• Korean journal of food and cookery science
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• v.6 no.4 s.13
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• pp.69-83
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• 1990

Gynostemma pentaphyllum Makino is a kind of perennial liana plant belonging to the Cucurbitaceae family. Since it was first discovered and reported to the Japanese academy in 1977, it came to be widely known to China and Southeast Asia areas as well as Japan. In Korea its name began to appear in the first half of 1980's, and it is now being nationwidely cultivated and popularized as tea stuffs. Gynostemma pentaphyllum Makino has remarkably strong propagation power. In addition. since it contains a great quantity of beneficial components, especially saponin it is believed to have excellent medical effects, too. This study was undertaken to examine the value of Gynostemma pentaphyllum Makino as a health-promotint tea, by investigating the components creating the flaver of tea and the saponin ingredient making medical effects as well as by inspecting whether Gynostemma pentaphyllum Makino products show different component arrangements according to their growing districts. As raw materials of the experiment, three kinds of Gynostemma pentaphyllum Makino samples produced in Suwon, Geochang and Uleungdo were taken. To accomplish the formerly stated goals, the contained quantity of the proximate composition, free sugar, reducing sugar, free amino acid, minerals, tannin, caffeine and vitamin C were measured respectively and compared between the samples, while the saponin content was compared with heat extracted from panax ginseng. The results of the experiment are as follows: 1. In the case of the proximate composition, the crude fat content was the highest in the Gymostemma pentaphyllum Makino material from Geochang (1.62%), the second in that from Suwon (1.56%), and the lowest in that from Uleungdo (1.0%). In addition the Geochang: produced sample had the greatest quantity of the crude protein and ash contents: the order of the crude Protein content was the Geochang produced (17.83%), the Suwon-produced (15.87%), and the Uleungdo-produced(12.28%), while that of the ash content was the Geochang-produced (14.80%), the Uleungdo-produced(10.17%), and the Suwon-produced(9.34%). 2. As for the reducing sugar contents, the Suwon-produced scored the highest of the three (3.3%), while the Geochang-produced was 1.3% and the Uleungdo-produced 0.5%. The total content of free sugar was 1.07% (the Suwon-produced), and 0.49% (the Geochang-produced) respectively but the sample from Uleungdo showed almost no free sugar content. The contained quantity of fructose and glucose was the highest among the kinds of free sugar both in the Suwon-produced and in the Geochang-produced. 3. The content of amino acid was the highest in the Suwon-produced(1.41%), the second in the Geochang-produced(1.37%), and the lowest in the Uleungdo-produced(0.53%). In the experiment, sixteen kinds of amino acid were extracted-Asp. Thr. Ser. Glu. Gly. Ala. Val. Het. Ileu. Leu. Tyr. Phe. Lys. His. Arg. Try. All of them except glutamic acid and methionine showed the highest quantity score in the Suwon-produced, while the glutamic acid content was the higest in the Uleungdo-produced and the methionine content in the Geochang-produced. The sequential arrangement of the sixteen contents according to their magnitude ranged from glycine, aspartic acid, and glutamic acid (the highest) to tryptophan, serine and lysine (the lowest). 4. Ten kinds of mineral were detected-Ca, Mn, Cd, K, Na, Pb, Mg, Fe, Zn, Cu. Among them, the content of Cd, Na, Mg, Zn and Fe was the highest in the Geochang-produced and that of K in the Suwon-produced. 5. The Geochang-produced materials contained much a larger quantity of tannin (6.3%) than the Suwon-produced (2.6%). Neither caffeine nor vitamin C was detected in the three kinds of materials. 6. In the case of the saponin content the Geochang-produced showd 2.39%, the Uleungdo-produced 1.77% and the Suwon-produced 1.49% respectively. However, it was found also that the saponin content of Gymostemma pentaphyllum Makino was the same kind as that of panax ginseng.

• Progress in Medical Physics
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• v.18 no.2
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• pp.81-86
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• 2007

The cone-beam CT (CBCT) which is acquired using on-board imager (OBI) attached to a linear accelerator is widely used for the image guided radiation therapy. In this study, the effect of respiratory motion on the quality of CBCT image was evaluated. A phantom system was constructed in order to simulate respiratory motion. One part of the system is composed of a moving plate and a motor driving component which can control the motional cycle and motional range. The other part is solid water phantom containing a small cubic phantom ($2{\times}2{\times}2cm^3$) surrounded by air which simulate a small tumor volume in the lung air cavity CBCT images of the phantom were acquired in 20 different cases and compared with the image in the static status. The 20 different cases are constituted with 4 different motional ranges (0.7 cm, 1.6 cm, 2.4 cm, 3.1 cm) and 5 different motional cycles (2, 3, 4, 5, 6 sec). The difference of CT number in the coronal image was evaluated as a deformation degree of image quality. The relative average pixel intensity values as a compared CT number of static CBCT image were 71.07% at 0.7 cm motional range, 48.88% at 1.6 cm motional range, 30.60% at 2.4 cm motional range, 17.38% at 3.1 cm motional range The tumor phantom sizes which were defined as the length with different CT number compared with air were increased as the increase of motional range (2.1 cm: no motion, 2.66 cm: 0.7 cm motion, 3.06 cm: 1.6 cm motion, 3.62 cm: 2.4 cm motion, 4.04 cm: 3.1 cm motion). This study shows that respiratory motion in the region of inhomogeneous structures can degrade the image quality of CBCT and it must be considered in the process of setup error correction using CBCT images.

• Tuberculosis and Respiratory Diseases
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• v.52 no.1
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• pp.24-36
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• 2002

Background: Bronchial reactivity is known to be a component of airway hyperresponsiveness, a cardinal feature of asthma, with bronchial sensitivity, and is increments in response to induced doses of bronchoconstrictors as manifested by the steepest slope of the dose-response curve. However, there is some controversy regarding methods of measuring bronchial reactivity and clinical impact of such measurements. The purpose of this study was to evaluate the clinical significance and assess the clinical use by analyzing the relationship of the bronchial sensitivity, the clinical severity and the changes in pulmonary function with bronchial reactivity. Method: A total of 116 subjects underwent a methacholine bronchial provocation test. They were divided into 3 groups : mild intermittent, mild persistent, moderate and cough asthma. Severe patients were excluded. Methacholine PC20 was determined from the log dose-response curve and PC40 was determined by one more dose inhalation after PC20. The steepest slope of log dose-response curve, connecting PC20 with PC40, was used to calculate the bronchial reactivity. Body plethysmography and a single breath for the DLCO were done in 43 subjects before and after methacholine test. Results: The average bronchial reactivity was 38.0 in the mild intermittent group, 49.8 in the mild persistent group, 61.0 in the moderate group, and 41.1 in the cough asthma group. There was a weak negative correlation between PC20 and bronchial reactivity. A heightened bronchial reactivity tends to produce an increased clinical severity in patients with a similar bronchial sensitivity and basal spirometric pulmonary function. There were significant correlations between the bronchial reactivity and the initial pulmonary function before the methacholine test in the order of sGaw, Raw, $FEV_1$/FVC, MMFR. There were no correlations between the bronchial sensitivity and the % change in the pulmonary function parameters after the methacholine test. However, there were significant correlations between the bronchial reactivity and the PEF, $FEV_1$, DLCO. Conclusion: There was weak significant negative correlation between the bronchial reactivity and the bronchial sensitivity, and the bronchial reactivity closely reflected the severity of the asthma. Accordingly, measuring both the bronchial sensitivity and the bronchial reactivity can be of assistance in assessing of the ongoing disease severity and in monitoring the effect of therapy.

• Journal of Ginseng Research
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• v.26 no.3
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• pp.111-131
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• 2002

Korean ginseng (Panax ginseng C.A. Meyer) received a great deal of attention from the Orient and West as a tonic agent, health food and/or alternative herbal therapeutic agent. However, controversy with respect to scientific evidence on pharmacological effects especially, evaluation of clinical efficacy and the methodological approach still remains to be solved. Author reviewed those articles published since 1980 when pharmacodynamic studies on ginseng have intensively started. Special concern was paid on metabolic disorders including diabetes mellitus, circulatory disorders, malignant tumor, sexual dysfunction, and physical and mental performance to give clear information to those who are interested in pharmacological study of ginseng and to promote its clinical use. With respect to chronic diseases such as diabetes mellitus, atherosclerosis, high blood pressure, malignant disorders, and sexual disorders, it seems that ginseng plays preventive and restorative role rather than therapeutics. Particularly, ginseng plays a significant role in ameliorating subjective symptoms and preventing quality of life from deteriorating by long term exposure of chemical therapeutic agents. Also it seems that the potency of ginseng is mild, therefore it could be more effective when used concomitantly with conventional therapy. Clinical studies on the tonic effect of ginseng on work performance demonstrated that physical and mental dysfunction induced by various stresses are improved by increasing adaptability of physical condition. However, the results obtained from clinical studies cannot be mentioned in the indication, which are variable upon the scientist who performed those studies. In this respect, standardized ginseng product and providing planning of the systematic clinical research in double-blind randomized controlled trials are needed to assess the real efficacy for proposing ginseng indication. Pharmacological mode of action of ginseng has not yet been fully elucidated. Pharmacodynamic and pharmacokinetic researches reveal that the role of ginseng not seem to be confined to a given single organ. It has been known that ginseng plays a beneficial role in such general organs as central nervous, endocrine, metabolic, immune systems, which means ginseng improves general physical and mental conditons. Such multivalent effect of ginseng can be attributed to the main active component of ginseng,ginsenosides or non-saponin compounds which are also recently suggested to be another active ingredients. As is generally the similar case with other herbal medicines, effects of ginseng cannot be attributed as a given single compound or group of components. Diversified ingredients play synergistic or antagonistic role each other and act in harmonized manner. A few cases of adverse effect in clinical uses are reported, however, it is not observed when standardized ginseng products are used and recommended dose was administered. Unfavorable interaction with other drugs has also been suggested, which the information on the products and administered dosage are not available. However, efficacy, safety, interaction or contraindication with other medicines has to be more intensively investigated in order to promote clinical application of ginseng. For example, daily recommended doses per day are not agreement as 1-2g in the West and 3-6 g in the Orient. Duration of administration also seems variable according to the purpose. Two to three months are generally recommended to feel the benefit but time- and dose-dependent effects of ginseng still need to be solved from now on. Furthermore, the effect of ginsenosides transformed by the intestinal microflora, and differential effect associated with ginsenosides content and its composition also should be clinically evaluated in the future. In conclusion, the more wide-spread use of ginseng as a herbal medicine or nutraceutical supplement warrants the more rigorous investigations to assess its effacy and safety. In addition, a careful quality control of ginseng preparations should be done to ensure an acceptable standardization of commercial products.

• Journal of Intelligence and Information Systems
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• v.20 no.3
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• pp.109-131
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• 2014

As the demand of nuclear power plant equipment is continuously growing worldwide, the importance of handling nuclear strategic materials is also increasing. While the number of cases submitted for the exports of nuclear-power commodity and technology is dramatically increasing, preadjudication (or prescreening to be simple) of strategic materials has been done so far by experts of a long-time experience and extensive field knowledge. However, there is severe shortage of experts in this domain, not to mention that it takes a long time to develop an expert. Because human experts must manually evaluate all the documents submitted for export permission, the current practice of nuclear material export is neither time-efficient nor cost-effective. Toward alleviating the problem of relying on costly human experts only, our research proposes a new system designed to help field experts make their decisions more effectively and efficiently. The proposed system is built upon case-based reasoning, which in essence extracts key features from the existing cases, compares the features with the features of a new case, and derives a solution for the new case by referencing similar cases and their solutions. Our research proposes a framework of case-based reasoning system, designs a case-based reasoning system for the control of nuclear material exports, and evaluates the performance of alternative keyword extraction methods (full automatic, full manual, and semi-automatic). A keyword extraction method is an essential component of the case-based reasoning system as it is used to extract key features of the cases. The full automatic method was conducted using TF-IDF, which is a widely used de facto standard method for representative keyword extraction in text mining. TF (Term Frequency) is based on the frequency count of the term within a document, showing how important the term is within a document while IDF (Inverted Document Frequency) is based on the infrequency of the term within a document set, showing how uniquely the term represents the document. The results show that the semi-automatic approach, which is based on the collaboration of machine and human, is the most effective solution regardless of whether the human is a field expert or a student who majors in nuclear engineering. Moreover, we propose a new approach of computing nuclear document similarity along with a new framework of document analysis. The proposed algorithm of nuclear document similarity considers both document-to-document similarity (${\alpha}$) and document-to-nuclear system similarity (${\beta}$), in order to derive the final score (${\gamma}$) for the decision of whether the presented case is of strategic material or not. The final score (${\gamma}$) represents a document similarity between the past cases and the new case. The score is induced by not only exploiting conventional TF-IDF, but utilizing a nuclear system similarity score, which takes the context of nuclear system domain into account. Finally, the system retrieves top-3 documents stored in the case base that are considered as the most similar cases with regard to the new case, and provides them with the degree of credibility. With this final score and the credibility score, it becomes easier for a user to see which documents in the case base are more worthy of looking up so that the user can make a proper decision with relatively lower cost. The evaluation of the system has been conducted by developing a prototype and testing with field data. The system workflows and outcomes have been verified by the field experts. This research is expected to contribute the growth of knowledge service industry by proposing a new system that can effectively reduce the burden of relying on costly human experts for the export control of nuclear materials and that can be considered as a meaningful example of knowledge service application.

• Journal of Intelligence and Information Systems
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• v.20 no.1
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• pp.163-176
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• 2014

Social media is becoming the platform for users to communicate their activities, status, emotions, and experiences to other people. In recent years, microblogs, such as Twitter, have gained in popularity because of its ease of use, speed, and reach. Compared to a conventional web blog, a microblog lowers users' efforts and investment for content generation by recommending shorter posts. There has been a lot research into capturing the social phenomena and analyzing the chatter of microblogs. However, measuring television ratings has been given little attention so far. Currently, the most common method to measure TV ratings uses an electronic metering device installed in a small number of sampled households. Microblogs allow users to post short messages, share daily updates, and conveniently keep in touch. In a similar way, microblog users are interacting with each other while watching television or movies, or visiting a new place. In order to measure TV ratings, some features are significant during certain hours of the day, or days of the week, whereas these same features are meaningless during other time periods. Thus, the importance of features can change during the day, and a model capturing the time sensitive relevance is required to estimate TV ratings. Therefore, modeling time-related characteristics of features should be a key when measuring the TV ratings through microblogs. We show that capturing time-dependency of features in measuring TV ratings is vitally necessary for improving their accuracy. To explore the relationship between the content of microblogs and TV ratings, we collected Twitter data using the Get Search component of the Twitter REST API from January 2013 to October 2013. There are about 300 thousand posts in our data set for the experiment. After excluding data such as adverting or promoted tweets, we selected 149 thousand tweets for analysis. The number of tweets reaches its maximum level on the broadcasting day and increases rapidly around the broadcasting time. This result is stems from the characteristics of the public channel, which broadcasts the program at the predetermined time. From our analysis, we find that count-based features such as the number of tweets or retweets have a low correlation with TV ratings. This result implies that a simple tweet rate does not reflect the satisfaction or response to the TV programs. Content-based features extracted from the content of tweets have a relatively high correlation with TV ratings. Further, some emoticons or newly coined words that are not tagged in the morpheme extraction process have a strong relationship with TV ratings. We find that there is a time-dependency in the correlation of features between the before and after broadcasting time. Since the TV program is broadcast at the predetermined time regularly, users post tweets expressing their expectation for the program or disappointment over not being able to watch the program. The highly correlated features before the broadcast are different from the features after broadcasting. This result explains that the relevance of words with TV programs can change according to the time of the tweets. Among the 336 words that fulfill the minimum requirements for candidate features, 145 words have the highest correlation before the broadcasting time, whereas 68 words reach the highest correlation after broadcasting. Interestingly, some words that express the impossibility of watching the program show a high relevance, despite containing a negative meaning. Understanding the time-dependency of features can be helpful in improving the accuracy of TV ratings measurement. This research contributes a basis to estimate the response to or satisfaction with the broadcasted programs using the time dependency of words in Twitter chatter. More research is needed to refine the methodology for predicting or measuring TV ratings.

• Asia pacific journal of information systems
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• v.23 no.4
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• pp.53-84
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• 2013

With rapid development of ICT (Information and Communications Technology), new services by the convergence of mobile network and application technology began to appear. Today, smart phone with new ICT convergence network capabilities is exceedingly popular and very useful as a new tool for the development of business opportunities. Previous studies based on Technology Acceptance Model (TAM) suggested critical factors, which should be considered for acquiring new customers and maintaining existing users in smart phone market. However, they had a limitation to focus on technology acceptance, not value based approach. Prior studies on customer's adoption of electronic utilities like smart phone product showed that the antecedents such as the perceived benefit and the perceived sacrifice could explain the causality between what is perceived and what is acquired over diverse contexts. So, this research conceptualizes perceived value as a trade-off between perceived benefit and perceived sacrifice, and we need to research the perceived value to grasp user's continuous intention to use of smart phone. The purpose of this study is to investigate the structured relationship between benefit (quality, usefulness, playfulness) and sacrifice (technicality, cost, security risk) of smart phone users, perceived value, and continuous intention to use. In addition, this study intends to analyze the differences between two subgroups of smart phone users by the degree of personal innovativeness. Personal innovativeness could help us to understand the moderating effect between how perceptions are formed and continuous intention to use smart phone. This study conducted survey through e-mail, direct mail, and interview with smart phone users. Empirical analysis based on 330 respondents was conducted in order to test the hypotheses. First, the result of hypotheses testing showed that perceived usefulness among three factors of perceived benefit has the highest positive impact on perceived value, and then followed by perceived playfulness and perceived quality. Second, the result of hypotheses testing showed that perceived cost among three factors of perceived sacrifice has significantly negative impact on perceived value, however, technicality and security risk have no significant impact on perceived value. Also, the result of hypotheses testing showed that perceived value has significant direct impact on continuous intention to use of smart phone. In this regard, marketing managers of smart phone company should pay more attention to improve task efficiency and performance of smart phone, including rate systems of smart phone. Additionally, to test the moderating effect of personal innovativeness, this research conducted multi-group analysis by the degree of personal innovativeness of smart phone users. In a group with high level of innovativeness, perceived usefulness has the highest positive influence on perceived value than other factors. Instead, the analysis for a group with low level of innovativeness showed that perceived playfulness was the highest positive factor to influence perceived value than others. This result of the group with high level of innovativeness explains that innovators and early adopters are able to cope with higher level of cost and risk, and they expect to develop more positive intentions toward higher performance through the use of an innovation. Also, hedonic behavior in the case of the group with low level of innovativeness aims to provide self-fulfilling value to the users, in contrast to utilitarian perspective, which aims to provide instrumental value to the users. However, with regard to perceived sacrifice, both groups in general showed negative impact on perceived value. Also, the group with high level of innovativeness had less overall negative impact on perceived value compared to the group with low level of innovativeness across all factors. In both group with high level of innovativeness and with low level of innovativeness, perceived cost has the highest negative influence on perceived value than other factors. Instead, the analysis for a group with high level of innovativeness showed that perceived technicality was the positive factor to influence perceived value than others. However, the analysis for a group with low level of innovativeness showed that perceived security risk was the second high negative factor to influence perceived value than others. Unlike previous studies, this study focuses on influencing factors on continuous intention to use of smart phone, rather than considering initial purchase and adoption of smart phone. First, perceived value, which was used to identify user's adoption behavior, has a mediating effect among perceived benefit, perceived sacrifice, and continuous intention to use smart phone. Second, perceived usefulness has the highest positive influence on perceived value, while perceived cost has significant negative influence on perceived value. Third, perceived value, like prior studies, has high level of positive influence on continuous intention to use smart phone. Fourth, in multi-group analysis by the degree of personal innovativeness of smart phone users, perceived usefulness, in a group with high level of innovativeness, has the highest positive influence on perceived value than other factors. Instead, perceived playfulness, in a group with low level of innovativeness, has the highest positive factor to influence perceived value than others. This result shows that early adopters intend to adopt smart phone as a tool to make their job useful, instead market followers intend to adopt smart phone as a tool to make their time enjoyable. In terms of marketing strategy for smart phone company, marketing managers should pay more attention to identify their customers' lifetime value by the phase of smart phone adoption, as well as to understand their behavior intention to accept the risk and uncertainty positively. The academic contribution of this study primarily is to employ the VAM (Value-based Adoption Model) as a conceptual foundation, compared to TAM (Technology Acceptance Model) used widely by previous studies. VAM is useful for understanding continuous intention to use smart phone in comparison with TAM as a new IT utility by individual adoption. Perceived value dominantly influences continuous intention to use smart phone. The results of this study justify our research model adoption on each antecedent of perceived value as a benefit and a sacrifice component. While TAM could be widely used in user acceptance of new technology, it has a limitation to explain the new IT adoption like smart phone, because of customer behavior intention to choose the value of the object. In terms of theoretical approach, this study provides theoretical contribution to the development, design, and marketing of smart phone. The practical contribution of this study is to suggest useful decision alternatives concerned to marketing strategy formulation for acquiring and retaining long-term customers related to smart phone business. Since potential customers are interested in both benefit and sacrifice when evaluating the value of smart phone, marketing managers in smart phone company has to put more effort into creating customer's value of low sacrifice and high benefit so that customers will continuously have higher adoption on smart phone. Especially, this study shows that innovators and early adopters with high level of innovativeness have higher adoption than market followers with low level of innovativeness, in terms of perceived usefulness and perceived cost. To formulate marketing strategy for smart phone diffusion, marketing managers have to pay more attention to identify not only their customers' benefit and sacrifice components but also their customers' lifetime value to adopt smart phone.

• KOREAN JOURNAL OF CROP SCIENCE
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• v.39 no.1
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• pp.15-26
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• 1994

To understand the relative contribution of varietal and environmental variation on various grain quality components in rice, grain appearance, milling recovery, several physicochemical properties of rice grain and texture or palatability of cooked rice for milled rice materials of seven cultivars(five japonica & two Tongil-type), produced at six locations of the middle and southern plain area of Korea in 1989, were evaluated and analyzed the obtained data. Highly significant varietal variations were detected in all grain quality components of the rice materials and marked locational variations with about 14-54% portion of total variation were recognized in grain appearance, milling recovery, alkali digestibility, protein content, K /Mg ratio, gelatinization temperature, breakdown and setback viscosities. Variations of variety x location interaction were especially large in overall palatability score of cooked rice and consistency or set- back viscosities of amylograph. Tongil-type cultivars showed poor marketing quality, lower milling recovery, slightly lower alkali digestibility and amylose content, a little higher protein content and K /Mg ratio, relatively higher peak, breakdown and consistency viscosities, significantly lower setback viscosity, and more undesirable palatability of cooked rice compared with japonica rices. The japonica rice varieties possessing good palatability of cooked rice were slightly low in protein content and a little high in K /Mg ratio and stickiness /hardness ratio of cooked rice. Rice 1000-kernel weight was significantly heavier in rice materials produced in Iri lowland compared with other locations. Milling recovery from rough to brown rice and ripening quality were lowest in Milyang late-planted rice while highest in Iri lowland and Gyehwa reclaimed-land rice. Amylose content of milled rice was about 1% lower in Gyehwa rice compared with other locations. Protein content of polished rice was about 1% lower in rice materials of middle plain area than those of southern plain regions. K/Mg ratio of milled rice was lowest in Iri rice while highest in Milyang rice. Alkali digestibility was highest in Milyang rice while lowest in Honam plain rice, but the temperature of gelatinization initiation of rice flour in amylograph was lowest in Suwon and Iri rices while highest in Milyang rice. Breakdown viscosity was lowest in Milyang rice and next lower in Ichon lowland rice while highest in Gyehwa and Iri rices, and setback viscosity was the contrary tendency. The stickiness/hardness ratio of cooked rice was slightly lower in southern-plain rices than in middle-plain ones, and the palatability of cooked rice was best in Namyang reclaimed-land rice and next better with the order of Suwon$\geq$Iri$\geq$Ichon$\geq$Gyehwa$\geq$Milyang rices. The rice materials can be classified genotypically into two ecotypes of japonica and Tongil-type rice groups, and environmentally into three regions of Milyang, middle and Honam lowland by the distribution on the plane of 1st and 2nd principal components contracted from eleven grain quality properties closely associated with palatability of cooked rice by principal component analysis.

• Journal of Global Scholars of Marketing Science
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• v.17 no.4
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• pp.247-269
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• 2007

In recent years, one of the major reasons for the fierce competition amongst firms is that they strive to increase their own market shares and customer acquisition rate in the same market with similar and apparently undifferentiated products in terms of quality and perceived benefit. Because of this change in recent marketing environment, the differentiated after-sales service and diversified promotion strategies have become more important to gain competitive advantage. Price promotion is the favorite strategy that most retailers use to achieve short-term sales increase, induce consumer's brand switch, in troduce new product into market, and so forth. However, if marketers apply or copy an identical price promotion strategy without considering the characteristic differences in product and consumer preference, it will cause serious problems because discounted price itself could make people skeptical about product quality, and the changes of perceived value might appear differently depending on other factors such as consumer involvement or brand attitude. Previous studies showed that price promotion would certainly increase sales, and the discounted price compared to regular price would enhance the consumer's perceived values. On the other hand, discounted price itself could make people depreciate or skeptical about product quality, and reduce the consumers' positivity bias because consumers might be unsure whether the current price promotion is the retailer's best price offer. Moreover, we cannot say that discounted price absolutely enhances the consumer's perceived values regardless of product category and purchase situations. That is, the factors that affect consumers' value perceptions and buying behavior are so diverse in reality that the results of studies on the same dependent variable come out differently depending on what variable was used or how experiment conditions were designed. Majority of previous researches on the effect of price-comparison advertising have used consumers' buying behavior as dependent variable. In order to figure out consumers' buying behavior theoretically, analysis of value perceptions which influence buying intentions is needed. In addition, they did not combined the independent variables such as brand loyalty and price discount rate together. For this reason, this paper tried to examine the moderating effect of brand loyalty on relationship between the different levels of discounting rate and buyers' value perception. And we provided with theoretical and managerial implications that marketers need to consider such variables as product attributes, brand loyalty, and consumer involvement at the same time, and then establish a differentiated pricing strategy case by case in order to enhance consumer's perceived values properl. Three research concepts were used in our study and each concept based on past researches was defined. The perceived acquisition value in this study was defined as the perceived net gains associated with the products or services acquired. That is, the perceived acquisition value of the product will be positively influenced by the benefits buyers believe they are getting by acquiring and using the product, and negatively influenced by the money given up to acquire the product. And the perceived transaction value was defined as the perception of psychological satisfaction or pleasure obtained from taking advantage of the financial terms of the price deal. Lastly, the brand loyalty was defined as favorable attitude towards a purchased product. Thus, a consumer loyal to a brand has an emotional attachment to the brand or firm. Repeat purchasers continue to buy the same brand even though they do not have an emotional attachment to it. We assumed that if the degree of brand loyalty is high, the perceived acquisition value and the perceived transaction value will increase when higher discount rate is provided. But we found that there are no significant differences in values between two different discount rates as a result of empirical analysis. It means that price reduction did not affect consumer's brand choice significantly because the perceived sacrifice decreased only a little, and customers are satisfied with product's benefits when brand loyalty is high. From the result, we confirmed that consumers with high degree of brand loyalty to a specific product are less sensitive to price change. Thus, using price promotion strategy to merely expect sale increase is not recommendable. Instead of discounting price, marketers need to strengthen consumers' brand loyalty and maintain the skimming strategy. On the contrary, when the degree of brand loyalty is low, the perceived acquisition value and the perceived transaction value decreased significantly when higher discount rate is provided. Generally brands that are considered inferior might be able to draw attention away from the quality of the product by making consumers focus more on the sacrifice component of price. But considering the fact that consumers with low degree of brand loyalty are known to be unsatisfied with product's benefits and have relatively negative brand attitude, bigger price reduction offered in experiment condition of this paper made consumers depreciate product's quality and benefit more and more, and consumer's psychological perceived sacrifice increased while perceived values decreased accordingly. We infer that, in the case of inferior brand, a drastic price-cut or frequent price promotion may increase consumers' uncertainty about overall components of product. Therefore, it appears that reinforcing the augmented product such as after-sale service, delivery and giving credit which is one of the levels consisting of product would be more effective in reality. This will be better rather than competing with product that holds high brand loyalty by reducing sale price. Although this study tried to examine the moderating effect of brand loyalty on relationship between the different levels of discounting rate and buyers' value perception, there are several limitations. This study was conducted in controlled conditions where the high involvement product and two different levels of discount rate were applied. Given the presence of low involvement product, when both pieces of information are available, it is likely that the results we have reported here may have been different. Thus, this research results explain only the specific situation. Second, the sample selected in this study was university students in their twenties, so we cannot say that the results are firmly effective to all generations. Future research that manipulates the level of discount along with the consumer involvement might lead to a more robust understanding of the effects various discount rate. And, we used a cellular phone as a product stimulus, so it would be very interesting to analyze the result when the product stimulus is an intangible product such as service. It could be also valuable to analyze whether the change of perceived value affects consumers' final buying behavior positively or negatively.

• Korean small business review
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• v.31 no.2
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• pp.103-120
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• 2009

As business incubation centers (BICs) have been operating for more than 10 years in Korea, many early stage startups tend to use the services provided by the incubating centers. BICs in Korea have accumulated the knowledge and experience in the past ten years and their services have been considerably improved. The business incubating service has three facets : (1) business infrastructure service, (2) direct service, and (3) indirect service. The mission of BICs is to provide the early stage entrepreneurs with the incubating service in a limited period time to help them grow strong enough to survive the fierce competition after graduating from the incubation. However, the incubating services sometimes fail to foster the independence of new startup companies, and raise the dependence of many companies on BICs. Thus, the dependence on BICs is a very important factor to understand the survival of the incubated startup companies after graduation from BICs. The purpose of this study is to identify the main factors that influence the firm's dependence on BICs and to characterize the relationships among the identified factors. The business incubating service is a core construct of this study. It includes various activities and resources, such as offering the physical facilities, legal service, and connecting them with outside organizations. These services are extensive and take various forms. They are provided by BICs directly or indirectly. Past studies have identified various incubating services and classify them in different ways. Based on the past studies, we classify the business incubating service into three categories as mentioned above : (1) business infrastructure support, (2) direct support, and (3) networking support. The business infrastructure support is to provide the essential resources to start the business, such as physical facilities. The direct support is to offer the business resources available in the BICs, such as human, technical, and administrational resources. Finally, the indirect service was to support the resource in the outside of business incubation center. Dependence is generally defined as the degree to which a client firm needs the resources provided by the service provider in order to achieve its goals. Dependence is generated when a firm recognizes the benefits of interacting with its counterpart. Hence, the more positive outcomes a firm derives from its relationship with the partner, the more dependent on the partner the firm must inevitably become. In business incubating, as a resident firm is incubated in longer period, we can predict that her dependence on BICs would be stronger. In order to foster the independence of the incubated firms, BICs have to be able to manipulate the provision of their services to control the firms' dependence on BICs. Based on the above discussion, the research model for relationships between dependence and its affecting factors was developed. We surveyed the companies residing in BICs to test our research model. The instrument of our study was modified, in part, on the basis of previous relevant studies. For the purposes of testing reliability and validity, preliminary testing was conducted with firms that were residing in BICs and incubated by the BICs in the region of Gwangju and Jeonnam. The questionnaire was modified in accordance with the pre-test feedback. We mailed to all of the firms that had been incubated by the BICs with the help of business incubating managers of each BIC. The survey was conducted over a three week period. Gifts (of approximately ₩10,000 value) were offered to all actively participating respondents. The incubating period was reported by the business incubating managers, and it was transformed using natural logarithms. A total of 180 firms participated in the survey. However, we excluded 4 cases due to a lack of consistency using reversed items in the answers of the companies, and 176 cases were used for the analysis. We acknowledge that 176 samples may not be sufficient to conduct regression analyses with 5 research variables in our study. Each variable was measured through multiple items. We conducted an exploratory factor analysis to assess their unidimensionality. In an effort to test the construct validity of the instruments, a principal component factor analysis was conducted with Varimax rotation. The items correspond well to each singular factor, demonstrating a high degree of convergent validity. As the factor loadings for a variable (or factor) are higher than the factor loadings for the other variables, the instrument's discriminant validity is shown to be clear. Each factor was extracted as expected, which explained 70.97, 66.321, and 52.97 percent, respectively, of the total variance each with eigen values greater than 1.000. The internal consistency reliability of the variables was evaluated by computing Cronbach's alphas. The Cronbach's alpha values of the variables, which ranged from 0.717 to 0.950, were all securely over 0.700, which is satisfactory. The reliability and validity of the research variables are all, therefore, considered acceptable. The effects of dependence were assessed using a regression analysis. The Pearson correlations were calculated for the variables, measured by interval or ratio scales. Potential multicollinearity among the antecedents was evaluated prior to the multiple regression analysis, as some of the variables were significantly correlated with others (e.g., direct service and indirect service). Although several variables show the evidence of significant correlations, their tolerance values range between 0.334 and 0.613, thereby demonstrating that multicollinearity is not a likely threat to the parameter estimates. Checking some basic assumptions for the regression analyses, we decided to conduct multiple regression analyses and moderated regression analyses to test the given hypotheses. The results of the regression analyses indicate that the regression model is significant at p < 0.001 (F = 44.260), and that the predictors of the research model explain 42.6 percent of the total variance. Hypotheses 1, 2, and 3 address the relationships between the dependence of the incubated firms and the business incubating services. Business infrastructure service, direct service, and indirect service are all significantly related with dependence (β = 0.300, p < 0.001; β = 0.230, p < 0.001; β = 0.226, p < 0.001), thus supporting Hypotheses 1, 2, and 3. When the incubating period is the moderator and dependence is the dependent variable, the addition of the interaction terms with the antecedents to the regression equation yielded a significant increase in R2 (F change = 2.789, p < 0.05). In particular, direct service and indirect service exert different effects on dependence. Hence, the results support Hypotheses 5 and 6. This study provides several strategies and specific calls to action for BICs, based on our empirical findings. Business infrastructure service has more effect on the firm's dependence than the other two services. The introduction of an additional high charge rate for a graduated but allowed to stay in the BIC is a basic and legitimate condition for the BIC to control the firm's dependence. We detected the differential effects of direct and indirect services on the firm's dependence. The firms with long incubating period are more sensitive to indirect service positively, and more sensitive to direct service negatively, when assessing their levels of dependence. This implies that BICs must develop a strategy on the basis of a firm's incubating period. Last but not least, it would be valuable to discover other important variables that influence the firm's dependence in the future studies. Moreover, future studies to explain the independence of startup companies in BICs would also be valuable.