• Korean Journal of Community Nutrition
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• v.11 no.2
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• pp.253-260
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• 2006

The purpose of this study was to suggest menu pricing strategy based on understanding about customer perceived value of products and services. The technique known as PSM (Price Sensitivity Measurement) was used for analysis of price sensitivity for 3 menu items of a family restaurant in Seoul. A questionnaire was developed through literature review and modified after pilot test. Questionnaires for the main survey were distributed to 250 customers on their visit to the restaurant, and a total of 138 questionnaires were used for analysis (55.2%). The statistical analysis of price sensitivity was conducted using PSM, and descriptive analyses were conducted using SPSS Win (12.0). The main results of this study were as follows: the price sensitivity of beef tenderloin steak was higher than two other menus and the stress range of teriyaki chicken was almost 0, that is, the price sensitivity of teriyaki chicken was very low. Present menu prices of 3 menu items were within the range of acceptable prices, but had some distances from the optimal pricing point. From the result of this study, it was concluded that price adjustment or price promotion strategy would be effective for increase in sales of beef tenderloin steak, and marketing strategies to enhance consumers' perceptions of value should be conducted for all menu items by situations. Overall, PSM technique could be a helpful tool for researchers and managers of foodservice organizations to understand how consumers' perceptions of value are affected by the interaction of price and quality.

• KIEAE Journal
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• v.7 no.3
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• pp.11-20
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• 2007

The purpose of this study is to analyse the effects of the eco-friendly factors on the apartment housing price rise and to suggest the desirable way of marketing strategy for apartment housing. For the analysis, the data of apartment sites in Seoul had been collected from September 2006 to February 2007. The data consisted of 95 apartment sites in Seoul. Data were analyzed with descriptives, crosstabs, and discriminant analysis by SPSS/PC for Window. Following result was obtained. The eco-friendly apartment housing price rate in Seoul was determined by eco-friendly landscape, green space rate, house unit size, installment sale price per pyeong, floor space index, distance from subway station when it was not considered the impact of building age, construction company's brand, and autonomous districts. Findings of this research can provide valuable information for marketing strategy of housing construction company.

• Journal of Electrical Engineering and Technology
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• v.10 no.4
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• pp.1480-1491
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• 2015

In new deregulated electricity market, short-term price forecasting is key information for all market players. A better forecast of market-clearing price (MCP) helps market participants to strategically set up their bidding strategies for energy markets in the short-term. This paper presents a new prediction strategy to improve the need for more accurate short-term price forecasting tool at spot market using an artificial neural networks (ANNs). To build the forecasting ANN model, a three-layered feedforward neural network trained by the improved Levenberg-marquardt (LM) algorithm is used to forecast the locational marginal prices (LMPs). To accurately predict LMPs, actual power generation and load are considered as the input sets, and then the difference is used to predict price differences in the spot market. The proposed ANN model generalizes the relationship between the LMP in each area and the unconstrained MCP during the same period of time. The LMP calculation is iterated so that the capacity between the areas is maximized and the mechanism itself helps to relieve grid congestion. The addition of flow between the areas gives the LMPs a new equilibrium point, which is balanced when taking the transfer capacity into account, LMP forecasting is then possible. The proposed forecasting strategy is tested on the spot market of the Nord Pool. The validity, the efficiency, and effectiveness of the proposed approach are shown by comparing with time-series models

• Journal of the Korea Fashion and Costume Design Association
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• v.9 no.2
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• pp.155-166
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• 2007

The purpose of the research is to provide the operation plans of internet marketing for effective application as marketing tools by analyzing the application status of marketing mix through the 30 websites of sportswear brands. Firstly, a study on the marketing mix strategy of sportswear brands presents that most brands put a high priority on promotion strategy by achieving online marketing. Secondly, compared with the other company brands which have online shopping mall, the website of sportswear brands consists of centered brand image. Therefore, based on the analysis about the variety of products and merchandise picture in each item and detailed information offer of neo-products introduction, marketing mix is insufficient in the website of sportswear and the price strategy has the least information. After website of sportswear brands is connected with online-shopping mall, guidance for its price and product is performed mainly. Consequently the sales promotion strategy of price needs development through the incentive and discount price. Promotion strategy occupies more parts than any other strategy. Especially, it allows a high proportion of the variety of events and information for the customer services. Also it needs to improve its bulletin board and Q&A board on the website for better communication with customers. Furthermore distribution strategy focuses on information such as location, contact numbers and address of the online shopping mall. Although online shopping mall has its own advantage which is marketing on the internet, it is not yet in progress.

• Journal of Korean Society of Forest Science
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• v.97 no.1
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• pp.118-126
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• 2008

This research was conducted to develop pricing strategy based on understanding about customer perceived value of lodging facilities in national recreation forest. The technique known as PSM (price-sensitivity measurement) was used for analysis of price sensitivity for two kinds of lodging (log-cabin and forest-hotel) and for room sizes (4, 5, 6, 7 persons). PSM questionnaire for on-site survey were distributed to 236 customers on their visit to the six national recreation forests. The main results of this study were as follows: the price sensitivity of big size was higher then small, also, the price sensitivity of log cabin was higher then forest-hotel. Present prices were within the range of acceptable prices except prices of the use of 6 and 7 person of log-cabin. From the result of this study, it was concluded that price adjustment or price promotion strategy would effective for increase in sales and marketing strategies to enhance consumers' perceptions of value should be conducted for two room types by situations.

• Journal of the Korean Society of Clothing and Textiles
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• v.27 no.9_10
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• pp.1081-1092
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• 2003

The purpose of this study was to identify the current situation of textiles and apparel firms in the overseas markets and to examine the relationship between firms' characteristic(i.e., sales volume) and international marketing strategies. A random sample of 311 textiles and apparel firms were selected. The survey design method was used to test conceptual framework. Adjusted response rate was 33.4%(n=115). Descriptive analysis (i.e., frequency, percent) and $\chi$$^2$-test were used for data analysis. About the current situation of textiles and apparel firms in the overseas markets, the motivation for international market entry was highly found to expand their operation from domestic to international market, and most firms were found to be involved with OEMs(Original Equipment Manufacturers) as an entry mode for international market. China and US market were the most popular market among Korean textiles and apparel firms. Product differentiation strategy, pricing strategy based on manufacturing cost and buyer's offering price, place strategy using foreign buyers and participating a few international exhibition were frequently used among Korean textiles and apparel firms for international marketing. Among textile firms, sales volume was related to product strategies(product development), price strategy(buyer's offer) and place strategy(channel). Among apparel firms, product strategy(product labeling), price strategy(price satisfaction). The findings of this can be used when Korean textiles and apparel firms do strategic planning and evaluate the international marketing strategies. Also information and results of this study may assist policy makers to develop better ideas and strategies for textiles and apparel industry.

• Journal of Distribution Science
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• v.11 no.4
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• pp.61-72
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• 2013

Purpose - It is widely accepted that the process of developing marketing strategy is composed of three steps: market segmentation, target market selection and positioning. However, mass marketing strategy based on cost reduction through economies of scale and standardized products, can be also an effective strategic option. Many marketing scholars including Theodore Levitt emphasize the importance of applying the mass production concept to various industries including service industries. Especially, in times of economic downturn, the capability of providing consumers with low-priced, value products can be an important source of competitive advantage, as well as the ability of providing high-priced premium products. Marketers should decide whether they will implement mass marketing strategy or target marketing strategy. The present study theoretically shows that firms should understand the target customers' price elasticity as well as the firm's cost structure in order to make such a strategic decision. Research design, data, and methodology - Instead of implementing an empirical study, this study provides a theoretical(mathematical) investigation on the effect of consumers' price elasticity on a firm's optimal price level, profit, sales volume, revenue, and cost. The results are mostly deduced from derivative calculations and several graphs are utilized to represent the results on the relationships between the variables under study. Results - The analytical results suggest that it is more profitable for a firm to adopt the segment/target marketing strategy (more specifically the differentiation strategy) when the degree of consumers' heterogeneity is high and the proportion of the fixed cost in the total cost is low. On the other hand, if the degree of consumers' heterogeneity is low and the fixed cost is high, it is better to adopt the mass marketing strategy or the cost leadership strategy. The strategy of concentrating on a single target market will be effective when consumers' needs are highly heterogeneous but the fixed cost is high. Any of the three types of generic strategies proposed my Porter(1980, 1985) can be applied when both the consumers' heterogeneity and the fixed cost are low. This study also proposes the contribution-margin-based method for developing the optimal pricing strategy. Conclusions - One of the primary roles of marketers is to find a proper compromise between the two conflicting goals of maximizing customer satisfaction and minimizing cost. In order to do so, he or she should understand the characteristics of the target customers as well as the cost structure of the firm. In addition to the theoretical analyses, this study discusses several business cases and explains how superior companies find the optimal compromise position between these two goals and dominate the market. One of the radical changes recently taking place in business arena is the reduction of production and distribution costs of both physical goods and information due to the advancement and the wide diffusion of information technology. The cost reduction combined with lowered priced elasticity incurred by customized products and services, will enable many firms to adopt the mass customization strategy.

• Journal of the Korean Data and Information Science Society
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• v.28 no.4
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• pp.819-829
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• 2017

The aim of this study is to analyze intraday price momentum. When price trends are formed, price momentum is the phenomenon that future prices tend to follow the trend. When the market opened and closed, a U-shaped trading volume pattern in which the trading volume was concentrated was observed. In this paper, we defined price momentum as the 10 minute trend after market opening is maintained until the end of market. The strategy is to determine buying and selling in accordance with the price change in the initial 10 minutes and liquidating at closing price. In this study, the strategy was empirically analyzed by using minute data, and it showed effectiveness, indicating the presence of an intraday price momentum. A pattern in which returns are increasing at an early stage is called a J-shaped pattern. If the J-shaped pattern occurs, we have found that the price momentum phenomenon tends to be stronger than otherwise. The DTW algorithm, which is well known in the field of pattern recognition, was used for J-shaped pattern recognition and the algorithm was effective in predicting intraday price movements. This study showed that intraday price momentum exists in the KOSPI200 futures market.

• Journal of the Korean Society of Clothing and Textiles
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• v.32 no.1
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• pp.45-54
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• 2008

The purposes of this study are to examine consumer's perception about salesperson services of fashion stores, and how salesperson services influence on consumer's satisfaction, repeat purchase intention by price perception. The data was obtained from a survey of 420 fashion product consumers in their 20's living in Gwangju city in 2006. It was analyzed by factor analyses, reliability, frequency, T-test, regression. The results of the survey were: 1) Salesperson service dimensions perceived by fashion product consumers were 4 dimensions: Customer service orientation,. Relationship orientation, Reliability & sales ability, Salesperson's appearance. 2) Salesperson services influenced on satisfaction of high price perception group and low price perception group. 3) Satisfaction and salesperson service importance influenced on repeat purchase intention of high price perception group and low price perception group. 4) The difference of salesperson services perceptions by store types were examined. The findings of this study are expected to help fashion stores make successful relationship strategy according to price strategy and keep the relationship with their customers for a long time in fashion retail setting.

• Korean Journal of Organic Agriculture
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• v.12 no.3
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• pp.317-331
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• 2004

Foci of this thesis arc an estimation of willingness to pay and an establishment of green marketing strategics for environment-friendly agricultural products(EFAR). Estimations of willingness to pay for grain, vegetables, fruit and processed food-stuffs arc respectively 20.6%, 20.2%, 19.3% and 17.2% higher than agricultural products produced by conventional farming method. And a green mark6ting mix for EFAP is as follows; Erst, a product strategy focuses on producing safe and high-quality foods by environment-friendly agriculture(EFA) to point to consumer’s health and desire for environmental preservation. Second, in a price strategy, the balance of three factors should be kept, namely the environmental value the true quality as food materials and the price of EFAP. Third, a place strategy is to reduce waste matters, resource and energy uses in marketing chain, and to simplify marketing channels. Also, it is necessary to choose the marketing channel for price discrimination. Fourth, a promotion strategy make use of programs that emphasize the multi-function of EFA.