• Journal of the Korean Society of Clothing and Textiles
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• v.28 no.6
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• pp.723-733
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• 2004

This study was designed to find out the effects of country-of-origin and price on the perceived quality, perceived value and purchase willingness of t-shirt products. This study will allow marketers to find the target consumers and to choose both the suitable country -of -origin and the reasonable selling price. This study was based on theoretical and empirical methods. For the empirical methodology, 3${\times}$3 between subjects factorial design with country-of-origin (U.S.A. vs. Korea vs. China) and price(high price vs. middle price vs. low price) was used. The nine types surveys by country-of-origin and price were transmitted to 960 undergraduate and graduate school students in Seoul. A total of 912 questionnaires were used in the final statistical analyses using factor analysis, MANOVA, Duncan test, and Tukey test. The results of this study were as follows: First, in the case of the perceived quality, participants evaluated t-shirt products better when the origin is U.S.A. followed by Korea and China in the order. Second, price affected the perceived value and purchase willingness. In the perceived value and purchase willingness, low priced t-shirt products were evaluated higher than the middle and high priced ones. Third, in the perceived quality, high priced Korean t-shirt products were evaluated lower than high and middle priced American t-shin products. In the perceived value, low priced Chinese t-shirt products were evaluated lower than middle priced Korean t-shirt products. In the purchase willingness, low priced American and low priced Korean t-shirt products and middle priced Korean t-shirt products were evaluated higher than all priced Chinese t-shirt products.

• Journal of Intelligence and Information Systems
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• v.24 no.2
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• pp.195-220
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• 2018

In this study, we conducted an empirical analysis of the factors that affect the change of Bitcoin Closing Price. Previous studies have focused on the security of the block chain system, the economic ripple effects caused by the cryptocurrency, legal implications and the acceptance to consumer about cryptocurrency. In various area, cryptocurrency was studied and many researcher and people including government, regardless of country, try to utilize cryptocurrency and applicate to its technology. Despite of rapid and dramatic change of cryptocurrencies' price and growth of its effects, empirical study of the factors affecting the price change of cryptocurrency was lack. There were only a few limited studies, business reports and short working paper. Therefore, it is necessary to determine what factors effect on the change of closing Bitcoin price. For analysis, hypotheses were constructed from three dimensions of consumer, industry, and macroeconomics for analysis, and time series data were collected for variables of each dimension. Consumer variables consist of search traffic of Bitcoin, search traffic of bitcoin ban, search traffic of ransomware and search traffic of war. Industry variables were composed GPU vendors' stock price and memory vendors' stock price. Macro-economy variables were contemplated such as U.S. dollar index futures, FOMC policy interest rates, WTI crude oil price. Using above variables, we did times series regression analysis to find relationship between those variables and change of Bitcoin Closing Price. Before the regression analysis to confirm the relationship between change of Bitcoin Closing Price and the other variables, we performed the Unit-root test to verifying the stationary of time series data to avoid spurious regression. Then, using a stationary data, we did the regression analysis. As a result of the analysis, we found that the change of Bitcoin Closing Price has negative effects with search traffic of 'Bitcoin Ban' and US dollar index futures, while change of GPU vendors' stock price and change of WTI crude oil price showed positive effects. In case of 'Bitcoin Ban', it is directly determining the maintenance or abolition of Bitcoin trade, that's why consumer reacted sensitively and effected on change of Bitcoin Closing Price. GPU is raw material of Bitcoin mining. Generally, increasing of companies' stock price means the growth of the sales of those companies' products and services. GPU's demands increases are indirectly reflected to the GPU vendors' stock price. Making an interpretation, a rise in prices of GPU has put a crimp on the mining of Bitcoin. Consequently, GPU vendors' stock price effects on change of Bitcoin Closing Price. And we confirmed U.S. dollar index futures moved in the opposite direction with change of Bitcoin Closing Price. It moved like Gold. Gold was considered as a safe asset to consumers and it means consumer think that Bitcoin is a safe asset. On the other hand, WTI oil price went Bitcoin Closing Price's way. It implies that Bitcoin are regarded to investment asset like raw materials market's product. The variables that were not significant in the analysis were search traffic of bitcoin, search traffic of ransomware, search traffic of war, memory vendor's stock price, FOMC policy interest rates. In search traffic of bitcoin, we judged that interest in Bitcoin did not lead to purchase of Bitcoin. It means search traffic of Bitcoin didn't reflect all of Bitcoin's demand. So, it implies there are some factors that regulate and mediate the Bitcoin purchase. In search traffic of ransomware, it is hard to say concern of ransomware determined the whole Bitcoin demand. Because only a few people damaged by ransomware and the percentage of hackers requiring Bitcoins was low. Also, its information security problem is events not continuous issues. Search traffic of war was not significant. Like stock market, generally it has negative in relation to war, but exceptional case like Gulf war, it moves stakeholders' profits and environment. We think that this is the same case. In memory vendor stock price, this is because memory vendors' flagship products were not VRAM which is essential for Bitcoin supply. In FOMC policy interest rates, when the interest rate is low, the surplus capital is invested in securities such as stocks. But Bitcoin' price fluctuation was large so it is not recognized as an attractive commodity to the consumers. In addition, unlike the stock market, Bitcoin doesn't have any safety policy such as Circuit breakers and Sidecar. Through this study, we verified what factors effect on change of Bitcoin Closing Price, and interpreted why such change happened. In addition, establishing the characteristics of Bitcoin as a safe asset and investment asset, we provide a guide how consumer, financial institution and government organization approach to the cryptocurrency. Moreover, corroborating the factors affecting change of Bitcoin Closing Price, researcher will get some clue and qualification which factors have to be considered in hereafter cryptocurrency study.

• Journal of Information Technology Services
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• v.6 no.2
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• pp.19-33
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• 2007

The current advance of IT and the e-commerce triggers the wide practice of dynamic pricing in all industries although the price discrimination has been very cautiously applied in the limited areas in the past. The price discrimination which offers different prices for each customer depending on their preference and buying behaviors has recently gained attention as it could provide superior benefits to sellers. The wide adoption of price discrimination, on the other hand, is reported to face buyer resistances and complaints. Our limited understanding on the perception of price fairness, which we think is key concept in the price discrimination on the Internet-enabled transactions, motives us to investigate factors that affect the perception of price fairness. This study focuses on illusion of control and lateral customer relationship to investigate their effects on price fairness in online auction and group purchase context. By conducting laboratory experiments, our study demonstrates that customers' perception on illusion of control in price determination and advantageous lateral customer relationship significantly affect price fairness perception in both online auction and group purchase environment. The findings are expected to provide researchers and managers with useful insights to develop better pricing strategies and design effective dynamic pricing mechanisms.

• Fashion & Textile Research Journal
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• v.12 no.4
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• pp.450-458
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• 2010

The purpose of this study was to investigate the effect of shopping orientation on price perception and the effect of shopping orientation and price perception on purchase satisfaction. This study administered a questionnaire survey to adults in their 20s and 30s who had once purchased fashion products in surrogate internet shopping malls. Among 327 questionnaires, 263 were collected through convenience sampling and 94 were collected from six internet communities. Data were analyzed by factor analyses and regression analyses. The results of this study are as follows. First, factor analysis of price perception revealed that two factors such as price reasonability and price reduction were extracted and the mean of price reduction was higher than one of price reasonability. Second, factor analysis of purchase satisfaction extracted four factors such as service quality, shopping convenience, product scarcity and product variety/price satisfaction. Mean comparisons showed that the mean of product scarcity was the highest among four factors. Third, regression analyses that recreational, economic, and convenience shopping orientation affected price reduction, a factor of price perception. Fourth, regression analyses showed that shopping orientations and the price perception had significant effects on the purchase satisfaction.

• Journal of Electrical Engineering and Technology
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• v.8 no.6
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• pp.1296-1304
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• 2013

This study performed an analysis on power demand reduction effects exhibited by demand response programs, which are advanced from traditional demand-side management programs, in the smart grid environment. The target demand response systems for the analysis included incentive-based load control systems (2 month-ahead demand control system, 1~5 days ahead demand control system, and demand bidding system), which are currently implemented in Korea, and price-based demand response systems (mainly critical peak pricing system or real-time pricing system, currently not implemented, but representative demand response systems). Firstly, the status of the above systems at home and abroad was briefly examined. Next, energy saving effects and peak demand reduction effects of implementing the critical peak or real-time pricing systems, which are price-based demand response systems, and the existing incentive-based load control systems were estimated.

• Proceeding of Spring/Autumn Annual Conference of KHA
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• 2011.04a
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• pp.285-289
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• 2011

he purpose of this study is to assess the effects of real estate policy on apartment price index in Seoul. To meet the research goal, this research reviewed real estate policy of the government from January of 1986 to August of 2010, and then it collected monthly apartment price index in 25 local districts of Seoul from January of 2003 to August of 2010. After 25 districts were grouped into 2 areas (14 districts in Gangnam and 11 districts in Gangbuk), the data of two areas were analyzed by using the SAS program, Cluster analysis with Ward method showed 3 clusters on each area, and with 6 clusters in total, the effects of real estate policy in the period were examined by using residual analysis. The analysis indicated two major shocks (one was from May to October of 2003, and the other was from March of 2006 to January of 2007), and the results showed that the intervention of government in the market had the asymmetric effects in bullish and bearish times. It implies that the market volatility is substantially influenced by irrational sentiments. Thus, it's suggested to devise the consumer sentiment index suitable in real estate market.

• Journal of Information Technology Applications and Management
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• v.13 no.1
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• pp.1-16
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• 2006

This paper empirically analyzed consumer price search behavior using Web log data of a Korean web site for price comparison. Consumer click-stream data of the site was used to test the effects of price level, product category, third party certification, reputation of retailers on click behavior. According to the descriptive statistics, 67.4% of shopbot users clicked the offer which was the lowest price returned in a search. We found that third party certification and reputation of retailers were significant determinants of clicking the lowest priced offer from legit analysis. We also applied Tobit regression analysis to estimate the price premium of the two determinants, but only reputation of retailers was found to have price premium of 4.9%.

• The Journal of Industrial Distribution & Business
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• v.7 no.2
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• pp.25-32
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• 2016

Purpose - The objective of this study is to investigate the differences and interaction effects on the perceived financial risk between Korean and Thai consumers according to the types of product(utilitarian and hedonic) and price discount (bundle and 50%off). Research design, Data and Methodology - This paper sets up 6 research subjects. Data collection was carried out in Korea and Thailand. Data was made of 154 Korean and 147 Thai consumers. As for the independent variables for this study, consumer types are composed of Korean and Thai consumers, price discount types were bundle(1+1) and 50% off price, and product types consist of utilitarian and hedonic product. The dependent variable is perceived as a financial risk. Each question is measured as a Likert-type five-point scale. Results - According to the price discount and product type, perceived financial risk of Thai consumers is confirmed to be a larger one than that of Korean consumers. Also, there are interaction effects in the perceived financial risk. Conclusion - Our findings can be used as useful information for global retail markets as marketing strategies in future Korean enterprise through a comparative study on Korean and Thai consumers.

• Journal of the Korean Society of Clothing and Textiles
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• v.24 no.4
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• pp.498-509
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• 2000

This study is designed to find out the effects of price on the consumers'perceived quality, value and purchase willingness of clothing in order to get the basic information that is needed in helping clothing manufacturer's strategy for merchandising promotion on price. This study was conducted by means of a questionnaire survey of university students in seoul. SAS program was used for analysis. The conclusions of this study as follow: first, with respect to the price level of clothing, consumers evaluate the perceived quality of high-price case higher than that of low-price case, and evaluate the perceived value and purchase willingness of low-price case higher than those of high-price case. Second, with respect to the brand name level of clothing, consumers evaluate the perceived quality, perceived value and purchase willingness of well-known brand case higher than those of unknown brand can. Third, the interaction between price and brand dosen't appear. Thus from this result we can know that price and brand have the same amount of effect in both single-quo case and multi-que case. Forth, with respect to the price and brand name level of clothing, there exist significant differences in perceived quality, perceived value, and brand name level. Fifth, in the study of the relationship between perceived quality and purchase willingness and the relationship between the perceived value and purchase willingness, perceived value has more effect on purchase willingness than perceived quality.

• Fashion & Textile Research Journal
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• v.7 no.6
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• pp.594-600
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• 2005

This study investigated adolescents' shopping orientation and price perception according to socio statistics and their experience of internet shopping mall. We distributed the questionnaire to 411 high school students in near Seoul. In the order of high shopping orientation, they showed 'compare products', 'enjoy as leisure', 'shop loyalty', 'discount shopping', and 'brand shopping' orientation. In the order of high price perception, they showed 'economic', 'value', 'brand-quality', and 'price knowledge'. The higher in 'shop loyalty', 'enjoy as leisure' in the shopping orientation, the higher in the price concept of 'price knowledge'. Adolescents who have experience to shopping through internet shopping mall, have the higher enjoy as leisure, shop loyalty, compare products' in shopping orientation, and the higher 'economic, price knowledge' in price perception than those who have not. Socio-statistics parameters are found to affect adolescents' shopping orientation and price perception. Adolescents had average scores in 'shop loyalty', while they had high scores in 'compare products'. Thus, in order to have superior position in adolescent's market, detailed product specification and information are necessary to enhance their shop loyalty. Adolescents thought the price was economical, and they had less concept in 'price knowledge' due to their position. Unlike adults, adolescent's gender does not have effects on their 'economic concept. Male students also had high scores in 'economic concept' as much as female students did.