• 제목/요약/키워드: Value-Based Strategy

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시스템 트레이딩에서 진입시점과 델타에 따른 스트래들 매도의 성능 분석 (The Profit Analysis of Straddle Sell by Entry-Time and Delta at System Trading)

  • 고영훈;김윤상
    • 디지털산업정보학회논문지
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    • 제6권1호
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    • pp.151-157
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    • 2010
  • This paper proposes the Pyramid strategy which is based on the straddle sell. The Pyamid strategy has multi-entry features with starting date and delta parameters. And It is hedged against a loss by mutual trades and dynamic ripples. This paper analyzes the profit and MDD(maximum draw down) of the Pyramid strategy on system trading. The portfolio tool is used for the experiment which is one of the Multicharts' package. The Multicharts is a good trading system of recent years. For the experiment, three call options and three put options are used at october in 2009. Two parameters are used which are the starting date from first October to twentieth October in 2009 and delta from eight percent to fifty percent. As a result, the profit of composite option is about 3 million won. If the strategy starts before the beginning of option month, investors feel uncomfortable because of a large MDD. If a delta belows 20%, it shows high profit and the ratio of profit and MDD builds up a low value. However a low delta makes frequent trades and results in a loss unless increasing entry levels which mean more amount of investment. This work provides a safer trade system than native option trades. It is important how much levels of multi-entry are acceptable. And an amount of investment with appropriate levels of multi-entry is a subject of a future study.

지식경영의 성공적인 실행을 위한 전략적 의사결정 프레임워크 구축 (Decision Making Framework for Achieving Successful Knowledge Management)

  • 이영찬;권기택
    • 한국정보시스템학회지:정보시스템연구
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    • 제18권3호
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    • pp.135-154
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    • 2009
  • As the knowledge is recognized as a core factor of organization's competitiveness and creation of value added, the importance of knowledge management is also increased. To achieve the successful knowledge management, it is important to establish strategy that consider essential purpose of knowledge management such as creating and sharing of knowledge resource, improving performance, and continuing organizational innovation within the organization and influence factor inside and outside of organization. Until now, however, the research for knowledge management strategy was mostly limited to the statistical analysis based on the unilinear causality model, and systematic access and analysis that consider interaction and feedback structure between factors. In this paper, we developed the novel decision-making framework for successful strategy establishment by applying the analytic network process(ANP). Specifically. we derive clusters and components to decide the interaction and feedback structure between the elements of knowledge management by literature studies. And we produced relative importance and preference of clusters, components and alternatives dealing with feedback structure through the survey of experts in the field or related one of knowledge management. In result of this study, we expect that it will help the knowledge officer to decide establishing knowledge management strategy.

가격탄력성과 생산비용에 기초한 대량 마케팅과 표적시장 마케팅의 비교 분석 (Comparative Analyses of Mass Marketing and Target Marketing Based on Price Elasticity and Production Cost)

  • 원지성
    • 유통과학연구
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    • 제11권4호
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    • pp.61-72
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    • 2013
  • Purpose - It is widely accepted that the process of developing marketing strategy is composed of three steps: market segmentation, target market selection and positioning. However, mass marketing strategy based on cost reduction through economies of scale and standardized products, can be also an effective strategic option. Many marketing scholars including Theodore Levitt emphasize the importance of applying the mass production concept to various industries including service industries. Especially, in times of economic downturn, the capability of providing consumers with low-priced, value products can be an important source of competitive advantage, as well as the ability of providing high-priced premium products. Marketers should decide whether they will implement mass marketing strategy or target marketing strategy. The present study theoretically shows that firms should understand the target customers' price elasticity as well as the firm's cost structure in order to make such a strategic decision. Research design, data, and methodology - Instead of implementing an empirical study, this study provides a theoretical(mathematical) investigation on the effect of consumers' price elasticity on a firm's optimal price level, profit, sales volume, revenue, and cost. The results are mostly deduced from derivative calculations and several graphs are utilized to represent the results on the relationships between the variables under study. Results - The analytical results suggest that it is more profitable for a firm to adopt the segment/target marketing strategy (more specifically the differentiation strategy) when the degree of consumers' heterogeneity is high and the proportion of the fixed cost in the total cost is low. On the other hand, if the degree of consumers' heterogeneity is low and the fixed cost is high, it is better to adopt the mass marketing strategy or the cost leadership strategy. The strategy of concentrating on a single target market will be effective when consumers' needs are highly heterogeneous but the fixed cost is high. Any of the three types of generic strategies proposed my Porter(1980, 1985) can be applied when both the consumers' heterogeneity and the fixed cost are low. This study also proposes the contribution-margin-based method for developing the optimal pricing strategy. Conclusions - One of the primary roles of marketers is to find a proper compromise between the two conflicting goals of maximizing customer satisfaction and minimizing cost. In order to do so, he or she should understand the characteristics of the target customers as well as the cost structure of the firm. In addition to the theoretical analyses, this study discusses several business cases and explains how superior companies find the optimal compromise position between these two goals and dominate the market. One of the radical changes recently taking place in business arena is the reduction of production and distribution costs of both physical goods and information due to the advancement and the wide diffusion of information technology. The cost reduction combined with lowered priced elasticity incurred by customized products and services, will enable many firms to adopt the mass customization strategy.

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소셜커머스의 경제적 가치와 정보품질이 재구매의도에 미치는 영향 : 동기이론을 기반으로 (Influence of Economic Value and Information Quality on Repurchase Intention in Social Commerce based on Motivation Theory)

  • 강주희;문태수
    • 한국정보시스템학회지:정보시스템연구
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    • 제26권2호
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    • pp.63-83
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    • 2017
  • Purpose: In Korea, market size of social commerce has been increased steadily and highly, but profits of social commerce companies have been decreased because of excessive marketing cost. To overcome this stagnant market environment, new marketing strategy that could attract customers and make customers continue to use social commerce is required instead of cost consuming marketing strategy. The purpose of this study is to investigate the relationship among characteristics of social commerce - that is, economic value and information quality - usefulness, enjoyment, satisfaction and repurchase intention by applying motivation theory to the area of social commerce. Design/Methodology/Approach: Previous researches have been studied by applying Expectation-Confirmation Model (ECM), Theory of Planned Behavior (TPB), Technology Acceptance Model (TAM) and Stimulus-Organism-Response (S-O-R) Model, although there are many studies related with customer acceptance model in the field of e-commerce. However, there is not so many studies in applying motivation theory. So this study adopts new approach to examine why customers use social commerce based on motivation theory. Thus, this study adopts economic value and information quality as antecedents, and then customers will perceive extrinsic and intrinsic motivation; usefulness is extrinsic and enjoyment is intrinsic, and adopts satisfaction and repurchase intention as a dependent variable. The data of questionnaire were collected from customers who have experience to buy something in social commerce. 228 questionnaires as data unit of individual level were collected using random sampling. Findings: This study proved empirically that the relationship between antecedents and motivation factors has a positive influence, and motivation factors also have a positive influence on repurchase intention through satisfaction. This study provides the managers an insight that social commerce companies should pay more attention to improve customer satisfaction in order to increase higher performance in repurchase intention of social commerce.

제품구조와 생산기술간의 적합성에 관한 실증적 연구 - 우리나라 전기 . 전자산업을 중심으로 - (An Empirical Study on the Fitness between Manufacturing Technology Strategy and product Structure - Based on Korean Electric and Electronic Industry -)

  • 이경환;임재화
    • 기술경영경제학회:학술대회논문집
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    • 기술경영경제학회 1992년도 제2회 학술발표회
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    • pp.119-155
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    • 1992
  • Traditionally, the target of manufaturing technology strategy was derived in a efficiency, cost and productivity. So most activities of the manufacturing brought focus into the engineering technology, equipments and research and improvement of new products to maximize the efficiency. As a resell of this legacy, most of the activities of manufacturing has been executed on the method of quality improvement, development of new equipment to incense the efficiency and the research of materials for new products. Those trends, however overlook the operation management activities which is very important as a assets in competitive strategy. But the market enviornment of morden manufacturing companies faced to the uncertainty and complexity. So they need capability of competition which requires new concept of manufacturing technology strategy to grasp the competitive advantages. In this point of view, this paper deal with the empirical study in korean manufacturing technology strategy of the electic and electronic industry. For the empirical study, check list was made to survey the 98 manufacturing companies. The analysis procedures are as below. First, identify the manufacturing technology group an product structure group by each variable. Second manufacturing technology variables are segmented into product technology and vertical integration, suborder and infrastructure, to analyse the decision making pattern which derive the strategy groups. Third, by the fitness analysis between product structure group and manufacturing technology group, the economic results of a growth rate of sale and a profit rate of sale are tested. In this approach, fitness analysis between product structure group and manufacturing technology group show, as a whole, the no significant values in economic results of the company. But investigating the statistical values shows the trend that econmic result of the complany is somewhat higher when the degree of fitness of manufacturing technology strategy by product structure has high value. Concluding the remarks, the competitive advantages of company lies not in the efficiency of manufacturing systems but in the way of the structure and decision making pattern of the manufacturing system. And the cons i stoney between strategy target and manufacturing technology strategy, and the consistency of manufacturing technology strategy and product structure are the term of competitive advantages.

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장소가치 개념에서의 플레이스 브랜딩 평가 방안 (Research on Place Branding Evaluation based on Place Value)

  • 어정연
    • 한국콘텐츠학회논문지
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    • 제13권5호
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    • pp.199-209
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    • 2013
  • 플레이스는 단순한 물리적 공간보다는 확장된 의미이다. 따라서 장소를 대상으로 하는 모든 활동들은 이와 같이 다양한 관계 구조를 지닌 장소의 특성을 이해하고 핵심적으로 반영해야 한다. 최근에 주목받고 있는 플레이스 브랜딩도 예외는 아니다. 본 연구는 플레이스 브랜딩을 장소와 가치라는 차원에서 재검토하고, 이를 통하여 보다 체계적이고 구체적인 평가체계를 구축하고자 한다. 새로운 평가체계의 구축은 다음과 같은 문제 제기를 통해 얻고자 하는 목적을 충족하기 위함이다. 본 연구는 장소가치를 중심으로 하는 플레이스 브랜딩을 새롭게 정의하여 플레이스 브랜딩 시스템의 정확성과 보편성을 확보하고자 한다. 이를 통하여 작게는 역동적인 플레이스 브랜딩 활동에 일익하고, 크게는 도시디자인 관련 평가 모델로 활용될 수 있도록 한다는 점에서 연구의 의의가 있다.

IoT기반 헬스케어 사용자 경험가치가 사용량과 지속적 사용의도에 미치는 영향에 관한연구 -중국내 샤오미 미밴드 사용자를 중심으로- (The influence of the IoT based healthcare user's experience value on the usage and continuous use intention -Focused on Xiaomi Mi band user in china-)

  • 상맹;신용호;이철우
    • 품질경영학회지
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    • 제44권3호
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    • pp.689-706
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    • 2016
  • Purpose: This study identifies causality in IoT-based healthcare user's experience(playful experience, economical experience), trust, usage, degree of dependence and continuous use intention, especially focused on chinese case. Methods: Face to face interviews was conducted for people who has experience in the use of the Xiaomi Mi band. This study used Partial Least Square(PLS) method with the questionnaires from the interview. Results: IoT-based healthcare users taking playful experience have a strong trust in a positive economic experiences. Also, the user recognizing the experience as an economic one shows stronger intention to use continuously. Conclusion: By getting healthcare users have more economic experience, they have continuous use intention of healthcare product. The empirical findings can be applied to the related companies strategy building.

건설 업체의 브랜드아파트 마케팅 전략 방안 (A Marketing Strategy for Brandapartment of Construction Companies)

  • 이상범;조영준;임남기
    • 한국건축시공학회지
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    • 제4권3호
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    • pp.153-159
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    • 2004
  • The brand value of apartment which affects not only sale percent and profit but also the worth of real estate is raised as an important point of sale competition in the apartment market. But now the market is occupied by a few construction companies, which have well recognized brand. So it's difficult for a construction company without brand to enter the apartment market because of consumer's ignorance. domestic construction companies are spending lots of money and effort to advertise their characteristic brandapartment based on classified consumer's desire and offer consumers what they want. Therefor, This study investigated the factors of recently characteristic brandapartment focusing on design, environment, materials, home automation and surveyed residents preference of a brand by P.O.E methods. Based on such results of survey, this study suggest the basically reference information on characteristic strategy of an brandapartment.

진화 연산을 이용한 실시간 자기동조 학습제어 (The Real-time Self-tuning Learning Control based on Evolutionary Computation)

  • 장성욱;이진걸
    • 대한기계학회:학술대회논문집
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    • 대한기계학회 2001년도 춘계학술대회논문집B
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    • pp.105-109
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    • 2001
  • This paper discuss the real-time self-tuning learning control based on evolutionary computation, which proves its the superiority in the finding of the optimal solution at the off-line learning method. The individuals are reduced in order to learn the evolutionary strategy in real-time, and new method that guarantee the convergence of evolutionary mutations are proposed. It possible to control the control object varied as time changes. As the state value of the control object is generated, applied evolutionary strategy each sampling time because the learning process of an estimation, selection, mutation in real-time. These algorithms can be applied, the people who do not have knowledge about the technical tuning of dynamic systems could design the controller or problems in which the characteristics of the system dynamics are slightly varied as time changes.

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실시간 적응 학습 진화 알고리듬을 이용한 자기 동조 PID 제어 (The Self-tuning PID Control Based on Real-time Adaptive Learning Evolutionary Algorithm)

  • 장성욱;이진걸
    • 대한기계학회논문집A
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    • 제27권9호
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    • pp.1463-1468
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    • 2003
  • This paper presented the real-time self-tuning learning control based on evolutionary computation, which proves its superiority in finding of the optimal solution at the off-line learning method. The individuals of the populations are reduced in order to learn the evolutionary strategy in real-time, and new method that guarantee the convergence of evolutionary mutations is proposed. It is possible to control the control object slightly varied as time changes. As the state value of the control object is generated, evolutionary strategy is applied each sampling time because the learning process of an estimation, selection, mutation is done in real-time. These algorithms can be applied; the people who do not have knowledge about the technical tuning of dynamic systems could design the controller or problems in which the characteristics of the system dynamics are slightly varied as time changes.