related to store identification(SI), it shows significant effect on store loyalty. Table 1 shows the results as follows; There are some theoretical and practical implications. First, Many studies on discount store loyalty have been executed from various perspectives. But there has been no integrative view on this issue. And so, this research was theoretically designed to integrate various and controversial arguments into one systematic model. We empirically tested dual path model forming store loyalty, and brought up a systematic and integrative framework for future studies. We want to expect creative and aggressive research activities. Second, a few established papers are focused on the relationship between antecedents and store loyalty; store characteristics, atmosphere, sales promotion in store, service quality, trust, commitment, etc., There has been some limits in understanding thoroughly the formation process of store loyalty with a singular path, intrinsic or extrinsic. Beyond these limits in single path, we could propose the new path for store loyalty. This is meaningful. Third, discount store firms make and execute marketing strategies for increasing store loyalty. This research provides real practitioners with reference framework needed for actual strategy formation. Because this paper shows integrated and systematic path for store loyalty. A special feature of this study is to represent 6 sub dimensions of service quality in intrinsic path and 4 sub dimensions of store personality in extrinsic path. Marketers can make more analytic marketing planning with concrete sub dimensions of service quality and store personality. When marketers of discount stores make strategic planning like MPR, Ads, campaign, sales promotion, they can use many items which are more competitive than competitors.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.10
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• pp.4543-4550
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• 2012

The purpose of this paper is to suggest the improvement method to achieve the interactive development effect between high-tech industrial complex and its surrounding areas. For this reason, this paper has conducted an empirical analysis to find out relevant comprehensive factors, affecting nearby housing prices from such plans, especially by reviewing 'Seoul Digital Industrial Complex.' This paper is truly differentiated from previous research by adding a new perspective 'diverse location characteristics', as it focuses not only on 'high-tech facility' characteristics, but also on 'urban function facilities', including 'transportation facilities', 'amenity facilities', 'security facilities', etc. Then, SPSS Version 18.0 was utilized to conduct the multiple regression analysis with the accumulated relevant data and several results were drawn out as following: Firstly, 'deterioration level', 'brand of apartment', etc. are found to be major influencing factors. Secondly, 'educational facilities', 'transportation facilities', 'Cultural & Sports facilities', 'Amenity facilities', etc. are found in the sector of 'location characteristic'. Lastly, 'leading companies within the industrial complex', were also found, affecting nearby housing prices. Therefore, when a housing development project is planned to grant the interactive development effect to high-tech industrial complex and its surrounding housing areas, it is necessary to consider variety factors, such as comprehensive location characteristics and housing complex characteristics, and also proper housing policy measures should be devised in accordance with the actual demand of employees and their dependant family members.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.6
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• pp.574-583
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• 2020

The aim of this study is to investigate the expenditure items and expenses for companion dogs and the appropriate considerations when choosing companion dog food for consumers who purchase dog food through the internet. The survey subjects consisted of 39 males (6.8%) and 532 females (93.2%), and it was found that most women purchase dog food through the internet. According to the age of dog owner, 184 (32.2%) were in their 20s and 241 (42.2%) in their 30s and 146 (25.6%) in their 40s or older. According to the age of the dogs, 200 (35%) were under 3 years old, 202 (35.4%) over 8 years old, and 169 (29.6%) were between 4 and 7 years old. The most preferred ingredient was chicken, regardless of dogs' owner or the dogs' age. Spending less than 100,000 won was most frequency reported, regardless of dog owner and the age of the dog, and major dog food was reported to be purchased in the order of online shopping malls and animal hospitals. In order to improve health function, it was determined that improvement of skin and hair is the most important, and next, was improvement of tooth bone formation and digestibility. When choosing food for companion dogs, nutritional composition of all the products was the most important consideration, followed by brand products with recognition, color, smell, shape, functional improvement products, and price of the products. Therefore, when developing a new product for companion dog food, consideration must be given not only to the nutritional components of all products, but also the brands, color, odor, shape, nutritional balance, functional improvement and price.

• Journal of Distribution Science
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• v.13 no.9
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• pp.37-45
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• 2015

Purpose - This paper's aim is to investigate whether or not gross profitability explains the cross-sectional variation of the stock returns in the Korean stock market. Gross profitability is an alternative profitability measure proposed by Novy-Marx in 2013 to predict cross-sectional variation of stock returns in the US. He shows that the gross profitability adds explanatory power to the Fama-French 3 factor model. Interestingly, gross profitability is negatively correlated with the book-to-market ratio. By confirming the gross profitability premium in the Korean stock market, we may provide some implications regarding the well-known value premium. In addition, our empirical results may provide opportunities for the fund distribution industry to promote brand new styles of funds. Research design, data, and methodology - For our empirical analysis, we collect monthly market prices of all the companies listed on the Korea Composite Stock Price Index (KOSPI) of the Korea Exchanges (KRX). Our sample period covers July1994 to December2014. The data from the company financial statementsare provided by the financial information company WISEfn. First, using Fama-Macbeth cross-sectional regression, we investigate the relation between gross profitability and stock return performance. For robustness in analyzing the performance of the gross profitability strategy, we consider value weighted portfolio returns as well as equally weighted portfolio returns. Next, using Fama-French 3 factor models, we examine whether or not the gross profitability strategy generates excess returns when firmsize and the book-to-market ratio are controlled. Finally, we analyze the effect of firm size and the book-to-market ratio on the gross profitability strategy. Results - First, through the Fama-MacBeth cross-sectional regression, we show that gross profitability has almost the same explanatory power as the book-to-market ratio in explaining the cross-sectional variation of the Korean stock market. Second, we find evidence that gross profitability is a statistically significant variable for explaining cross-sectional stock returns when the size and the value effect are controlled. Third, we show that gross profitability, which is positively correlated with stock returns and firm size, is negatively correlated with the book-to-market ratio. From the perspective of portfolio management, our results imply that since the gross profitability strategy is a distinctive growth strategy, value strategies can be improved by hedging with the gross profitability strategy. Conclusions - Our empirical results confirm the existence of a gross profitability premium in the Korean stock market. From the perspective of the fund distribution industry, the gross profitability portfolio is worthy of attention. Since the value strategy portfolio returns are negatively correlated with the gross profitability strategy portfolio returns, by mixing both portfolios, investors could be better off without additional risk. However, the profitable firms are dissimilar from the value firms (high book-to-market ratio firms); therefore, an alternative factor model including gross profitability may help us understand the economic implications of the well-known anomalies such as value premium, momentum, and low volatility. We reserve these topics for future research.

• Culinary science and hospitality research
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• v.22 no.4
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• pp.319-332
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• 2016

The purpose of this study is to suggest management strategies for both upscale hotel buffet restaurants and independent buffet restaurants by conducting an IPA(Important-Performance/satisfaction Analysis) on the selection attributes for buffet type restaurants. Additionally, the effects of the selection attributes' satisfaction on the "intention to recommend" was tested. Surveys were conducted from April 15th through May 4th, 2016 by using both SNS and off-line surveys of consumers with buffet restaurants dining experiences within the previous year, of which a total number of 160 questionnaires were used for the statistical analysis. The result showed a few different selection attributes in each quadrant; additionally, food quality and menu had positive effects on the "intention to recommend" for hotel buffet restaurants, while food quality was the only selection attribute with positive effects for independent buffet restaurants. Based on the results of the study, it can be suggested for the hotel buffet restaurants to constantly develop new and unique menu items to lead the needs of the fast changing consumers of today instead of focusing on the premium characteristics of upscale hotels and their brand names. In addition, offering a variety desserts seems to be something to re-consider for both types of buffet restaurants.

• Science of Emotion and Sensibility
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• v.11 no.2
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• pp.153-172
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• 2008

Products can maintain a high level of market share for many years by succeeding early in the development of a market. To overcome the benefit of pioneering a market, late entrants to the market can use differentiation strategies: developing novel attributes or enhancing preexisted attributes. In general, preexisted attributes are more memorable, but novel attributes can be weighted as heavily as preexisted attributes by contextual constraints. Based on the research of appraisal-congruent judgement, certainty appraisal dimension may affect the degree to which people engage in systematic or heuristic processing. This study examines the effects of alignability (the ease with which the attributes of one object can be aligned or mapped onto another object) of product attributes and certainty on consumer preferences for late entrants. Participants were induced to experience certainty and then completed a questionnaire. As predicted, participants induced certainty were likely to engage in heuristic processing, while participants induced uncertainty were likely to engage in systematic processing. This study provides an implication that companies should additionally consider consumers' feeling of certainty when launching a new brand.

• Archives of design research
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• v.18 no.4 s.62
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• pp.129-138
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• 2005

Until the early part of the 1990s, interior design has never been thought important by car makers. Repeated attempts have been made to systemize a technical structure, such as layout, driving method, and size, and the car's interior design has been developed by in simple comparison with the exterior design. In the 1990s, however, this trend began to change because consumers began spending more time in their cars, so the motive of the technology development became that of giving comfort and functional satisfaction to the customers. Observing how a person spends inside his or her car and considering the latest trends in car interiors have made a consumer-oriented sense of value i.e., intensifying the personality of the car's interior design and considering the emotional makeup of the consumer factor in the acquisition of a strategic brand identity. These days, car interiors assume a new concept every year due to the constant change in various factors, and the application of a high-tech design, with a sensing function and a navigation system, to achieve driverless running, is being raised as a key trend element technology for the future. Now, at the present when multilateral concept applications of design are attempted under the direct influences from other fields such as product design, fashion and furniture, I would like to lay stress on investigating and analysing the changes in car interior design varying with the background of the times and formative characteristics from the object point of view. On this study, I would like to compare the background of the times and flow of car interior design with priority given to crash pad and would like to attempt to present the direction of the future car interior design together with diversifying major technical factors.

• The Journal of Korean Academy of Prosthodontics
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• v.34 no.2
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• pp.349-362
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• 1996

To determine the factors to affect on stone surface porosities produced from hydrogen gas of additional silicone, both putty and syringe type of 7 commercially different additional silicone impression materials(Blend-A-Scon, Correct VPS, Exaflex, Express, Extrude, Provil, Reprosil) were chosen and NewFujirock(GC) was poured into the impressions of detail-reproducing test block at 1, 15, 30, 45, 60 minutes after the impression materials had set and 4 specimens were made for each pouring time, each type of impression material, and each consisency and So, 280 specimens were made in total. The number of surface porosities of same area($2826 mm^2$) which were typically caused by hydrogen gas using the stereoscope(X 7.5) by two observers. Comparison of putty-syringe type and among the impression materials are tested by Kruscal-Wallis method and Mann-Whitney method(p<0.05). The results are as follows. 1. The number of porosities decreased as the pouring time of stone was delayed on both putty and syringe type of additional silicone materials. 2. The putty type significantly produced more porosities than syringe type except for the group of Reprosil.(p<0.05). 3. In case of putty type, the number of porosities increased as following order. Reprosil / Blend-A-Scon and Provil / Correct VPS and Extrude / Express and Exaflex. 4. In case of syringe type, Blend-A-Scon and Extrude produced no porosity and Exaflex and Provil at 30 minites, but Express produced porosities even at 60 minutes and the most. Additional silicone impression material releases hydrogen gas, and that fact can make the resulting die stone model useless. So, to minimize these adverse effects, it is desirable not to expose putty type of additional silicone on critical impression surface because putty type has a tendency to produce more porosities than syringe type. And it is important to have sufficient time before pouring the stone on impression because porosities produce less as time passes after setting of impression material. Also, there are differences among 7 additional silicone impression materials, so it is desirable to choose adequate brand of additional silicone for good laboratory work.

• Journal of the Economic Geographical Society of Korea
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• v.19 no.4
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• pp.597-615
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• 2016

Since 1997 the United Kingdom has pursued creative industry and creative city development in accordance with the New Labor Party policy, strengthening its cluster policy by assigning creative city policies to traditional manufacturing-oriented regions. Tech City in London, one of the most successful examples of digital clusters, is an area in which diverse ecosystems for venture business integration have been established, as the once barren space began to spontaneously develop. For this region, systematic linkages including universities, private companies, start-ups, and accelerators have been added, along with the UK government's active support system. As a result of this opportunity, the scale of the UK start-up ecosystem has significantly grown, the number of local companies has surged, and brand effect has greatly improved. Tech City is an example of a well-balanced combination of public effort and private governance, based on the region's historical background and its potential for growth. It is an effective coordination of public policy and private active investment, services, research, and education. The market platform for institutional technology and commercialization, and aggressive investment shares in the risk, have lead to its growth as a start-up and an innovative city. Britain's efforts to expand the nationwide cluster for the future-oriented digital economy is most noteworthy.

• Culinary science and hospitality research
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• v.20 no.1
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• pp.220-237
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• 2014

This study was intended to survey on the restaurant selection preferences by elderly consumers' values and lifestyle. The survey was residing in Seoul and men and women who were 55 years of age or older to achieve the purpose of this study, the theoretical and empirical research methods research methods were combined. The results of the study are summarized as follows. First, Action oriented intrinsic value of elderly consumers highest lifestyle influence. This is an internal value-oriented elderly consumers to follow the latest fashion trends and challenges in the new one, we enjoyed the service and sometimes want to experience the frenetic fun means. Second, Realization oriented lifestyle on the Brand standards, food quality standards, environmental standards positive effect was found to be Principle oriented life style based on the environment positively influence. This trend Principle oriented lifestyle can talk comfortably while you can relax and quiet around people, mainly from a reputable place, and action-oriented selection of the hotels facilities and senior discount price menu and the service is friendly and Notice that if you use a little less meoleodo, and these results are only for the elderly consumers with access privileges and services using the factors of elderly consumers loyalty and Catering Food service satisfaction should be efforts to raise. Third, elderly consumers select attribute value and proven results Food service elderly consumers based on personal values and lifestyle are different catering companies can select the properties that standard means, elderly consumers are value-oriented properties and select the Food Service Industry catering companies by identifying the active elderly consumers in future marketing strategies to be able to bring a positive impact considered.