• Journal of Distribution Science
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• v.16 no.5
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• pp.91-101
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• 2018

Purpose - This study compares the management efficiency of retailers in China, Korea and other global countries. China's retail industry is experiencing a recession. In order to strengthen the competitiveness of retailers, it is necessary to manage the efficiency. Therefore, we analyzed the management efficiency of Chinese retailers as well as Korea and global retailers who are competing with Chinese retailers. Research design, data, and methodology - The DEA(Data Envelopment Analysis) carried out for evaluating the relative efficiency of multiple DMUs (decision making units) with homogeneity. Data were collected from the American Retail Trade Association (2017). In those distributors' data, 5 of China and 5 of Korea and 10 of other global countries' analyzed. CCR and BCC analysis were performed to determine the cause of the inefficiency of DMUs by measuring the technical efficiency, pure technology efficiency and scale efficiency. Result - Among the 20 retail distributors, Costco, Kroger (Global), Eland World, BGF(Korea) are operating efficiently. Chinese retailers are operating inefficiently. Retailers' CRS status means the growth rate of input is equal to the growth rate of output. In the case of DRS status, the ratio of output to input variable is much smaller. In order to improve inefficiency, reducing input variables can be a solution. For the firms in IRS status, the rate of increase in output is relative greater than the input. That means efficiency is good condition. The analysis result shows that most retailers are showing DRS status especially Chinese retailers. Scale efficiency is a major cause of inefficiency rather than pure technology efficiency. It is recommended for ineffective retailers to reduce inputs to become efficient retailers. Otherwise, retrain existing employees or introducing advanced technologies to increase the output. Conclusions - Most of Chinese retailers are operating inefficiently which caused by the excessive investment in the inputs. On the other hand, Other global retailers are analyzed to be efficient by DEA. In this study, benchmarking targets of some retailers' suggested to improve the management efficiency especially in inputs.

• Journal of Global Scholars of Marketing Science
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• v.17 no.4
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• pp.223-245
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• 2007

Purpose: While empirical importance of dimensionality of perceived value is widely accepted, our understanding of experiential value dimensions in other retail channels and other cultures has not been explicitly tested. This study attempted to determine if the dimensions of experiential value scale (EVS) by Mathwick, Malhotra, and Rigdon (2001) identified in US catalog and Internet contexts could be applied in other international markets (South Korea) and in other retail channels (department store versus Internet shopping mall). Methodology/Approach: Two data sets, one from 220 department store shoppers and the other from 359 Internet shopping mall shoppers, were analyzed. Findings: Confirmatory factor analysis confirmed four different EVS dimensions by retail channels. Overall, entertainment and intrinsic enjoyment values were found to be more important in department store while economic and efficiency value dimensions were interpreted critical in Internet shopping mall context. Visual appeal aspect constitutes distinct value dimension in two channels. Practical Implications: One separate dimension of time efficiency in Internet shopping mall suggests that more efficient web design and functions that can save time and promote convenience are needed to better accommodate their customers. Internet has heavily relied on traditional attributes, such as factual information, price comparability, and brand name reliance. However, this study suggests that Internet shopping mall retailer should offer visual diversion and stimulation just as brick and mortar shopping malls do. Originality /Value of Paper: Although the research findings must be viewed as tentative because the results are from one country, they provide a rich basis for further understanding the dimensions of experiential value in other international markets and other retail channels. Category: Research Paper

• Asia Marketing Journal
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• v.15 no.1
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• pp.23-42
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• 2013

To overcome the profitability challenge these days, many global banks are increasingly focusing on cost efficiency through more efficient banking processes, such as online and mobile banking, whereas a number of other banks choose to differentiate their services for retaining and attracting the most valuable customer segment (Deloitte, 2011). While global banks in the retail banking industry are adopting either of these two business models as a strategic choice for their long-term growth, KB Kookmin Bank, one of the leading retail banks in South Korea, has begun to operate 'KB Rockstar' as a strategic channel, particularly designed to target college students in the youth market. The new marketing strategy has resulted in a positive impact on its brand image in customers' perception as well as a drastic increase in the number of youth customers. In this study, we analyze the case of 'KB Rockstar' and summarize the key factors for its success from a marketing perspective. First, 'KB Rockstar' is not simply a good channel strategy, but an innovative marketing strategy that aligns place, product and promotion together in order to create a synergy effect, resulting in the successful implementation of the bank's targeting strategy. Second, the strategy effectively establishes 'KB Rockstar' as a brand targeted to youth customers while also competently strengthening the image of the corporate brand, KB Kookmin Bank. The skillful implementation of organically combined marketing mix strategies has enabled the successful launch of the bank's sub-brand. Third, the strategy considers a retail bank branch as not only the place that makes sales transactions in order to generate short-term profits, but also the place that builds a long-term relationship with customers in order to maximize their lifetime values in the long run.

• Journal of Distribution Science
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• v.10 no.3
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• pp.31-42
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• 2012

After the rapidly changing business management environment and financial crisis, high prices and domestic recession in Korea posed threats to the business survival of small and medium enterprises (SMEs). This paper looks at the potential of micro business owners for sustainable development: those who have a spirit of entrepreneurship and the potential to be a hidden champion. Our study of micro business values uses structure equation modeling by LISREL. We have done so in order to understand the foundation of management innovation and success model of micro enterprise by increasing the entrepreneurship and management performance relationship analysis. A micro-enterprise is a type of small business, found only in Korea, often registered as having ten or fewer employees. We examine the successful type of hidden champions and the influence of entrepreneurship on start-ups in business. As compared to past research on the SME entrepreneurship, this study segments small businesses even further. Small business entrepreneurship was classified into three forms that are most appropriate for the Korean situation today: innovation, risk-taking, and pro-activeness. This research is meaningful as it is Korea's first empirical analysis on four business types: wholesale and retail sales, food and lodging business, service business, and manufacturing business. Thus far, research on small business entrepreneurship was carried out using small-scale investigative analysis. However, this research attempted to develop a model that can explain a cause-effect relation of the motivational level when it comes to the difference of entrepreneurship by each business type and small business start-up success factors. Various conceptual and operational definitions could be developed in a diverse and precise manner. Independent variables that are related to the success of small businesses can be developed additionally to examine the success factors related to the systematization in detailed manner. The research showed that the innovation, risk-taking and pro-activeness of the manifested difference in the degree of perception depending on the type of small businesses. Among the four business types, the ones that manifested the highest successful start-up rates were food, service, wholesale and retail sales and manufacturing. Results after conducting the regression analysis are shown on, which proves that the small business entrepreneurship exerts direct effect on the financial management performance of small businesses. In other words, small business entrepreneurship exerts a positive effect on the small business financial success and management performance. The R² value is 0.61. It is possible to know that the perception of systematization and variables on attitude explains the 61% of the success for small self-employed businesses management performance. We define start-up key factors that are helpful to achieve internal growth of firms by finding business survival strategies. The results also focus on Korean government policy for micro enterprise and small business support.

• The Research Journal of the Costume Culture
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• v.9 no.3
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• pp.389-397
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• 2001

The purpose of this study is to examine the growth potentiality of the Easy-Order System in the domestic male business suit market. This study is based on a questionnaire survey of males, who usually wear a business suit in the work place, and females whose husband wear a business suit. The pertinently answered 108 questionnaires (males: 72 and females: 36) were analyzed with SPSS 8.0. The results of this survey were as follows; 1. Gender, occupation, and height of consumers had a considerable effect on their on their intention of purchasing a preference of this system. 2. Subjects, who were dissatisfied with the limited option of purching a business suit in retail shops, had a significant intention of purchasing a business suit through the Easy-Order System. 3. It had no effect on consumers\\` preference and purching intention of the Easy-Order System whether or not they recognize this system. And the Easy-Order System is not estimated to have major repercussions over consumers by now.

• Asia Marketing Journal
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• v.7 no.3
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• pp.83-104
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• 2005

This case describes Lotte Mart's practices and achievement in the aspect of social responsibilities and ethics management and its implications in retail industry. Lotte Mart set ethics management as core business objective, and establishes and operates a variety of ethics management programs for each of customer, shareholders, employees, suppliers and society. By these programs, Lotte Mart could achieve improvement in quality and price competitiveness through better partnership with supplier, get more efficiency in business through higher morale among employees, and gain improved customer loyalty through customer satisfaction.

• Journal of Distribution Science
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• v.3 no.2
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• pp.101-119
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• 2005

For the customer satisfaction, the inside customer satisfaction must be made by offering the service of a good quality to the inside customer. If the inside customer is not satisfied with own business, the achievement of customer's loyalty & customer satisfaction which have direct effects on the performance of a corporation, comes to be difficult. This study tries to analyze what effect the inside customer satisfaction has on the yield performance of a corporation on the subject of the salespersons of the direct-control store among the retail store business.

• The Journal of Fisheries Business Administration
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• v.25 no.2
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• pp.103-114
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• 1994

We consider the continous, deterministic, infinite horiton, perishable item inventory, within the setting of a retail sector, in which the price for an item is dependent on the lifetime of inventory. Replenishment cost is kept constant but the carrying cost per units is allowed to vary according to product lifetime. Tro possibilities of variation are considered : (1) Product lifetime is longer than cycletime and (2) Product lifetime is shorter than cycletime. We find the optimal policies and decision rules for perishable product.