• Journal of Global Scholars of Marketing Science
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• v.15 no.1
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• pp.81-103
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• 2005

This study intends to examine whether consumers, especially buying apparel product postpone purchase in the beliefs of price break in the near future. For this research objectives, the dynamic price expectation effect model for apparel product is proposed and is applied to weekly sales data and price information of 43 women's apparel brands from a department store over the spring season. The main results are summarized as follows. 1. Dynamic price expectation effect model is developed and the model is more robust to apparel product than Gutenberg model, which is not considered these conditions. 2. By applying the model to empirical data, we find out the price expectation effect in the apparel product; concretely there are 23 brands out of 43 brands. This study confirms the price expectation effects in the apparel product theoretically and extends the research boundary of price expectation effects.

• Analyses & Alternatives
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• v.2 no.2
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• pp.143-162
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• 2018

This paper focuses on the policy framework about "Quantitative and Qualitative Easing (QQE)" of Japan, and analyzes reasons why the policy goal was not reached. The QQE was introduced by the Bank of Japan in 2013 with the purpose of meeting the price stability target of 2% and getting out of deflation that prevents sustained price decline. However, despite the implementation of the bold monetary easing policy unprecedented in the world, the policy goal was not achieved as of June 2018. As a result of analyzing the causes, the following three structural factors were confirmed. 1) The rise in prices by QQE was limited because Japan's consumer price is strongly depending on import price. 2) The effect is high degree of uncertainty and limited because theoretical framework of reflationist which adopted QQE depends on "expectation formation" by "self-fulfilling expectation" and "multiple equilibria". 3) It was confirmed that the expansion of the monetary base did not lead to money stock due to the existence of Japanese liquidity trap, long-term low interest rate policy.

• Journal of the Korean Society of Clothing and Textiles
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• v.16 no.4 s.44
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• pp.443-455
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• 1992

The purpose of this study is to verify the theoretical model on the clothing satisfaction. Research problems are as following; 1. To identify a causal model on the clothing satisfaction. 2. To examine the causal model by the brand levels. 3. To examine the causal model by the consumer characteristics. The empirical study of the above research problems is carried out by the longitudinal survey. The subjects selected for the final analysis are 362 women living in Seoul and Pusan. The results of our analysis are as following; 1. The main causal course of the clothing satisfaction is that the brand level and the consumer expectation $\rightarrow$ the expectation $\rightarrow$ the perceived performance ($\rightarrow$ the disconfirmation) $\rightarrow$ the clothing satisfaction. Those relevant variables explain $70\%$ of the clothing satisfac-tion variance. Especially, the influence of the perceived performance appears to be greater than that of the disconfirmation. 2. According to our analysis, the expectation influences the clothing satisfaction indirectly through the perceived performance. Especially, the normative expectation exhibits the contrast effect on the disconfirmation, while the predictive expectation exhibits the assimilation effect on the perceived performance. 3. The clothing satisfaction model differs by the brand levels (high price brand vs. moderate price brand) and by the consumer involvement levels (high involvement vs. low involvement). The relevant variables explain $65\%$ of the clothing satisfaction variance in the high price brand, while they explain $77\%$ in the moderate price brand. In the high involvement group, the relevant variables explain $78\%$ of the clothing satisfaction variance and $60\%$ in the low involvement group. In both involvement groups, the most critical direct variable is the perceived perfor-mance. In conclusion, we find that the clothing satisfaction can be explained by three constructs, the expectation, the perceived performance and the disconfirmation. The hypothesis that the two dimensions of the expectation explain the clothing satisfaction better is empirically supported in our study. Finally, we find that the clothing satisfaction models differ between two brand levels and consumer involvement levels.

• Journal of Distribution Science
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• v.18 no.1
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• pp.95-105
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• 2020

Purpose: Will more expensive gifts be more pleasurable and appreciated? This is a general expectation of gift-givers. According to the previous study on Americans (Flynn and Adams 2009), recipients tend to appreciate gifts regardless of their price. It indicates that there is an interaction effect between position (giving / receiving) and gift price. This study expands the previous study and aims to answer the following two questions: "Are such an interaction effect observed in Korean, too?" and "What types of people prefer expensive gifts?" Research design, data, and methodology: Study 1 of the current research repeated the Study 3 of Flynn and Adams (2009), with an iPod (high-priced gift condition) and a music CD (low-priced gift condition). That is, a 2 (gift price: high / low) x 2 (position: giver / receiver) between-group design was used. Study 2 used gift certificates of 100,000 won (high-priced gift condition) and 5,000-won gift (low-priced gift condition). Unlike the previous study that measured only one dependent variable (gratitude), this study added five more dependent variables in an attempt to exclude alternative explanations, such as endowment effects or emotional conflicts. This study also measured individualism / collectivism, face sensitivity, and materialism to explore the types of people who prefer expensive gifts. Results: The interaction effect between gift price and position on the level of appreciation was not significant. Meanwhile the main effect of gift price and of position were significant. The gift-recipient was more appreciative than the gift-givers' expectation regardless of the price of gifts. To investigate individual differences, individualism/collectivism, face sensitivity, and materialism were examined, but none of these variables were significantly related to the preference for expensive gifts. Respondents who received gift certificates in Study 2 were less grateful than those who received iPods or music CDs in Study 1. Conclusions: This study found that Koreans tend to be more grateful if they receive expensive gifts, in contrast to the Flynn and Adams (2009)'s study with Americans. In addition, gift-recipients appreciated more than givers' expectation and were more grateful when they received tangible products rather than gift certificates.

• Fashion & Textile Research Journal
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• v.11 no.4
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• pp.537-548
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• 2009

Consumers' price related response in the clothing purchase decision-making process includes their expectation of price, price perception, attitude toward price and consequent behaviors. The purposes of this research are to systematically organize consumers' price related responses in the clothing purchase decision-making process, and to explain the effect of price on their purchasing. The qualitative research including shopping observation and in-depth interview was conducted. The result identified stages that showed different price related responses in clothing purchase decision-making process, and clarified each stage's characteristics. In the internal search stage, consumers recalled price information from memory and had a specific expectation about the price. This set a direction for the external search. In the external search stage, consumers selected brands or stores by a non-compensatory evaluating with an expectation of the price, and narrowed these down to several determinant alternatives by actively evaluating the products. In case a sufficient amount of price information was not recalled, the consumer established reference price through the external search. Finally, in the purchasing stage, consumers evaluated the determinant alternatives based on their compensatory evaluation. When perception of price was negative, consumers evaluate price combined with the higher criteria of clothing benefits, such as symbolic value and usability. The research is expected to contribute to predicting consumers' responses to price, and to establishing an effective pricing strategy.

• The Journal of Fisheries Business Administration
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• v.48 no.2
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• pp.1-17
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• 2017

This work studies the variability of flatfish sales revenue. The theoretical analysis draws functions for equilibrium price and quantity using expectation hypotheses. The functions include unpredictable phenomenon with dummy variable and GARCH. The equilibrium function, using adaptive expectation hypothesis, contains the independent variables of supply and demand, while the equilibrium function, embodying rational expectation hypothesis, includes only the independent variables of supply side, because the demand side disappears by the information extraction process theoretically, if economic subjects build the expectation rational. The empirical analysis shows: the variability of flatfish production has a spillover effect on the variability of revenue with the adaptive expectation hypothesis. In the case when the model has a rational expectation hypothesis, the variability of flatfish production has a spillover effect on the revenue (the mean equation of GARCH model). This study indicates that there is the variability in flatfish production and sales revenue, and the spillover effect between them. The result can help to build of the rational system for the fishery income stability.

• Journal of the Korean Society of Costume
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• v.64 no.2
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• pp.35-49
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• 2014

In cases of fashion businesses operating by consignment, base estimate on quantity of sales is the most essential part of merchandising. This study classified factors influential to sales into factors with systematic influence and factors with unsystematic influence. In order to find out influence of each factor on sales, non-linear regression was used with SPSS package on the basis of actual data on sales for 5 years for sport shoes brand. Major findings of this study are as follows. First, price level had significant negative(-) influence on sales. Second, price expectation effects had significant negative(-) influence on sales. Third, competitor's price effect showed significant negative(-) value. Fourth, day-of-the-week effect showed significant positive(+) effect. The theoretical marketing implications of this study are as follows. First, study on price leads to expansion of the researches from apparels to sport shoes. Field of study on price was enlarged through expansion of variable of study from price level and price expectation effect to promotion, day-of-the-week effect and rainfall effect. Second, quantitative scale of day-of-the-week effect was found and it could be confirmed that there was seasonal differences with day-of-the-week effect. Implications of above findings on marketing managers are as follows. First, it was found that an increase in competitiveness of brand power and a decline in absolute value of competitor's price effect can be realized when new product groups are developed to meet the unsatisfied needs in the market. Second, it was possible to find out the parameters scales of the price response function, making it possible to estimate sales for the next season, and in turn realize increase in rate of sales and profit rate. This research is based on the dynamic price response function, which is rare to find in the apparel business and it academic significance due to its expanding response model which was focused on price in conventional researches to non-systematic variables.

• Journal of the Korean Society of Costume
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• v.50 no.8
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• pp.17-28
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• 2000

The purposes of this study were to determine dimension of apparel expectations, performances and service quality of discount store and thereby, to analyze effect of apparel commodities dimension (expectations, performances, disconfirmation and satisfaction) and service dimension(service quality and satisfaction ) on repurchase intention. The subject were 363 women in the age of twenty to sixty years old who live in Seoul and the suburban of Seoul. The results of this study could be summarized as follows : It was found that discount score consumers' expectation and performance with apparel commodities were classified 2 factors of the function and expression. On the other hand, the dimensions of service quality were found to have such 4 factors as reliability, VMD, convenience, and facilities. 2. It was found that consumers' intention of repurchase of discount store were affected by such variables as disconfirmation and service quality. While less frequent users were affected by expectations and disconfirmation with apparel commodities, more frequent users were affected by such variables as disconfirmation, service quality and service satisfaction. Meanwhile, discount store users were found to be affected by disconfirmation, and off-price store users were affected by disconfirmation: and service quality. 3. More frequent users of discount store scored more on average than less frequent users in terms of expectation, performance, disconfirmation, and satisfaction with apparel commodities and intention of repurchase. On the other hand, off-price store users scored more on average than discount users in terms of expectation and performance with apparel commodities and Intention of repurchase.

• Knowledge Management Research
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• v.23 no.1
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• pp.203-225
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• 2022

Competition in the OTT (Over the Top) service market is getting fiercer since global OTT services enter the domestic market and existing platforms are actively reorganized. As powerful competitors with ultra-luxurious content continue to enter the marke with diversity required by users, various efforts are required for OTT service platforms to prevent subscriber churn in order to generate continuous revenue. Thus, this study tried to examine the effect of OTT service characteristics on continuous use intention through an empirical analysis based on Expectation-Confirmation Model(ECM). A total of 386 responses were collected from individuals who have experience or are currently using OTT service and analyzed using AMOS 24. Results show that content curation, content richness, and audience activity had a significant effect on expectation confirmation. Also, expectation confirmation had a significant effect on perceived usefulness and user satisfaction while perceived usefulness had a significant effect on user satisfaction, significantly influencing continuous intention to use OTT. Finally, price fairness was found to strengthen all proposed relationships. The findings are expected to provide useful information for service and content development for subscriber retention, which has the most direct impact on revenue generation of OTT service providers.

• Management & Information Systems Review
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• v.26
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• pp.205-230
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• 2008

The purpose of this study is to research the recognition of hotel customers when the outside special restaurants opens at hotel instead of restaurant owned by hotel in Seoul City. The major factors are showed up factor analysis as specialty and reliability of hotel and outside restaurant image. They are consisted of 5 categorizes and the results of this study are as follows; First, it is proved that the expectation of customers after opening restaurant will be increased in terms of the lower price and more variety of food & beverage products. Also, the food & beverage will be increased. However, the quality and specialty of products will not be improved as much as customers expected. Considering that the results, hotel guests expect the effect of opening restaurant at hotel for variety products and service. So, Hotel management should understand the changing attitude of customer' needs and expectation.