• 유통과학연구
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• 제11권6호
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• pp.51-58
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• 2013

Purpose - Nowadays, more than ever before, fierce competition, deep market segmentation, short product life cycles, and intensifying customer needs are putting increasing pressure on franchise's organizations to satisfy their customers by creating market-oriented relationships with and enhancing their market knowledge of them. One way that this might be achieved is by establishing deep ties (i.e., job commitment and job satisfaction) with their employees. Therefore, the purpose of this study is to examine how two important constructs of franchises' strategic efforts, LO (learning orientation) and RMO (relationship marketing orientation), affect job satisfaction, given the mediating role of job commitment. A franchise system comprises a set of contractual arrangements by which mutual obligations are performed. An organizational learning goal motivates employees to improve their abilities and master the tasks they perform. Relationship marketing, in addition, is to identify, establish, maintain, and enhance relationships with customers and other stakeholders to ensure that the objectives of all parties are met and this is done through the mutual exchange of promises. In a relationship marketing orientation, then, a firm creates, maintains, and enhances a strong relationship with its customers by sustaining long-term ties. This study was designed to examine the evolution of various theoretical approaches to franchise systems in order to determine whether theories about firms have significantly affected the franchise system. To this end, the authors developed a structural model consisting of several constructs. Previous studies have suggested that franchises' learning and relationship marketing orientations are important occupational immersion dimensions driving job satisfaction. Research design, data, methodology - We empirically tested a process of how the learning orientation and the relationship marketing orientation influence job commitment and job satisfaction using survey data drawn from 150 responding franchisees who were interviewed about their individual tendencies. Results - The results of this study provide empirical evidence that learning orientation, relationship marketing orientation, and job commitment all influence franchisees' job satisfaction. The results of this study indicate that, first, learning orientation had a significant effect on job satisfaction; second, relationship marketing orientation was positively related to job commitment; third, job commitment had a significant effect on job satisfaction. We also found that relationship marketing orientation and job satisfaction were mediated by job commitment. Conclusions - The findings of this study confirm the importance of learning orientation and relationship marketing orientation in maintaining a positive marketing relationship between franchiser and franchisee from to the perspective of the market. This indicates that franchiser support such as educational programs provided by the franchiser will help franchisees attain higher business management achievement and satisfaction. Moreover, a positive relationship between franchisees and consumers can be maintained through tie effects. Our findings also suggest that learning orientation plays a critical role in job satisfaction within the franchise system.

• 패션비즈니스
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• 제21권2호
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• pp.30-44
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• 2017

The purposes of this study were to (a) identify dimensions of relational benefits in the social commerce market, (b) predict the effects of relational benefits on satisfaction, repurchase intention, and word of mouth (WOM) intention, (c) examine the mediating effects of satisfaction, and (d) compare the differences in the effects of relational benefits on satisfaction, repurchase intention, and WOM intention between the two groups of market mavenism. For collecting data, a self-administered questionnaire was undertaken by an online research agency. A total of 490 usable responses were obtained from consumers who have used social commerce sites. The sample included a slightly higher number of females (50.8%) than males and age was ranged from 20 years to 40 years. An exploratory factor analysis generated four factors of relational benefits such as confidence, convenience, special treatment, and information. Multiple regression models showed that confidence, convenience, and special treatment benefits were significant predictors of satisfaction and repurchase intention; the confidence and convenience benefits were significant for WOM intention. Satisfaction significantly mediated the relationship between relational benefits and repurchase intention, and the relationship between relational benefits and WOM intention. The group with high level of market mavenism more highly perceived the relational benefits than the other groups. Confidence benefit had a significant effect on repurchase intention regardless of the level of market mavenism, while convenience benefit had a significant effect on repurchase intention in the non-market maven group. This study discussed the managerial implications for customer relationship management in the social commerce marketplace.

• 한국프랜차이즈경영연구
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• 제11권2호
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• pp.17-22
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• 2020

Purpose: As consumers have difficulty in brand choice due to excessive information, using brand popularity as an advertising cue (e.g., Sales No. 1, Hit Product) has been getting more attention as an effective curation strategy for decreasing consumers' cognitive efforts. Accordingly, recent studies empirically demonstrate that consumers tend to prefer and choose a brand with a popularity cue and offer a useful information regarding how to use a popularity cue in marketing communication. However, extant research has mainly focused on investigating the impact of "brand popularity in a domestic market" on consumer behaviors. Thus, little is known about the effect of "brand popularity in a foreign market" on local consumers' decision-making process. Given that domestic consumers tend to purchase imported products from overseas countries, it can be meaningful information for global companies. Therefore, this research derives and tests the five hypotheses to examine how local consumers respond to brand popularity in a foreign market as an advertising cue. Specifically, it tests the three hypotheses regarding the direct and indirect effects of brand popularity in a foreign market on risk perception and purchase intention. Then, it tests two additional hypotheses about moderating effects of psychic distance on the relationship between brand popularity and risk perception as well as on the relationship between brand popularity and purchase intention. Seventy participants are exposed to an advertisement for an Indian cosmetic brand using a popularity cue in Indian market and answer the questions about brand evaluation. For data analysis, regression analysis is employed. The findings of this research show that perceived brand popularity lowers local consumers' perceived risk with a foreign brand. However, perceived brand popularity does not have a direct impact on purchase intention while it has an indirect effect through perceived risk. Meanwhile, psychic distance moderates the effect of perceived brand popularity on perceived risk level, but it has no impact on the relationship between brand popularity and purchase intention. This research is one of the first studies that demonstrate the positive impact of brand popularity in a foreign market on a local consumer's purchase decision, and it shows the effect can be moderated by psychic distance.

• 재무관리연구
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• 제27권2호
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• pp.169-204
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• 2010

본 논문에서는 한국금융시장의 자료를 이용하여 펀드플로우와 시장위험간의 관계를 검증하고, 펀드플로우의 변화가 시장의 위험수준의 변화를 설명할 수 있는지를 분석하였다. 이는 펀드플로우와 시장위험간의 관계에 대한 학문적 시사점을 제공하고 일각에서 제기하고 있는 펀드런에 의한 시스템리스크 유발가능성을 탐색한다는 점에서 의미를 갖는다. 주식형 펀드플로우와 주식시장 위험에 대한 분석결과는 펀드자금의 유입이 시장위험과 (+)의 관계를 가짐을 보여준다. 채권형 펀드의 경우 펀드플로우는 채무불이행위험프리미엄과 음(-)의 관계를, 기간프리미엄과는 양(+)의 관계를 갖는다. MMF의 결과는 MMF로의 자금유입이 시장의 유동성위험을 줄여줌을 보여준다. 예측오차의 분산분해를 통한 전이지수의 구성을 통해 펀드플로우의 변화가 시장위험의 변화를 얼마나 설명할 수 있는지를 분석한 결과는 설명력이 제한적이며 변동이 매우 심한 결과를 보여준다. 주식시장의 경우 한국자본시장에서 서브프라임 사태의 영향이 본격화된 시기인 2007년 말 이후 펀드플로우에 가해진 변화가 시장의 위험변동을 설명하는 비율이 상대적으로 크게 증가해 이러한 추세가 상당기간 지속되는 모습을 보인다. 반면, 채권시장의 경우 2008년 말 이후 펀드플로우에 가해진 충격이 채권시장의 위험에 전이되는 현상이 지속적으로 나타나며, 단기 금융시장의 경우에는 이러한 현상이 체계적으로 발생하지 않는다. 주식시장과 채권시장에서 보인 특정시기를 중심으로 하는 전염효과의 지속현상은 펀드플로우에 가해진 예상치 못한 충격이 시장위험을 증가시킬 수 있음을 의미한다. 그러나 회귀분석과 VAR 모형의 추정결과, 그리고 분산분해의 설명력 등을 고려하여 판단할 때 본 연구의 결과는 펀드플로우의 변화가 시장위험의 변동을 설명하는 설명력이 제한적이어서 일부에서 우려하는 펀드런에 따른 금융시장의 시스템리스크의 증가와 전반적인 위기의 확산으로 나타날 가능성은 높지 않음을 말해준다.

• 인터넷정보학회논문지
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• 제12권4호
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• pp.51-59
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• 2011

본 연구의 목적은 해외유료방송의 시장집중과 시장성과 간의 실증적인 관계분석을 통해 국내 미디어산업의 바람직한 규제 및 정책 방향을 고찰해 보는 것이다. 세계적으로 방송통신이 융합되어 규제가 완화되고 있음에도 불구하고, 국내의 경우에는 미디어 시장이 특정사업자에 집중될 경우 시장 비효율이 발생하고 다양성이 훼손된다는 전제 하에, 여전히 시장집중현상을 집중적으로 규제하고 있다. 본 연구에서는 전 세계 17개 유료방송시장을 대상으로 1위 사업자의 시장점유 정도가 시장가격과 서비스 보급에 영향을 미치는지 분석하였다. 조사결과 시장집중 현상이 초래되어도 가격이 상향되거나 서비스 보급이 지연되는 않는 것으로 분석되었다. 본 연구결과, 시장성과에 영향을 주는 요인들이 다각화되었기 때문에 단순히 시장집중만을 규제하면 기술혁신 침체와 같은 부작용도 발생하는 것을 포함하여 다양한 시사점들이 도출되었다.

• 아태비즈니스연구
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• 제13권4호
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• pp.45-59
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• 2022

Purpose - This study investigates the performance of investment strategies incorporating estimated stock market cycle based on a lead-lag relationship between business cycle and stock market cycle, thereby deriving empirical implications on risk management. Design/methodology/approach - The data period ranges from June 1953 to September 2022 and de-trended short rate, term spread, credit spread, stock market volatility are considered as major input variables to estimate business cycle and stock market cycle by applying probit model. Based on the estimated stock market cycle, two types of strategies are constructed and their performance relative to the benchmark is empirically examined. Findings Two types of strategies based on stock market cycle are considered: The first strategy is to long(short) on stocks when stock market stage is expected to be an expansion(a recession), and the second one is to long on stocks(bonds) when expecting an expansion(a recession). The empirical results show that the strategies based on stock market cycle outperforms a simple buy and hold strategy in both in-sample and out-of-sample investigation. Also the out-of-sample evidence suggests that the second strategy which is in line with asset allocation is more profitable than the first one. Research implications or Originality The strategies considered in this study are based on the estimated stock market cycle which only depends on a few easily available financial variables, thereby making easier to establish such a strategy. It implies that investors enhance investment performance by constructing a relatively simple trading strategies if they set their position on stocks or choose which asset class to buy conditioning on stock market cycle.

• 산경연구논집
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• 제1권1호
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• pp.23-31
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• 2010

본 연구는 부동산 시장에서 시장지향성의 요인인 시장정보 창출과 시장정보 확산, 시장정보에 대한 반응이 부동산 거래성과에 미치는 영향을 알아보고 이 과정에서 환경적 요인인 시장 격변성과 경쟁강도에 따라 부동산 시장에서 고객의 반응을 연구하여 시장의 범위에 최종 고객은 물론 부동산거래업자 등을 포함시킴으로써 보다 광범위한 마케팅 패러다임을 지향하고자 하였다. 따라서 부동산 유통과정에서 나타나는 시장지향성의 특성을 통해 부동산 거래성과에 미치는 영향에 관한 연구를 목적으로 연구대상을 결정하고 설문을 통한 실증분석을 하였다. 이번 연구 결과로 새로운 고객과의 관계와 부동산 시장에 대한 가능성을 확인하고 보다 적극적인 마케팅 전략을 수립하여 부동산 거래성과를 새로운 방향을 모색하는데 그 목적이 있다.

• 한국산학기술학회논문지
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• 제17권4호
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• pp.440-447
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• 2016

장기적인 글로벌 경기침체의 여파로 소비재 기반의 B2C 시장 외에 산업재 기반의 B2B 시장이 새로운 성장 동력으로 주목받고 있다. 고객과의 관계가 중요한 B2B 시장에서는 고객과의 관계에서 발생하는 효용을 기반으로 하는 관계가치가 중요하고, 국가나 조직의 제도적 특수성도 관계 및 관계가치에 영향을 준다. 특히, 한국과 대만의 B2B 시장에서 창출되는 고객과의 관계가치들을 도출하여 국가별 특수성을 비교하고 글로벌 B2B 시장의 관계가치와 비교하였다. 순차적 탐색 설계에 기반한 혼합방법론을 적용하여 분석한 결과, 한국과 대만의 B2B 시장에서 요구되는 관계가치의 6가지 유형(공급자 노하우, 서비스 지원, 출시시기, 전달 성능, 개인 상호작용 및 제품의 품질)을 도출하였다. 한국은 대기업 기반의 시장 특성을 가져 '공급자의 노하우'가 가장 중요한 관계가치로 인식되었고, 반면 대만은 중소기업 기반의 시장 특성을 가져 '서비스 지원'이 가장 중요한 관계가치로 도출되었다. 본 연구결과는 다른 아시아 개발도상국들도 B2B 시장에서 비즈니스 관계 개선을 위해 집중해야할 관계가치로 시사점이 있으며, 아시아 B2B 시장에서의 성공사례로 글로벌 시장으로 역으로 적용될 수 있다는 점에 의의가 크다.

• 한국경영과학회지
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• 제10권1호
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• pp.31-40
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• 1985

When an economy has institutional price constraints the relationship between market prices and shadow prices is not yet fully investigated. A pure consumption economy is considered where market prices guide the consumption behavior and shadow prices measure the social value of resources. In this case we show that if the utility function is additively separable there exists a complementarity relation between the difference of the market price and the shadow price and the difference of the market price and the regulated upper (or lower) bound.

• 가정과삶의질연구
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• 제4권2호
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• pp.53-66
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• 1986

The prensent study was aimed to explore the reality of the low-income consumers problem by the comparison among five income classes. Specifically, this study was intended to (1) compare the levels of consumer skill, market risk, and consumer problem among the five income classes, (2) examine the relationship between consumer problem and consumer skill, and the relationship between consumer problem and market risk, and (3) search the types of consumer problems that each income class consumers might experience the most often. For this purpose, a survey was conducted using questionaire on 525 home managers in Seoul. The deta were analyzed by ANOVA and DMR test. The major findings were as follows; First, the consumer skill was the poorest in the low-income consumers. There was curvilinear relationship between consumer skill and income level. Second, the market risk was the highest in the low-income consumers. Market risk had a negative linear relationship with income level. Third, consumer problem was the most serious in the low-income consumers and was the least serious in the middle-income consumers. Fourth, the lower consumer skill and the higher market risk the consumers had, the more consumer problems they tended to experience. Finally, the low-income consumers had relatively more difficulties in door-to-door sale and inferior goods problem than the middle and the high-income consumers. On the other hand, the latter experienced relatively more difficulties in false and misleading advertising, overcharge, unfair bargain, and warrenty-repair-exchange problem than the former. Taken together, the research hypotheses were well supported in this study. It was suggested that the quality and the quantity of the low-income consumers problem were different from those of the middle-and the high-income consumers problem.