• Title/Summary/Keyword: New Product Strategy

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[Review] The Impact of Character Collaboration Product Characteristics on Brand Awareness and Purchase Intention: Focusing on F&B Products

  • Kyung Tae JANG;Senghyeon LEE;Seong-Soo CHA
    • The Korean Journal of Food & Health Convergence
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    • v.10 no.2
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    • pp.1-5
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    • 2024
  • This study aims to investigate the impact of character collaboration product characteristics on brand awareness and purchase intention within the food and beverage (F&B) industry, with a special focus on Generation MZ's growing interest in such products. The methodology involves a comprehensive review of existing literature on character marketing, brand awareness, and consumer purchase intention, supplemented by case studies of successful character collaborations in the F&B sector. The findings reveal that character collaborations significantly impact brand awareness and purchase intentions, particularly among younger consumers like Generation MZ. These collaborations not only rekindle nostalgia but also introduce new and exciting consumer experiences, effectively attracting a wide demographic. The success of character-themed products, from Pokémon bread to Coca-Cola's League of Legends collaboration, underscores the strategy's effectiveness in boosting brand recognition and consumer engagement. The implications of this research are manifold for the F&B industry. Firstly, it highlights the importance of leveraging popular characters to forge emotional connections with consumers. Secondly, it suggests that product development should closely align with consumer preferences and market trends to maximize appeal. Lastly, it positions character collaboration as a strategic marketing tool that not only enhances product sales but also strengthens brand loyalty and facilitates sustained brand growth.

Situations of GAP certified ginseng and 4P's strategies (GAP 인증인삼 현황과 4P 전략)

  • Hong, Seung-Jee;Kim, Kwan-Hoo
    • Korean Journal of Agricultural Science
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    • v.38 no.2
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    • pp.369-381
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    • 2011
  • Ginseng in Korea has not only the big production value but also till a good reputation from overseas in the name of 'Korea Ginseng'. Having spread rapidly nationwide from 2000 year, its production keeps on increasing but its consumption becomes lazy and its price is also falling down because of comsumer's concern about mainly overusing pesticide for ginseng. In order to cope with this problem, the government introduced the GAP certification system to ginseng in 2006 to reflect consumer's needs for food safety. This system will be a good opportunity to promote ginseng consumption dramatically. In this aspect it is very important to know how well this system is established and how ginseng farmers build marketing strategies to draw new wind in the market. This study was carried out to look over the GAP certified ginseng system and show its marketing strategies using 4P's(product, place, promotion and price). The main results are as follows. GAP ginseng system currently has some weaknesses such as lack of systematic certification management and after-service, nonrealistic certification fee and poor linkage from production to consumption. In the marketing mix strategies, product strategy suggests that the most desirable appearance be transplanted ginseng filled with branch roots and 4 to 5 year-ginseng, and it is necessary to choose multi-brand strategy divided for present into for self-sufficiency and family brand strategy by use if its brand enlarges to processed products in the future. In the place strategy, 3 stages like 'producer group' - 'GAP certified facility' - 'sales shop' are based as the physical marketing channel according to traceability, and connected with giant retail market and environment friendly stand, and if its sales volume enlarges, it should be considered the GAP ginseng specialized marketplace which is a type of chain store. In the promotion strategy, the promotion of government level is necessary at first and producer alliances require the promotion targeting at the group of women under 40 with differentiation from price, quality, and safety. In the price strategy, the early stage-high price strategy which sets 20~25% higher for self-sufficiency and 30~35% for present is desirable.

Optimal Scheduling of Multi-product Batch Process for Common Intermediate Storage Policy; A Model for Batch Process Automation (다품종용 회분식 공정에서의 중간 저장 탱크 공유를 위한 최적 생산계획 ; 회분식 조업의 자동화 모델)

  • 정재학;이인범;양대륙;장근수
    • 제어로봇시스템학회:학술대회논문집
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    • 1992.10a
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    • pp.303-308
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    • 1992
  • In this study, we propose a shared storage system which is more efficient policy than MIS(Mixed Intermediate Storage) policy for relatively rare storage system and can be called CIS(Common Intermediate Storage) policy. Using this strategy, we develop a new completion time algorithm and apply it to two kinds of optimal or near optimal scheduling method; combinatorial search and simulated annealing method. We also extend this strategy to other storage policy, for example MIS policy, with PLC(Programmable Logic Controller) logic and on/off action of electronic valves. It thus can be accepted as a basic form of FMS(Flexible Manufacturing System) for operating various storage policies. Finally we suggest the interlocking block to compansate for the shortcoming of CIS policy, i.e, complication of operation and safety, resulting in a basic batch process automation mode.

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A Study on Family Restaurant Customer Satisfaction Evaluation (패밀리 레스토랑의 고객만족 IPA 분석에 관한 연구)

  • 양태석;박준규
    • Culinary science and hospitality research
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    • v.8 no.2
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    • pp.173-195
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    • 2002
  • In Korea, most family restaurants run on interior, menu and service of nearly the same approach. This fact indicates that product itself is no longer a primary source they can rely on to compete successfully. To survive the keener competition, family restaurants need to come up with new management strategy. The kind of strategy that is fundamentally differentiated from the existing ones are required, by thoroughly analyzing what customers want. The purpose of this study was to examine the actual status of family restaurants, how much they were considered significant by their customers, and how much satisfaction the customers felt. There are some limitations in this study, which should be taken into account by future researches for more successful results: First, income was one of the demographic variables investigated in this study. Second, it's easy to find out the disposition of those in their 20s, but there were a lot of difficulties in identifying the family restaurant significance and satisfaction of people in their 30s and over. Third, this researcher was too subjective in sorting out tile significance and satisfaction attributes, which made it hard to test the validity of the selected attributes.

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The Relationship among Perceived Quality, Value, Satisfaction, and Loyalty - Focused on the Discount Retail Store - (지각된 품질, 가치, 만족 및 충성도의 관계 - 대형할인점을 중심으로-)

  • Oh, Jae-Sin;Chung, Ki-Han;Kim, Dae-Up
    • Journal of Industrial Convergence
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    • v.3 no.1
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    • pp.55-77
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    • 2005
  • Recently the environment which besieges distribution system is changing suddenly. With opening the distribution market together the advanced various nations new multinational discount stores are introduced and the competition from this market is growing in intensity. Like this change is raising the recognition of the enterprises against the strategy importance of the distribution channel. Consequently, from under competing which is deepened from the hazard where the discount point industry exists what, it will not be able to do the customer-oriented management which it sees. To lead a customer satisfaction finally and it is important to put out. As only low price standing sale it will not be able to create a competitive advantage and raising the quality also it is demanded with the diversification of product assortment together. It does a customer loyalty degree further firmly and compared to the long-range strategy is necessary.

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Factors Affecting the Sales of Newspapers and Magazines Based on Concise Catalog

  • Dayou Jiang
    • Journal of Information Processing Systems
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    • v.19 no.4
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    • pp.498-512
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    • 2023
  • The traditional newspaper industry faces the opportunities and challenges of industry transformation and integration with new media. Consequently, the catalogs of newspapers and magazines are also updated. In this study, necessary information on catalogs was obtained and used to analyze the overall development trend of the newspaper industry. A word frequency analysis was then performed on the introduction and product categories of the catalogs, and the content and types of newspapers and magazines were examined. Furthermore, related factors such as price, number of pages, publishing frequency, and best-selling status were analyzed; the correlation among factors affecting best-selling status was also explored. Subsequently, each element and a combination of elements were used to generate a dataset, build three classification models, and analyze the accuracy of predictions of whether newspapers sold well under other circumstances. The experimental results showed that price is the most critical factor affecting the best-selling status of newspapers and magazines. Publishing frequency and the number of pages were also found to be significant indicators that impact people's subscription choices. Finally, a competitive strategy regarding content, price, quality, and positioning was developed.

The differences of Product Attitude and Purchase Intention of Mobile Convergence among Consumers (소비자 유형별 모바일 컨버전스의 제품태도 및 구매의도의 차이)

  • Kim, Moon-Tae
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.5
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    • pp.366-374
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    • 2017
  • In this study, we present a new product strategy corresponding to the needs of the consumer segment in the mobile convergence industry, which is a field with a very high interest, and the implications are as follows. First, we believe that mobile convergence will lead the market for products that are regarded by consumers as innovative. Second, it can be seen that it is more attractive to consumers to dramatically improve existing functions than to add multiple functions that are not so important. Third, the type of convergence preferred by each type of consumer differs. For consumers who are less innovative, less professional and more technologically fatigued, it was shown that breakthrough improvements in existing technologies lead to better evaluations than adding multiple innovations. In addition, highly innovative consumers are more likely to appreciate the addition of a variety of mediocre features, such as less convergent innovations than the existing ones, as well as mobile convergence. Moreover, there was no significant difference in the product attitudes between the consumers with low technological fatigue and the highly innovate ones.

A study on the Success Factors and Strategy of Information Technology Investment Based on Intelligent Economic Simulation Modeling (지능형 시뮬레이션 모형을 기반으로 한 정보기술 투자 성과 요인 및 전략 도출에 관한 연구)

  • Park, Do-Hyung
    • Journal of Intelligence and Information Systems
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    • v.19 no.1
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    • pp.35-55
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    • 2013
  • Information technology is a critical resource necessary for any company hoping to support and realize its strategic goals, which contribute to growth promotion and sustainable development. The selection of information technology and its strategic use are imperative for the enhanced performance of every aspect of company management, leading a wide range of companies to have invested continuously in information technology. Despite researchers, managers, and policy makers' keen interest in how information technology contributes to organizational performance, there is uncertainty and debate about the result of information technology investment. In other words, researchers and managers cannot easily identify the independent factors that can impact the investment performance of information technology. This is mainly owing to the fact that many factors, ranging from the internal components of a company, strategies, and external customers, are interconnected with the investment performance of information technology. Using an agent-based simulation technique, this research extracts factors expected to affect investment performance on information technology, simplifies the analyses of their relationship with economic modeling, and examines the performance dependent on changes in the factors. In terms of economic modeling, I expand the model that highlights the way in which product quality moderates the relationship between information technology investments and economic performance (Thatcher and Pingry, 2004) by considering the cost of information technology investment and the demand creation resulting from product quality enhancement. For quality enhancement and its consequences for demand creation, I apply the concept of information quality and decision-maker quality (Raghunathan, 1999). This concept implies that the investment on information technology improves the quality of information, which, in turn, improves decision quality and performance, thus enhancing the level of product or service quality. Additionally, I consider the effect of word of mouth among consumers, which creates new demand for a product or service through the information diffusion effect. This demand creation is analyzed with an agent-based simulation model that is widely used for network analyses. Results show that the investment on information technology enhances the quality of a company's product or service, which indirectly affects the economic performance of that company, particularly with regard to factors such as consumer surplus, company profit, and company productivity. Specifically, when a company makes its initial investment in information technology, the resultant increase in the quality of a company's product or service immediately has a positive effect on consumer surplus, but the investment cost has a negative effect on company productivity and profit. As time goes by, the enhancement of the quality of that company's product or service creates new consumer demand through the information diffusion effect. Finally, the new demand positively affects the company's profit and productivity. In terms of the investment strategy for information technology, this study's results also reveal that the selection of information technology needs to be based on analysis of service and the network effect of customers, and demonstrate that information technology implementation should fit into the company's business strategy. Specifically, if a company seeks the short-term enhancement of company performance, it needs to have a one-shot strategy (making a large investment at one time). On the other hand, if a company seeks a long-term sustainable profit structure, it needs to have a split strategy (making several small investments at different times). The findings from this study make several contributions to the literature. In terms of methodology, the study integrates both economic modeling and simulation technique in order to overcome the limitations of each methodology. It also indicates the mediating effect of product quality on the relationship between information technology and the performance of a company. Finally, it analyzes the effect of information technology investment strategies and information diffusion among consumers on the investment performance of information technology.

Conjoint Analysis for the Development of New Cellular Phone (휴대전화기 신제품 개발을 위한 컨조인트분석)

  • Kim, Bu-Yong
    • Journal of Korean Society for Quality Management
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    • v.33 no.4
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    • pp.103-110
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    • 2005
  • Advanced function has been considered to be the most important aspect of the cellular phone. However, leading companies are now implementing the fashion branding strategy which stresses both high technology and appealing design. By means of the conjoint analysis, this research focuses on identifying the preferred design profile related to style of the key cover, color and texture of the case, and presence or absence of the noctilucent material coated on the part of surface. We also evaluate the relative importance of factors to determine the design concept of new cellular phone. Results indicate that consumers most prefer the silver-colored, sliding key cover phone with soft and noctilucent surface.

A Decentralized Self-Control Strategy for Assembly Cell Using Bucket Brigade (Bucket Brigade를 기반으로 한 분산자율형 조립셀 운영전략)

  • Koo, Pyung Hoi
    • Journal of Korean Institute of Industrial Engineers
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    • v.41 no.4
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    • pp.330-337
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    • 2015
  • A bucket-brigade is a way of transporting items where items are passed from one person to the next. The operation of the bucket brigade imitates the cooperative behavior of ants when brood, food or other resources are moved. Koo (2009) presented a bucket brigade-based assembly cell where each worker follows a simple rule: perform assembly operations on a product until the next worker downstream takes it over; then go back to the previous worker upstream to take over a new assembly job. In this way, the flow line is self-balanced without any predetermined job assignment. However, there are some productivity losses related to hand-off and blocking. This paper examines the hand-off and blocking losses and presents a new bucket brigade-based assembly cell where working areas for each assembler is restricted with the help of buffer interfaces. Simulation experiments are used to validate the performance of the new assembly system.