• The Journal of the Korean life insurance medical association
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• v.24
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• pp.97-117
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• 2005

Internally Korean insurance market is that whole life products' growth are becoming slowdown that's why new insurance products have appeared on the market in consideration of consumer's needs recently. Externally domestic insurance market competitions has drifted from insurance industry to whole financial industry since bankasurance started. Life insurance companies should open up a new market to survive from severe competitions. Worksite marketing can be an alternative. An insurer make arrangements with an employer about an insurance terms which an insurer offers in Worksite marketing. Then eligible individuals enroll in the plans at their own discretion and pay 100 percent of the premium for coverage through payroll deductions. An employer doesn't need to pay extra money for additional benefit but can raise employee's loyalty and satisfaction of company through worksite marketing. An employee can be covered at discounted premium rate and less strict underwriting guidelines to an insurer compared to individual insurance. In developed countries specially U.S insurance market, Worksite marketing is getting very popular and growing rapidly due to the advantages. Worksite marketing has both individual insurance characters and group insurance characters. Individual insurance characters are that employees enroll in the plans at their own discretion and pay 100 percent of the premium for coverage. Group insurance characters are that actively at work and participation etc. An insurer have to reflect these two characters on Worksite marketing when an insurance company work out a plan for developing products and underwriting guidelines. When an insurer devise worksite products, one should consider participation level which means percentage of eligible employees participating. Participation is related to anti-selection. As we know underwriting is essential for every kind of insurance, especially underwriting plays major role in worksite marketing. We can see that in the below. Firstly, it has a function in calculation of premium rate. When calculate premium rate for worksite products underwriters have to estimate expected participation level and risk factors. So underwriters and acturies keep in close contact with each other. Secondly, underwriting methods are important. When an insurer underwrite worksite products, there are three kinds of underwriting methods. These are Simplified issue underwriting, Full underwriting and Guaranteed issue underwriting. Simplified issue underwriting typically requires no medical examination, but usually requires supplying satisfactory answers to one or several health and/or lifestyle questions. Full underwriting requires a complete medical history questionnaire that may further require an exam. Guaranteed issue underwriting means that coverage is issued without the employee having to provide evidence of insurability. When insurer set the GI limit are usually based on the type of industry, number of eligible employees, the average amount of coverage and participation level. In addition to insurer should have a clear definition of eligible employee on the insurance provision and application form. It will minimize possibility of trouble claims and anti-selection. An insurer also establish preexisting condition exclusion and special guidelines for late entrants. When an insurer introduce Worksite marketing to Korean insurance market, an insurer has to examine market research to analyze potential market and strategy of sales most of all. Also an insurer should review real situation of the U.S, England and Japanese market etc. There are a lot of new technologies about worksite marketing process that an insurer should learn. When an insurer consider many things which we explained it can be a real alternative.

• Journal of Digital Convergence
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• v.15 no.6
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• pp.121-132
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• 2017

In this study, there is a purpose of research to secure competitiveness through the effective utilization of intangible corporate resources of founded enterprises. For this research, we conducted a survey on the way the customers who used the products of the BI center and founders less than 7 years evaluated the founded company. Schmitt's empirical element was examined as a theoretical background, and it was examined whether these empirical factors and attitudes acted as a preprocess in the decision-making process as a repurchase intention. The Result of research is as follows. First, It clearly indicated that customer experience and search experience affected the degree of re-purchase. Second, customer's experience (use experience, search experience, contact experience) were grasped with significant influence on customer's attitude. Third, we discovered that customer's attitude had mediated between customer's experience (use experience, search experience) and re-purchase. This research suggests that if we manage empirical factors well, we can increase the degree of re-purchase and cope appropriately with the limitations of small and medium enterprises.

• Journal of Digital Convergence
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• v.12 no.2
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• pp.151-162
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• 2014

One of the largest changes in retail business in Korea since the distribution market was opened in the mid 1990s is the appearance of foreign discount stores and the rapid growth of department stores. Discount stores and department stores have changed the structure of distribution business which has been primarily made up of traditional markets and supermarkets that have been the main retail markets in Korea. The retail business is changing from just a product purchasing place to a space where various values such as pleasure, happiness, etc. are provided. Therefore the purpose of this research is to grasp the effects that the shopping experience values at department stores have on the department brands, images, and awareness by means of theoretical and empirical research. Especially I classified the shopping experience values, an independent variable, into aesthetics, pleasures, consumers' interests, and services' excellence, and I verified whether they have a meaningful effects on the brand recognition and image, an endogenous variable, and the store royalty, a final various. A total of 235 questionnaires were used for analysis to test the research hypotheses. The positive analysis was done with SPSS 17.0K and AMOS 17.0 covariance structure analysis was performed. As a result, variables of the shopping experience values except consumers' interests seemed to have not only right influences on recognition and image, but also right influences on store royalty. Therefore this research shows that department store customers not only make use of department stores to buy products, but also visit department stores to get the values of pleasure and happiness, and that these aspects have a greater influence on the department store's image, recognition, or royalty in a sense.

• Journal of Distribution Science
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• v.14 no.7
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• pp.83-90
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• 2016

Purpose - This study focuses on new type distribution channel that named as Omnichannel. Omnichannel is developed from Multichannel which is used in many distribution channels to buy or selling goods. Omnichannel basically needs an Information and Communications Technologies(ICT) to use, so researcher conduct a Technology Acceptance Model(TAM) to research model. Customer-brand relationship was used as dependent variable to focus on the role of Omnichannel. Research design, data, and methodology - The subject of this study is customer who purchase goods or service through omnichannel. Based on the literature from the preceding research analysis of TAM and customer-brand relationship, this study was constructed by the reference to previous studies, final research model design for figure out casual relationship among perceived ease of use, perceived usefulness, omnichannel use and customer-brand relationship. From 2016 February 3 to March 17, questionnaire survey targeted customers who use online and offline channels. 273 questionnaire survey had conducted, then, 252 survey data were available for empirical analysis. Researcher provide descriptive statistics for checking generality. Cronbach's alpha value was used to check the reliability of data. Exploratory factor analysis was used for purification of values and eigenvalue checking. After EFA, Confirmatory factor analysis was used to prepare structural equation modeling with executing structural equation modeling for confirming hypothesis which developed by researcher. Results - The main results of this empirical study are as follows. First, omnichannel's perceived ease of use has positive significant effect on perceived usefulness(estimate: 0.579). Moreover, omnichannel's perceived ease of use and perceived usefulness has positive significant effect on omnichannel use(estimate: 0.325,0.648). Second, using omnichannel has positive significant effect on brand-customer relationship(estimate: 0.521). Every hypothesis adopted as researcher designed. This study found out the intermediate relationship between perceived ease of use and omnichannel use by investigating hypothesis. Conclusions - Base on the empirical result, this study confirmed that TAM theory perceived has relation with omnichannel. First, factors of TAM has positive effect on omnichannel use, so it highlights the important role of customer based interface and usefulness. Especially, perceived usefulness has high indirect influence on ease of use and use of omnichannel. It seems that when customers try to decide use or not use omnichannel, customers focus on percept benefits from omnichannel. Thus, a provider should applicate attractive price table, accurate product or service information and high switching cost strategy to emphasize the usefulness of omnichannel. Second, using omnichannel enhances the relationship between customers and brand, because there are more time and frequency to serve customers. It is important because good relationship between customers can increase the future's financial performance through word of mouse, positive brand image and loyalty to brand or company. Finally, despite of empirical result and implications, this study has limitations. First, there are only a few previous studies about omnicahnnel, so literature reviews are restricted. While set up the factors which can affect the use of omnichannel, next study should be considered with broader theories or models(ex: contingency theory). Second, omnichannel has developed from multichannel, so comparative analysis is needed between these methods because there is a possibility about different forte character of each distribution system on customer's consuming patterns.

• Journal of Distribution Science
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• v.13 no.5
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• pp.53-60
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• 2015

Purpose - The purpose of this paper is to shed light on the importance of the slope and curvature of the volatility curve implied in option prices in the KOSPI 200 options index. A number of studies examine the implied volatility curve, however, these usually focus on cross-sectional characteristics such as the volatility smile. Contrary to previous studies, we focus on time-series characteristics; we investigate correlation dynamics among slope, curvature, and level of the implied volatility curve to capture market information embodied therein. Our study may provide useful implications for investors to utilize current market expectations in managing portfolios dynamically and efficiently. Research design, data, and methodology - For our empirical purpose, we gathered daily KOSPI200 index option prices executed at 2:50 pm in the Korean Exchange distribution market during the period of January 2, 2004 and January 31, 2012. In order to measure slope and curvature of the volatility curve, we use approximated delta distance; the slope is defined as the difference of implied volatilities between 15 delta call options and 15 delta put options; the curvature is defined as the difference between out-of-the-money (OTM) options and at-the-money (ATM) options. We use generalized method of moments (GMM) and the seemingly unrelated regression (SUR) method to verify correlations among level, slope, and curvature of the implied volatility curve with statistical support. Results - We find that slope as well as curvature is positively correlated with volatility level, implying that put option prices increase in a downward market. Further, we find that curvature and slope are positively correlated; however, the relation is weakened at deep moneyness. The results lead us to examine whether slope decreases monotonically as the delta increases, and it is verified with statistical significance that the deeper the moneyness, the lower the slope. It enables us to infer that when volatility surges above a certain level due to any tail risk, investors would rather take long positions in OTM call options, expecting market recovery in the near future. Conclusions - Our results are the evidence of the investor's increasing hedging demand for put options when downside market risks are expected. Adding to this, the slope and curvature of the volatility curve may provide important information regarding the timing of market recovery from a nosedive. For financial product distributors, using the dynamic relation among the three key indicators of the implied volatility curve might be helpful in enhancing profit and gaining trust and loyalty. However, it should be noted that our implications are limited since we do not provide rigorous evidence for the predictability power of volatility curves. Meaning, we need to verify whether the slope and curvature of the volatility curve have statistical significance in predicting the market trough. As one of the verifications, for instance, the performance of trading strategy based on information of slope and curvature could be tested. We reserve this for the future research.

• Journal of Service Research and Studies
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• v.7 no.4
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• pp.15-38
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• 2017

The purpose of this study is to look into the consumers who show the consumption patterns of brand switching and repeated purchasing, find the decision factors of their brand switching and repeated purchasing, analyze the difference in marketing response variables being represented as corporate promotion activities in the brand switching and repeated purchasing process, and provide a suggestion to apply the result to marketing Therefore, it tries to help the firms, which develop push marketing as the result of excessive competition between distributors and sales competition focusing on external appearance, recognize consumers as individual substances; to propose proper efficient promotion activities; to let consumers increase loyalty to their trademark and continue to purchase their products repeatedly; and to induce competitor brand consumers to do brand switching. The results of this study are presented as follows: First, consumers who prefer events, price discount, samples, and product premium which means the products with brand or logo on them had the feature of repeated purchasing. Secondly, service benefit, point-type promotion, cost-saving satisfaction didn't affect brand switching, and only the consumers who prefer coupon-type promotion did brand switching. Thirdly, a distribution type produced the moderating effect between the repeated purchasing and coupon and coupon-type promotion, and between brand switching and service benefit.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.11 no.7
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• pp.2483-2490
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• 2010

The purpose of this study is to offer information on the more effective sports wear to club members, who are participating in badminton, by closely examining influence in lifestyle of participants in badminton upon the sportswear benefit sought. The subjects of this study were selected male and female adults, who are joining now by subscribing to badminton club in Gangwondo Province, as the population. It sampled totally 206 people by convenience sampling, and carried out frequency analysis, reliability & factor analysis, and multiple regression analysis by using SPSS/PC+ 11.0 Version. The conclusions of this study are as follows. First, it was indicated that there is correlation between lifestyle and sportswear benefit sought of participants in badminton. Second, it was indicated to have influence upon the ideal benefit sought, which is the sportswear benefit sought, in order of the fashion sought bandwagon and the social orientation, which are sub-factors of lifestyle. Third, it was indicated to have influence upon the fashion & brand benefit sought, which is the sportswear benefit sought, in order of the material sought, the fashion sought bandwagon, and the satisfaction with reality, which are sub-factors of lifestyle. Fourth, it was indicated to have influence upon the convenience benefit sought, which is the sportswear benefit sought, in order of the self-loyalty, the social orientation, the health sought, and the satisfaction with reality, which are sub-factors of lifestyle. Fifth, lifestyle was indicated to have influence upon the youth & individuality benefit sought in order of the fashion sought bandwagon, the material sought, and the social orientation. The sportswear product in the better quality will be able to be expected for sports activity, by which the subjects of participating in sports activity correctly grasp the sportswear benefit sought, based on these results.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.10
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• pp.548-553
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• 2016

This study analyzed the effect of the operation system of human resource management. First, the primary operating direction of the goal, talent selection system, and personnel management personnel management affected almost all the performance variables. More than one primary goal of personnel management in the loyalty inspired workers more than the fixed labor costs, and external recruitment of short-term hiring favored internal training scheme for long-term employment, employee training, and development in the long term more than short-term performance improvement the more weight to quality and innovation in the productivity of labor, product and services, employee-driven innovation, reduce turnover, had a positive impact on labor relations. On the other hand, the primary goal of personnel management and personnel selection methods had a positive impact on financial performance. Personnel management operating direction did not significantly affect the financial results. Second, the main type of employee utilization affected the quality of products and services, and labor relations. Trying to take advantage of temporary workers more than regular workers had a positive impact on the quality of products and services, and labor relations. Third, the operating unit of Personnel Management had an impact on the degree of innovation of products and services. Both personal achievements and the performance of the operating units had a positive impact on the degree of innovation of products and services, more than teamwork and personnel management. This study provided practical implications for verifying the effect of detailed characteristics of human resource management on financial/non-financial business performance.

• Journal of Distribution Research
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• v.15 no.4
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• pp.21-60
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• 2010

In recent retail environments, multichannel customer management increasingly has been considered a key element of successful CRM. Although customer's multichannel usage is believed to be potential cause of customer loyalty, the theoretical explanation about this causal relationship still remains unexamined and unanswered. In this paper, the authors present a systematic framework to test the postulated "multichannel usage-shopping experience-customer satisfaction" chain. To this end, we examine that the two core components of shopping experience(convenience and enjoyment) is a mediator of the direct causality of multichannel usage(based on both information search and product purchase stage) on customer satisfaction. Moreover, the authors examine that two types of customer-firm relationship characteristics(relationship age and purchase frequency) is a moderator of the multichannel usage-shopping experience relationship. Using integrating data with survey and customer database of multichannel retail company, the authors empirically test and substantiate shopping experience's mediating role in the multichannel usage-customer satisfaction relationship and customer-firm relationship characteristics' moderating role in the multichannel usage-customer experience relationship. These results suggest that multichannel retailers should deliver favorable shopping experience for building customer satisfaction and differentiate shopping experience according to customer-firm relationship characteristics.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.3
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• pp.69-79
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• 2024

Companies should resolve consumer dissatisfaction and increase brand loyalty by actively identifying the factors of consumer dissatisfaction and proactively responding to expected complaint behavior to induce repurchase. This is a management goal that should be pursued in common regardless of the size of the company. The specific purpose of this study is to find out whether the degree of dissatisfaction differs depending on whether or not consumers' expected performance before purchase and the actual perceived performance after purchase is compared, whether the degree of dissatisfaction affects the type of complaint behavior, which is a subsequent behavior, and whether the attributable behavior has a moderating effect in this process and whether the persistence of the result and the controllability of the cause act as a factor that determines the attribution position. In particular, compared to general companies, venture companies are more likely to overload the information processing ability of managers and are likely to make various irrational errors in decision making, so this study has important academic and practical implications. As a result of the analysis, the negative inconsistency group had the highest degree of dissatisfaction, and the higher the degree of inconsistency, the higher the dissatisfaction. The attributable behavior of unsatisfied consumers had a moderating effect on the degree of dissatisfaction, and the dissatisfaction was significantly higher in the external attributable group than the internal attributable group, which was statistically significant. On the other hand, the persistence of the result had a statistically significant effect on the attribution position, but the controllability of the cause was not. The degree of attributable behavior and dissatisfaction did not affect the type of complaining behavior, showing limited influence. Along with the interpretation of these results, this study presents various implications, especially for small and medium-sized/venture companies that provide new durable products.