• Title/Summary/Keyword: Product Selection Strategy

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An Empirical Study on Supplier Selection based on Analytic Hierarchy Process (공급업체 선정에 대한 의사결정에 관한 연구)

  • Lee, Uk-Gi;Kim, Ju-Wan
    • 한국디지털정책학회:학술대회논문집
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    • 2005.11a
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    • pp.367-381
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    • 2005
  • On the situation cooperating with business partners on the supply chain, systematic decision making process is a critical issue for them. The two major issues of purchasing strategy such as selecting vendors and managing them are important part of their overall business activities. This study mainly focus on the former issue of the vendor selection. Through the empirical study, analytical hierarchy process (AHP) method was applied to select vendors among supplier vendors based on four selection criteria such as the level of quality, product on management ability, delivery, and price. The results of study showed the main criteria of vender selection was the ability of quality management. The vender selected based on AHP and the current selection method was different, but implicitly projected the dilemma situation between quality and price which occurs in decision making process of real life.

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Feasibility Evaluation of High-Tech New Product Development Projects Using Support Vector Machines

  • Shin, Teak-Soo;Noh, Jeon-Pyo
    • Proceedings of the Korea Inteligent Information System Society Conference
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    • 2005.11a
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    • pp.241-250
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    • 2005
  • New product development (NPD) is defined as the transformation of a market opportunity and a set of assumptions about product technology into a product available for sale. Managers charged with project selection decisions in the NPD process, such as go/no-go choices and specific resource allocation decisions, are faced with a complicated problem. Therefore, the ability to develop new successful products has identifies as a major determinant in sustaining a firm's competitive advantage. The purpose of this study is to develop a new evaluation model for NPD project selection in the high -tech industry using support vector machines (SYM). The evaluation model is developed through two phases. In the first phase, binary (go/no-go) classification prediction model, i.e. SVM for high-tech NPD project selection is developed. In the second phase. using the predicted output value of SVM, feasibility grade is calculated for the final NPD project decision making. In this study, the feasibility grades are also divided as three level grades. We assume that the frequency of NPD project cases is symmetrically determined according to the feasibility grades and misclassification errors are partially minimized by the multiple grades. However, the horizon of grade level can be changed by firms' NPD strategy. Our proposed feasibility grade method is more reasonable in NPD decision problems by considering particularly risk factor of NPD in viewpoints of future NPD success probability. In our empirical study using Korean NPD cases, the SVM significantly outperformed ANN and logistic regression as benchmark models in hit ratio. And the feasibility grades generated from the predicted output value of SVM showed that they can offer a useful guideline for NPD project selection.

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Effects of Consumer's Individual Value on Product Selection Attribute and Re-purchase Intention : Focused on Consumers Who Had Purchased Kimchi

  • KIM, Hey-Sook;SHIN, Choung-Seob;CHOI, Young-Sim
    • East Asian Journal of Business Economics (EAJBE)
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    • v.8 no.4
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    • pp.1-18
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    • 2020
  • Purpose - The current study attempts to reveal the causal relationship and identify the interrelationships among individual value, product selection attribute, and re-purchase intention of consumers when purchasing kimchi. Research design, data, and methodology - The surveys were distributed and retrieved to kimchi consumers in Seoul and Gyeonggi Province who were over 20 years old and who had purchased kimchi before. The current study utilized the self-reporting survey as the research method. Result - First, as a result of hypothesis 1 test, both internal value and external value had a significant effect. Second, as a result of hypothesis 2 test, while internal value had a significant effect, external value did not have a significant effect. Third, as a result of hypothesis 3 test, while internal value had a significant effect, external value did not have a significant effect. Fourth, as a result of hypothesis 4 test, all quality, brand, and price had a significant effect. Fifth, as a result of hypothesis 5 test, while internal value had a significant effect, external value did not have a significant effect. Conclusion - The current study aims to establish marketing and service strategies to maximize profits and secure competitive advantage in the kimchi industry through changes in the management strategy of the Korean kimchi industry.

A study on standard implementation method of defense CALS system (국방 CALS체계의 표준 적용방안에 관한 연구)

  • 김철환;송인출
    • Proceedings of the CALSEC Conference
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    • 1999.11a
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    • pp.75-84
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    • 1999
  • CALS is a strategy to share integrated product data through a set of standards to achieve efficiencies in business and operational mission areas. In this research, we first studied current status for CALS standard and then analyzed the case of US DoD. The results can be summarized as implementing for two major standard in defense CALS system. They are STEP and XML. Our recommendations can be used to set direction for CALS standard implementation and standard selection process.

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The Effect of Counterfactual Thinking on Post-purchase Behavior of Retail Management

  • Kim, Young-Ei;Yang, Hoe-Chang
    • Journal of Distribution Science
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    • v.16 no.2
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    • pp.25-33
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    • 2018
  • Purpose - This study focused on the effect of counter-factual thinking on post-purchase behavior producing consumer regret at HMR selection and purchase. We have analyzed the factors that HMR production and distribution businesses should consider because distribution and marketing strategy reflecting consumers' demand. Research design, data, and methodology - For the purpose of carrying out this research, we conducted a direst structured questionnaire to students at 'J' college. A total of 237 valid questionnaires were collected for students and their parents at 'J' university. For the hypothesis test, exploratory factor analysis, t-test, regression and structure equation path analysis were performed. Results - The consumers who often resented HMR purchase did counter-factual thinking on post-purchase behavior were likely to do switching purchases. Counter-factual thinking on post-purchase behavior had a negative influence upon consumer's satisfaction with HMR safety and marketing characteristics. Conclusions - Consumers who had been satisfied to a certain degree might have cognitive dissonance of minor mistakes of HMR product were likely to have downward counter-factual thinking through contrast effects. Therefore, HMR producer and distribution businesses that had production, distribution and marketing strategy to satisfy consumers by raw material, freshness and safety were likely to switch to another product at one time mistake of selection, purchase and use.

A Study on the Strategic Selection of Competitive Priorities and Business Performance through Product Innovation in the Korean Manufacturing Industry (제품혁신을 통한 경쟁우선순위의 전략적 선택과 성과에 관한 연구)

  • Kim, Do-Hoon;Choi, Jong-Yeol
    • Journal of Korea Technology Innovation Society
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    • v.14 no.1
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    • pp.139-156
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    • 2011
  • This study is aimed to analyze the effectiveness of competitive priorities by product innovation and estimate the relationship between competitive priorities and business performances in the Korean manufacturing industry. It is expected that results of the study would provide useful managerial implications to the selection of effective competitive priorities of the manufacturing firms. Analytical results showed that the product innovation would enhance the effectiveness of competitive priorities. In addition, elements of competitive priorities that significantly affect to business performances were shown to be different by sectoral type in the manufacturing industry.

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Cross-channel consumption behavior of clothing product - A cross-category analysis - (의류제품 크로스채널 소비행동 - 타제품군과의 비교 -)

  • Hong, Woo Jung;Lee, Kyu-Hye
    • The Research Journal of the Costume Culture
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    • v.27 no.2
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    • pp.98-108
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    • 2019
  • With the expansion of various distribution channels in online and offline stores, TV, and mobile, consumers now have more information search and retail selection channels to choose from than ever before. Major retailers now use multi- and omni-channel strategies. This study focused on cross-channel consumption, which involves the use of different information search and purchase channels. Using cross-channel consumption, consumers can search for information online and then make purchases offline and vice versa. The purpose of this study was to examine the relationship between channel strategies and other consumer variables, and the study also assessed the effect of product type. To conduct this empirical study, the researchers developed a consumer questionnaire concerning three consumer channel strategies-on-on, cross, and off-off-and four product categories-clothing, cosmetics, books, and electronics. The results indicated that gender and marital status did not influence consumer channel strategies, but that age did have a significant influence. The analysis showed that consumers in their 40s preferred the cross channel strategy, perceiving it to be effective, satisfactory, and rewarding. Compared to other products, clothing products showed higher levels of cross channel strategies. Consumers indicated that they prefer searching for information online and then purchasing clothing offline. Overall, clothing products generated higher levels of channel satisfaction and channel switch intentions. Cross-channel clothing shoppers reported effective information retrieval times but longer delivery times.

Deep Neural Network Models to Recommend Product Repurchase at the Right Time : A Case Study for Grocery Stores

  • Song, Hee Seok
    • Journal of Information Technology Applications and Management
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    • v.25 no.2
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    • pp.73-90
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    • 2018
  • Despite of increasing studies for product recommendation, the recommendation of product repurchase timing has not yet been studied actively. This study aims to propose deep neural network models usingsimple purchase history data to predict the repurchase timing of each customer and compare performances of the models from the perspective of prediction quality, including expected ROI of promotion, variability of precision and recall, and diversity of target selection for promotion. As an experiment result, a recurrent neural network (RNN) model showed higher promotion ROI and the smaller variability compared to MLP and other models. The proposed model can be used to develop a CRM system that can offer SMS or app-based promotionsto the customer at the right time. This model can also be used to increase sales for product repurchase businesses by balancing the level of ordersas well as inducing repurchases by customers.

Analysis of Factors Influencing on Food Supplier Selection Criteria in the Health-care Foodservice Operations (의료기관의 식자재 공급자 선정기준에 영향을 미치는 요인 분석)

  • Kim, Jeong-Ri;Choe, Seong-Gyeong;Gwak, Dong-Gyeong
    • Journal of the Korean Dietetic Association
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    • v.8 no.4
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    • pp.372-386
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    • 2002
  • The purposes of this study were to find factor which influence on the selection criteria of food supplier. Questionnaire were distributed to 52 general hospitals with more than 400 beds located in Seoul and Kyongin province, and responded questionnaires were collected from 44 dietetic departments (84.6%) and 18 purchasing departments (34.6%). The main results of this study can be summarized as follows: (1) supplier selection criteria include quality, service, cost and supplier competency. (2) With having been met with tight competition and market opening, hospitals plan a strategy to improve quality, service and they tend to have more interest in various supplier selection criteria. (3) Purchasing departments estimate more highly the rate of reflection in considering supplier selection criteria than the rate of importance about cost criteria, which reveals that purchasing departments sensitively respond to cost cutdown. (4) When selecting suppliers, a significant(p<.01) influence of stability of supplier industry environment on the selecting criteria such as the importances of quality, service, and supplier quality are recognized only after recognizing the stability of food delivery industry. Food supplier industry secures stability more quickly through major companies' participation in food distribution industry and this will reveal the importance of supplier selection criteria. (5) Suppliers which are selected by the quality criteria, service criteria, supplier quality criteria make efforts to communicate with foodservice departments, to give more proper information about substitute food, new product, and to make commitments, while suppliers which are decided by cost criteria do not establish supportive relationships with foodservice departments.

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Market Segmentation and Marketing Strategy According to Apparel Retail Store Selection Criteria of Consumer (소비자의 의류상점선택기준에 따른 시장세분화와 마케팅전략)

  • Lee Sun Jae;Jang Eun Yong
    • Journal of the Korean Society of Clothing and Textiles
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    • v.16 no.4 s.44
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    • pp.471-484
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    • 1992
  • The purpose of this study was 1) to find out Market segmentation possibilities according to consumer's store selection factors by analysis of Consumer's attitude and oriteria of apparel store selection, 2) to provide marketing strategies of segment marker for apparel stores Research problems were as follows. 1) To find out the important factors of consumer's store selection and to segment markets according to their factors. 2) To find out consumer characteristics (demographic variables, clothing life factors, cloth-ing purchase behaviors) according to segment markets. 3) To find out preference store types and preference factors according to segment markets. 4) To provide marketing mix strategy for retail apparel store sales. The subjects selected for the final analysis were 586 female college students, housewives, and workers living in Seoul. A questionnaire was developed in order to measure consumer's selection criteria of apparel store, consumer characteristics and preferred store types and preferential factors. The results of this study were as follows: 1. There were 8 factors of consumer's store selection such that: the high quality, convenience, store atmosphere, economy, dependency commercials, store patronage, the conformity, product assortment. the result of cluster analysis based on these 8 factors of store selection verified that market was able to be segmented as four different market, which were the store loyalty group, the aligned economical group, the assortment pursuing group, the store fame dependent group. 2. There were significant differences among four groups, for 4 variables related to consumer's characteristics such as demographic characteristics (sex, age, job, level of education, the living quarters, marrige or unmarrige), clothing life factors, clothing evaluating criteria, and favorite fashion information sources. 3. There were significant differences among four groups for 2 variable related to store preference such as preference types of store and preference factors of store.

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