• Journal of Korean Society of Industrial and Systems Engineering
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• v.40 no.1
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• pp.131-143
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• 2017

As the number of tourists visiting Seoul are continuously increasing, the demand of an integrative tour pass is also increasing. However, only a few tour passes are available for the tourists in Seoul. In this paper, we propose a new tour pass called "Seoul Landmark Pass" targeting foreign individual travelers and investigate the marketability of the proposed tour pass. For the configuration of the Seoul Landmark Pass we listed 17 candidate attractions charging entrance fee in Seoul, referring to e-guidebook on Visit Seoul web site. Among them we selected 6 attractions using the checklist with the attributes that foreign tourists would prefer. We also performed SWOT analyzes on existing tour passes to determine the benefits to be included in the proposed tour pass. To investigate the marketability of the proposed tour pass we have surveyed the foreign individual tourists in Seoul. Using the survey data, we have analyzed the intent of purchase by age, visiting period, visiting purpose, frequency of visit, and nationality to identify target customers. The results show that the intent of purchase is high among the Chinese tourists at the age of twenties who visited Seoul for the first time or second times. Also, the individual tourists prefer to bundle T-money card with the proposed tour pass. Finally, we have provided a brief review of the Price Sensitivity Measurement (PSM) method and applied PSM to determine the acceptable price range and the optimal price of the proposed tour pass. The optimal price of the proposed tour pass is determined at 53,000 won including T-money card.

• Journal of the East Asian Society of Dietary Life
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• v.19 no.2
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• pp.278-286
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• 2009

Restaurants have two strategic levers for revenue management: duration control and demand-based pricing. Reducing dining times, especially during peak periods, can add considerable revenue for restaurants. Managing meal duration, however, can be far more complex than manipulating the price. This paper examines dining duration expectations for restaurants types(Family, Korean, Quick service restaurant), customers characteristics(gender, age, occupation, meal period, visiting frequency, dining occasion, dining companions) using an a adaptation of a price sensitivity measurement tool, naming it 'Time Sensitivity measurement tool' or TSM. The TSM is then used to derive the optimal time points, and the range of acceptable times. The results demonstrate that there is a relatively wide spread of acceptable dining duration times in family restaurant. Furthermore, the optimal time points was shorter than the mean expected dining times, which suggests that many restaurants may be able to shorten dining duration without compromising customer satisfaction. The paper explores whether demographic and dining variables have an impact on time preferences, and finds whether gender, age, meal periods, visiting frequency, and dining companion effects are significant. Specifically, women in their thirties tended to prefer a significantly longer dining times for dinner.

• Journal of Korean Society of Forest Science
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• v.103 no.4
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• pp.696-702
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• 2014

This study was conducted to provide resonable price of timber that come out from certified forests for sustainable forest management. To accomplish this study objectives, we analyzed compound interest method, willingness to pay (WTP) and price sensitivity measurement (PSM) when buying certified pulp. In case of compound interest method, we used prime cost by average price per ha of each area (Hongcheon, Inje, Shinnam) and unit price that add up the pulp price and investment costs. Interest rate reflects 2 to 6% and investment period apply to 5 years. WTP and PSM data were collected from questionnaire survey. As a result, if apply to interest rate of 2% and investment period of 3 years, result values are quite similar to WTP of 5% and optimal pricing point of PSM. That also showed similar pattern in each area.

• Food Science of Animal Resources
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• v.37 no.3
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• pp.469-476
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• 2017

This study analyzed consumers' preferences and price sensitivity to native chickens. A survey was conducted from Jan 6 to 17, 2014, and data were collected from consumers (n=500) living in Korea. Statistical analyses evaluated the consumption patterns of native chickens, preference marketing for native chicken breeds which will be newly developed, and price sensitivity measurement (PSM). Of the subjects who preferred broilers, 24.3% do not purchase native chickens because of the dryness and tough texture, while those who preferred native chickens liked their chewy texture (38.2%). Of the total subjects, 38.2% preferred fried native chickens (38.2%) for processed food, 38.4% preferred direct sales for native chicken distribution, 51.0% preferred native chickens to be slaughtered in specialty stores, and 32.4% wanted easy access to native chickens. Additionally, the price stress range (PSR) was 50 won and the point of marginal cheapness (PMC) and point of marginal expensiveness (PME) were 6,980 won and 12,300 won, respectively. Evaluation of the segmentation market revealed that consumers who prefer broiler to native chicken breeds were more sensitive to the chicken price. To accelerate the consumption of newly developed native chicken meat, it is necessary to develop a texture that each consumer needs, to increase the accessibility of native chickens, and to have diverse menus and recipes as well as reasonable pricing for native chickens.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.33 no.5
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• pp.1969-1980
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• 2013

The Traffic congestion is caused by the increasing traffic demand. Thus, economic losses have been increasing every year. To solve these problems, car sharing and rental car systems that are equipped with IT technologies emerge. Car sharing has many advantages-the alleviation of the traffic congestion, the saving of maintenance cost for cars, the reduction of car possessiveness, the solution for the hassle of car ownership, for business and personal duty, and the improvement of connectivity between public transportations-. The goal of the car sharing is to achieve low-carbon and eco-friendly transportation. In this study, we review papers related to the car sharing system and the cost system of traffic systems. We estimate the optimal cost of the cloud traffic system that is one of the car sharing services. We suggest a methodology to estimate operational cost and use cost through the analysis of cost system between similar traffic means. The range of the maximum and minimum cost was determined through the comparison and analysis of similar traffic means. Expected demand and the cost that people are willing to pay were estimated through optimized value pricing. The minimum cost per hour that was compared to the cost of rental car was estimated at 5,333 won and the maximum cost per hour that was compared to taxi cost was estimated at 17,700 won. The cost for users was estimated at 6,930 won. The cost of 50% demands was estimated at 6,550won. Future studies should analyze service hours of users, weather, demand pattern and trend and consider them into the cost estimation.

• Journal of the Korean Society of Food Science and Nutrition
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• v.42 no.3
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• pp.478-486
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• 2013

The purpose of this study was to analyze consumer consumption and product concept demands of Korean rice-wine. An online survey, conducted from April 28, 2010 to May 6 2010, targeted 200 consumers in Seoul and the Gyeonggi-do area. More than half of the respondents (51.3%) drank rice-wine because of the taste. The common reasons for dissatisfaction with rice-wine were hangovers (35.7%) and taste (16.9%). From analyzing rice-wine preferences, the most preferred ingredient was rice (57.8%), while the most preferred aroma and taste was derived from the fruit (48.7% and 58.4%, respectively). The most common methods consumers observed for promoting rice-wine consumption were the "development and management of rice-wine brands" (59.7%), and "continuous promotion" (44.8%). The most important attributes of a rice-wine product included its taste (4.60), followed by its quality (4.41) using 5-point Likert scale. An importance-performance analysis (IPA) was performed for the 17 attributes of rice-wine and identified targets for product management strategies, including the "usage of domestic ingredients", "ease of purchase", clarity of "product information", and "external image". Therefore, developing solid concepts in marketing strategy are required and may be achieved by understanding the consumer preferences and demands of rice-wine.