• KDI Journal of Economic Policy
• /
• v.41 no.2
• /
• pp.59-79
• /
• 2019

This study analyzes whether mutual fund distributors are more likely to recommend products with higher sales compensation to maximize their profit. The lists of the 'fund of the month' on their webpages are utilized from April of 2015 to August of 2015. A simple comparative analysis shows that the average sales fees and the average front-end load are significantly higher in the recommended funds among the A share class of domestic equity funds. The results of a regression analysis confirm that funds with high sales compensation levels are more likely to be recommended. This holds true for both domestic equity funds and hybrid bond funds even after controlling for fund age, fund size, and past returns.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.27 no.4
• /
• pp.33-41
• /
• 2004

This study examines the relationship between multiple sales force management practices and performance within each of Miles & Snow (1978)'s strategy types and Walker & Ruekert (1987)'s strategy types. The findings are as follows : First, Prospectors seem to be associated with increased performance when they are utilizing a relationship selling strategy, internal sales force, moderate levels of supervision, outcome-based control system and incentive-oriented compensation system. Second, Analyzers seem to be associated with increased performance when they are utilizing a relationship selling strategy, internal sales force, outcome-based control system to deal with the instability in their strategic focus. Third, Low Cost Defender seem to be associated with increased performance when they are utilizing a relationship selling strategy, external sales force, low levels of supervision, outcome-based control system and salary-oriented compensation system. Fourth, Differentiated Defenders seem to be associated with increased performance when they are utilizing a relationship selling strategy, high levels of supervision, balanced (outcome+behavior) control system and salary-oriented compensation system.

• Journal of Venture Innovation
• /
• v.6 no.2
• /
• pp.123-144
• /
• 2023

In the age of 100 years, it had become very important to prepare for unexpected dangers. This study was conducted to analyze the factors affecting the sales performance of financial planners. We analyzed the influence relationship of sales training, sales management, and customer orientation on sales performance, and furthermore, analyzed the impact of these influence relationships. To this end, sales training was subdivided into customer development, sales competency, and learning agility. Customer orientation was subdivided into the use of customer management system, SNS use, and customer service provision. Sales management was subdivided into goal orientation, manager leadership, and compensation system. The effect of these detailed variables on sales performance was empirically analyzed. To this end, a survey was conducted targeting currently active financial planners. The survey was conducted for a month in January 2023, and 250 valid samples were analyzed. The results of the empirical analysis were as follows. Customer development and learning agility had a significant positive (+) effect on sales performance. Sales competency were not tested for significance. Among customer orientations, SNS use and customer service provision had a significant positive (+) effect on sales performance. The use of the customer management system was not tested for significance. Among sales management, goal orientation and compensation system had a significant positive (+) effect on sales performance. Manager leadership was not tested for significance. The influence of variables that significantly affect sales performance was in the order of goal orientation, customer service provision, compensation system, slearning agility, customer development, and SNS use. Based on these research results, academic and practical implications were presented.

• Journal of the Korea Fashion and Costume Design Association
• /
• v.10 no.2
• /
• pp.163-178
• /
• 2008

The purpose of this study is to search the characteristics and strategy of sales promotion in on-line fashion SOHO (Small Office Home Office) shopping malls. 87 of these shopping malls have been selected through a ranking service called 100HOT (http://www.100hot.co.kr), and 906 cases of sales promotion activities have been executed on web-sites of these shopping malls. The cases have been analyzed by descriptive statistics and chi-square analysis. The results are as follows: First, on-line fashion SOHO shopping malls have frequently used sales promotion tactics such as demonstration, display, viral marketing, sale, event, customer compensation, community marketing, experimental marketing, coupon, premium, reserve fund and delivery service. Second, there are significant differences between shopping malls for men and women in sales promotion tactics such as demonstration, viral marketing, sale, and community marketing, but there is no significant difference in tactics such as demonstration, event, and customer compensation. Third, the shopping malls have used various sales promotion strategies such as maximizing the sales, characterizing product features, procuring new customers, preserving existing customers, enhancing customer loyalty, improving customer relationship and controlling returns.

• The Journal of the Korea Contents Association
• /
• v.16 no.2
• /
• pp.45-56
• /
• 2016

This study explains about a phenomenon where the structure of the compensation plan for a single salesperson may vary as he/she gains experience. Unlike past studies that implicitly assume the limited effect on salesperson's experience, our result predicts that a salesperson will make an effort at every period early in his/her career without any commissions in order to gain experience. However, if one cannot expect any marginal returns of accumulated efforts, the sales manager must provide commissions on the high volume of sales at each period, to facilitate a high effort of a salesforce at earlier periods. Our paper provides important implications about dynamics in the compensation plan, which has not been addressed in the past studies but has frequently been witnessed in practice.

• East Asian Journal of Business Economics (EAJBE)
• /
• v.5 no.2
• /
• pp.1-11
• /
• 2017

This study attempts to verify effects of CEO' supports, compensation and educational training and those of individual annual salaries and company's sales on promotion of knowledge management expected to contribute to enhancing construction industry's competitiveness, from the perspective of person-organization fit. For the analysis, a total of 368 effective questionnaires were used to conduct independent sample t-test, regression analysis and hierarchical moderated regression analysis. The findings show that individual annual salaries have a positive relationship with company's performance and company's sales also have positive relationships with both knowledge management activities and company performance, and CEO's supports, compensation and educational training are important factors that can improve knowledge management activities. In addition, the principle that the rich get richer and the poor get poorer is also operated in construction industry, as in other industries. Therefore, members in a company should conduct optimal strategies to enhance the knowledge management activities through selection and concentration, while governmental agencies require the establishment of IT system for it and supports for related cost and consulting of it.

• Journal of Distribution Science
• /
• v.20 no.4
• /
• pp.111-119
• /
• 2022

Purpose: This study seeks to address the omission through examining the manner in which demographic similarity affects the responses of employees in the retail sector towards horizontal pay dispersion. Through doing so the study will be effective in bolstering the recent efforts of more careful exploration of conditions. Research design, data, and methodology: Scant past studies are available to guide for practitioners in retail sector which compensation strategy might lead adequate job performance for retail sales workers. To suggest possible solution, the present authors used variables of pay dispersion and obtained 317 US retail sale workers in distribution channels to measure the association between pay dispersion and employee job performance. Results: The statistical findings indicated both first and second hypothesis could be acceptable with favorable Beta and T values, resulting high degree of pay dispersion leads a low level of job performance, while a low degree of pay dispersion can motivate retail sales workers to improve their performance. Conclusions: The findings of this study raises an argument that processes of social comparison work in a more vigorous manner. This is thus a representation of the propensity of a retail sales worker to voluntarily resign from an organization when dispersion rates are higher.

• Journal of the Korea Fashion and Costume Design Association
• /
• v.18 no.3
• /
• pp.1-19
• /
• 2016

This study tried to find out implementation factors of internal marketing for a cosmetic retailer, and to look into their effects on Salesperson's job satisfaction, organization commitment, customer orientation and sales performance. For this, this study inquired into the concepts and relationships of internal marketing, job satisfaction, organization commitment, customer orientation and sales performance through literature review; and tested the relationships between the variables by setting up a research model and hypotheses. The findings of this study may be summarized as follows: First, it was found that the better the education & training, the supervisor support and the compensation system among internal marketing factors of a cosmetic retailer were, the higher a door-to-door salesperson's job satisfaction was. Second, it was found that the better internal communication and the education & training among internal marketing factors of a cosmetic retailer were, the higher a door-to-door salesperson's organization commitment was. Third, the higher the job satisfaction of a door-to-door salesperson in a cosmetic retailer was, the higher the organization commitment was. Fourth, it was found that the higher the organization commitment of a door-to-door salesperson in a cosmetic retailer was, the higher the customer orientation was. Fifth, it was found that the higher the organization commitment and customer orientation of a door-to-door salesperson in a cosmetic retailer were, the higher the sales performance was. In conclusion, the internal marketing increases door-to-door Salesperson's job satisfaction, and enhances the sense of belonging to their cosmetic retailer. Further, they come to have a customer-oriented attitude in serving customers, which is directly connected to sales performance, and thus the retailer can create profits through internal marketing. Therefore, a cosmetic retailer will need to strengthen internal communication activities through diverse methods, expand and activate employees' professional education, and develop fair and just compensation system; and supervisors will need to give support to employees, trusting their judgment.

• Journal of Global Scholars of Marketing Science
• /
• v.8
• /
• pp.111-138
• /
• 2001

Currently marketing researchers are investigating the causal variables affecting to salesforces' performances. Some researchers found personal and organizational affecting variables as well as structural context of variables. But almost affecting variables examined in salesforce performance researches are personal characteristics. Such organizational variables like leadership, organization's market orientation would be worth to examine in salesforce performance researches. Thus this research is intended to analyze effects of personal and organizational characteristics on salesforces' performances. Data for this research were elicited from sales representatives of motor companies. Data collected were analyzed by regression analysis using SPSSWIN Ver.10.0. The following are major findings of this research. 1. Leadership whether transformational or transactional affected on salesforces' performances. But it was not accepted that transformational leadership would be superior than transactional leadership. 2. Market Orientation of organization affected on its salesforces' performances. 3. Personal characteristics such as need for achievement, compensation predispositon, self efficacy, learning goal orientation were affect on salesforces' performances. But it found that effects of intrinsic compensation predisposition on salesforces, performances were reverser (-). Based on the above findings, the following conclusion could be drawn: 1. Organizational variables like leadership and market orientation are key managerial variables in the sales organization, meaning that sales manager development and organization's market-driven culture are important. 2. Through recruiting and educating, raising salesforces' self-esteem is necessitated.

• Journal of the Korean Operations Research and Management Science Society
• /
• v.31 no.3
• /
• pp.27-40
• /
• 2006

Today's customer demands in supply chains tend to change quickly, variously even in a short time Interval. The uncertainties of customer demands make it difficult for supply chains to achieve efficient inventory replenishment, resulting in loosing sales opportunity or keeping excessive chain wide inventories. Un this paper, we propose an adaptive vendor managed inventory (VMI) model for a two-echelon supply chain with non-stationary customer demands using the action-reward learning method. The Purpose of this model is to decrease the inventory cost adaptively. The control Parameter, a compensation factor, is designed to adaptively change as customer demand pattern changes. A simulation-based experiment was performed to compare the performance of the adaptive VMI model.