• Title/Summary/Keyword: price effects

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The Effects of Personal Materialism and Price-perception on Store Patronage of Apparel Shopping

  • Nam, Mi-Woo
    • International Journal of Human Ecology
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    • v.10 no.1
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    • pp.75-86
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    • 2009
  • The direct impacts of individual materialism on price perceptions and price perceptions on patronage behavior have been limited in previous research. This study examined the impact of materialism on consumer perceptions of clothing price and the influence that price perceptions have on store patronage by consumers. Using factor analysis and stepwise regression analysis, results indicated that materialistic values revealed four factors (pursuit of happiness, acquisition centrality, success, and practical-consuming). Materialistic four values influence consumer attitudes toward the positive and negative roles of price. In turn, patronage is predicted by positive and negative price-perception. Implications and future research directions are also discussed.

The anticipated regret, perceived uncertainty, price sensitivity, and purchase hesitation of internet fashion consumers - Focusing on overseas purchasing - (인터넷 패션 소비자의 예상된 후회와 지각된 불확실성, 가격민감도 및 구매 망설임에 관한 연구 - 해외 직접구매를 중심으로 -)

  • Kim, Jong-ouk
    • The Research Journal of the Costume Culture
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    • v.26 no.1
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    • pp.1-18
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    • 2018
  • In this study, the effects of anticipated regret and perceived uncertainty on price sensitivity or purchase hesitation in overseas purchasing are analyzed along with the effects of price sensitivity on purchase hesitation. The survey was conducted among internet fashion consumers with experience in overseas purchasing and 480 responses were used in the data analysis. The results showed the psychosocial anticipated regret positively influenced the price importance, and the service, product and psychosocial anticipated regret positively influenced the price search. The preference and psychology uncertainty positively influenced the price importance, and the information and psychology uncertainty positively influenced the price search. The price importance positively influenced payment stage hesitation and shopping cart abandonment, and the price search positively influenced purchase hesitation in overseas purchasing. The functional, service and psychosocial anticipated regret positively influenced payment stage hesitation, and the service and psychosocial anticipated regret positively influenced shopping cart abandonment and overall purchase hesitation. In addition, the perceived uncertainty positively influenced the payment stage hesitation, and the information and psychology uncertainty positively influenced the shopping cart abandonment and overall purchase hesitation. The results of this study will be helpful for developing the marketing strategy for customer relationship management for overseas internet shopping web-sites.

An Analysis on Regional Ripple Effects of the Sale and Chenosei Prices of the Apartments: A GVAR Approach (아파트 매매가격 및 전세가격의 지역별 파급효과: GVAR 모형 접근법)

  • Yoon, Jai-Hyung
    • Asia-Pacific Journal of Business
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    • v.13 no.3
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    • pp.343-359
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    • 2022
  • We analyze the regional ripple effects of both the sale prices and cheonsei prices using the global VAR(GVAR) model. The interest rate shock causes the regional sale prices to fall. Moreover, the greatest responses to the shock are those of Gangnam-gu, etc. because of there were many transactions for investment purpose. When interest rate rose, the cheonsei price in Gangnam-gu reacted greatly. Conversely, if interest rates fall, the cheonsei demand to live in Gangnam-gu increases. Furthermore, the response of sale price to the interest rate shock are greater than those of the cheonsei prices. Whereas, a positive shock on the sale price in Gangnam-gu increases the sale price there. It also raises the sale prices of the surrounding area in a similar pattern. The shock on the sale price in Gangnam-gu also increases the cheonsei price in Gangnam-gu. In addition, an increase in the sale price in Gangnam-gu leads to increases of cheonsei prices in other regions. Therefore, the recent rise of the base rate can negatively affect the sale prices, and thus a decrease in the sale price spreads to the surrounding areas. Accordingly, it is time for policy alternatives to make a soft landing in sale prices.

Identifying Cryptocurrency Regulation Effects on Bitcoin Price : An Empirical Case in South Korea

  • Shamba, Kudzai;Jeon, Seong-Min
    • 한국벤처창업학회:학술대회논문집
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    • 2018.04a
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    • pp.187-190
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    • 2018
  • The study examines the effects of the regulation on cryptocurrency market, investigating a case in South Korea. As South Korea has one of the largest market share of the cryptocurrency market for the time being, its regulation in South Korea affected the entire markets around the World. This research in progress will use the method of difference-in-differences to assess the effects of regulation to the market. The findings indicate that there is a significant reduction of the Bitcoin price and the price volatility was significantly reduced by about 58% after the regulation of the cryptocurrency market. More so the trading activity indicates a huge decline after regulation was implemented.

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A Study on Settlements in Internet Interconnection under Internet Congestion (네트워크 혼잡효과를 고려한 인터넷망간 상호정산 방안 연구)

  • Jung, Choong-Young
    • Journal of Information Technology Applications and Management
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    • v.14 no.2
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    • pp.97-115
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    • 2007
  • The present paper investigates the technological and conceptional characteristics of peering and transit in internet interconnection. Especially, the market with two ISP competing for customers is modeled and the outcome with peering is compared with transit. This paper also analyze the congestion effects on retail price and network capacity. When there is congestion effects occurring from network sharing, the retail price is increased and the fixed fee is decreased with the degree of congestion. Finally, the optimal access charge assuring the socially optimal retail price and network capacity is derived.

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Effects of Coffee Shop Brand Attributes and Price Fairness on the Purchasing Behavior - Focus on the Case of Coffee Shop A - (커피전문점의 브랜드 속성과 가격공정성이 구매행동에 미치는 영향 - A 커피전문점을 대상으로 -)

  • Choi, Mi Sun;Jung, Ju Hee;Kim, Ye Young
    • Journal of the Korean Society of Food Culture
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    • v.32 no.6
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    • pp.549-557
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    • 2017
  • As many companies are performing brand management as a marketing strategy to establish long-term relationships with their customers, consumers decide the actual purchasing behavior by understanding the brand attributes of the relevant company based on an evaluation standard of the products. This paper provides the basic data for improving the competitiveness of the coffee shop market continuously, and analyzes the influential relationships between each variable by limiting the brand attributes of the coffee shop and the price fairness factor that would be expected to affect the consumers' purchasing behavior as the cause variables. The results showed that the-out of brand attribute factors of the coffee shop, the brand awareness and perceived quality had significant effects on the price fairness while the influence of the shop image on the price fairness was not verified. In addition, all the brand awareness, shop image, and perceived quality had significant effects on the purchasing behavior while the statistical significance between price fairness and purchasing behavior was verified. The rationality of the price presented by the coffee shop could be judged depending on the quality perceived by the consumers. Similarly, once consumers classified the propriety of price and then perceived that a suitable price had been set up regarding the quality and service provided by the coffee shop, it was highly possible for them to include it in their actual purchasing behavior, despite the higher price than other brands'. Further research on the psychological variables affecting the purchasing behavior by securing more diverse consumers to understand their purchasing behavior for a wide range of research subjects and the generalization of research results, will provide useful data for establishing marketing measures necessary to form strong relationships between consumers and brand in the currently-saturated coffee shop market.

The Effects of Olive Flounder Outlook Project : Price Stabilization, Market Efficiency, and Causality Analysis on the Prices by Distributional Channel (넙치 관측사업 효과분석 : 가격안정 및 시장효율성 개선효과, 산지-도매가격간 인과성 분석을 중심으로)

  • Lee, Heon-Dong;Ahn, Byeong-Il
    • The Journal of Fisheries Business Administration
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    • v.47 no.1
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    • pp.1-20
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    • 2016
  • The purpose of this study is to assess the effects of outlook project for olive flounder, from the view point of price stabilization, market efficiency, and causality of the prices in different distribution channels. Analytical results show that the volatility of producer price of olive flounder has been significantly mitigated after the implementation of the outlook project. The market efficiency is estimated to be improved after implementing the outlook project although there is an inefficiency on price determination process in some producing regions. The causality test on the producer and wholesale price shows that producing stage leads the wholesale stage in forming the prices. It is found that Jeju leads the flounder price on the size of 500g and 2kg, while Wando leads the price of 1kg size. These estimation result as whole indicate that outlook project for olive flounder has accomplished the intended goals.

An Analytical Effects of Maximum Quantity Constraint on the Nash Solution in the Uniform Price Auction (발전기 최대용량 제약이 현물시장의 내쉬균형에 미치는 영향에 대한 해석적 분석)

  • 김진호;박종배;박종근
    • The Transactions of the Korean Institute of Electrical Engineers A
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    • v.52 no.6
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    • pp.340-346
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    • 2003
  • This paper presents a game theory application for an analysis of uniform price auction in a simplified competitive electricity market and analyzes the properties of Nash equilibrium for various conditions. We have assumed that each generation firm submits his bid to a market in the form of a sealed bid and the market is operated as a uniform price auction. Two firms are supposed to be the players of the market, and we consider the maximum generation quantity constraint of one firm only. The system demand is assumed to have a linear relationship with market clearing prices and the bidding curve of each firm, representing the price at which he has a willingness to sell his generation quantity, is also assumed to have a linear function. In this paper, we analyze the effects of maximum generation quantity constraints on the Nash equilibrium of the uniform price auction. A simple numerical example with two generation firms is demonstrated to show the basic idea of the proposed methodology.

The Effect of Price Promotional Information about Brand on Consumer's Quality Perception: Conditioning on Pretrial Brand (품패개격촉소신식대소비자질량인지적영향(品牌价格促销信息对消费者质量认知的影响))

  • Lee, Min-Hoon;Lim, Hang-Seop
    • Journal of Global Scholars of Marketing Science
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    • v.19 no.3
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    • pp.17-27
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    • 2009
  • Price promotion typically reduces the price for a given quantity or increases the quantity available at the same price, thereby enhancing value and creating an economic incentive to purchase. It often is used to encourage product or service trial among nonusers of products or services. Thus, it is important to understand the effects of price promotions on quality perception made by consumer who do not have prior experience with the promoted brand. However, if consumers associate a price promotion itself with inferior brand quality, the promotion may not achieve the sales increase the economic incentives otherwise might have produced. More specifically, low qualitative perception through price promotion will undercut the economic and psychological incentives and reduce the likelihood of purchase. Thus, it is important for marketers to understand how price promotional informations about a brand have impact on consumer's unfavorable quality perception of the brand. Previous literatures on the effects of price promotions on quality perception reveal inconsistent explanations. Some focused on the unfavorable effect of price promotion on consumer's perception. But others showed that price promotions didn't raise unfavorable perception on the brand. Prior researches found these inconsistent results related to the timing of the price promotion's exposure and quality evaluation relative to trial. And, whether the consumer has been experienced with the product promotions in the past or not may moderate the effects. A few studies considered differences among product categories as fundamental factors. The purpose of this research is to investigate the effect of price promotional informations on consumer's unfavorable quality perception under the different conditions. The author controlled the timing of the promotional exposure and varied past promotional patterns and information presenting patterns. Unlike previous researches, the author examined the effects of price promotions setting limit to pretrial situation by controlling potentially moderating effects of prior personal experience with the brand. This manipulations enable to resolve possible controversies in relation to this issue. And this manipulation is meaningful for the work sector. Price promotion is not only used to target existing consumers but also to encourage product or service trial among nonusers of products or services. Thus, it is important for marketers to understand how price promotional informations about a brand have impact on consumer's unfavorable quality perception of the brand. If consumers associate a price promotion itself with inferior quality about unused brand, the promotion may not achieve the sales increase the economic incentives otherwise might have produced. In addition, if the price promotion ends, the consumer that have purchased that certain brand will likely to display sharply decreased repurchasing behavior. Through a literature review, hypothesis 1 was set as follows to investigate the adjustive effect of past price promotion on quality perception made by consumers; The influence that price promotion of unused brand have on quality perception made by consumers will be adjusted by past price promotion activity of the brand. In other words, a price promotion of an unused brand that have not done a price promotion in the past will have a unfavorable effect on quality perception made by consumer. Hypothesis 2-1 was set as follows : When an unused brand undertakes price promotion for the first time, the information presenting pattern of price promotion will have an effect on the consumer's attribution for the cause of the price promotion. Hypothesis 2-2 was set as follows : The more consumer dispositionally attribute the cause of price promotion, the more unfavorable the quality perception made by consumer will be. Through test 1, the subjects were given a brief explanation of the product and the brand before they were provided with a $2{\times}2$ factorial design that has 4 patterns of price promotion (presence or absence of past price promotion * presence or absence of current price promotion) and the explanation describing the price promotion pattern of each cell. Then the perceived quality of imaginary brand WAVEX was evaluated in the scale of 7. The reason tennis racket was chosen is because the selected product group must have had almost no past price promotions to eliminate the influence of average frequency of promotion on the value of price promotional information as Raghubir and Corfman (1999) pointed out. Test 2 was also carried out on students of the same management faculty of test 1 with tennis racket as the product group. As with test 1, subjects with average familiarity for the product group and low familiarity for the brand was selected. Each subjects were assigned to one of the two cells representing two different information presenting patterns of price promotion of WAVEX (case where the reason behind price promotion was provided/case where the reason behind price promotion was not provided). Subjects looked at each promotional information before evaluating the perceived quality of the brand WAVEX in the scale of 7. The effect of price promotion for unfamiliar pretrial brand on consumer's perceived quality was proved to be moderated with the presence or absence of past price promotion. The consistency with past promotional behavior is important variable that makes unfavorable effect on brand evaluations get worse. If the price promotion for the brand has never been carried out before, price promotion activity may have more unfavorable effects on consumer's quality perception. Second, when the price promotion of unfamiliar pretrial brand was executed for the first time, presenting method of informations has impact on consumer's attribution for the cause of firm's promotion. And the unfavorable effect of quality perception is higher when the consumer does dispositional attribution comparing with situational attribution. Unlike the previous studies where the main focus was the absence or presence of favorable or unfavorable motivation from situational/dispositional attribution, the focus of this study was exaus ing the fact that a situational attribution can be inferred even if the consumer employs a dispositional attribution on the price promotional behavior, if the company provides a persuasive reason. Such approach, in academic perspectih sis a large significance in that it explained the anchoring and adjng ch approcedures by applying it to a non-mathematical problem unlike the previous studies where it wis ionaly explained by applying it to a mathematical problem. In other wordn, there is a highrspedency tmatispositionally attribute other's behaviors according to the fuedach aal attribution errors and when this is applied to the situation of price promotions, we can infer that consumers are likely tmatispositionally attribute the company's price promotion behaviors. Ha ever, even ueder these circumstances, the company can adjng the consumer's anchoring tmareduce the po wibiliute thdispositional attribution. Furthermore, unlike majority of previous researches on short/long-term effects of price promotion that only considered the effect of price promotions on consumer's purchasing behaviors, this research measured the effect on perceived quality, one of man elements that affects the purchasing behavior of consumers. These results carry useful implications for the work sector. A guideline of effectively providing promotional informations for a new brand can be suggested through the outcomes of this research. If the brand is to avoid false implications such as inferior quality while implementing a price promotion strategy, it must provide a clear and acceptable reasons behind the promotion. Especially it is more important for the company with no past price promotion to provide a clear reason. An inconsistent behavior can be the cause of consumer's distrust and anxiety. This is also one of the most important factor of risk of endless price wars. Price promotions without prior notice can buy doubt from consumers not market share.

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Effects of Country-of-Origin Coincidence and Price Level on Fashion Products Evaluations - Moderating Effect of Gender - (원산지일치도와 가격수준에 따른 의류 제품평가 - 소비자 성별의 조절효과를 중심으로 -)

  • Kim, Yeon-Hee;Lee, Kyu-Hye
    • Journal of the Korean Society of Costume
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    • v.59 no.6
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    • pp.41-57
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    • 2009
  • Evaluations of fashion products are often influenced by consumers' knowledge of the country where the products were made in. As globalization progresses, country-of-origin information is widely regarded as a powerful cue on consumers' shopping behavior. The purpose of study was to examine the consumer evaluation of apparel products with uni-national or bi-national country of origin. The effect of price level and gender were also investigated. The empirical research design took 2${\times}$2 factorial design with the country-of-origin coincidence (uni-national vs. bi-national) and price (high vs. low) of gender (male vs. female). Consumers' ethnocentrism and country-of-origin interest were taken into account as covariates in the factorial design. The consumers' evaluation of fashion products was measured in terms of brand attitudes and product attitudes. Data from 514 respondents were analyzed with t-test, one-way ANOVA, two-way ANOVA, and ANCOVA. Results of this study affirmed the importance of price information rather than country-of-origin coincidence in brand attitudes and product attitudes. Only for male consumers, interaction effects of price and country-of-origin coincidence had significant eflects on utilitarian attitude. Effects of two covariate variables included in the study were significant for female respondents but not for male respondents.