• Asia Marketing Journal
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• v.12 no.2
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• pp.111-133
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• 2010

Marketing financial services used to be easier. Today, the competition in financial services is fierce. Not only has the competition become more intense, financial services have also changed structurally. In an environment with various customer needs and severe competitions, the marketing in financial services industry is getting more difficult and more important than before. However, there are still not enough studies on financial services marketing in Korea whereas lots of research papers have been published frequently in some international journals. The purpose of this paper is (1)to review the literature on financial services marketing, (2)to investigate current marketing activities based on in-depth interview with financial marketing managers in Korea, and (3)to suggest some implications for future research on the financial services marketing. Financial products are not consumer products. In fact, they are not products at all in the way product marketing is usually described. Nor are they altogether like services. The financial industry operates in a unique way, and its marketing tasks are correspondingly complex. However, the literature review shows that there has been a lack of basic studies which dealt with inherent characteristics of financial services marketing compared to the research on marketing in other industries. Many studies in domestic marketing journals have so far focused only on the general customer behaviors and the special issues in some financial industries. However, for more effective financial services marketing, we have to answer following questions. Is there any difference between financial service marketing and consumer packaged goods marketing? What are the differences between the financial services marketing and other services marketing such as education and health services? Are there different ways of marketing among banks, securities firms, insurance firms, and credit card companies? In other words, we need more detailed research as well as basic studies about the financial services marketing. For example, we need concrete definitions of financial services marketing, bank marketing, securities firm marketing, and etc. It is also required to compare the characteristics of each marketing within the financial services industry. The products sold in each market have different characteristics such as duration and degree of risk-taking. It means that there are sub-categories in financial services marketing. We have to consider them in the future research on the financial services marketing. It is also necessary to study customer decision making process in the financial markets. There have been little research on how customers search and process information, compare alternatives, make final decision, and repeat their choices. Because financial services have some unique characteristics, we need different understandings in the customer behaviors compared to the behaviors in other service markets. And also considering the rapid growth in financial markets and upcoming severe competition between domestic and global financial companies, it is time to start more systematic and detailed research on financial services marketing in Korea. In the second part of this paper, I analyzed the results of in-depth interview with 20 marketing managers of financial services companies in Korea. As a result, I found that the role of marketing departments in Korean financial companies are mainly focused on the short-term activities such as sales support, promotion, and CRM data analysis although the size and history of marketing departments to some extent show a sign of maturity. Most companies established official marketing departments before 2001. Average number of employees in a marketing department is about 58. However, marketing managers in eight companies(40% of the sample) still think that the purpose of marketing is only to support and manage general sales activities. It shows that some companies have sales-oriented concept rather than marketing-oriented concept. I also found three key words which marketing managers think importantly in financial services markets. They are (1)Trust in customer relationship, (2)Brand differentiation, and (3)Rapid response to customer needs. 50% of the sample support that "Trust" is the most important key word in the financial services marketing. It is interesting that 80% of banks and securities companies think that "Trust" is the most important thing, whereas managers in credit card companies consider "Rapid response to customer needs" as the most important key word in their market. In addition, there are different problems recognition of marketing managers depending on the types of financial industries they belong to. For example, in the case of banks and insurance companies, marketing managers consider "a lack of communication with other departments" as the most serious problem. On the other hand, in the case of securities firms, "a lack of utilization of customer data" is the most serious problem. These results imply that there are different important factors for the customer satisfaction depending on the types of financial industries, and managers have to consider them when marketing financial products in more effective ways. For example, It will be necessary for marketing managers to study different important factors which affect customer satisfaction, repeat purchase, degree of risk-taking, and possibility of cross-selling according to the types of financial industries. I also suggested six hypothetical propositions for the future research.

• Journal of Korea Game Society
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• v.16 no.5
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• pp.45-56
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• 2016

This paper researches on the cases wherein the concept of gamification is applied to branded content. Gamification is the application of game elements to non-game fields, and it is being actively utilized in the areas of education, marketing, medical, sports, and shopping. Especially, the concept of gamification is applied to branded content and wherein marketing (advertisements) are expanded into entertainment content. This paper studies the methods on how the concept of gamification affects marketing, and application in the expansion of branded content into entertainment content. To achieve this, this paper looked into the concepts and characteristics of gamification and branded content, and analyzed the methods on how the elements of game (goal, competition, feedback, reward) were applied to five kinds of real cases. Finally, this paper verified that gamification is an efficient method of extending branded content into entertainment content.

• Asia Marketing Journal
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• v.17 no.1
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• pp.97-121
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• 2015

In this research, we examine whether and why temporal distance influences evaluations of two different types of brand extensions: concept-based extensions, defined as extensions primarily based on the importance or relevance of brand concepts to extension products; and similarity-based extensions, defined as extensions primarily based on the amount of feature similarity at the product-category level. In Study 1, we test the hypothesis that concept-based extensions are evaluated more favorably when they are framed to launch in the distant rather than in the near future, whereas similaritybased extensions are evaluated more favorably when they are framed to launch in the near rather than in the distant future. In Study 2, we confirm that this time-dependent differential evaluation is driven by the difference in construal level between the bases of the two types of extensions - i.e., brand-concept consistency and product-category feature similarity. As such, we find that conceptbased extensions are evaluated more favorably under the abstract than concrete mindset, whereas similarity-based extensions are evaluated more favorably under the concrete than abstract mindset. In Study 3, we extend to the case for a broad brand (i.e., brands that market products across multiple categories), finding that making accessible a specific product category of a broad parent brand influences evaluations of near-future, but not distant-future, brand extensions. Combined together, our findings suggest that temporal distance influences brand extension evaluation through its effect on the importance placed on brand concepts and feature similarity. That is, consumers rely on different bases to evaluate brand extensions, depending on their perception of when the extensions take place and on under what mindset they are placed. This research makes theoretical contributions to the brand extension research by identifying one important determinant to brand extension evaluation and also uncovering its underlying dynamics. It also contributes to expanding the scope of the construal level theory by putting forth a novel interpretation of two bases of perceived fit in terms of construal level. Marketers who are about to launch and advertise brand extensions may benefit by considering temporal-distance information in determining what content to deliver about extensions in their communication efforts. Conceptual relation of a parent brand to extensions needs to be emphasized in the distant future, whereas feature similarity should be highlighted in the near future.

• Journal of the Korea Society of Computer and Information
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• v.12 no.2 s.46
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• pp.197-207
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• 2007

This thesis suggested that the 'customized' marketing would be a new strategy in terms of a marketing in the digital media age under the circumstances where a form of marketing was evolving in accordance with the convergence of digital media. Because of the media environment due to an 'individualization', the strategy would meet an individual demand of a consumer in a rapidly changing environment. The best marketing to capture a 'customer's heart' is not a brand that first entered the market, but the one that is first settled in a customer's heart. If a differentiated interactive marketing strategy is equipped, it is possible to capture a completely new market space ad create a profit over several years. In the aspect of an effect of a digital marketing, first, a concept relating to an interaction between a consumer and a producer is important. Secondly, the important one is an empathy marketing which is an emotional marketing through a brand image beyond a product. Thirdly, the author studied an orally transmitted marketing effect through digital media.

• Korean Association of Arts Management
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• no.51
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• pp.75-102
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• 2019

This study aims to figure out the progression of Hyundai motor's corporate cultural marketing by conducting semantic network analysis. Although the previous research has focused on conception, categorization, impact, and performance of cultural marketing, they hardly pay attention to changes in cultural marketing over time. To explore the identified gap, we collected 2,315 articles concerning Hyundai motor's cultural marketing on daily newspapers printed from 2001 to 2018. The 18-year time period was classified into four periods, and lists of words were extracted and analyzed by Korean language analysis program, Textom and social network analysis program, called 'UCINET'. The outcome of our analysis indicates that Hyundai Motor's cultural marketing has been developed from the strategy of merely increasing sales to the means of distinguishing their corporate and brand identity. In the early 2000s, the words 'customer', 'The Age of Great Paintings: Rembrandt and the 17th century Dutch paintings', and 'performances' were extracted with high frequency. It shows Hyundai Motor held performance-oriented events and provided benefits to specific consumer groups under the type of 'Cultural Promotion'. In addition, as the exhibition sponsored by Hyundai motor was reported in the media with high publicity effect, the concept of 'Cultural Support' is also emerged. In the late 2000s, the top exposures were 'Seoul Arts Center' and 'Seoul Metropolitan Symphony Orchestra'. Under the concept of 'Cultural Support', both organizations and cultural events were sponsored by Hyundai motor. Hyundai Motor has the tendency to cooperate with high profile parties who have already accomplished high publicities to attract social interests and issues. In the early 2010s, Hyundai Motor created cultural marketing brand and space ('Brilliant' and 'Hyundai Art Hall') that broadened the potential target groups, which represented both 'Cultural Support' and 'Cultural Enterprise'. In the middle and late of the 2010s, as shown by the high frequency of 'brand' and 'global', Hyundai Motor has focused on the global market and viewpoint has expanded to brand building focusing on the type of 'Cultural Enterprise'.

• Culinary science and hospitality research
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• v.11 no.1
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• pp.18-29
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• 2005

The study is to find the relationship between brand concept consistency and the consumer attitude toward the extended brand and the moderating roles of knowledge, involvement and typicality on their relationships in the food-service industry. In the severely competitive market, brand extension strategy has become a key strategy to the companies that are trying to expand in the new market and to cut down the marketing cost. First , the similarity which is measured by consistency of brand concept has a positive effect on the consumer attitude toward the extended brand. Second, the knowledge on the original brand has moderating effect on the relationship between consistency of brand concept and the consumer attitude toward the extended brand. More knowledge brings on more favorable attitudes.

• Korean Institute of Interior Design Journal
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• v.21 no.2
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• pp.123-132
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• 2012

In the trend of concentrating on the consumer driven experience market as a new marketing concept according to the improvement of life standard and the change of consummation pattern, SPA brand has applied experience marketing strategies to the market successfully to be grown constantly with consumer secure and production of business benefit through brand image and positive consumer attraction. Therefore, this study aims to research the experiential representation element and attribute in the competitive Global SPA brand space due to the sustainable growth from the recent domestic fashion market based on the strategy type of the experiential marketing. Thus, the experiential marketing strategy type was drawn based on the experiential marketing and the theoretical reflections of Global SPA brand, and the SPA brand space was classified depending on the attribute of the commercial space for making the framework of case analysis, so it was progressed as the method of analysis through the experiential representation attribute in the SPA brand space. The marketing strategy and representation for advertising the image of company and product message by the SPA brand should be planned, so successful application of the experiential marketing to the shop is connected to the corporate interests, and forming the meaning more than space by impressing on the consumers the brand and arousing the emotional experience of the consumers and meeting the consumers' a variety of needs had effects on forming a lasting relationship between the brand and consumers. Therefore, this study is expected to be an opportunity to vitalize the domestic SPA brand behind the competition with the Global SPA brand.

• Archives of design research
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• v.19 no.1 s.63
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• pp.5-14
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• 2006

This is the follow-up research on aesthetic review for Korean wrestling uniform design and deals with practical design evolvement of Korean wrestling uniform. The process and contents of the research was based on the outcome of the ground research. I studied Japanese wrestling and marketing strategy of its uniform, which enjoy added value as well as elevated worth as cultural item, and then compared it with our traditional wrestling. In addition, I divided practical designs into color, material and style according to concept for further research. The most important factor in designing traditional wrestling uniform can be found in harmonization of tradition and modernism. It is essential to operate and manage design in consistent and systematic way that can harmonize with modern sports marketing and designs, which contains national sentiment and contemporary mind. Designing Korean wrestling uniform with consistent concept based on aesthetic parts of Korean wrestling uniform, this research is meaningful as an exemplary for traditional and cultural item design as well as national costume.

• Journal of the Korean housing association
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• v.18 no.5
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• pp.113-120
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• 2007

The purpose of this study is an analysis about space of housing cultural center with the marketing based on experience. By changing housing market, housing cultural center is a place to give an information, added value, image of housing. Consumers who experience a housing cultural center have an effect on purchase an apartment. The image of enterprise is important to select commodities to consumers. Today, company's brand image and concept include womanish, worthy and, sensual those. Under these views, housing cultural center should have continuous culture spaces that provide various experiential chance for consumers. The methods of this study are an analysis of brand image, analysis and application of experiential elements for housing cultural center. The results of this study have five parts. First, in Sense part, there are presented the sense of sight, smell and touch include material's color, finishing material, sound and etc. Second, in Feel part, consumers feel friendly and comfortable to brand through synesthesia. And they have a liberal mind about brand. Third, in Think part, consumers can experience a brand's image as a subject of event or space. Forth, in Act part, consumer is acted to scale of a space and aim of exhibition. Finally, in Relation part, consumers can have relation each other who visit Housing cultural center. And they can joint for interchange of information, culture enjoyment. In conclusion, this study has a great value of graft marketing view on the planning of Housing cultural center.

• Journal of the Korea Furniture Society
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• v.27 no.4
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• pp.399-411
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• 2016

Korea Furniture design development process is repeated a number of changes by the change of residence and type of market demand derived from the process of industrialization. The modernization process of industrialization advances by large-scale population moves to the city to urbanization proceeds rapidly. Housing problems are concentrated in cities and sparked the furniture industry, furniture design by changes in marketing concepts that appear in the industrialization phase, growth must necessarily accommodate the needs of consumers. Including kitchen furniture, living room furniture and master bedroom furniture has been sensitively adapted changes in the structure of these houses, particularly structural changes Apartments. Starting in the 1990s, jumping over furniture industry has adapted quickly to the market demand, changes in marketing concepts. Furniture industry is growing market share in most of the country, but the entire industry had to undergo a competitive marketing overheating due to excessive supply in excess of market demand since the mid-1990s. Changes in furniture design in this process was the change in furniture design more than the change of the residential structure. The study industrial development and marketing concepts are changing to construct a model to track the changes varied styles and time changes affect whether the main furniture design.