• Asia Marketing Journal
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• v.11 no.1
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• pp.39-72
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• 2009

With the growing importance of accountability, it is getting necessary to test the impact of marketing expenditure on marketing performance. Including recent ROM, we can find a few researches about marketing accountability. But there are a few problems about definitions and metric of marketing expenditure and marketing performance. Therefore, by defining and analyzing the impact of marketing expenditure on marketing performance, we are going to set the classification scheme of marketing expenditure and marketing performance. Based on research findings, new definitions and metrics are proposed as follows. First, we suggest the classification scheme of marketing expenditure. Marketing expenditure is defined as expense accounts in the balance sheet for doing marketing tasks. Marketing expenditures includes many accounts, for example, marketing research, advertising, sales promotion, foreign market development, physical distribution, after services. Among these marketing investment, advertising expenses have a positive effect on marketing performance. Second, we suggest the classification scheme of marketing performance. Already, marketing performance has been defined as financial metrics, customer metrics, market metrics, and corporate social responsibility. But, in this study, we find that the process model is not relevant for explaining association between the performance metrics. The process model is a virtuous cycle: "customer metrics→market metrics→financial metrics→firm valuation metrics." But, in this study, it is not supported or a little significant association between these metrics. Based on these results, we suggest the balance model or flower model as the classification scheme of marketing performance.

• Asia-Pacific Journal of Business
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• v.2 no.2
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• pp.1-35
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• 2011

Facing information overload in today's complex environments, managers look to a concise set of marketing metrics to provide direction for marketing decision making. While there have been several papers dealing with the theoretical aspects of dashboard creation, no research creates and tests a dashboard using scientific techniques. This study develops and demonstrates an empirical approach to dashboard metric selection. In a fast moving consumer goods category, this research selects leading indicators for national-brand and store-brand sales and revenue premium performance from 99 brand-specific and relative-to-competition variables including price, brand equity, usage occasions, and multiple measures of awareness, trial/usage, purchase intent, and liking/satisfaction. Plotting impact size and wear-in time reveals that different kinds of variables predict sales at distinct lead times, which implies that managerial action may be taken to turn the metrics around before performance itself declines.

• Journal of Internet Computing and Services
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• v.8 no.5
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• pp.151-160
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• 2007

A datawarehouse which extracts and saves the massive analysis data is used for marketing and decision support of business. However, the datawarehouse has the problem of increasing the process time and cost as well as has a high risk of process errors because it integrates vast amount of data from distributed environments. Thus, we propose a metrics for measurement in the area of productivity, process quality and data quality. Also through the evaluation using the proposed metrics, we show that our proposal provides productivity enhancement and process improvement.

• Journal of the Ergonomics Society of Korea
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• v.29 no.4
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• pp.647-654
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• 2010

In a service environment, the spatial layout is an important factor that has a great impact on customers' behavioral characteristics including wayfinding and purchasing. Previous studies have shown a gap between marketing, focusing solely on profitability and satisfaction, and architecture, looking only into efficiency of pedestrian flow. To balance such disparity, this study suggests an integrated approach for assessing behavioral patterns in complex service environments. With the objective that complex service environments should aim to increase its profitability and efficiency while guaranteeing customer satisfaction, quantitative metrics was developed for evaluation. The metrics was defined to use data from behavior observation including path tracking, population counting, and gaze analysis, while previous studies have relied on abstract survey methods that were prone to sampling errors and loss of data. For validation of the metrics in a real world setting, a case study was conducted at 4 train stations in Korea. In the case study, experiments were conducted to gather the required data in all 4 train stations, while their physical layouts were also analyzed. With the results from the case study, comparative evaluation of the 4 train stations in terms of behavioral efficiency was possible, together with a discussion on the effect of their physical settings.

• Asia Marketing Journal
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• v.15 no.3
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• pp.53-77
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• 2013

As advertising and promotions are categorized as operating expenses, managers tend to reduce marketing budget to improve their short term profitability. Gauging the value and accountability of marketing spending is therefore considered as a major research priority in marketing. To respond this call, recent studies have documented that financial market reacts positively to a firm's marketing activity or marketing related outcomes such as brand equity and customer satisfaction. However, prior studies focus on the relation of marketing variable and financial market variables. This study suggests a channel about how marketing activity increases firm valuation. Specifically, we propose that a firm's marketing activity increases the level of the firm's product market information and thereby the dispersion in financial analysts' earnings forecasts decreases. With less uncertainty about the firm's future prospect, the firm's managers and shareholders have less information asymmetry, which reduces the firm's cost of capital and thereby increases the valuation of the firm. To our knowledge, this is the first paper to examine how informational benefits can mediate the effect of marketing activity on firm value. To test whether marketing activity contributes to increase in firm value by mitigating information asymmetry, this study employs a longitudinal data which contains 12,824 firm-year observations with 2,337 distinct firms from 1981 to 2006. Firm value is measured by Tobin's Q and one-year-ahead buy-and-hold abnormal return (BHAR). Following prior literature, dispersion in analysts' earnings forecasts is used as a proxy for the information gap between management and shareholders. For model specification, to identify mediating effect, the three-step regression approach is adopted. All models are estimated using Markov chain Monte Carlo (MCMC) methods to test the statistical significance of the mediating effect. The analysis shows that marketing intensity has a significant negative relationship with dispersion in analysts' earnings forecasts. After including the mediator variable about analyst dispersion, the effect of marketing intensity on firm value drops from 1.199 (p < .01) to 1.130 (p < .01) in Tobin's Q model and the same effect drops from .192 (p < .01) to .188 (p < .01) in BHAR model. The results suggest that analysts' forecast dispersion partially accounts for the positive effect of marketing on firm valuation. Additionally, the same analysis was conducted with an alternative dependent variable (forecast accuracy) and a marketing metric (advertising intensity). The analysis supports the robustness of the main results. In sum, the results provide empirical evidence that marketing activity can increase shareholder value by mitigating problem of information asymmetry in the capital market. The findings have important implications for managers. First, managers should be cognizant of the role of marketing activity in providing information to the financial market as well as to the consumer market. Thus, managers should take into account investors' reaction when they design marketing communication messages for reducing the cost of capital. Second, this study shows a channel on how marketing creates shareholder value and highlights the accountability of marketing. In addition to the direct impact of marketing on firm value, an indirect channel by reducing information asymmetry should be considered. Potentially, marketing managers can justify their spending from the perspective of increasing long-term shareholder value.

• Asia Marketing Journal
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• v.15 no.1
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• pp.169-188
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• 2013

Established in 2006 as the forward integration effort by Taesung Industry, the major cosmetic packaging company, TONYMOLY has phenomenally grown to one of the major cosmetic brand companies in the submarket called, 'one brand-shop' of cosmetic market since 2008, after overcoming the crisis of 'going out of business' in a couple of early years. Within a relatively short period of time, TONYMOLY's performances have dramatically improved in terms of metrics such as growth in sales revenue, the number of stores, the average sales per store, transaction value per customer, the number of monthly transactions, the number of membership-based customers, and overseas sales. In this case study, we have examined TONYMOLY's recent marketing activities which may explain the plausible reasons behind the substantial growth of a small but smart cosmetic company. Above all, the first key success factor of TONYMOLY would be found in its adherence to the clear philosophy of the customer value proposition and/or the differentiated position of TONYMOLY as a brand of providing value. Second, this brand concept of value was first penetrated and welcomed among the foothold customer target group of mid and late teens with appropriate products, while the target groups were later expanded into the age group of twenties along with expansion of relevant products. Third, its differentiation efforts have been concrete and meaningful by utilizing unique ingredients in its product development and marketing efforts, unique fun packaging, and continuously introducing new hit-selling products as well as managing steady-selling products. Fourth, TONYMOLY has been smart enough to use its limited marketing money efficiently and effectively in its marketing communication activities. Viral marketing, PPL, and concentrated media planning and execution turned out to produce effective and efficient market-based performances such as awareness, word-of-mouth, and sales. Lastly, the marketing leadership of CEO and top management, emphasizing communications and interactions, was confirmed in the relationship quality with and trust level of its franchisees and internal employees. These key success factors may explain the recent phenomenal market performances of TONYMOLY. Despite recent successes, the major issues are presented for TONYMOLY to consider for maintaining its sustainable advantages and growth. The first issue concerns TONYMOLY's choice of growth philosophy between product/brand-centric marketing and customer-centric marketing. The second challenging issue relates to how TONYMOLY can cope with 'growing pains' plausibly accompanied with the rapid growth.

• International Journal of Internet, Broadcasting and Communication
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• v.15 no.1
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• pp.150-156
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• 2023

In a recent study, the phenomena of attention being drawn to the media business, particularly over-the-top (OTT) services, was the focus. Particularly, after the Squid Game was broadcast in September 2021, the total number of Netflix users had topped 213.6 million since the company first entered the domestic market. Domestic companies have also introduced OTT services like 'Wave', 'Tving', and 'Watcha Play' to capitalize on this market trend. However, questions persist about how Korea's native OTT providers, both large and small, are being harmed by Netflix's strong financial position and massive content quantity. In order to offer realistic performance metrics, we analyze Coupang Play among domestic OTT service providers after reviewing the business model and management strategy of representative OTT service firms.

• Communications for Statistical Applications and Methods
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• v.15 no.6
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• pp.925-937
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• 2008

In this study, we considered the clustering analysis for stock return traded in the stock market. Most of financial time-series data, for instance, stock price and exchange rate have conditional heterogeneous variability depending on time, and, hence, are not properly applied to the autoregressive moving-average(ARMA) model with assumption of constant variance. Moreover, the variability is font and center for stock investors as well as academic researchers. So, this paper focuses on the generalized autoregressive conditional heteroscedastic(GARCH) model which is known as a solution for capturing the conditional variance(or volatility). We define the metrics for similarity of unconditional volatility and for homogeneity of model structure, and, then, evaluate the performances of the metrics. In real application, we do clustering analysis in terms of volatility and structure with stock return of the 11 Korean companies measured for the latest three years.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.20 no.12
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• pp.2379-2386
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• 2016

This study conducted an analysis using IPA metrics targeting college students to get strategic implications for marketing in the recently fast-growing mobile shopping market. The IPA analysis result about the selection of mobile shopping malls is as follows. First, out of the 21 features, 'reliability of the offered products(6.09)' had the highest level of importance and 'convenience of payment(5.29)' had the highest level of performance. Second, in the area of 'Doing great, Keep it up' 11 features were included such as 'convenience of payment' and 'reliability of the offered products'. Third, the feature that needed to be corrected in the area of 'Focus here' was 'shortening the waiting time for exchange, refund or warranty service'. Fourth, low priority areas in terms of importance and performance, there were 3 features including 'push/notification helps purchases'. Fifth, to the area of 'overdone' 4 features belonged such as 'variety in the type of products'.

• Culinary science and hospitality research
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• v.23 no.7
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• pp.1-10
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• 2017

This study proposed SNS big data analysis method of food service industry in the 4th industrial revolution. This study analyzed the keyword of the fourth industrial revolution by using Google trend. Based on the data posted on the SNS from January 1, 2016 to September 5, 2017 (1 year and 8 months) utilizing the "Social Metrics". Through the social insights, the related words related to cooking were analyzed and visualized about attributes, products, hobbies and leisure. As a result of the analysis, keywords were found such as cooking, entrepreneurship, franchise, restaurant, job search, Twitter, family, friends, menu, reaction, video, etc. As a theoretical implication of this study, we proposed how to utilize big data produced from various online materials for research on restaurant business, interpret atypical data as meaningful data and suggest the basic direction of field application. In order to utilize positioning of customers of restaurant companies in the future, this study suggests more detailed and in-depth consumer sentiment as a basic resource for marketing data development through various menu development and customers' perception change. In addition, this study provides marketing implications for the foodservice industry and how to use big data for the cooking industry in preparation for the fourth industrial revolution.