• Journal of Global Scholars of Marketing Science
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• v.20 no.2
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• pp.149-163
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• 2010

Previous studies have shown that retail price promotion change consumers' purchase behavior and that retailers use price promotion more frequently. Keeping constant the benefits received by consumers, there are several ways for retailers to communicate a price promotion. For example, retailers can present a price reduction in absolute terms ($, ${\euro}$), percentage terms (%), or some combinations of these two methods (Della Bitta et al. 1981). Communicating a price promotion in different ways is similar to the framing of purchase decisions (Monroe 1990). Framing effects refers to the finding that subjects respond differently to different descriptions of the same decision question (Frisch 1993). Thus, the presentation of the promotion has an impact on consumer deal evaluation and hence retail sales. In fact, much research in marketing attests to the effects of price presentation on deal perception (Lichtenstein and Bearden 1989; Urbany et al. 1988; Yadav and Monroe 1993). In this sense, a number of marketing researches have argued that deal perceptions are also determined by the degree to which consumers are able to calculate the discounts and final purchase prices accurately (Estelami 2003a; Morwitz et al. 1998), which suggests that marketers may be able to enhance responses to discounts by improving calculation accuracy. Consequently, since calculation inaccuracies in the aggregate lead to the underestimation of discounts (Kim and Kramer 2006), consumers are more likely to appreciate a discounted offer following deeper processing of price information that enables them to evaluate a price discount more accurately. The purpose of this research is to examine the effect of different presentations of discount prices on consumer price perceptions. To be more precise, the purpose of this study is to investigate how different implementations of the same price promotion (semantic and visual salience) affect consumers' perceptions of the promotion and their purchase decisions. Specifically, the analysis will focus on the effect of price presentation on evaluation, purchase intentions and perception of savings. In order to verify the hypotheses proposed in the research, this paper will present an experimental analysis dealing with several discount presentations. In this sense, a2 (Numerical salience presentation: absolute and relative) x2 (Worded salience presentation: novel and traditional) x2 (Visual salience: red and blue) design was employed to investigate the effects of discount presentation on three dependent variables: evaluation, purchase intentions and perception of savings. Respondents were exposed to a hypothetical advertisement that they had to evaluate and were informed of the offer conditions. Once the sample finished evaluating the advertisement, they answered a questionnaire related to price salience and dependent dimensions. Then, manipulation checks were conducted to ensure that respondents remembered their treatment conditions. Next, a $2{\times}2{\times}2$ MANOVA and follow-up univariate tests were conducted to verify the research hypotheses suggested and to examine the effects of the individual factors (price salience) on evaluation, purchase intentions and perceived savings. The results of this research show that semantic and visual salience presentations have significant main effects and interactions on evaluation, purchase intentions and perception of savings. Significant numerical salience interactions affected evaluation and purchase intentions. Additionally, a significant worded salience main effect on perception of savings and interactions on evaluation and purchase intentions were found. Finally, visual salience interactions have significant effects on evaluation. The main findings of this research suggest practical implications that firms should consider when planning promotion-based discounts to attract consumer attention. Consequently, because price presentation has important effects on consumer perception, retailers should consider which effect is wanted in order to design an effective discount presentaion. Specifically, retailers should present discounts with a traditional style that facilitates final price calculation. It is thus important to investigate ways in which marketers can enhance the accuracy of consumers' mental arithmetic to improve responses to price discounts. This preliminary study on the effect of price presentation on consumer perception and purchase intentions opens the line of research for further research. The results obtained in this research may have been determined by a number of limiting conceptual and methodological factors. In this sense, the research deals with a variety of discount presentations as well as with their effects; however, the analysis could include additional salience dimensions and effects on consumers. Furthermore, a similar study could be carried out including a larger, more inclusive and heterogeneous sample of consumers. In addition, the experiment did not require sample individuals to actually buy the product, so it is advisable to compare the effects obtained in the research with real consumer behavior and perception.

• Journal of Family Resource Management and Policy Review
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• v.11 no.4
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• pp.1-20
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• 2007

The purpose of this study was to identify the criteria of evaluating a price-comparison website, and to investigate the consumers' perceived importance and satisfaction of each criterion. Also, it compared both the importance and satisfaction levels based on consumers' socio-economic and Internet-usage characteristics. Data for this study came from a questionnaire completed by consumers (n=417), who had used the price-comparison website, and were analyzed through factor analysis, t-test, and ANOVA. The findings of the study were as follows: First, the evaluation criteria of the price-comparison website were categorized into five variety of information, accuracy, convenience, credibility, and the website system. Second, convenience of searching information was seen by consumers as both the most important and most satisfactory criterion. Variety of information was also considered important. For most of the evaluation criteria, the level of consumers' satisfaction was significantly lower than the level of consumers' recognized importance. Third, consumers in their 20s, students, and housewives were less likely to be satisfied by the price-comparison website overall. Older people were less likely to be satisfied with the convenience of the website, and the higher-income group was less likely to be satisfied with the variety of information on hand.

• Journal of the Korean Society of Clothing and Textiles
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• v.31 no.4 s.163
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• pp.495-506
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• 2007

As imported fashion products are increasing in the marketplace, country of origin information becomes a powerful product cue that can be used to gain competitive advantages of fashion brands. This study assessed the impact of multiple country of o.igin information(origin of brand and origin of production) on attitude toward the brand and product evaluation. Especially, the influence product price level was also examined. Jean was used as product stimuli and students were respondents for the empirical study. Results of this study affirmed the importance of country of brand origin and price information in brand attitude formation and product evaluation. Country of brand origin information and interaction effects of brand origin-price were significant for brand attitude formation. Country of brand origin and price information had significant influence on evaluation of Jean products.

• Journal of the Korea Institute of Building Construction
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• v.4 no.3
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• pp.117-124
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• 2004

This study aims to evaluate the feasibility of remodeling business by predicting the future price of apartment house after remodeling using Hedonic Price Model. The data concerning such 8 independent variables as location, unit size, unit plan, landscape, parking, the number of elapsed years after completion, number of units, brand per apartment unit from 25 regions in Seoul metropolitan city were collected and evaluated by established evaluation criteria. The coefficients affecting the price of apartment unit were made by way of linear multi-regression and put into Hedonic Price Model. The feasibility evaluation model for apartment was made and verified by data of remodelled apartment. The predicted results using suggested evaluation model coincide with actual apartment market situations.

• Fashion & Textile Research Journal
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• v.4 no.6
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• pp.517-523
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• 2002

This study examines whether there are differences in consumer's evaluation price zone on the clothing clue (the type of clothing, brand, time of fashion, place of origin, material. submaterial, place for sale) according to consumer purchasing behavior. Therefore the ultimate goal is to offer help in fixing price when establishing marketing of the clothing industry by grasping the actual price set by consumers under the IMP system. The female consumers of 20s and 30s were chosen as study subjects for their sensitivity to the purchase of clothing. The tests carried out in this research are: SPSSIPC+ is used for frequency Analysis. The Results of this study are showed as the following: It was analyzed that 4 types of consumer are the reasonable consumption oriented consumer, fashion oriented consumer, the no care of fashion consumer and high price oriented consumer Among the several kinds such as the type of clothing, brand, time of fashion, place of origin, material, submaterial, place for sale, only on the type of clothing, there are difference in the type of the consumers, on the time of buying clothes, in the behavior of buying clothes and also on the degree of fashion and the place of origin among such kinds.

• Journal of Global Scholars of Marketing Science
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• v.16 no.2
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• pp.77-94
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• 2006

The purpose of this study was to identify the consumers who use the level of price as the indicator of the product quality and calibrate the price response function with price-dependent quality evaluation. In order to implement the purpose of this study, Home theater market in China had been segmented by the mixture regression model, and price response function was calibrated at segment level. Based on the types of price response function, segments were allocated into one of two groups; the group using the level of price as the quality indicator or the group not using the level of price as that. Then, characteristics of both groups were compared in terms of product attributes and demographic variables.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.23 no.6
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• pp.187-200
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• 2020

Despite the eco-friendly route plan, road slopes were collapsed due to road construction, resulting in human and property damage. To solve this problem, the Ministry of Land, Transport and Maritime Affairs established guidelines in 2009 to conduct a test-bed for slope recording considering the conditions of the site and the ecological environment, and divided them into recording quality and economic evaluation. The following results were obtained by analyzing 183 construction methods of cut-soil sections at 60 sites from 2012 to 2018 for road slope afforestation research. Straw net+seedspray, vegetation media spray method 1T, 3T were used the most, and vegetation media spray method 3T(patent) was excellent in quality, and straw net+seedspray was excellent in economics. As a result of analyzing the market unit price and the construction unit price, vegetation media spray method submitted the construction unit price at up to 60% lower than the market unit price. As a result of the analysis of the key factors of the greening method evaluation, the economic assessment had the greatest influence on all evaluation items. Problems in the evaluation method of revegetation were first identified as problems in the allocation of points and secondly as problems in the evaluation criteria. As for the improvement of the economic assessment criteria, the method was proposed to evaluate the same method based on market unit price when the same method was constructed, and not to conduct an economic assessment if there was a difference in market unit price between methods, or to add weight to the scores. Based on the monitoring data of 60 road slopes, this study drew up problems and improvement measures. However, with regard to scoring, research on appropriate scoring is needed by examining the current status.

• Fashion & Textile Research Journal
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• v.11 no.4
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• pp.537-548
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• 2009

Consumers' price related response in the clothing purchase decision-making process includes their expectation of price, price perception, attitude toward price and consequent behaviors. The purposes of this research are to systematically organize consumers' price related responses in the clothing purchase decision-making process, and to explain the effect of price on their purchasing. The qualitative research including shopping observation and in-depth interview was conducted. The result identified stages that showed different price related responses in clothing purchase decision-making process, and clarified each stage's characteristics. In the internal search stage, consumers recalled price information from memory and had a specific expectation about the price. This set a direction for the external search. In the external search stage, consumers selected brands or stores by a non-compensatory evaluating with an expectation of the price, and narrowed these down to several determinant alternatives by actively evaluating the products. In case a sufficient amount of price information was not recalled, the consumer established reference price through the external search. Finally, in the purchasing stage, consumers evaluated the determinant alternatives based on their compensatory evaluation. When perception of price was negative, consumers evaluate price combined with the higher criteria of clothing benefits, such as symbolic value and usability. The research is expected to contribute to predicting consumers' responses to price, and to establishing an effective pricing strategy.

• Korean Management Science Review
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• v.29 no.1
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• pp.33-56
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• 2012

Domestic LCD TV market is composed of two groups of products produced by major firms and small and medium enterprises. The major companies make the price relatively high, but the other makes lower in the same sizes. The model of the low price products does not make consumers choice when they choose LCD TV. This makes the questions of capability between difference price products. The reason above mentioned, the firms that include group of comparatively lower price, are worried about not increasing sale because of prejudice. This study is to find any interrelationship and evaluate the efficiency between the products using performance, exterior and brand power of product. In order to do this, a hybrid AHP/DEA evaluation model for comparison/valuation of LCD TV products is developed. The proposed process is; first, to derive hierarchy structure of LCD TV evaluation criteria using axiomatic design, second, to calculate the score of each LCD TV product through AHP analysis including weight calculation of evaluation criteria, and last, to evaluate the efficiency of LCD TV product by applying DEA by defining product scores as output and prices as input. It concludes that the high price products shows good efficiency, but there are some products with good exterior and brand power, not performance, also presenting good efficiency.

• Journal of the Korean Society of Costume
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• v.54 no.6
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• pp.1-12
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• 2004

Price is one of the most important components of marketing mix. For consumers, price is an always-existing cue and definite evaluation criteria. However, information on price is meaningful only when it is perceived. Sources of price perception can be the actual retail price at the selling point, the internal reference price expected by consumers for a certain clothing product, and the external reference price advertised by marketer such as the price before mark-down. The purpose of this study was to investigate the influence of internal reference price on consumers' purchasing process of clothing products. A questionnaire including clothing stimuli was developed in order to assess consumers' internal reference price level. Usable data from 680 adult female urban residents were used for data analysis. Results indicated that consumers with relatively lower internal reference price tend to react low-price focused external reference price and use discount stores and unit price promotions. Consumers with relatively higher internal reference price advertisement are likely to have higher level of education, tend to infer price information to higher quality or prestige of products, and purchase clothing with regular retail price or coupons.