• Journal of the Korean Operations Research and Management Science Society
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• v.41 no.2
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• pp.1-16
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• 2016

Yield management, which originated from the U.S. service industry, uses pricing techniques and information systems to make demand management decisions. Demand uncertainty is an important factor in the area of demand management. A key strategy to reduce the effects of demand uncertainty is substitution. The most generally known type of substitution is inventory-driven substitution, in which consumers substitute an out-of-stock product by buying a similar or other type of product. Another type of substitution is the price-driven substitution, which occurs as a result of price changes. In this research, we consider two market segments that have unique perishable products. We develop yield management optimization models with stochastic demand based on the newsvendor model where inventory-driven and price-driven substitutions are allowed between products in the two market segments. The most significant contribution of this research is that it develops analytical procedures to determine optimal solutions and considers both types of substitution. We also provide detailed theoretical analysis and numerical examples.

• 한국지구물리탐사학회:학술대회논문집
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• 2003.11a
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• pp.669-675
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• 2003

This paper examines structural breaks and asymmetries of prices of four domestic petroleum products, i.e., gasoline, kerosene, diesel, and bunker-C, following the changes in the pricing policies pertaining to petroleum products in Korea from the government-controlled pricing system to the market pricing system. We use the monthly wholesale market price data for the sample period between July 1988 and December 2001. Using the four methods: the Chow test, the CUSUM/CUSUMQ tests, the Bayesian approach and the Dufour test, the structural behaviors of the petroleum product prices are examined. We found that structural change occurred in all petroleum products, with the exception of Kerosene, at the point of pricing policy change from government-controlled to the spot-price related pricing system. We, also conducted asymmetric analysis using the Borenstein, Cameron, and Gilbert (1997)'s model and found evidences of price asymmetry for all four product types, but in different pattern for each product.

• Journal of Korean Society of Rural Planning
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• v.10 no.3 s.24
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• pp.53-58
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• 2004

In this study the effect caused by limited storage lift of agricultural products for determining shipping amount can be analyzed by $l^{st}$ order autoregressive model based on cobweb theorem. Carrying capacity and auction price of upland-grown cabbage and garlic from 2000 to 2003 in wholesale markets were used for analysis. In result regression models of cabbage can not be used in verification periods although those of garlic approximately predicted shipping amounts in verification periods. It can be inferred that it is hard to control shipping amounts depending on price fluctuation for agricultural products which have limited storage life so cultivated areas and meteorological risk should be managed for stable price.

• East Asian Economic Review
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• v.16 no.3
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• pp.249-272
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• 2012

This paper examines how a Korean automobile firm price-discriminates between the Korean and the U.S. markets. We argue that a Korean automobile firm's pricing behavior depends on the differences in price elasticity over the segmented markets between the countries. Our findings are that differences in price elasticity may help explain why a medium-class car's price is higher in Korea than that in the U.S. while a small-sized car's price is higher in the U.S. than in Korea, which implies that a Korean automobile firm $3^{rd}$ degree price-discriminates on the same or similar products between Korea and the U.S. This type of $3^{rd}$ degree price discrimination differs from a typical home-bias effect (charging higher prices to domestic consumers) because a small-sized car which is produced domestically sells at higher price abroad. This finding can be added as a source that violates the law of one price.

• Korean Journal of Organic Agriculture
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• v.13 no.3
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• pp.229-242
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• 2005

This study was examined to analyze of the characteristics analysis of purchasing behavior for environment-friendly agri-products on consumers in Gwangju. The 310 subjects formatted questionnaires were analyzed to frequency, percentage, crosstabulation, chi-square test and logistic regression by SPSS WIN 10.0. The main results of this study were as followings (1) It was analyzed that consumers have had the reason to purchase, purchase places, purchase number of times, purchase background, optimum price and purchase item for environment-friendly agri-products. (2) It was tended that consumer showed degree of satisfaction, point to improve and purchase intention continuously for environment-friendly agri-products. (3) It was proved that age, income, medium contact level, cognitive level, valuation basis, producer and the direct deal, the consumer organization's co-op, large-sized discount hoarded goods for purchase places and price reduction for promotion of purchase for environment-friendly agri-products was of the characteristics analysis.

• Journal of Dairy Science and Biotechnology
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• v.35 no.3
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• pp.184-195
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• 2017

This study was carried out to investigate the micro-agribusiness realities of dairy farms by surveying both farmers' opinions and consumers' recognition of dairy farm products for in a value-chain analysis. In most cases, dairy farms produced fermented milk for sales and to prepare cheese both for sales and for providing the necessary material for farm visitors. Value-chain analysis did not seem to be a viable strategy for dairy farmers, except when assessing the quality of farmstead milk products in comparisons of dairy farm milks and commercial milk products. Consumers had a wide range of experience with milk products and had no willingness to buy products from dairy farms because of the high cost and the lack of product diversity. Our findings established three strategies for improving the economic feasibility of dairy farms. First, the price should be reduced by adopting a production balance to establish a farm-gate price, i.e., not as quota milk but as surplus milk. Second, consumers should be educated on the prescription of cheese at home. Third, a value-chain based on cooperative partnerships should be established among dairy farms. In addition, to improve the consumers' satisfaction on the diversity and quality of farm dairy products, developments of new value-added milk products made from the milk of cows allowed to graze on mountain pastures are needed.

• Journal of the Korean Society of Clothing and Textiles
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• v.32 no.8
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• pp.1274-1285
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• 2008

The purpose of this study is to investigate influences of perceived price dimensions and store attributes on store choice behavior. Three major retail formats, department store, discount store, and internet shopping mall in retail industry were compared with respect to store attributes and intention to purchase fashion products. Data were obtained from 427 consumers aged 25-49 years old. The results were as follows. (1) Multidimensional aspects of the price construct were identified: price-quality schema, prestige sensitivity, price mavenism, value consciousness, price consciousness, and sales proneness. (2) Store attributes included product assortment, quality per price (Q/P), service, and symbolic image in general. However, store attribute factors of three retail formats consisted of slightly different items. Department stores presented the highest level of mean scores on product quality, customer service, and symbolic images, while internet mall exhibited highest on product variety, information comparison, and quality per price. (3) Respondents presented high level of intention to purchase fashion products at internet mall, department store, and discount store in that order. (4) Purchase intention at department store was predicted by Q/P, service, symbolic image, prestige sensitivity, product assortment, clothing consumption, and age in order. Purchase intention at discount store was influenced by assortment & Q/P, symbolic image, clothing consumption, and sales proneness, whereas internet mall was predicted by product assortment, Q/P, service, price mavenism, and price-quality schema.

• Journal of Global Scholars of Marketing Science
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• v.18 no.1
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• pp.157-177
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• 2008

Sportswear, including sports shoes, becomes a common and popular category because it gives young people a more relax lifestyle and greater versatility and comfort. It is believed that consumers prefer products of developed countries to products of developing or underdeveloped countries. This study tries to compare consumer behaviors for sports shoes in China and Korea. Our research model analyzed relationships among country-of-origin, perceived quality, perceived price, brand image and purchase intention for sports shoes in Korea and China. The country-of-origin was not found to play a significant role in Korea. But it was found to positively influence perceived quality in China. Brand image was found to play an important role in influencing perceived quality and perceived price in Korea and China. Perceived quality was found to influence positively purchase intention in both countries. Perceived price was found to negatively influence purchase intention in China. Implications drawn from this study were discussed.

• Environmental and Resource Economics Review
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• v.22 no.2
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• pp.251-279
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• 2013

Prices of oil products such as gasoline and diesel are deregulated since 1997 while electricity price is still controlled by government. This difference may explain recent discrepancy in the patterns of demand for oil products and electricity - constant increase in electricity consumption and stagnant demand for oil. To verify it empirically, we estimate price and income (production) elasticity of demand across time by using a rolling regression with 10 year-window based on monthly data for 1981-2011. Estimation results show that the sensitivity to price in demand for gasoline and diesel has increased since mid-90s while the elasticity of demand for electricity has become smaller. Second, income (production) elasticities of demand have shown no significant changes for both oil products and electricity. Third, cross-price elasticity was found meaningful only for gasoline before mid 1990s and for diesel after then.

• The Journal of the Korea Contents Association
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• v.14 no.10
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• pp.279-286
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• 2014

In this study, the local government proposes to improve agricultural products of the mall. Based on precedent studies, the variables that influence Customer Satisfaction are defined as; Product Quality, Delivery, Price. The result of study model verification is as below. Product Quality, Delivery and Price have positive influence on Customer Satisfaction. Price and Customer Satisfaction have positive influence on Repurchasing intention. Agricultural products through e-commerce transactions is increasing. But, the decreasing sales of professional Mall. Agricultural products have a variety of distribution channels. Because of the distribution system in a variety of price differences. People think that the most important factor is the price. Improvement is as follows. (1) To offer accurate product information, (2) Continuous content maintenance, (3) Conducted a variety of events, (4) To provide consumers with various benefits, (5) Offer a variety of product configurations, (6) Select the appropriate sales methods, (7) Provide ease of search.