• Journal of the Korea Fashion and Costume Design Association
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• v.13 no.1
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• pp.47-57
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• 2011

As the development of denim products using new differentiated materials plays an important role regardless of their target age groups, there is an increasing need for the development of premium denim designs for senior women using various materials. As part of the strategy to develop such a design for the senior generation, a market survey was performed regarding commercially available premium denim products in the market, and the current trends in the denim market were researched and analyzed to make use of the results in design development. In addition, a differentiated material, hybrid yarn using conjugated dyeing (HYCD) was applied to use several washing techniques capable of highlighting the unique features of denim clothing. The design of four items including a jacket, vest, capri pants and long pants were suggested. These items were differentiated from other products by emphasizing their details such as stitching and pockets. In light of the current consumer trend to select denim jeans on the basis of their fashion-ability (e.g., silhouette or color) rather than practicality or price, it is considered meaningful to develop high value added, premium jean products for the senior generation using diverse materials and details. At the same time, performing further studies designed to demonstrate the stability and reliability of the developed products through consumers' comparative assessment is required.

• Journal of the Korea Fashion and Costume Design Association
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• v.22 no.2
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• pp.61-70
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• 2020

This study aims to explore whether the consumers' perceptions of fashion social enterprises' motives for seeking social value affects the consumers' purchase behavior. Specifically, the relationships among the egoistic and strategic driven attribution (ESDA), value-driven attribution (VDA), positive authenticity (PA), negative authenticity (NA), anticipated satisfaction (ANS), and willingness to pay a premium price (WPP) were examined. 151 respondents participated in an online survey. The collected data was analyzed using path analysis. The results revealed that PA, which was positively affected by VDA, was negatively affected by ESDA. However, NA, which was positively affected by ESDA, was negatively affected by VDA. In addition, ANS affecting WPP was influenced by both VDA and PA. In conclusion, this study clearly shows that prioritizing the inherent purposes of social enterprises can lead to more consumers buying products, even though social enterprises set fashion products at higher prices.

• The Korean Journal of Community Living Science
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• v.23 no.3
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• pp.291-305
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• 2012

The purpose of this study was to explore the consumer responses such as willingness to pay premium and purchasing cost for fair trade coffee as an ethical product while considering the treatment effect of consumer knowledge. First, the levels of consumer knowledge, willingness to pay premium and purchasing cost were presented. Then, the influencing factors on willingness to pay premium and purchasing cost of fair trade coffee were analyzed by applying the treatment effect model. From the results, first, the level of willingness to pay premium was high and consumers having purchasing experience of fair trade coffee spent 9,923 won at once, while less than half of the consumers knew the fair trade coffee. Second, consumer knowledge, ethical judgement, perception of price value, education level and pocket money significantly influenced to willingness to pay premium, while consumer knowledge, information evaluation, importance of fair trade criteria and level of education significantly influenced to purchasing cost for fair trade coffee. Especially, consumer knowledge of fair trade coffee was an important influencing factor for willingness to pay premium and purchasing cost indirectly as well as directly. Thus, this study might provide some useful information for consumers to choose the ethical behavior and the related companies to create effective promoting strategies for ethical products.

• Environmental and Resource Economics Review
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• v.17 no.2
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• pp.327-347
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• 2008

This study proposes a new answering mechanism of deciding whether to purchase or not under uncertainty-real risk answering mechanism (R-RAM) for real transaction and hypothetical risk answering mechanism (H-RAM). It IS also. shown that the traditional answering mechanism (TAM) assumed in most of existing contingent valuation methods should be applied in a real transaction without uncertainty. While the willingness to pay (WTP) being simply compared with the bidding price m TAM, the mean of WTP should be greater than the bidding pnce at least by the risk premium for a purchase decision m R-RAM and H-RAM. Only difference between R-RAM and H-RAM is risk premium. The H-RAM takes a smaller risk premium than the R-RAM. This study proposes the contingent valuation method (CVM) with H-RAM could be an alternative to reducing the under-or over-estimation of WTP by comparing the WTP estimates obtained from three different CVMs with TAM, R-RAM and H-RAM.

• Journal of Digital Convergence
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• v.18 no.8
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• pp.185-199
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• 2020

This study examined the effects of insurance company's CSR activities on customer-based brand assets and customers' intention to pay premium prices in order to identify the possibility of CSR activities as an insurance company's differentiated marketing strategies. Throughout collecting 510 surveys, this study has proved that economic and charitable activities had a effect on customer-based brand assets, also economic and environmental activities had a effect on intention to pay premium prices. In addition, the mediating role of the customer-based brand asset between economic and charitable activities and intention to pay premiums was proved. Lastly, it was confirmed that the level of SNS usage moderates the relationship between economic activities and customer-based brand assets. Based on the results, this study provides insurance companies with an effective marketing strategy of the CSR program.

• Fashion & Textile Research Journal
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• v.15 no.1
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• pp.103-115
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• 2013

This study identifies how the luxury brand marketing mix affects customer equity drivers and suggests intangible equity management strategies so that companies can make long-term profits through luxury brands based on empirical studies of Korean luxury consumers. The results of the study are as follows: First, this study classified the properties that use 8 key factors (product integrity, heritage, exclusivity, premium image, environment and consumption experience, premium price, luxury communication strategy, and brand signature). Second, it shows that product integrity and luxury communication strategy have a positive effect on all customer equity drivers, that brand signature has a positive effect on value equity and brand equity, and that premium price has a negative effect on relation equity. It is important to provide products and services equipped with high quality and luxurious designs based on excellent craftsmanship in order to establish brand equity and value equity. Brand identity needs to be maintained and unique brand signatures need to be developed based on the long history of luxury brands against a traditional backdrop. A diversified communication strategy improves brand recognition while playing a part in facilitating brand association and brand image. In order to improve relationship equity, actions such as a loyalty program to strengthen brand loyalty, need to be taken as well as measures to maintain and enhance customer trust through a reasonable price strategy.

• Asia Marketing Journal
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• v.11 no.2
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• pp.149-172
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• 2009

Prior research has investigated different effects of brand performance information such as premium price information and market share information on brand equity components - quality perception and brand preference. It was shown that the differential effects of brand performance information could depend on product-related variables like product category concept and quality variation in the product category. In this study, we conducted an experiment to find out how personal characteristics such as self-construal, price perception and brand commitment could influence the effects of different types of brand performance information. The results show that individuals who have independent self-construal, favorable price perception and emotional commitment with the brand develop more favorable evaluation of the premium price performance information resulting in more positive evaluations of the brand. However, individuals who have interdependent self-construal, unfavorable price perception and cognitive commitment with the brand develop more favorable evaluation of the market share performance information resulting in more positive evaluations of the brand. We discuss the theoretical and practical implications of this study and its limitations, along with future research interests.

• Korean Journal of Organic Agriculture
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• v.31 no.1
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• pp.1-27
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• 2023

This study investigated Thai consumers' perception and willingness to pay for Korean paprika and tomatoes to establish effective export strategies, To this end, an online survey was conducted on 300 consumers living in Bangkok, Thailand, and the factors affecting the purchase intent and willingness to pay price premium for Korean paprika and tomatoes were analyzed. The results are as follows. First, Thai consumers usually buy fruit and vegetables offline, such as supermarkets and large discount stores, but not a few respondents obtained purchase information online. Second, the price competitiveness of Korean paprika and tomatoes is low to Thai products, and the quality, safety, freshness, and cost-effectiveness are similar or low to other exporting countries. Therefore it is important to improve non-price competitiveness using positive perceptions of Korean products and Korean Wave. Third, the most important reason why Thai consumers not buying Korean paprika and tomatoes is the lack of stores and high prices. Fourth, as a result of analyzing the factors affecting the purchase intent for Korean paprika and tomatoes, the strategy of selling paprika and tomatoes through supermarkets to consumers with high income is effective. Fifth, considering the factors of willingness to pay premium prices for Korean paprika and tomatoes, a high pricing strategy targeted consumers with high income and many family members is appropriate.

• Journal of Digital Convergence
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• v.18 no.11
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• pp.493-500
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• 2020

The purpose of this study is to analyze the effect of the visual element of the label design image of premium lunch boxes and general lunch boxes on purchasing intention. As a method of research, the label design images and purchase intentions of premium lunch boxes and general lunch boxes from the nation's leading convenience store brands, Seven Eleven, GS25, and CU, were investigated through a survey, T-verification was conducted based on the measured average value and standard deviation was completed after analysis with SPSS 21. The results of the study showed that the label design of premium lunch boxes was recognized by consumers as a premium image that was a point of differentiation from general lunch boxes, and that the proportion of "quality" and "menu composition" was high, This indicates that convenience store premium lunch boxes could also offer consumers a competitive edge in value that is considered premium other than "price."

• International Journal of Highway Engineering
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• v.16 no.1
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• pp.75-89
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• 2014

PURPOSES : This study evaluates the economic value of national highway construction projects using Real Option Pricing Models. METHODS : We identified the option premium for uncertainties associated with flexibilities according to the future's change in national highway construction projects. In order to evaluate value of future's underlying asset, we calculated the volatility of the unit price per year for benefit estimation such as VOTS, VOCS, VICS, VOPCS and VONCS that the "Transportation Facility Investment Evaluation Guidelines" presented. RESULTS : We evaluated the option premium of underlying asset through a case study of the actual national highway construction projects using ROPM. And in order to predict the changes in the option value of the future's underlying asset, we evaluated the changes of option premium for future's uncertainties by the defer of the start of construction work, the contract of project scale, and the abandon of project during pre-land compensation stages that were occurred frequently in the highway construction projects. Finally we analyzed the sensitivity of the underlying asset using volatility, risk free rate and expiration date of option. CONCLUSIONS : We concluded that a highway construction project has economic value even though static NPV had a negative(-) value because of the sum of the existing static NPV and the option premium for the future's uncertainties associated with flexibilities.