• Title/Summary/Keyword: Retail cost

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Prediction of Carcass Composition Using Carcass Grading Traits in Hanwoo Steers

  • Lee, Jooyoung;Won, Seunggun;Lee, Jeongkoo;Kim, Jongbok
    • Asian-Australasian Journal of Animal Sciences
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    • v.29 no.9
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    • pp.1215-1221
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    • 2016
  • The prediction of carcass composition in Hanwoo steers is very important for value-based marketing, and the improvement of prediction accuracy and precision can be achieved through the analyses of independent variables using a prediction equation with a sufficient dataset. The present study was conducted to develop a prediction equation for Hanwoo carcass composition for which data was collected from 7,907 Hanwoo steers raised at a private farm in Gangwon Province, South Korea, and slaughtered in the period between January 2009 and September 2014. Carcass traits such as carcass weight (CWT), back fat thickness (BFT), eye-muscle area (EMA), and marbling score (MAR) were used as independent variables for the development of a prediction equation for carcass composition, such as retail cut weight and percentage (RC, and %RC, respectively), trimmed fat weight and percentage (FAT, and %FAT, respectively), and separated bone weight and percentage (BONE, and %BONE), and its feasibility for practical use was evaluated using the estimated retail yield percentage (ELP) currently used in Korea. The equations were functions of all the variables, and the significance was estimated via stepwise regression analyses. Further, the model equations were verified by means of the residual standard deviation and the coefficient of determination ($R^2$) between the predicted and observed values. As the results of stepwise analyses, CWT was the most important single variable in the equation for RC and FAT, and BFT was the most important variable for the equation of %RC and %FAT. The precision and accuracy of three variable equation consisting CWT, BFT, and EMA were very similar to those of four variable equation that included all for independent variables (CWT, BFT, EMA, and MAR) in RC and FAT, while the three variable equations provided a more accurate prediction for %RC. Consequently, the three-variable equation might be more appropriate for practical use than the four-variable equation based on its easy and cost-effective measurement. However, a relatively high average difference for the ELP in absolute value implies a revision of the official equation may be required, although the current official equation for predicting RC with three variables is still valid.

The Impact of Market Environments on Optimal Channel Strategy Involving an Internet Channel: A Game Theoretic Approach (시장 환경이 인터넷 경로를 포함한 다중 경로 관리에 미치는 영향에 관한 연구: 게임 이론적 접근방법)

  • Yoo, Weon-Sang
    • Journal of Distribution Research
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    • v.16 no.2
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    • pp.119-138
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    • 2011
  • Internet commerce has been growing at a rapid pace for the last decade. Many firms try to reach wider consumer markets by adding the Internet channel to the existing traditional channels. Despite the various benefits of the Internet channel, a significant number of firms failed in managing the new type of channel. Previous studies could not cleary explain these conflicting results associated with the Internet channel. One of the major reasons is most of the previous studies conducted analyses under a specific market condition and claimed that as the impact of Internet channel introduction. Therefore, their results are strongly influenced by the specific market settings. However, firms face various market conditions in the real worlddensity and disutility of using the Internet. The purpose of this study is to investigate the impact of various market environments on a firm's optimal channel strategy by employing a flexible game theory model. We capture various market conditions with consumer density and disutility of using the Internet.

    shows the channel structures analyzed in this study. Before the Internet channel is introduced, a monopoly manufacturer sells its products through an independent physical store. From this structure, the manufacturer could introduce its own Internet channel (MI). The independent physical store could also introduce its own Internet channel and coordinate it with the existing physical store (RI). An independent Internet retailer such as Amazon could enter this market (II). In this case, two types of independent retailers compete with each other. In this model, consumers are uniformly distributed on the two dimensional space. Consumer heterogeneity is captured by a consumer's geographical location (ci) and his disutility of using the Internet channel (${\delta}_{N_i}$).
    shows various market conditions captured by the two consumer heterogeneities.
    (a) illustrates a market with symmetric consumer distributions. The model captures explicitly the asymmetric distributions of consumer disutility in a market as well. In a market like that is represented in
    (c), the average consumer disutility of using an Internet store is relatively smaller than that of using a physical store. For example, this case represents the market in which 1) the product is suitable for Internet transactions (e.g., books) or 2) the level of E-Commerce readiness is high such as in Denmark or Finland. On the other hand, the average consumer disutility when using an Internet store is relatively greater than that of using a physical store in a market like (b). Countries like Ukraine and Bulgaria, or the market for "experience goods" such as shoes, could be examples of this market condition. summarizes the various scenarios of consumer distributions analyzed in this study. The range for disutility of using the Internet (${\delta}_{N_i}$) is held constant, while the range of consumer distribution (${\chi}_i$) varies from -25 to 25, from -50 to 50, from -100 to 100, from -150 to 150, and from -200 to 200.
    summarizes the analysis results. As the average travel cost in a market decreases while the average disutility of Internet use remains the same, average retail price, total quantity sold, physical store profit, monopoly manufacturer profit, and thus, total channel profit increase. On the other hand, the quantity sold through the Internet and the profit of the Internet store decrease with a decreasing average travel cost relative to the average disutility of Internet use. We find that a channel that has an advantage over the other kind of channel serves a larger portion of the market. In a market with a high average travel cost, in which the Internet store has a relative advantage over the physical store, for example, the Internet store becomes a mass-retailer serving a larger portion of the market. This result implies that the Internet becomes a more significant distribution channel in those markets characterized by greater geographical dispersion of buyers, or as consumers become more proficient in Internet usage. The results indicate that the degree of price discrimination also varies depending on the distribution of consumer disutility in a market. The manufacturer in a market in which the average travel cost is higher than the average disutility of using the Internet has a stronger incentive for price discrimination than the manufacturer in a market where the average travel cost is relatively lower. We also find that the manufacturer has a stronger incentive to maintain a high price level when the average travel cost in a market is relatively low. Additionally, the retail competition effect due to Internet channel introduction strengthens as average travel cost in a market decreases. This result indicates that a manufacturer's channel power relative to that of the independent physical retailer becomes stronger with a decreasing average travel cost. This implication is counter-intuitive, because it is widely believed that the negative impact of Internet channel introduction on a competing physical retailer is more significant in a market like Russia, where consumers are more geographically dispersed, than in a market like Hong Kong, that has a condensed geographic distribution of consumers.
    illustrates how this happens. When mangers consider the overall impact of the Internet channel, however, they should consider not only channel power, but also sales volume. When both are considered, the introduction of the Internet channel is revealed as more harmful to a physical retailer in Russia than one in Hong Kong, because the sales volume decrease for a physical store due to Internet channel competition is much greater in Russia than in Hong Kong. The results show that manufacturer is always better off with any type of Internet store introduction. The independent physical store benefits from opening its own Internet store when the average travel cost is higher relative to the disutility of using the Internet. Under an opposite market condition, however, the independent physical retailer could be worse off when it opens its own Internet outlet and coordinates both outlets (RI). This is because the low average travel cost significantly reduces the channel power of the independent physical retailer, further aggravating the already weak channel power caused by myopic inter-channel price coordination. The results implies that channel members and policy makers should explicitly consider the factors determining the relative distributions of both kinds of consumer disutility, when they make a channel decision involving an Internet channel. These factors include the suitability of a product for Internet shopping, the level of E-Commerce readiness of a market, and the degree of geographic dispersion of consumers in a market. Despite the academic contributions and managerial implications, this study is limited in the following ways. First, a series of numerical analyses were conducted to derive equilibrium solutions due to the complex forms of demand functions. In the process, we set up V=100, ${\lambda}$=1, and ${\beta}$=0.01. Future research may change this parameter value set to check the generalizability of this study. Second, the five different scenarios for market conditions were analyzed. Future research could try different sets of parameter ranges. Finally, the model setting allows only one monopoly manufacturer in the market. Accommodating competing multiple manufacturers (brands) would generate more realistic results.

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  • Antecedents of Manufacturer's Private Label Program Engagement : A Focus on Strategic Market Management Perspective (제조업체 Private Labels 도입의 선행요인 : 전략적 시장관리 관점을 중심으로)

    • Lim, Chae-Un;Yi, Ho-Taek
      • Journal of Distribution Research
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      • v.17 no.1
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      • pp.65-86
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      • 2012
    • The $20^{th}$ century was the era of manufacturer brands which built higher brand equity for consumers. Consumers moved from generic products of inconsistent quality produced by local factories in the $19^{th}$ century to branded products from global manufacturers and manufacturer brands reached consumers through distributors and retailers. Retailers were relatively small compared to their largest suppliers. However, sometime in the 1970s, things began to slowly change as retailers started to develop their own national chains and began international expansion, and consolidation of the retail industry from mom-and-pop stores to global players was well under way (Kumar and Steenkamp 2007, p.2) In South Korea, since the middle of the 1990s, the bulking up of retailers that started then has changed the balance of power between manufacturers and retailers. Retailer private labels, generally referred to as own labels, store brands, distributors own private-label, home brand or own label brand have also been performing strongly in every single local market (Bushman 1993; De Wulf et al. 2005). Private labels now account for one out of every five items sold every day in U.S. supermarkets, drug chains, and mass merchandisers (Kumar and Steenkamp 2007), and the market share in Western Europe is even larger (Euromonitor 2007). In the UK, grocery market share of private labels grew from 39% of sales in 2008 to 41% in 2010 (Marian 2010). Planet Retail (2007, p.1) recently concluded that "[PLs] are set for accelerated growth, with the majority of the world's leading grocers increasing their own label penetration." Private labels have gained wide attention both in the academic literature and popular business press and there is a glowing academic research to the perspective of manufacturers and retailers. Empirical research on private labels has mainly studies the factors explaining private labels market shares across product categories and/or retail chains (Dahr and Hoch 1997; Hoch and Banerji, 1993), factors influencing the private labels proneness of consumers (Baltas and Doyle 1998; Burton et al. 1998; Richardson et al. 1996) and factors how to react brand manufacturers towards PLs (Dunne and Narasimhan 1999; Hoch 1996; Quelch and Harding 1996; Verhoef et al. 2000). Nevertheless, empirical research on factors influencing the production in terms of a manufacturer-retailer is rather anecdotal than theory-based. The objective of this paper is to bridge the gap in these two types of research and explore the factors which influence on manufacturer's private label production based on two competing theories: S-C-P (Structure - Conduct - Performance) paradigm and resource-based theory. In order to do so, the authors used in-depth interview with marketing managers, reviewed retail press and research and presents the conceptual framework that integrates the major determinants of private labels production. From a manufacturer's perspective, supplying private labels often starts on a strategic basis. When a manufacturer engages in private labels, the manufacturer does not have to spend on advertising, retailer promotions or maintain a dedicated sales force. Moreover, if a manufacturer has weak marketing capabilities, the manufacturer can make use of retailer's marketing capability to produce private labels and lessen its marketing cost and increases its profit margin. Figure 1. is the theoretical framework based on a strategic market management perspective, integrated concept of both S-C-P paradigm and resource-based theory. The model includes one mediate variable, marketing capabilities, and the other moderate variable, competitive intensity. Manufacturer's national brand reputation, firm's marketing investment, and product portfolio, which are hypothesized to positively affected manufacturer's marketing capabilities. Then, marketing capabilities has negatively effected on private label production. Moderating effects of competitive intensity are hypothesized on the relationship between marketing capabilities and private label production. To verify the proposed research model and hypotheses, data were collected from 192 manufacturers (212 responses) who are producing private labels in South Korea. Cronbach's alpha test, explanatory / comfirmatory factor analysis, and correlation analysis were employed to validate hypotheses. The following results were drawing using structural equation modeling and all hypotheses are supported. Findings indicate that manufacturer's private label production is strongly related to its marketing capabilities. Consumer marketing capabilities, in turn, is directly connected with the 3 strategic factors (e.g., marketing investment, manufacturer's national brand reputation, and product portfolio). It is moderated by competitive intensity between marketing capabilities and private label production. In conclusion, this research may be the first study to investigate the reasons manufacturers engage in private labels based on two competing theoretic views, S-C-P paradigm and resource-based theory. The private label phenomenon has received growing attention by marketing scholars. In many industries, private labels represent formidable competition to manufacturer brands and manufacturers have a dilemma with selling to as well as competing with their retailers. The current study suggests key factors when manufacturers consider engaging in private label production.

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    The Y Generation's Decision Factors of Purchasing Jeans in the United States (미국 Y세대의 청바지 구매결정요인에 관한 연구)

    • Hwang, Su-Jeong;Lee, Jin-Hee
      • The Research Journal of the Costume Culture
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      • v.17 no.5
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      • pp.878-885
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      • 2009
    • The Y generation born between 1981 and 1995 is the largest consumer group in the United States. This study is to provide an insight of understanding Y generation's decision factors of purchasing Jeans and the fit issues. This study investigated their purchasing decisions factors, including fit, cost, brand, color, and the media/internet influences. It is revealed that the Y generation might have access to the internet, but they still rely more on their peers and savvy skills to decide what they purchase. They preferred to shop from the land based retail stores rather than the internet. The fit was the most important factor of their purchasing decision, but less concerns of the brand. In this study, 87% of them chose "fit" as the reason to buy a pair of jeans. Fit problems were related to the price category. This study suggests apparel manufacturers should understand Y generation's fit issues in the global market.

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    Teens and College Students' Purchasing Decision Factors of Denim Jeans In the United States

    • Hwang Shin, Su-Jeong;Fowler, Deborah;Lee, Jinhee
      • Fashion & Textile Research Journal
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      • v.15 no.6
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      • pp.971-976
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      • 2013
    • This study provides insight into current social media influences and purchasing power of the young generation in that the size of both of these demographic groups will impact the apparel companies and retail market for the predictable future Denim apparel companies are aware of the discretionary spending power of the Y and Z Generations. The characteristics of current teens are so similar to college-age individuals in that they have grown up with digital technology and they prefer to communicate via social networking sites. Retailers have utilized these social media platforms in order to capture the attention of the generations. Traditionally marketing campaigns have differentiated between teens and the college-age population. However, the teens actually have larger spending power and more discretionary income. A survey consisted of 32 questions pertaining to Internet media influences, influence of people, and decision factors on decisionmaking related to purchasing selection. A random sampling of 163 females responded to a set of questionnaires. Teens, like college students desire to make their own decisions when they select and purchase denim jeans. Overall 40% of them wanted to make their own decisions when purchasing their jeans, however, a significant number are influenced by their friend's opinions (34%) and the opinions of family members (15%). However, celebrities (10%) had the least influence on their decisions. Teens, like colleges students make decisions based on the same decision factors: fit (63%), cost (23%), brand (10%) and color (2%). The most important factor in determining preference was "fit".

    Dry aging of beef; Review

    • Dashdorj, Dashmaa;Tripathi, Vinay Kumar;Cho, Soohyun;Kim, Younghoon;Hwang, Inho
      • Journal of Animal Science and Technology
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      • v.58 no.5
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      • pp.20.1-20.11
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      • 2016
    • The present review has mainly focused on the specific parameters including aging (aging days, temperature, relative humidity, and air flow), eating quality (flavor, tenderness and juiciness), microbiological quality and economic (shrinkage, retail yields and cost) involved beef dry aging process. Dry aging is the process where beef carcasses or primal cuts are hanged and aged for 28 to 55 d under controlling environment conditions in a refrigerated room with $0^{\circ}$ to $4^{\circ}C$ and with relative humidity of 75 to 80 %. However there are various opinions on dry aging procedures and purveyors of such products are passionate about their programs. Recently, there has been an increased interest in dry aging process by a wider array of purveyors and retailers in the many countries. Dry aging process is very costly because of high aging shrinkage (6 to 15 %), trims loss (3 to 24 %), risk of contamination and the requirement of highest grades meat with. The packaging in highly moisture-permeable bag may positively impact on safety, quality and shelf stability of dry aged beef. The key effect of dry aging is the concentration of the flavor that can only be described as "dry-aged beef". But the contribution of flavor compounds of proteolysis and lipolysis to the cooked dry aged beef flavor is not fully known. Also there are limited scientific studies of aging parameters on the quality and palatability of dry aged beef.

    Living Environment, Musculoskeletal Disorder and the Decrease of Work Efficiency & Quality of Life (생활 환경요인에 의한 근골격계 질환이 업무능률 및 삶의 질 저하에 미치는 영향)

    • Park, Jong-Ho;Kim, Eun-Jeong
      • The Journal of Industrial Distribution & Business
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      • v.8 no.7
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      • pp.63-70
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      • 2017
    • Purpose - Due to the lack of physical activities and the increase of sedentary behaviors such as screen time, the health condition for contemporaries has been deteriorating. This study is designed to investigate how the use of worktable or tools unfit for body and sedentary behaviors can exercise influence on muscular skeletal disease and how it has an impact on lowering work efficiency and the quality of life with the medium of the muscular skeletal disease. Research design, data, and methodology - The research has developed a questionnaire with 5 hypothesis. The questionnaires were also made by interview and E-mail. 350 copies of questionnaires were distributed and 315 questionnaire were used for the analysis as valid data responses. SPSS ver.22.0 were used and made Cronbach's and reliability test, correlation, Baron & α Kenny 3 step mediated regression analysis. Results - The research has found that living environment factors have positive effect on the occurrence of musculosketal disease. Particularly, repeated use of unfit worktable or tools has a positive effect on the muscular skeletal disorder. And sedentary lifestyle also has a positive effect on the disease. The musculoskeletal disease caused by living environment has a positive impact on lowering the work efficiency. This study has also showed that the muscular skeletal disease has mediated the relationship between the living environment factors and the decrease of work efficiency due to musculoskeletal disease. The musculoskeletal disorders can effect the decrease of the quality of life as well, for the decrease of work efficiency has a positive effect on lowering the quality of life. Conclusions - Sedentary lifestyles, the use of worktable unfit for body, and the repeated use of a tool have caused the increase of muscular-skeletal diseases, and reduction of productivity as well as the hight cost of medical treatment for our contemporaries. Understanding the cause of disease morbidity, finding ways to prevent the disease, and educating people about them would contribute not only to improvement of individual health but also to the advancement of welfare for all.

    [Retraction] Analysis on the Effects of Location Factors on Sales of Convenience Stores -Comparative Analysis on Busan and Gyeong-nam Region- ([논문 철회] 입지요인이 편의점 성과에 미치는 영향 요인분석 -부산지역·경남지역 대상으로 비교분석-)

    • Hwang, Kyu-Sung;Lee, Chan-Ho
      • Journal of Digital Convergence
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      • v.12 no.12
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      • pp.129-137
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      • 2014
    • The purpose of this study is to understand major factors of site selection of convenience stores in Busan and Gyeong-nam Region. This will be done by analyzing correlations of sale, profit and localization factors and choosing the major correlation factors out of them and carrying out regression analysis to analyze each factor's influence extent. the competition factor : It is shown that the competition factor has significant result with the sale and the profit and the effect of that is proved the biggest among all location requirements. Therefore, the competition factor is the most important factors above all. By providing recently standards and implications of site selection of stores, this study suggests a guideline for site selection not only to prep entrepreneurs and store developers but also prep entrepreneurs of retail store.

    Preparation and characterization of inexpensive submicron range inorganic microfiltration membranes

    • Nandi, B.K.;Das, B.;Uppaluri, R.;Purkait, M.K.
      • Membrane and Water Treatment
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      • v.1 no.2
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      • pp.121-137
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      • 2010
    • This work presents inexpensive inorganic precursor formulations to yield submicron range symmetric ceramic microfiltration (MF) membranes whose average pore sizes were between 0.1 and $0.4{\mu}m$. Incidentally, the sintering temperature used in this work was about 800 to $950^{\circ}C$ instead of higher sintering temperatures ($1100^{\circ}C$) that are usually deployed for membrane fabrication. Thermogravimetric (TGA) and X-Ray diffraction (XRD) analysis were carried out to evaluate the effect of temperature on various phase transformations during sintering process. The effect of sintering temperature on structural integrity of the membrane as well as pore size distribution and average pore size were evaluated using scanning electron microscopy (SEM) analysis. The average pore sizes of the membranes were increased from 0.185 to $0.332{\mu}m$ with an increase in sintering temperature from 800 to $950^{\circ}C$. However, a subsequent reduction in membrane porosity (from 34.4 to 19.6%) was observed for these membranes. Permeation experiments with both water and air were carried out to evaluate various membrane morphological parameters such as hydraulic pore diameter, hydraulic permeability, air permeance and effective porosity. Later, the membrane prepared with a sintering temperature of $950^{\circ}C$ was tested for the treatment of synthetic oily waste water to verify its real time applicability. The membrane exhibited 98.8% oil rejection efficiency and $5.36{\times}10^{-6}\;m^3/m^2.s$ permeate flux after 60 minutes of experimental run at 68.95 kPa trans-membrane pressure and 250 mg/L oil concentration. Based on retail and bulk prices of the inorganic precursors, the membrane cost was estimated to be $220 /$m^2$ and $1.53 /$m^2$, respectively.

    국제거래(國際去來)에 있어서의 제조물책임(製造物責任)과 그 대응(對應)

    • Gang, Lee-Su
      • Journal of Arbitration Studies
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      • v.10 no.1
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      • pp.92-113
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      • 2000
    • Products liability refers to the liability of any or all parties along the chain of manufacture of any product for damage caused by that product. This includes the manufacturer of component parts (at the top of the chain), an assembling manufacturer, the wholesaler, and the retail store owner (at the bottom of the chain). Products containing inherent defects that cause harm to a consumer of the product, or someone to whom the product was loaned, given, etc., are the subjects of products liability suits. The goal of products liability system should be to maximize consumer welfare by efficiently providing just compensation for injuries incurred and deterring future injuries without unreasonably impeding the supply of the goods and services to consumers. Some advanced countries, apart from relying on products liability systems, also apply other policies and legislation directly aimed at the safety of the consumer. The application of general safety policies as well as products liability rules is not costless. An efficient system will not eliminate risk from society. An efficient system ... that maximises consumer welfare ... maximises the benefits while minimising the costs. Products liability claims can be based on negligence, strict liability, or breach of warranty of fitness depending on the jurisdiction where the claim is based. In view of international business and law circumstances, it should be stressed that international enterprises in Korea should consider how to cope with the situation of international transaction. International enterprises should have a correct perception about products liability which is to contribute the stabilization and improvement of the people's life and the sound develpement of the national economy. Products liability system creates incentives that influence behaviour and performance in ways that are desirable, such as more diligent monitoring to prevent defective products from reaching the market-place. At the same time, any liability system will impose burdens that are undesirable, such as greater costs imposed on business and consumers and reduced avaiability of consumer goods. The concern for society is to balance. The ideal situation is where the cost imposed on producers of goods and services pushes them to a desirable level of care but not so far that producers reach undesirable level of caution that may deprive consumers unnecessarily of the benefits from new and innovative products.

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