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A Study on the Born Global Venture Corporation's Characteristics and Performance ('본글로벌(born global)전략'을 추구하는 벤처기업의 특성과 성과에 관한 연구)

  • Kim, Hyung-Jun;Jung, Duk-Hwa
    • Journal of Global Scholars of Marketing Science
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    • v.17 no.3
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    • pp.39-59
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    • 2007
  • The international involvement of a firm has been described as a gradual development process "a process in which the enterprise gradually increases its international involvement in many studies. This process evolves in the interplay between the development of knowledge about foreign markets and operations on one hand and increasing commitment of resources to foreign markets on the other." On the basis of Uppsala internationalization model, many studies strengthen strong theoretical and empirical support. According to the predictions of the classic stages theory, the internationalization process of firms have been recognized and characterized gradual evolution to foreign markets, so called stage theory: indirect & direct export, strategic alliance and foreign direct investment. However, termed "international new ventures" (McDougall, Shane, and Oviatt 1994), "born globals" (Knight 1997; Knight and Cavusgil 1996; Madsen and Servais 1997), "instant internationals" (Preece, Miles, and Baetz 1999), or "global startups" (Oviatt and McDougall 1994) have been used and come into spotlight in internationalization study of technology intensity venture companies. Recent researches focused on venture company have suggested the phenomenons of 'born global' firms as a contradiction to the stages theory. Especially the article by Oviatt and McDougall threw the spotlight on international entrepreneurs, on international new ventures, and on their importance in the globalising world economy. Since venture companies have, by definition. lack of economies of scale, lack of resources (financial and knowledge), and aversion to risk taking, they have a difficulty in expanding their market to abroad and pursue internalization gradually and step by step. However many venture companies have pursued 'Born Global Strategy', which is different from process strategy, because corporate's environment has been rapidly changing to globalization. The existing studies investigate that (1) why the ventures enter into overseas market in those early stage, even in infancy, (2) what make the different international strategy among ventures and the born global strategy is better to the infant ventures. However, as for venture's performance(growth and profitability), the existing results do not correspond each other. They also, don't include marketing strategy (differentiation, low price, market breadth and market pioneer) that is important factors in studying of BGV's performance. In this paper I aim to delineate the appearance of international new ventures and the phenomenons of venture companies' internationalization strategy. In order to verify research problems, I develop a resource-based model and marketing strategies for analyzing the effects of the born global venture firms. In this paper, I suggested 3 research problems. First, do the korean venture companies take some advantages in the aspects of corporate's performances (growth, profitability and overall market performances) when they pursue internationalization from inception? Second, do the korean BGV have firm specific assets (foreign experiences, foreign orientation, organizational absorptive capacity)? Third, What are the marketing strategies of korean BGV and is it different from others? Under these problems, I test then (1) whether the BGV that a firm started its internationalization activity almost from inception, has more intangible resources(foreign experience of corporate members, foreign orientation, technological competences and absorptive capacity) than any other venture firms(Non_BGV) and (2) also whether the BGV's marketing strategies-differentiation, low price, market diversification and preemption strategy are different from Non_BGV. Above all, the main purpose of this research is that results achieved by BGV are indeed better than those obtained by Non_BGV firms with respect to firm's growth rate and efficiency. To do this research, I surveyed venture companies located in Seoul and Deajeon in Korea during November to December, 2005. I gather the data from 200 venture companies and then selected 84 samples, which have been founded during 1999${\sim}$2000. To compare BGV's characteristics with those of Non_BGV, I also had to classify BGV by export intensity over 50% among five or six aged venture firms. Many other researches tried to classify BGV and Non_BGV, but there were various criterion as many as researchers studied on this topic. Some of them use time gap, which is time difference of establishment and it's first internationalization experience and others use export intensity, ration of export sales amount divided by total sales amount. Although using a mixed criterion of prior research in my case, I do think this kinds of criterion is subjective and arbitrary rather than objective, so I do mention my research has some critical limitation in the classification of BGV and Non_BGV. The first purpose of research is the test of difference of performance between BGV and Non_BGV. As a result of t-test, the research show that there are statistically efficient difference not only in the growth rate (sales growth rate compared to competitors and 3 years averaged sales growth rate) but also in general market performance of BGV. But in case of profitability performance, the hypothesis that is BGV is more profit (return on investment(ROI) compared to competitors and 3 years averaged ROI) than Non-BGV was not supported. From these results, this paper concludes that BGV grows rapidly and gets a high market performance (in aspect of market share and customer loyalty) but there is no profitability difference between BGV and Non_BGV. The second result is that BGV have more absorptive capacity especially, knowledge competence, and entrepreneur's international experience than Non_BGV. And this paper also found BGV search for product differentiation, exemption strategy and market diversification strategy while Non_BGV search for low price strategy. These results have never been dealt with other existing studies. This research has some limitations. First limitation is concerned about the definition of BGV, as I mentioned above. Conceptually speaking, BGV is defined as company pursue internationalization from inception, but in empirical study, it's very difficult to classify between BGV and Non_BGV. I tried to classify on the basis of time difference and export intensity, this criterions are so subjective and arbitrary that the results are not robust if the criterion were changed. Second limitation is concerned about sample used in this research. I surveyed venture companies just located in Seoul and Daejeon and also use only 84 samples which more or less provoke sample bias problem and generalization of results. I think the more following studies that focus on ventures located in other region, the better to verify the results of this paper.

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Laying the Siting of High-Level Radioactive Waste in Public Opinion (고준위 방폐장 입지 선정의 공론화 기초 연구)

  • Lee, Soo-Jang
    • Journal of Environmental Policy
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    • v.7 no.4
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    • pp.105-134
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    • 2008
  • Local opposition and protest constitute single greatest hurdle to the siting of locally unwanted land uses(LULUs), especially siting of high-level radioactive disposal not only throughout Korea but also throughout the industrialized world. It can be attributed mainly to the NIMBYism, equity problem, and lack of participation. These problems are arisen from rational planning process which emphasizes instrumental rationality. But planning is a value-laden political activity, in which substantive rationality is central. To achieve this goals, we need a sound planning process for siting LULUs, which should improve the ability of citizens to influence the decisions that affects them. By a sound planning process, we mean one that is open to citizen input and contains accurate and complete information. In other word, the public is also part of the goal setting process and, as the information and analyses developed by the planners are evaluated by the public, strategies for solutions can be developed through consensus-building. This method is called as a co-operative siting process, and must be structured in order to arrive at publicly acceptable decisions. The followings are decided by consensus-building method. 1. Negotiation will be held? 2. What is the benefits and risks of negotiation? 3. What are solutions when collisions between national interests and local ones come into? 4. What are the agendas? 5. What is the community' role in site selection? 6. Are there incentives to negotiation. 7. Who are the parties to the negotiation? 8. Who will represent the community? 9. What groundwork of negotiation is set up? 10. How do we assure that the community access to information and expert? 11. What happens if negotiation is failed? 12. Is it necessary to trust each other in negotiations? 13. Is a mediator needed in negotiations?

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A Study on the storytelling strategy of Animation Studio using Mythology - Based on the comparative analysis of Disney and Dream Works (신화를 활용한 애니메이션 스튜디오의 스토리텔링 전략 -디즈니<미녀와 야수>와 드림웍스<슈렉>의 비교분석을 중심으로)

  • Lee, Hye-Won
    • Cartoon and Animation Studies
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    • s.49
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    • pp.25-52
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    • 2017
  • As the expansion of the cultural industry expands, various competitive structures are formed and the methodologies for producing commercial success are being discussed. Among them, Hollywood studios use political relationships and apply ideologies that can produce the best interests. Also, they use a structure that can convey this ideology, which is a mythology. The myth has satisfied the public for a ling time. Campbell suggested that strategies come from the myth, and the ideology emerged as a result of what mythology has to do with existing powers. Disney and Dream Works use the mythology and combine their own values into ideology. Disney and Dream Works choose conflicting ideologies in a different growth background. If Disney is recognized as an educational animation by the ruling class, Dream Works are supported by the public for their actions against Disney. Disney has conservative and patriotic personality, Dream Works is more liberal and progressive. Disney's structure came out first, and Dream Works parodied it. So we can compare Disney and Dream Works with similar myths to create a storytelling structure that embodies ideology. As a result, Disney and Dream Works have been choosing the 9 stages the key of Ideology form the 17 stages of the mythology and reduced them to the introduction, growth and completion. In the first units of the introduction, Disney dealt with the subject of social leaders who sacrificed to the ruling class and Dream Works hinted at the overthrow of the ruling class through the irony. If Disney had deployed colored races in the main characters, Dream Works used a variety of races from the main characters to others. In the second units of growth, Disney organized the process of accepting the value of the ruling class, and Dream Works showed the individual values, not the values of society. In the third units completion, Disney showed the main character who live in the world of the ruling class rebuilded, and Dream Works removed the ruling class and went back to the Individual life. Through the structure of Disney and DreamWorks, we learned how to utilize the mythical structures that transform according to ideologies. The right way to organize works will require the strategic approach to storytelling.

A Pilot Study on Applying Text Mining Tools to Analyzing Steel Industry Trends : A Case Study of the Steel Industry for the Company "P" (철강산업 트렌드 분석을 위한 텍스트 마이닝 도입 연구 : P사(社) 사례를 중심으로)

  • Min, Ki Young;Kim, Hoon Tae;Ji, Yong Gu
    • The Journal of Society for e-Business Studies
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    • v.19 no.3
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    • pp.51-64
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    • 2014
  • It becomes more and more important for business survival to have the ability to predict the future with uncertainties increasing faster and faster. To predict the future, text mining tools are one of the main candidate other than traditional quantitative analyses, but those efforts are still at their infancy. This paper is to introduce one of those efforts using the case of company "P" in the steel industry. Even with only four month pilot studies, we found strong possibilities, if not testified robustly, to predict future industrial trends using text mining tools. For these text mining case studies, we categorized steel industry trend keywords into ten components (10 categories) to study ten different subjects for each category. Once found any meaningful changes in a trend, we had investigated in more detail what and how some trend happened so. To be more roust, firstly we need to define more cleary the purpose of text mining analyses. Then we need to categorize industry trend key words in a more systematic way using systems thinking models. With these improvements, we are quite sure that applying text mining tools to analyzing industry trends will contribute to predicting the future industry trends as well as to identifying the unseen trends otherwise.

A Case Study on the Documentation in a Disaster Area - On the Basis of Great Hanshin-Awaji Earthquake - (재해 지역의 기록화 사례 연구 - 한신·아와지 대지진 기록관리 사례를 중심으로 -)

  • Lee, Mi-young
    • The Korean Journal of Archival Studies
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    • no.21
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    • pp.85-116
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    • 2009
  • Records are the social memory storage including collective memory about region, it is impossible to put into and represent all aspects of society with only public records. Japan showed the possibilities of cooperative collecting and the positive records producing and collecting efforts between organizations, even if it was not accomplished by systemic documentation strategy. Some characteristics were found out when this case was reviewed, it is as follows. To begin with, it is the cooperation and share in collecting. Especially, the activities of private organizations look better than public organizations and the cooperative collecting efforts lead to transmit much more social memory and historical records to next generation. Secondly, it is the positive records producing and collecting. The private organizations also left many records of various activities of those one accord. They recognized that recording experience and leaving behind is the survivors' responsibility. We cannot help recognizing the growth of a sense of duty and historical consciousness to record their own experience with undergoing big disaster, earthquake. Thirdly, there was no limit when it comes to the collecting scope. All records related with people and place in disaster area were the target for collecting just like slogan, 'Let's transmit records to next generation as much as possible', 'Common records and resources deserve leaving, because it is important life's information proving situations of the time. We were able to confirm the high will and enthusiasm about 'how, what and why do we transmit something of society to next generation' in this case.

Effect of the Bonus-Malus Policy upon Car Market Structure (자동차 시장구조에 따른 저탄소차협력금제도의 효과 변화)

  • Yi, Woo Pyeong
    • Journal of Environmental Policy
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    • v.14 no.4
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    • pp.23-44
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    • 2015
  • The policy aimed at introducing a Bonus-Malus system to reduce GHG and raise the market share of small cars is scheduled to go into effect in South Korea in 2020. Although the policy was originally planned to be enforced from 2015, the Ministry of Trade, Industry and Energy argued that the system brings low reduction effect and relative disadvantage to domestic small cars and brought arguments in 2014. As a result, the enforcement was pushed back. Related studies are mainly focused on offering statistical estimation of the policy's effect to support the arguments, and few theoretical studies were published given that there was not enough time until 2015 back then. The author approached the issue with mathematical modeling in order to give theoretical basis for sophisticated empirical studies. If car suppliers have market power and strategically set their prices, the impact of Bouns-Malus on car prices would be lower than what was originally intended. In case only a part of the car market loses its market power, the effect of the policy would be improved. Assume that the Bonus-Malus is currently at an optimal level and the car market structure is undergoing changes, then the direction of the new optimal level would depend on the elasticity of demand of each market and substitute elasticity. For example, if the car market becomes more monopolistic while the demand for big cars is elastic, demand for small cars is inelastic and substitution elasticity is low, then the new optimal level of Bonus-Malus should be higher.

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Winning Coalition, Expansion of Wealth, and Naval Power (승자연합과 부(富)의 확장, 그리고 해군력)

  • Park, Ju-Hyeon
    • Strategy21
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    • s.41
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    • pp.174-207
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    • 2017
  • Human history shows diverse strategies for survival and prosperity. This study introduces the concept of the expansion of wealth as a key to explain choice and behavior of political entities. American scholar, -Bruce Bueno de Mesquita-, offers theoretical grounds for this concept in that the cores of selectorate theory is settled. The political entity consists of two groups, -the winning coalition that has power to replace leader and non-winning coalition that has not. Leaders implement policies serving for the welfare of winning coalition in return for their loyalty. Both internal problems caused by demographic changes and external ones of climate changes, epidemic disease, or invasion compel leader and winning coalition to adopt policies of expansion that they believe may lead to the acquisition of wealth needed to counter those problems. The process starts by occupying one spot where other entities reside and then connecting it to its own. The line between spots functions as a foothold to form a new line to other spots. By repeating this process, a space is created in which new laws and orders are instated. In the early stage of expansion, war is hardly avoidable. Once finished successfully, the political circumstance tilts to encourage economic activities in order to generate national revenues to strengthen political power of winning coalition. However, as scale of economic activities grows, so does political power of civic classes in production and trade. To gain financial support required to run the political entity, delegation of power or bestowing autonomy to non-winning coalition is inevitable. Thus, expansion is not the ultimate solution, only to prolong the political survival if succeed. Maritime power came to attractive option when overland expansion had become obstructed. It offered much greater advantages in terms of political risks and financial burdens in exploring new regions of precious commodities than overland expansion. Each political entity around world have been, for the first time in human history, connected by maritime means since 15th century. It is worthy of noting that land conditions propelled people out to sea. Political and economic situations created opportunities to exploit geographical position in pursuit of wealth. In the 21st century, we witness the operation of international winning coalition that presides over the rules of expansion. Competing for market is synonymous to the expansion in this era, the cause and aim of it has not been changed though. Energy and dollars are key factors of expansion since the end of the 2nd world war. No matter what the forms and conditions change, naval power is still the most relevant means for expansion as it retains unique characters of maneuver, flexibility, continuity, display and projection of power. The strategy for using naval power should be in line with two different approaches for expansion: Approaches to the international winning coalition by making contribution to world order, and approaches to the non-international winning coalition by enhancing military diplomatic activities. The former will serve our share of winning coalition while the latter will open chances to acquire further prosperity.

Establishment Method of the Regulatory Framework for Communications Reflecting the Ecosystem Elements (생태계 요소를 반영한 방송통신 규제체계의 정립 방안)

  • Hong, Dae-Sik;Choe, Dong-Uk
    • Journal of Legislation Research
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    • no.41
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    • pp.401-434
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    • 2011
  • The discussion on the adoption of the horizontal regulatory framework is underway to overcome the problems regarding the vertical regulatory framework resulting from a convergence of broadcasting and telecommunications services. Recently, however, the horizontal regulatory framework shows its limitation to regulate the ecosystem established mainly by Google and Apple. The existing horizontal regulatory framework does not fully reflect the characteristics of the two-sided market and the change in the competition structure in the broadcasting and telecommunications sector. What is important to note is that if the existing horizontal regulatory framework is simply applied to the ecosystem, a regulatory imbalance can be caused among ecosystems. The existing horizontal regulatory framework, which is subject to a value chain structure, categorizes business entities into either contents layer or transmission layer and applies the same regulation to all business entities in the same category. However, in the ecosystem, a keystone-player can be categorized into different layers depending on its strategy. Therefore, if the existing horizontal regulatory framework is applied as it is, the regulatory imbalance between keystone-players located in less regulated areas and keystone-players located in more regulated areas occurs resulting in a distortion of competition. There are two possible ways to establish a new regulatory framework to prevent the distortion of competition likely to be caused by the adoption of a horizontal regulatory system. First, a new ecosystem regulatory framework different from the existing one can be established. Second, the horizontal regulatory framework can be modified to reflect the ecosystem elements. The first approach is hard to adopt given the current situation as the approach requires the analysis of all broadcasting and telecommunications ecosystems including mobile and wired services; currently research and study on the competition conditions in the ecosystems is not enough. Therefore, this paper supports the second approach proposing a modified horizontal regulatory framework through the improvement of institutions and remedies suitable for accommodating the ecosystem elements. This paper intends to propose a way to regulate broadcasting and telecommunications ecosystems taking into consideration the ecosystem elements on top of the Telecommunications Business Act, Broadcasting Act, IPTV Act, the competition condition evaluation system of the Basic Act on Broadcasting and Telecommunications Development, and regulation on common carriers under the Telecommunications Business Act.

Permanent Preservation and Use of Historical Archives : Preservation Issues Digitization of Historical Collection (역사기록물(Archives)의 항구적인 보존화 이용 : 보존전략과 디지털정보화)

  • Lee, Sang-min
    • The Korean Journal of Archival Studies
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    • no.1
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    • pp.23-76
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    • 2000
  • In this paper, I examined what have been researched and determined about preservation strategy and selection of preservation media in the western archival community. Archivists have primarily been concerned with 'preservation' and 'use' of archival materials worth of being preserved permanently. In the new information era, preservation and use of archival materials were faced with new challenge. Life expectancy of paper records was shortened due to acidification and brittleness of the modem papers. Also emergence of information technology affects the traditional way of preservation and use of archival materials. User expectations are becoming so high technology-oriented and so complicated as to make archivists act like information managers using computer technology rather than traditional archival handicraft. Preservation strategy plays an important role in archival management as well as information management. For a cost-effective management of archives and archival institutions, preservation strategy is a must. The preservation strategy encompasses all aspects of archival preservation process and practices, from selection of archives, appraisal, inventorying, arrangement, description, conservation, microfilming or digitization, archival buildings, and access service. Those archival functions should be considered in their relations to each other to ensure proper preservation of archival materials. In the integrated preservation strategy, 'preservation' and 'use' should be combined and fulfilled without sacrificing the other. Preservation strategy planning is essential to determine the policies of archives to preserve their holdings safe and provide people with a maximum access in most effective ways. Preservation microfilming is to ensure permanent preservation of information held in important archival materials. To do this, a detailed standardization has been developed to guarantee the permanence of microfilm as well as its product quality. Silver gelatin film can last up to 500 years in the optimum storage environment and the most viable option for permanent preservation media. ISO and ANIS developed such standards for the quality of microfilms and microfilming technology. Preservation microfilming guidelines was also developed to ensure effective archival management and picture quality of microfilms. It is essential to assess the need of preservation microfilming. Limit in resources always put a restraint on preservation management. Appraisal (and selection) of what to be preserved was the most important part of preservation microfilming. In addition, microfilms with standard quality can be scanned to produce quality digital images for instant use through internet. As information technology develops, archivists began to utilize information technology to make preservation easier and more economical, and to promote use of archival materials through computer communication network. Digitization was introduced to provide easy and universal access to unique archives, and its large capacity of preserving archival data seems very promising. However, digitization, i.e., transferring images of records to electronic codes, still, needs to be standardized. Digitized data are electronic records, and st present electronic records are very unstable and not to be preserved permanently. Digital media including optical disks materials have not been proved as reliable media for permanent preservation. Due to their chemical coating and physical character using light, they are not stable and can be preserved at best 100 years in the optimum storage environment. Most CD-R can last only 20 years. Furthermore, obsolescence of hardware and software makes hard to reproduce digital images made from earlier versions. Even if when reformatting is possible, the cost of refreshing or upgrading of digital images is very expensive and the very process has to be done at least every five to ten years. No standard for this obsolescence of hardware and software has come into being yet. In short, digital permanence is not a fact, but remains to be uncertain possibility. Archivists must consider in their preservation planning both risk of introducing new technology and promising possibility of new technology at the same time. In planning digitization of historical materials, archivists should incorporate planning for maintaining digitized images and reformatting them in the coming generations of new applications. Without the comprehensive planning, future use of the expensive digital images will become unavailable. And that is a loss of information, and a final failure of both 'preservation' and 'use' of archival materials. As peter Adelstein said, it is wise to be conservative when considerations of conservations are involved.

The Relationships among Perceived Value, Use-Diffusion, Loyalty of Mobile Instant Messaging Service (모바일 메신저 서비스의 지각된 가치, 사용-확산 그리고 충성도 간의 관계에 대한 연구)

  • Jo, Dong-Hyuk;Park, Jong-Woo;Chun, Hyun-Jae
    • Journal of Intelligence and Information Systems
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    • v.17 no.4
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    • pp.193-212
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    • 2011
  • Mobile instant messaging service is surfacing to an important keyword in the mobile market together with popularization of Smart phones. Mobile instant messaging service in Korea has become popular to the degree of 87.9% usages from total Smartphone holders, and it is expected that using populations will be more enlarged afterwards if considering a fact that its populations of Smartphone is continuously being increased after exceeding 10 million persons (Trend Monitor, June 2011). In the instant messaging market where competitions have been deepened day by day, raising customer's royalties will be the key for company's business survivals and goals of corporate marketing strategies. It could be said that understanding on which factors affect to customer retentions and royalties is very important. Specially, as changing status is being progressed very quickly in case of innovative mobile services like the instant messaging service, research necessities on how many do consumers use the services after accepting them, how much do consumers use them variously, and whether does it connect to long-term relations have been increased, but studies on such matters are in insufficient situations actually. Therefore, this study examined on which effects were affected to use-diffusion and loyalty factors from perceived customer vales' factors having been occurred after accepting the mobile instant messaging service, namely 'functional value', 'monetary value', 'emotional value', and 'social value'. Also, the study looked into what kind of roles do the service usage and using variety play to service's continued using intents as a loyalty index, recommending intents to others, and brand switching intents. And then the study laid the main purpose in trying to provide implications for enhancing customer securities and royalties on the mobile instant messaging service through research's results. The research hypotheses are as follows; H1: Perceived values will affect influences to royalties. H2: Use-Diffusion will affect influences to loyalty. H3: Perceived value will affect influences to loyalty. H4: The use-diffusion will play intermediating roles between perceived values and loyalty. Total 276 cases among collected 284 ones were used for the statistical analysis by SPSS ver. 15 package. Reliability, Factor analysis, regression were done. As the result of research, 'monetary value' and 'emotional value' affected to 'usage' among perceived value factors, and 'emotional value' was appeared as affecting the largest influence. Besides, the usage affected to constant-using intents and recommending intents to others, and using varieties were displayed as affecting to recommending intents to others. On the other hand, 'Using' and 'Using diversity' were appeared as not affecting to 'brand switching intentions'. Meanwhile, as the result of recognizing about effects of perceived values on the loyalty, it was appeared such like 'continued using intents' affected to'functional value', 'monetary value', and 'social value' first, and also 'monetary value', 'emotional value', and 'social value' affected to 'recommending intents to others'. On the other hand, it was shown such like only 'social value' affected influences to 'brand switching intents', and thus contrary results with the factor 'constant-using intents' were displayed. So, it seems that there are many applications to service provides who are worrying about marketing strategies for making consumer retains (constant-using) and new consumer's inductions (brand-switching intents). Finally, as a result of looking into intermediating roles of the use-diffusion factor in relations between conceived values and royalties at hypothesis 4, 'using' and 'using diversity' were displayed as affecting significant influences all together. Regarding to research result's implications, for expanding and promoting continued uses of the mobile instant messaging service by service providers: First, encouraging recognitions on the perceived value connected to users' service usage are necessary. Second, setting up user's use-diffusion strategies are required so as to enhance the loyalty after understanding a fact that use-diffusion patterns affecting to the service's loyalty are different. Finally, methods of raising customer loyalties and making constant relationships have to be grouped by analyzing on what are the customer value's factors that can satisfy users in competitive alterations.