• Title/Summary/Keyword: Transaction strategy

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An Exploratory Study on Customers' Individual Factors on Waiting Experience (고객의 개인적 요소가 대기시간 경험에 미치는 영향에 대한 탐색적 연구)

  • Kim, Juyoung;Yoo, Bomi
    • Asia Marketing Journal
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    • v.12 no.1
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    • pp.1-30
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    • 2010
  • Customers often experience waiting for buying service. Managing customers' waiting time is important for service providers since customers who are dissatisfied with waiting, secede from a service place at last. Not a few studies have been done to solve waiting time problem and improve customers' waiting experience. Hui & Tse(1996) identify evaluation factors in customers' behavioral mechanism as customers wait. That is, customers experience perceived waiting time, waiting acceptability and emotional response to the wait when they wait. Since customers evaluate the wait using these factors, service provider should manage these factors in order to minimize customers' dissatisfaction. Therefore, this study explores that evaluation factors of waiting are influenced by customers' situational and experiential characteristics, which include customer loyalty, transaction importance for customer and waiting expectation level. Those situational and experiential characteristics are usually given to service providers so they can't control these at waiting point. The major findings derived from two exploratory studies can be summarized as follows. First, according to the result from the study 1 (restaurant setting), customers' transaction importance has the greatest positive influence on waiting experience. The results show restaurant service provider could prevent customers' separation effectively through strategies which raise customers' transaction importance, like giving special coupons for important events. Second, in study 2 (amusement part setting) customer loyalty has large positive impact on waiting experience as well as transaction importance. This results show that service provider could minimize customers' dissatisfaction using strategies which raise customer loyalty continuously. This results show customer perceives waiting experience differently according to characteristics of service place and service itself. Therefore, service provider should grasp the unique customers' situational and experiential characters for each service and service place. It could provide an effective strategy for waiting time management. Third, the study finds transaction importance and waiting expectation level have direct influence customers' waiting experience as independent variables, while existing studies treated them as moderators. Customer loyalty which has not been incorporated in previous waiting time research is known to affect waiting experience. It suggests that marketing strategy which builds up customer loyalty for long period of time is also quite effective, compared to short term tactics to help customers endure waiting time. Fourth, this study reveals the importance of actual waiting time along with perceived waiting time. So far most studies only focus on customers' perceived waiting time. Especially, this study incorporates the concept of patient limit on waiting time to investigate effect of actual waiting time. The results show that there were various responses to the wait depending on how actual waiting time exceeds individual's patent limit on waiting time or not, even though customers wait about the same period of time. Finally, using structural equation model, conceptual path between behavioral responses is verified. As customer perceives waiting time, then she decides whether she can endure it or not, and then her emotional response occurs. This result are somewhat different from Hui & Tse(1996)'s study. The study also includes theoretical contributions as well as practical implications.

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Critical Success and Failure Factors of e-Government Project Implementation in Kenya (케냐의 전자정부 프로젝트 핵심 성공 및 실패 요인)

  • Wamoto, Francis O.K.;Hwang, Gee-Hyun
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.39 no.2
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    • pp.119-128
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    • 2016
  • Use of ICT in Government has ability to improve service delivery to its citizens, and yet many developing countries have lagged behind in the implementation of e-Government. Many e-Government initiatives also failed to achieve their objectives in developing countries. This paper therefore aims to identify critical failure or success factors in Kenya, using Heeks' Factor Model. A survey questionnaire was developed and data were collected and analyzed from officials and interested citizens. The analysis results enabled to highlight seven specific success and failure factors, and their constituent elements in Kenya. The Kenyan overall e-Government implementation score belongs to the Zone of Improvement (3.52 of total 5.0), which means partial success or failure. The enablers of e-Government projects are good strategy formulation, and internal and external drive, whereas main failures of e-Government are weak ICT infrastructure. The areas for improvement are project management, design, competencies and funding. Data analysis highlights both strengths and weaknesses for each factor or variable. In particular, Kenyan government excels at the drive for change by top to bottom government officers as well as external stakeholders, while the government officers who are using e-Government are satisfied with the availability of vision, strategy and plan of e-Government implementation. Both technologies and e-transactions laws were the worst of all the variables in e-Government implementation. Two areas should be improved using immediate corrective action. In-depth study reveals that government officers and citizens can't fully use their laptop and mobile devices due to the lack of both ICT network and its operating technology, and legal system associated with the transaction of business information. Finally, the study ends up with recommendations for policy makers to shape the future of e-Government system in both developing and developed countries.

Dispute Resolution by e-ADR for e- Trade in the Northeast Asia (동북아 e-Trade 활성화를 위한 e-ADR에 의한 분쟁해결에 관한 연구)

  • 최석범;박종석;정재우
    • Journal of Arbitration Studies
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    • v.12 no.2
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    • pp.185-220
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    • 2003
  • Korean Government is increasingly focusing on the Northeast Asia Business and Logistics Hub strategy to create a competitive advantage. A key element of this strategy is creating or leveraging distribution and logistics hubs that act as centres for distribution in Northeast Asia. A Northeast Asian e-Hub Policy is required for business hub and logistics hub in the Northeastern Asia. An e-Hub is an integrated, sophisticated set of e-Biz, information and e-trade facilities and services that provides access to a marketplace and exchangee the e-trade data. To study the e-Hub policy, Pan Asian e-Commerce Alliance, Korea-Japan e-Trade Hub project, and ASEM e-Trade project are considered. E-trade via cyberspace may need new methods of dispute resolution to reduce transaction costs for small value-related disputes and to erect structures that work well across national boundaries. Voluntary Mediation Councils and cyber tribunals should be encouraged by governmental sectors to continue developing private sector mechanisms to resolve e-trade disputes. Government-sponsored online cross-border dispute resolution systems may be also be useful to complement these private sector approaches. E-trade in Northeast Asia results in disputes owing to the incompleteness of e-trade law in the countries. These disputes contain disputes regarding e-trade model, central title registry, authentication body. To resolve these disputes in the Northeast Asia, a variety of electronic alternative dispute resolution bodies must be organized under cooperation of Korea, Japan, China. This study deals with the e-ADR construction in the Northeast Asia to resolve the disputes in the e-trade and to activate the e-trade in the Northeast Asia.

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A Study on Relative Importance of Service Convenience in the Convenience Store Using AHP : Gap Analysis between Consumers and Store Owners (AHP를 활용한 편의점 서비스 편의성의 상대적 중요도 연구 : 경영자와 소비자 간의 Gap Analysis)

  • Kim, Kihyung;Han, SangLin;Kim, Juyeon
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.42 no.3
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    • pp.142-156
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    • 2019
  • [Purpose] It aims to suggest the differential factors to enhance the customer satisfaction and to activate the shopping in the convenience store (CVS). [Methodology] Convenience store service convenience (CVS SERVCON) was developed at the first time and the gap of relative importance level between the owners and the consumers was assessed by AHP analysis method..[Findings] First, the importance of access convenience was assessed as the first priority in both CVS owners' group and the consumers' group, while the detailed elements showed the differences which required the improvements. Based on the consumers' assessment, the importance of location was relatively low. They assessed relatively high on 24 hours operation of CVS and personal services. Second with respect to the transaction convenience, CVS owners' group rated it as the fourth priority while the consumers' group rated as the second, which requires the improvement. Third in terms of benefit utility and value-added service of post-benefit convenience which are the sub-factors of benefit convenience, the rate on the importance from the consumers showed higher than that from the owners, which requires the improvement. [Implications] Based on this study results, CVS operating companies are anticipated to be able to satisfy the customers, moreover, to secure the loyal customers if they concentrate the resources to develop the differentiation strategy on the areas where the consumers' demands are high while performs the maintenance strategy on the areas where their demands are low. In addition, this study contributed the theoretical expansion of SERVCON upon development of CVS SERVCON to comply with its definition.

A study on Management Strategy of Italian Hotel Restaurant in Korea (국내호텔 이태리식당 경영전략에 대한 연구)

  • 추상용
    • Culinary science and hospitality research
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    • v.6 no.1
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    • pp.57-78
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    • 2000
  • In the 21st century the size of sales of food service business in Korea will be 30 trillion won which means Food service business in Koreas is a mega market, but it is only quantitative growth and might face the limit of growth. At the same time it is predicted that from the academic world Food service business will develop endlessly after IMF condition. Of course I hope so as a member of national. Al though I propose that quantitative side is important, qualitative side must not be disregarded the present and future customer is needs should be met because the 1st goal of company is to achieve a management goal and pursuit profit. The present situation requires a peculiar and specific strategy of its own which can not be followed by competing hotels so that value can be created and buying intention can be occurred after buying. Until now the goal of marketing campaign has been transacted marketing just for closing a transaction, but it must be related marketing which is seeking mutual interests of customer and company. The strategies to attain these goals are : 1) to change from products and service management-focused to customer management and relationship building-focused. 2) to establish a core strategy which needs to be changed from market occupancy of volume expansion to customer occupancy. 3) to change from one-way communication to two-way communication. 4) to change from large scale marketing by company dimension to small scale marketing by sections. If companies focus on core benefit and augmented service to be sought by customers and make every efforts to create a value customer occupancy will increase automatically, the reduction of marketing cost will be followed, and marketing efforts will be much more efficient. In introducing a new product it is still easier to diffuse through the existing customers, and also important market information can be obtained from customers using this close relationship. If this close relationship maintains well customers will say even a trivial inconvenience and complaint and propose an idea of new product. Kotler divides relationship marketing into 5 stages such as Basic, Reactive, Accountable, Proactive, and Partnership. From the 1st stage to the last stage customer management is absolutely important and also in management strategy. The last stage, Partnership can come into the stage which is actively participated in service development and problem solving by customers. so more loyal customers have more successful performance the company attain.

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The effect of creativity, absorptive capacity and strategic orientation on the distribution strategy of foreign market entry : Focused on Game Industry (해외시장 진입전략에서 창의성과 흡수역량, 전략적 지향성이 미치는 효과에 대한 연구: 게임산업을 중심으로)

  • Park, Young-Eun
    • Review of Culture and Economy
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    • v.17 no.2
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    • pp.29-62
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    • 2014
  • Game industry, one of cultural-content industry which is considered as a typical knowledge-based industry and creative industry, is not like the overseas expansion of traditional manufacture, and has different strategy and performance of export expansion through product or project-based strategy. Therefore, it should be approached by each content unit, and necessary to look at the factors that make their decision makings of foreign market entry vary. This study focuses on discovering creativity, absorptive capacity and strategic orientation(market orientation and innovation orientation) which affect the difference of distribution's decision making of entry into foreign market in game industry This paper examined 252 cases of online games in order to investigate creativity, absorptive capacity and strategic orientations for each foreign market and what entry type(among licensing, joint distribution, exclusive distribution) they chose according to the products developed in team level. This helps us analyze the factors affecting market orientation and innovation orientation in the perspectives of creativity and absorptive capacity in comprehensive way, and notice the phenomena which use different foreign distribution strategy though there are company incorporated abroad and their results. This study supplements the limit of the existing Resource-Based View, Resource-Dependent View, and traditional international business theories such as Transaction Cost Theory or OLI Paradigm(Eclectic Framework), and proves how company could reduce asymmetry of uncertainty and information in creative industry and whether they accomplish successful overseas expansion according to strategic orientations.

Drive Characteristics of 2-Stage Commutated SRM with Auxiliary Winding

  • Lee, Dong-Hee;Ahn, Jin-Woo;Oh, Seok-Gyu;Park, Sung-Jun
    • KIEE International Transaction on Electrical Machinery and Energy Conversion Systems
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    • v.11B no.4
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    • pp.175-179
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    • 2001
  • The switched reluctance drive exhibits higher levels of vibration and acoustic noise than that of most competing drives. The main source of vibration in the switched reluctance drive is generated by rapid change of radial force when phase current is extinguished by commutation action. A new excitation strategy for a Switched Reluctance Motor with Auxiliary Winding (SRMAW) is described and tested. This scheme has auxiliary winding with one diode which is sound to all th poles in one winding. In this scheme, auxiliary winding is used to reduce magnetic stress during commutations. The abrupt change of a phase excitation produces mechanical stresses and it results in vibration and noise. The acoustic noise is reduced remarkably through 2-stage commutation. The operational principle and a characteristic comparison to that of the conventional SRM show that this scheme has some advantages including noise reduction as well as high efficiency drive.

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Utility AC Frequency to High Frequency ACPower Conversion Circuit with Soft Switching PWM Strategy

  • Sugimura Hisayuki;Ahmed Nabil A.;Ahmed Tarek;Lee Hyun-Woo;Nakaoka Mutsuo
    • KIEE International Transaction on Electrical Machinery and Energy Conversion Systems
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    • v.5B no.2
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    • pp.181-188
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    • 2005
  • In this paper, a DC smoothing filterless soft switching pulse modulated high frequency AC power conversion circuit connected to utility. frequency AC power source is proposed for consumer induction heating hot water producer, steamer and super heated steamer. The operating principle of DC link filterless utility frequency AC-high frequency AC (HF AC) power conversion circuit defined as high frequency cycloinverter is described, which can operate under a principle of ZVS/AVT and power regulation based on alternate asymmetrical PWM in synchronization with the utility frequency single phase AC positive or negative half wave voltage. The dual mode modulation control scheme based on high frequency PWM and commercial frequency AC voltage PDM for the proposed high frequency cycloinverter are discussed to enlarge its soft switching commutation operating range for wide HF AC power regulation. This high frequency cycloinverter is developed for high frequency IH Dual Packs Heater (DPH) type boiler used in consumer and industrial fluid pipeline systems. Based on the experiment and simulation results, this high frequency cycloinverter is proved to be suitable for the consumer use IH-DPH boiler and hot water producers. The cycloinverter power regulation and power conversion efficiency characteristics are evaluated and discussed.

Applications of Data Mining Techniques to Operations Planning for Real Time Order Confirmation (실시간 주문 확답을 위한 데이터 마이닝 기반 운용 계획 모델)

  • Han Hyun-Soo;Oh Dong-Ha
    • Korean Management Science Review
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    • v.21 no.3
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    • pp.101-113
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    • 2004
  • In the rapidly propagating Internet based electronic transaction environment. the importance of real time order confirmation has been more emphasized, In this paper, using data mining techniques, we develop intelligent operations decision model to allow real time order confirmation at the time the customer places an order with required delivery terms. Among various operation plannings used for order fulfillment. mill routing is the first interface decision point to link the order receiving at the marketing with the production planning for order fulfillment. Though linear programming based mathematical optimization techniques are mostly used for mill routing problems, some early orders should wait until sufficient orders are gathered for optimization. And that could effect longer order fulfillment lead-time, and prevent instant order confirmation of delivery terms. To cope with this problem, we provide the intelligent decision model to allow instant order based mill routing decisions. Data mining techniques of decision trees and neural networks. which are more popular in marketing and financial applications, are used to develop the model. Through diverse computational trials with the industrial data from the steel company. we have reported that the performance of the proposed approach is effective compared to the present heuristic only mill routing results. Various issues of data mining techniques application to the mill routing problems having linear programming characteristics are also discussed.

Customer's Point Accumulation and Redemption Behavior Revisited : Focusing on the Moderating Effects of Usage Level (소비자의 포인트 적립 및 소진행동에 대한 재조명 : 사용수준(Usage Level)의 조절 효과를 중심으로)

  • Kim, Ji Yoon
    • Journal of the Korean Operations Research and Management Science Society
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    • v.38 no.1
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    • pp.183-199
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    • 2013
  • This study investigates customers' different behavior in accumulating and redeeming points and focuses on the moderating effect of usage level. We measure the hedonic accumulation and redemption ratio and usage level using loyalty program transaction data and link them to the survey data of loyalty and satisfaction. By doing so, we examine the effects of hedonic accumulation and redemption ratio on a consumer's loyalty intention and his or her satisfaction and the moderating effect of usage level. The result shows that there is a significant positive effect of hedonic accumulation and redemption ratio on customer loyalty and the mediating role of satisfaction on customer loyalty in both stages. And accumulation and redemption most importantly, we find an interaction effect of usage level on outlet type in point redemption stage while no effect in accumulation stage. That is if customers accumulate and redeem points at a hedonic outlets in both stages, it will give him a feeling of satisfaction and finally it will enhance the loyalty toward the focal loyalty program. And light buyers' loyalty increase more than those of heavy buyers when they redeem points in hedonic outlet. Our findings will help marketing managers of loyalty program to apply the effective segmentation strategy to the reward program which affects the customer's satisfaction and loyalty.