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Creative Cultural Localization Ways and IT Market of the EU to Converge the Creative Industries (창조융합시장을 위한 유럽 연합 (EU)의 시장과문화적 지역특화방안)

  • Seo, Dae-Sung
    • Journal of Distribution Science
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    • v.13 no.1
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    • pp.27-33
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    • 2015
  • Purpose - The ICT market in the EU is lagging behind that of the US; however, algorithm and software development within the EU have grown steadily, and they involve focusing on the creative cultural convergence conceptualized as part of Horizon 2020 and connecting neighboring markets in the EE and the Mediterranean region. It is essential to study the requirements to market the EU's creative ICT development in emerging industrial countries after examining its applicability in these countries. Research design, data, and methodology - This study deals with data pertaining to the EU's creative industry and competitive edge. The global cultural expansion of the EU facilitates a new concept involving not only low-cost IT products to enhance local cultural artifacts through R&D and the construction of efficient infrastructure services, but also information exchange with a realistic commercialization of the technology that can be applied for creative cultural localization. In the European industry, research on algorithms has been applied for the benefit of consumers. We investigated how the process is conducted in the EU. Results - Europe needs to adjust its economic structure to the local culture as part of IT distribution convergence. The convergence has been converted into a production algorithm with IT in the form of low-cost production. This is because there is an attempt to improve the quality of transport infrastructure, workforce availability, and the distribution of the distance to the local industries and consumers, using IT algorithms. Integrated into the manufacturing industry, based on the ICT infrastructure and solutions, smart localized regional clusters are formed with the help of grafting. Europe has own strategy to increase the number of hub-and-spoke cities. Europe is now becoming integrated, with an EPC system for regional cooperation rather than national competition in ICT technology. Europe has also been recognized in this study as changing the step-by-step paradigm for global competitiveness through new creative culture industries. Conclusions - As a result, there are several ways of converging with others through EU R&D intensity; therefore, the EU can be seen as successfully increasing marginal value, which is useful in developing a special industrial cluster or local cultural cities that create converged development by connecting people and objects with IT. In fact, when compared to the US, Europe has a strong culture and the car industries have a tendency to overshadow the IT industries with integration of services in IT distribution. Considering the rapid environmental changes, the convergence of IT services is likely to take place in Europe, similar to the pharmaceutical industry and the automotive industry. This requires a focus on human resources and automated systems management. The trend is to move away from low-wage industries, switched to key personnel centers of the local university-industry. EU emphasizes the creation of IT market demand in Europe involving local cultural convergence for marketing as the second step to strengthen the economic hub-and-spoke areas.

The Market Segmentation according to Lifestyle Types of Chinese Consumers: - Focused on Shanghai Residents - (중국소비자의 라이프스타일 유형에 따른 시장세분화 - 상해를 중심으로 -)

  • Lee, Ji-Hyun
    • Journal of Fashion Business
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    • v.14 no.5
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    • pp.176-194
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    • 2010
  • According to the economy recession of U.S.A and Europe, the value of China market has been increased. Therefore the in-depth studies were essential for the companies and brands which look for new rising market. This study typed Chinese consumers by lifestyle and analyze the demographics and clothing purchasing behavior. The result of the internet survey which was carried out targeting Shanghai residents, established several consumer types of men and women respectively. In case of male consumers, established 4 groups like indifferent to advertising/brand group, seriously considering brand/health group, seriously considering leisure group, and seriously considering education group. In case of female consumers, established 3 groups like seriously considering education/food group, seriously considering housing/leisure group, and seriously considering shopping group. These groups were showed significant differences to demographics and clothing purchasing behavior. These characteristics about the groups must be reflected to marketing and merchandising strategies.

Brand Equity and Purchase Intention in Fashion Products: A Cross-Cultural Study in Asia and Europe (상표자산과 구매의도와의 관계에 관한 국제비교연구 - 아시아와 유럽의 의류시장을 중심으로 -)

  • Kim, Kyung-Hoon;Ko, Eun-Ju;Graham, Hooley;Lee, Nick;Lee, Dong-Hae;Jung, Hong-Seob;Jeon, Byung-Joo;Moon, Hak-Il
    • Journal of Global Scholars of Marketing Science
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    • v.18 no.4
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    • pp.245-276
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    • 2008
  • Brand equity is one of the most important concepts in business practice as well as in academic research. Successful brands can allow marketers to gain competitive advantage (Lassar et al.,1995), including the opportunity for successful extensions, resilience against competitors' promotional pressures, and the ability to create barriers to competitive entry (Farquhar, 1989). Branding plays a special role in service firms because strong brands increase trust in intangible products (Berry, 2000), enabling customers to better visualize and understand them. They reduce customers' perceived monetary, social, and safety risks in buying services, which are obstacles to evaluating a service correctly before purchase. Also, a high level of brand equity increases consumer satisfaction, repurchasing intent, and degree of loyalty. Brand equity can be considered as a mixture that includes both financial assets and relationships. Actually, brand equity can be viewed as the value added to the product (Keller, 1993), or the perceived value of the product in consumers' minds. Mahajan et al. (1990) claim that customer-based brand equity can be measured by the level of consumers' perceptions. Several researchers discuss brand equity based on two dimensions: consumer perception and consumer behavior. Aaker (1991) suggests measuring brand equity through price premium, loyalty, perceived quality, and brand associations. Viewing brand equity as the consumer's behavior toward a brand, Keller (1993) proposes similar dimensions: brand awareness and brand knowledge. Thus, past studies tend to identify brand equity as a multidimensional construct consisted of brand loyalty, brand awareness, brand knowledge, customer satisfaction, perceived equity, brand associations, and other proprietary assets (Aaker, 1991, 1996; Blackston, 1995; Cobb-Walgren et al., 1995; Na, 1995). Other studies tend to regard brand equity and other brand assets, such as brand knowledge, brand awareness, brand image, brand loyalty, perceived quality, and so on, as independent but related constructs (Keller, 1993; Kirmani and Zeithaml, 1993). Walters(1978) defined information search as, "A psychological or physical action a consumer takes in order to acquire information about a product or store." But, each consumer has different methods for informationsearch. There are two methods of information search, internal and external search. Internal search is, "Search of information already saved in the memory of the individual consumer"(Engel, Blackwell, 1982) which is, "memory of a previous purchase experience or information from a previous search."(Beales, Mazis, Salop, and Staelin, 1981). External search is "A completely voluntary decision made in order to obtain new information"(Engel & Blackwell, 1982) which is, "Actions of a consumer to acquire necessary information by such methods as intentionally exposing oneself to advertisements, taking to friends or family or visiting a store."(Beales, Mazis, Salop, and Staelin, 1981). There are many sources for consumers' information search including advertisement sources such as the internet, radio, television, newspapers and magazines, information supplied by businesses such as sales people, packaging and in-store information, consumer sources such as family, friends and colleagues, and mass media sources such as consumer protection agencies, government agencies and mass media sources. Understanding consumers' purchasing behavior is a key factor of a firm to attract and retain customers and improving the firm's prospects for survival and growth, and enhancing shareholder's value. Therefore, marketers should understand consumer as individual and market segment. One theory of consumer behavior supports the belief that individuals are rational. Individuals think and move through stages when making a purchase decision. This means that rational thinkers have led to the identification of a consumer buying decision process. This decision process with its different levels of involvement and influencing factors has been widely accepted and is fundamental to the understanding purchase intention represent to what consumers think they will buy. Brand equity is not only companies but also very important asset more than product itself. This paper studies brand equity model and influencing factors including information process such as information searching and information resources in the fashion market in Asia and Europe. Information searching and information resources are influencing brand knowledge that influences consumers purchase decision. Nine research hypotheses are drawn to test the relationships among antecedents of brand equity and purchase intention and relationships among brand knowledge, brand value, brand attitude, and brand loyalty. H1. Information searching influences brand knowledge positively. H2. Information sources influence brand knowledge positively. H3. Brand knowledge influences brand attitude. H4. Brand knowledge influences brand value. H5. Brand attitude influences brand loyalty. H6. Brand attitude influences brand value. H7. Brand loyalty influences purchase intention. H8. Brand value influence purchase intention. H9. There will be the same research model in Asia and Europe. We performed structural equation model analysis in order to test hypotheses suggested in this study. The model fitting index of the research model in Asia was $X^2$=195.19(p=0.0), NFI=0.90, NNFI=0.87, CFI=0.90, GFI=0.90, RMR=0.083, AGFI=0.85, which means the model fitting of the model is good enough. In Europe, it was $X^2$=133.25(p=0.0), NFI=0.81, NNFI=0.85, CFI=0.89, GFI=0.90, RMR=0.073, AGFI=0.85, which means the model fitting of the model is good enough. From the test results, hypotheses were accepted. All of these hypotheses except one are supported. In Europe, information search is not an antecedent of brand knowledge. This means that sales of global fashion brands like jeans in Europe are not expanding as rapidly as in Asian markets such as China, Japan, and South Korea. Young consumers in European countries are not more brand and fashion conscious than their counter partners in Asia. The results have theoretical, practical meaning and contributions. In the fashion jeans industry, relatively few studies examining the viability of cross-national brand equity has been studied. This study provides insight on building global brand equity and suggests information process elements like information search and information resources are working differently in Asia and Europe for fashion jean market.

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Choice-based Conjoint Analysis of Consumer Preferences for Health Food Attributes Focused on Vitamin C Supplements (선택형 컨조인트 분석을 통한 건강기능식품 속성의 소비자 선호에 관한 연구: 비타민 상품을 중심으로)

  • Kim, Tae-Hoon;Kim, Bo-Yong
    • Journal of Distribution Science
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    • v.13 no.3
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    • pp.79-91
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    • 2015
  • Purpose - First, the study identifies and analyzes consumer preferences with regard to health foods and supplements. Second, it identifies and analyzes consumer preferences with regard to the properties of Vitamin C supplements. Third, in order to provide a basic data for the development of Vitamin C supplements and to measure how consumers value the properties of different Vitamin C products, a consumer survey was conducted through the choice-based conjoint model. Based on the results, the research estimates consumers' relative product-related priorities as well as price levels and willingness to pay (WTP) for different product types, and makes suggestions regarding consumer-oriented new product development and progressive directions for the successful launch of health foods and supplements. Research design, data, and methodology - This study aims to define the attributes of health foods and supplements based on several characteristics including their natural ingredients, product price, product originality, natural ingredient content, and additional functional ingredients, and makes suggestions regarding strategic market pricing and product development for health foods and supplements according to customer attitudes and characteristics. The research used choice-based conjoint analysis methodology based on the Multinomial Logic Model and collected 94 questionnaires filled out by users of Korean Vitamin C supplements. Results - Product price is the most influential factor among the five analyzed properties. When consumers buy Vitamin C products, the relative significance level of four of the examined properties is as follows: 40.9% for product price, 23.3% for product originality, 21.9% for natural ingredient content, and 13.9% for additional functional ingredients. Vitamin C content is excluded as it is not a statistically significant factor. It is interesting that supplement manufacturers and retailers consider Vitamin C content to be very important whereas consumers do not regard it as an important factor at the time of purchase. The results for the marginal willingness to pay (MWTP) for each property of Vitamin C supplements show that consumers are willing to pay an additional 11,146 Korean won for a 50% increase in the natural ingredient content. With regard to product originality, consumers are willing to pay an additional 11,301 Korean won for products manufactured in Europe than for products manufactured in China. Moreover, consumers show a greater preference for products manufactured in Korea than in Europe. However, consumers are not willing to pay more for additional Vitamin C or additional functional ingredients added to Vitamin C products. Conclusions - According to the results of consumer research on Vitamin C supplements, which represent a popular health food supplement in Korea, most Korean health food and supplement companies are not consumer- or market-oriented when developing new products. Companies gather information from either R&D specialists or sales managers and their opinions are highly reflected in new product development. The study's results will help companies recognize the importance of understanding consumers' unmet needs in advance to develop new products in the future.

Theoretical Migration Estimation of Acetaldehyde and Butyraldehyde from Polyethylene Terephthalate (PET) into Fermented Food Simulants (PET식품 용기에서 발효 모사 식품으로 전이되는 아세트알데히드와 부틸알데히드 예측 모델)

  • Lee, Daeun;Jeon, Hyunpyo;Kim, Sanghun
    • Journal of Environmental Health Sciences
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    • v.42 no.3
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    • pp.160-168
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    • 2016
  • Objectives: Materials coming into contact with food may result in the migration of chemical substances into the food. To protect consumers from exposure, Regulation (EU) No. 10/2011 specifies the use of standard migration tests. Polyethylene terephthalate (PET), widely used for food packaging materials, has drawn the attention of researchers because unwanted migration of PET into food might occur when consumers reuse packaging material. The aim of this study was to predict and develop a migration model for two components, acetaldehyde and butyraldehyde in PET, into food simulants under conditions of changing pH and solvents, such as those observed in fermented foods like kimchi or sauerkraut. Methods: Using a migration model based on Fick's second law of diffusion in one dimension, the migration of acetaldehyde and butyraldehyde from PET into a simulant of fermented food at $20^{\circ}C$ over 10 days was evaluated. The simulant for fermented food was modelled as 10% ethanol for three days, followed by 3% acetic acid for seven days. Results: The migration of acetaldehyde into the 10% ethanol was 0.36 times that of a simulated fermented food system, while that of butyraldehyde was 1.34 times greater. These results may have been influenced by the chemical interactions among the migrants, polymers and simulants, as well as by the solubilities of the migrants in polymers and simulants. Conclusion: Because food simulants have a limited capacity to mimic real food systems under the current migration model, an appropriate simulant and migration test should be considered in the case of increasing acidity. Furthermore, since the accuracy of the worst-case estimation of migration predicted by the current model is severely limited under changing food conditions, food simulants and their interactions should be further investigated with respect to conservative migration modelling.

Analysis of Low Growth of B2C in Korea - Focused on Transaction Cost

  • Park, Joo-Sang;Jeong, Seok-Chan
    • Proceedings of the CALSEC Conference
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    • 2001.08a
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    • pp.493-501
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    • 2001
  • B2C is not doing well in Asia and Pacific countries in comparison to U.S. and Europe. But there is misunderstanding of low growth of B2C electric commerce caused by cultural factor. Consumers in market are rational to decide their purchase according to total cost - market price and transaction cost. I examined this with data of Korea and U.S. Transaction cost in real market is less in Korea than in U.S. but that of electric commerce, it is much less in U.S. As a result, the choice of consumers in Korea is real market transaction while consumers in U.S. choose electric commerce.

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A Review of International Risk Sharing for Policy Analysis

  • Poncela, Pilar;Nardo, Michela;Pericoli, Filippo M.
    • East Asian Economic Review
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    • v.23 no.3
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    • pp.227-260
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    • 2019
  • This paper offers a comprehensive view of international risk sharing and of related policy issues from the perspective of the European Union. The traditional analyses contemplate three risk-sharing channels: the capital markets channel (through cross border portfolio investments), international transfers and the credit markets channel (via savings). Comparative analyses reveal that, on average, about 80% of the shock remains unsmoothed in Europe while only about 18% of the shock is transmitted to consumers within the US. From aggregated figures, there is space for improving, particularly, the cross-border investments channel in Europe. In this sense, the completion of the Banking and Capital Markets Union are expected to boost risk sharing across European member states. We also review new additional issues usually not contemplated by the traditional literature as depreciation, migration and the role of sovereigns and two new additional channels recently considered in the literature: government consumption and the real exchange rate. Finally, we also examine recent analysis related to the geographic distribution of risk sharing.

A Study on the Marketing Strategy of Organic Products in Europe - Germany, Swiss, Austria- (유럽의 유기농 마케팅 전략에 관한 연구 -독일, 스위스, 오스트리아를 중심으로-)

  • Yoo, Duck-Ki
    • Korean Journal of Organic Agriculture
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    • v.14 no.3
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    • pp.287-303
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    • 2006
  • This paper describes the market development and marketing strategy of organic products in European Union(EU), where organic products market has grown rapidly due to a variety of factors. According to several surveys environmentally friendly agricultural products widely meet consumers demand, but the corresponding market share in Korea is less than 4.0%. Missing confidence in the authenticity of organic products, high prices compared to other foods, a low density of distribution, and a lack of a uniform label are regarded as hampering factors for market growth. The influence of the image of organic products on market development, however, is analyzed insufficiently by now. This paper therefor aims at investigating the implications of the marketing strategy and image of organic foods on its acceptance by consumers and deriving hints for the development of the market. The actual study is based on a concept of morphological market research, the result refer to Germany, Swiss, Austria.

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Suggestions for Brand Marketing Strategies through Market Opportunity Analysis of Traditional Fashion Products (전통 패션상품의 시장기회분석을 통한 브랜드 마케팅 전략 제안)

  • Ko Eunju
    • Journal of the Korean Society of Clothing and Textiles
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    • v.29 no.5 s.142
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    • pp.692-702
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    • 2005
  • The purpose of this study was to explore global consumer behavior with fashion products, Korean fashion products, and Korean traditional fashion products (i.e., Han-Bok). Clothing selection criteria for fashion products and Korean fashion products were included as major constructs far the comparison among global consumers based on their nationality. Other consumer behavior variables were shopping place, buying frequency, purchase experience/plan, preferred brand, purchase items, information source, purchasing usage, and the product evaluation of Hanbok. A convenience sample of 236 global consumers was selected for this study. A questionnaire was pilot tested, and the revised questionnaire was used for the interview survey. Descriptive statistics and ANOVA were used for data analysis. Various nationality were existed such as Europe, North America, Japan, China, South East Asia. The results indicated that the most important criteria for fashion buying were design, fit, and size in order. Fit, size, and color item from buying criteria were significantly different among global consumers by nationality. Country of origin was found as less important factor among global consumers. Department store was most favorable shopping place, and once a month is the most mentioned category in buying frequency. Preferred brands were Levi's, Polo, Gucci, and Prada, etc. Secondly, regarding the evaluation of Korean fashion products, textile quality was highly evaluated. Significant difference except design/style category were existed among global consumers by nationality. Thirdly, regarding the evaluation of Hanbok, the product evaluation of Hanbok highly represented as special event clothing, unique image, beautiful details and oriental beauty in order. Significant difference in good quality of textiles, oriental beauty, coordination with good colors and fabrics, beautiful details and unique style and design were existed among global consumers by nationality. Managerial implications were discussed.

Cultural Exchange and Its Externalities on Korea-Africa Relations: How Does the Korean Wave Affect the Perception and Purchasing Behavior of African Consumers?

  • Ochieng, Haggai Kennedy;Kim, Sungsoo
    • East Asian Economic Review
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    • v.23 no.4
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    • pp.381-407
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    • 2019
  • The Korean wave has become a global phenomenon whose effect has been widely studied in Asia, Europe and the US. However the presumption of cultural distance makes it appear unlikely that the Korean wave could gain traction among African consumers of cultural products. As such, a dearth of evidence exists on the effects of the wave in Africa. This paper examines the effect of the wave in East African countries employing both descriptive and Probit model analyses. The results show that, contrary to conventional beliefs, most Africans surveyed perceive value proximity with Korea through the values conveyed in Korean dramas, movies and music. Confucius values, such as filial piety, family love and respect for the elderly are the most appealing to the East African audience. Importantly, contact with Korean wave contents contributes to the respondents' disposition to form favorable attitude towards Korea. The African consumers of Korea's cultural products are equally likely to purchase other Korean commercial products. These results remotely suggest that Hallyu may be a tool for advancing Korea's soft power towards Africa and could generate positive economic externalities.