• Korean Management Science Review
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• v.32 no.3
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• pp.55-70
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• 2015

The main objective of this study is to investigate the moderating roles of the competitor's pricing strategy and the degree of consumer's risk-aversion on perceived risk and perceived benefit in responding to price increases and package downsizing. Based on Prospect Theory, several prior researches find that consumers perceive increased price as more loss than package downsizing and perceive package downsizing as more benefit than increased price. We extend these behavioral economics approach using the reference effect of competitor's pricing strategy. We focus on consumer heterogeneity on risk-aversion, measure the degree of consumer's risk-aversion, and divide the consumers into two groups of high levels of risk-aversion vs. low levels of risk-aversion. We find that the firm's pricing strategies of both price increases and package downsizing do not significantly influence the perceived benefit for relatively low risk-aversion consumers. We find that when the firm reduce the package size, relatively high risk-aversion consumers perceived more benefit and had higher purchase intention compared to price increases. We also find that the competitor's pricing strategies do not significantly influence the consumer's response for relatively low risk-aversion consumers. For relatively high risk-aversion consumers, they perceived more loss when the firm has different pricing strategy from the competitor's.

• Journal of Distribution Science
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• v.17 no.12
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• pp.55-62
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• 2019

Purpose: The number intelligent homecare products are focused on the development of technology, resulting in a lack of realistic environments or requirements for consumers. The purpose of this paper is to define the consumer and context for intelligent homecare products and to develop a usability evaluation scale. Research design, data and methodology: For this study, first, consumer and contexts related to intelligent homecare products were analyzed through literature review. Second, the primary usability evaluation factors were derived for intelligent homecare products by collecting the factors related to usability evaluation and conducting in-depth interviews with experts. Third, the second usability evaluation factors were derived through survey and statistical analysis based on the derived usability evaluation factors. Results: As a result, users of intelligent homecare products were classified as primary users and secondary consumers and six related contexts. The usability evaluation scale was established with four factors - Functionality, Error, Convenience, and Emotion - and 13 items. Conclusions: This study can be the basis for developing and distributing products that meet the consumer environment and requirements related to intelligent homecare products that will contribute to securing the competitiveness of companies and developing the technology and service value of related industries.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.61
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• pp.139-163
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• 2014

Recently with making of 'The Consumer Insurance (Disclosure and Representations) Act 2012(hereunder CIA)', the UK revised the duty of disclosure especially with the consumer insurance contract. According to the CIA, if the misrepresentation was careless, the insurer may have the three options based upon what the insurer would have done had the consumer taken care to answer the question accurately; a compensatory remedy, avoidance of the insurance contract or, amendment of the contract. I realized that the establishment of CIA has been exposed to pro-actively relieve the breach of Warranty and Disclosure, Representations as far as required by the Global Insurance market. It was found that it is expected to bring significant changes in UK Insurance Act system of the 21st century, and prepares competition from neighboring countries. On the other hand, in the common law system, countries under MIA(1906) are trying to address the breach of warranty and Disclosure, Representations, except the UK cannot completely adhere with a positive attitude.

• Journal of the Ergonomics Society of Korea
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• v.30 no.1
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• pp.9-17
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• 2011

Consumer products are produced on the premise that consumers can use their products safely and effectively no matter how serious human errors they may make. However, different careers and educational experiences of them may induce diverse human errors when they want to use them. In that sense, not a few policies to reduce human errors may show some implications for human error prevention and industrial design of consumer products. In this paper, producers' safety efforts required by Product Liability(PL) Act were reviewed in view of human error prevention, and legal aspects of manufacturers' responsibility for consumer products were discussed in relation to Product Liability Act. Then, principal approaches for them were introduced under the title of System Safety Precedence. After that, major key points for preventing human errors related with consumer products - such as ergonomic design and effective labeling - were discussed with reference to ISO standards. Therefore, it was shown that all the efforts required by PL Act would be correspondent to human error prevention in the whole manufacturing processes if understood by ergonomists. To make a conclusion, it could be said that, for human error prevention, the principle of System Safety Precedence would be indispensable, and that all the efforts for preventing human errors should be systematically organized in Product Safety Management Systems.

• Journal of the Korean Society of Safety
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• v.33 no.6
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• pp.128-135
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• 2018

Currently, the government selects products that are likely to cause harm to consumers as safety management targets and classifies them into three types: safety certification, safety confirmation, and supplier conformity verification. In addition, the government conducts safety surveys on products in circulation or accident products, and recalls products that are of great concern to consumer risks. In this paper, we have developed RAP (Risk Assessment method based on Probability), which is a probability based product risk assessment method, for the classification of safety management type of product and safety investigation, and have shown an application example. In this process, information is used for the CISS (Consumer Injury Surveillance System) of the Korean Consumer Agency. In addition, we apply the cluster analysis to classify the current supervised children products into three groups. Then, we confirm the effectiveness of RAP by comparing the result of RAP application, cluster analysis result and current safety management classification type. Also, we recognize the need to review the current safety management classification criteria for classifying products into three types.

• Journal of Information Technology Services
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• v.21 no.6
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• pp.73-89
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• 2022

After COVID-19, the percentage of digital consumption has soared. Meanwhile, as the online platform market grows in size and digital commerce is activated, controversy over the "dark pattern" that induces consumers to do unintended things online continues. Dark patterns are deceptive design patterns that cause consumer rights and financial damage and can result in damaging fair market competition. As a result, the need to regulate dark patterns is raised not only by overseas regulators but also in Korea, and there are growing calls for strengthening consumer protection against dark patterns, with amendments to related laws being proposed by the National Assembly. On the other hand, there is no agreed definition of dark pattern from a normative point of view, and there is a concern that even legitimate advertising marketing activities of companies may be regulated, so a review of dark pattern regulatory measures is required. In this study, dark patterns were reviewed from a normative point of view and appropriate regulatory measures were analyzed. In particular, the problem of the dark pattern can be applied in a way that the market regulates and controls itself in consideration of the characteristics of the online platform. This study reviewed the possibility of self-regulation for dart patterns and proposed the role of each subject.

• Journal of Distribution Science
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• v.21 no.5
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• pp.75-82
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• 2023

Purpose: This research aims to test the measurement invariance of the consumer-based brand equity scale on Turkish and Syrian university students who live together but are from different cultural groups. Research design, data, and methodology: The consumer-based brand equity scale developed by Buil et al. (2008) is applied to the participants. In testing the consumer-based brand equity scale, the Netflix brand, which is considered well-known by both cultural groups, is preferred. It is thought that choosing an internationally recognized brand would facilitate the conduct of this research. Structural invariance and measurement invariance are tested using structural equation modeling. Results: The consumer-based brand equity scale has measurement invariance on Turkish and Syrian university students. Therefore, it has been revealed that the responses of participants from both cultures regarding the Netflix brand are comparable. Conclusion: The findings of the study provide clues for practitioners to review their distribution strategies. As a matter of fact, cultural studies conducted in different countries are common. Still, the originality of this study is ensured by the profile of participants who live in the same country but come from different countries.

• The Journal of Information Systems
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• v.32 no.3
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• pp.133-150
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• 2023

Purpose This study aims to develop classification models using a decision tree algorithm to identify core keywords and rules influencing online consumer review evaluations for the robot vacuum cleaner on Amazon.com. The difference from previous studies is that we analyze core keywords that affect the evaluation results by dividing the subjects that evaluate online consumer reviews into self-evaluation (star ratings) and peer evaluation (helpfulness votes). We investigate whether the core keywords influencing star ratings and helpfulness votes vary across different products and whether there is a similarity in the core keywords related to star ratings or helpfulness votes across all products. Design/methodology/approach We used random under-sampling to balance the dataset. We progressively removed independent variables based on decreasing importance through backwards elimination to evaluate the classification model's performance. As a result, we identified classification models that best predict star ratings and helpfulness votes for each product's online consumer reviews. Findings We have identified that the core keywords influencing self-evaluation and peer evaluation vary across different products, and even for the same model or features, the core keywords are not consistent. Therefore, companies' producers and marketing managers need to analyze the core keywords of each product to highlight the advantages and prepare customized strategies that compensate for the shortcomings.

• Journal of Families and Better Life
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• v.29 no.4
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• pp.109-123
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• 2011

The importance of finance in our society is truly absolute, and the of financial consumers who cope with the financial environment is becoming. Recently, many authorities in Korea to perceive the absence of serious economic or financial consumer education in order to find a fundamental solution for such a phenomenon, there is a growing need to introduce financial consumer education. This study aims to review the comprehension power of finance among consumers are college students in this society the importance of finance is becoming greater, and to a way promote financial consumer education by analyzing the demand level for The main results obtained from the include the following. First, as a result of reviewing the characteristics of respondents, their average age was 21.8 years old, and on average they each had 4.16 credit cards. Most of them had no experience of receiving financial consumer education in their teenage years, and their interest level in investment was shown to be above average. Second, as a result of reviewing their comprehension power of finance, it was shown to be 64.10 points on average their comprehension of the income area was the highest, their comprehension money management was shown to be the lowest. Third, as a result of reviewing the perception level of the provision of financial consumer education, it was shown to be very low the perception level of on-line and off-line financial consumer education provided by the YMCA was shown to be the highest. Fourth, as a result of reviewing the level financial consumer education, it was shown to be very high. For the level for institutions financial consumer education, financial institutions the highest. For the level for the method of financial consumer education, respondents chose practical experience the most and education books the least. For the intention of participating in financial consumer education, most respondents that they would participate, and most of them answered that the starting period should be the teenage years and childhood Therefore, as a result, most university student's consumers have concerned on financial education and financial inportance, it need to educate for the university student's consumers, and it need to develop technical tools and contents for ficancial education.

• Journal of the Korean Society of Food Culture
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• v.38 no.4
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• pp.191-202
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• 2023

Food upcycling has emerged as an effective approach to sustainably utilize the food waste generated within the food supply chain. This review article examines upcycled food with respect to its definition, consumers' knowledge and perception on it, and the process by which by-products from the food supply chain are utilized for the creation of upcycled food products. The definition of upcycled food varied among manufacturers, research institutions, and the Upcycled Food Association, depending on the specific values and objectives of each sector. This has resulted in the use of different keywords to highlight the distinctive characteristics of their respective interpretations of upcycled food. This review also summarizes the various consumer traits that can influence the awareness and acceptance of upcycled food, encompassing functional, empirical and emotional, symbolic and self-expressive, and economic benefits. Additionally, the review presents strategies to utilize by-products produced in large quantities in Korea, while also addressing the control of hazardous components to ensure biological or chemical safety and the changes in nutritional value that may occur during the utilization of these byproducts.