• Culinary science and hospitality research
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• v.17 no.1
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• pp.155-170
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• 2011

The purpose of this study was to test the influence of restaurant customers' perceived price on their satisfaction and revisit intention through the examination of the mediating effects of emotional responses and the moderating role of coupons. Data was obtained from a survey conducted to 319 quick service restaurant customers and analyzed using SPSS 16 and AMOS 16. The results indicate a full mediation effect of perceived price on customer satisfaction through emotional responses. It was also noted that discount, free and entry coupons did moderate the influence of perceived price on customers' emotional responses. The strongest moderator for perceived price and positive emotions was a discount coupon followed by a free coupon and an entry coupon in order. For perceived price and negative emotions, an entry coupon had a higher moderating effect followed by a discount coupon. The study put forward an appropriate implication to restaurateurs on the use of coupons as well as emotional responses and perceived price that will effectively elevate customers' satisfaction level.

• Land and Housing Review
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• v.11 no.3
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• pp.1-9
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• 2020

This study fulfills an empirical analysis how the physical factors affect the formation of housing price with the block unit. Block unit houses are a type of housing that pursues comfort and convenience in that the characteristics of individual houses and apartment houses are mixed. Existing studies have focused only on the physical characteristics of various planning elements such as block-type residential complexes. Nevertheless, it is not known whether the physical characteristics of block-type residential complexes reflect the preferences of actual consumers. In addition, there are no sufficient studies on how to evaluate them from the market side. In this study, block-level detached housing sites the target complexes with 10 or more households built between 2002 and 2019. The target areas for analysis are 163 complexes in Paju, Namyangju, Goyang, Suwon, Yongin, Ansan, Gimpo, Incheon, Seongnam, Hwaseong and Gwangju, Gyeonggi-do. The physical elements that make up the unit housing were classified through factor analysis. Finally, regression analysis was conducted to establish the basis determining the price-forming factors. As a result of the analysis, the factors that influenced the price were the site area and the number of community facilities. The variable with negative influence was the distance from Seoul. Based on the results of this study, it can be said that the influence on price formation in various areas was confirmed by presenting the relationship between the facility composition and price of a detached house.

• Korean Journal of Construction Engineering and Management
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• v.20 no.5
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• pp.3-11
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• 2019

This study is designed to examine the stock price of construction firms which are affected by the deregulation of new apartment sales price. As empirical methodology, it uses the traditional event study analysis to test the influence of the deregulation of new apartment sales price and the regression analysis to test which variables are related. The results of this study are summarized as follows : First, the cumulative abnormal return of stock is positive when government announced the deregulation of new apartment sales price. The cumulative abnormal return of stock for 21 trading day before -10 to +10 day is 25.51% which is significant different from zero at 1 percent level. This result suggests that the deregulation of new apartment sales price conveys good information to stock market that the firms performance will be good in the future. Second, in the regression analysis this study shows that the cumulative abnormal return of stock is related to firm's profit margin ratio.

• Journal of Korea Technology Innovation Society
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• v.3 no.3
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• pp.85-101
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• 2000

The purpose of this study is to test whether prices of personal computers reflect their varying degrees of non-marketable characteristics including after-sales service. This purpose is carried out using the hedonic price model. In this paper, we estimated 74 functional forms of hedonic price model using the quadratic Box-Cox transformation function and selected one based on the three criteria: expected signs, the statistical significance of estimated coefficients, and goodness of fit in terms of root-mean-square-percentage-error. In this study, we found hat as the after-sales service level increases the price of the personal computer increases. This result is consistent with the hypothesis that the less after-sales service offered with a personal computer, the less consumers are willing to pay for the personal computer, when all else remain constant. This finding shows that since the market works indirectly to influence pricing, the need to rely on consumer protection legislation to guarantee after-sales service is lessened. This study also found that after-sales service supported by each personal computer producer is not a free service, thus produces have a profit incentive for providing after-sales service.

• Environmental and Resource Economics Review
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• v.14 no.4
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• pp.943-964
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• 2005

This study estimated a wide range of stochastic process models using the frameworks of CKLS (1992) and Nowman and Wang (2001). For empirical analysis, the GMM estimation procedure is adopted for the monthly Brent crude oil prices from January 1996 to January 2005. Using the simulated price series, European call option premiums were calculated and compared each other. The empirical results suggest that the crude oil price has a strong dependency of volatility on the price level. Contrary to the results of previous related studies, it shows a weak tendency of mean reversion. In addition, the models provide different implications for pricing derivatives on crude oil.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.54 no.2
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• pp.79-87
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• 2005

At present Cournot model is one of the most commonly used theories to analyze the gaming situation in oligopoly market. But there exist several problems to apply this model to electricity market. The representative one is to obtain the inverse demand curve able to be induced from the relationship between market price and demand response. In Cournot model, each player offers their generation quantity to accomplish maximum profit, which is accomplished by reducing their quantity compared with available total capacity. As stated above, to obtain the probable Cournot equilibrium to reflect real market situation, we have to induce the correct demand function first of all. Usually the correlation between price and demand appears on the long-term basis through the statistical data analysis (for example, regression analysis) or by investigating consumer utility functions of several consumer groups classified as residential, industrial, and commercial. However, the elasticity has a tendency to change continuously according to the total market demand size or the level of market price. Therefore it should be updated as trading period passes by. In this paper we propose a method for inducing and updating this price elasticity of demand function for more realistic market equilibrium.

• KIEE International Transactions on Power Engineering
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• v.5A no.4
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• pp.403-411
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• 2005

At present, the Cournot model is one of the most commonly used theories to analyze the gaming situation in an oligopoly type market. However, several problems exist in the successful application of this model to the electricity market. The representative one is obtaining the inverse demand curve able to be induced from the relationship between market price and demand response. In the Cournot model, each player offers their generation quantity to obtain maximum profit, which is accomplished by reducing their quantity compared with available total capacity. As stated above, to obtain the probable Cournot equilibrium to reflect the real market situation, we have to induce the correct demand function first of all. Usually the correlation between price and demand appears over the long-term through statistical data analysis (for example, regression analysis) or by investigating consumer utility functions of several consumer groups classified as residential, industrial, and commercial. However, the elasticity has a tendency to change continuously according to the total market demand size or the level of market price. Therefore it should be updated as the trading period passes by. In this paper we propose a method for inducing and updating this price elasticity of demand function for more realistic market equilibrium.

• Culinary science and hospitality research
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• v.10 no.2
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• pp.59-71
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• 2004

This study .is about marketing of menu-delivery-web site through internet which is getting bigger in working-together-couples. The purpose of this study is suggesting the way which can make internet marketing to activate by means of analysing of a certain enterprise's homepage with marketing mix method. We draw the findings which is seperated by goods, price, promotion, distribution, other service according to marketing constituents. As a result of research, it was found that each company has given much more weight on some part in internet marketing's field of activity. In general, they put an empasis on activity of goods and promotion. On the other hands they didn't consider prices and delivery to be important compared with other parts. In a field of price, menu-site just announced price but in further advance, it had better offer and compare two price level when customer used menu-delivery-web site or not. And that site needed to promote and to be advertised what customer who just think using web site was expensive have benefit in the price. One of the most important things about internet-marketing was that fast and exact feedback and community made each enterprise to be able to help to communicate with customer. For these strategy to execute effectively, first company's name should be known well and goods and service the company had should be well advertised. But first of all, differentiated strategy should precede through consistency of taste and quality, consistant information update as a internet-company and sincere homepage management.

• Journal of the Korean Society of Clothing and Textiles
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• v.35 no.5
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• pp.501-512
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• 2011

This study examines the possible differences in satisfaction level according to the attributes classified as product, price, and service among women apparel consumers with the experience of buying global and domestic SPA brands. Data were collected through a survey of 270 women consumers aged 20s and with SPSS 15.0. The results are as follows: The exploration of the difference in product, price, and service attributes between the global and domestic SPA brands revealed that for product attributes, domestic brands scored higher in management quality, while global brands scored higher in design. In addition, for price attributes, domestic brands scored higher in promotion, while global brands scored higher in price value. When it comes to service attributes, only in regards to store policy was there a significant difference, with the score of global brands higher than domestic brands. The analysis of the difference in shopping orientation on domestic SPA brands showed significant difference only in customer convenience for the category of service attributes, while on global SPA brands, there were significant differences of the design for product attributes, promotion for price attributes, and customer convenience for service attributes.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.4
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• pp.101-105
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• 2018

Price discount is one of the commonly used promotion strategies to increase sales and revenue. If a discount is perceived before the purchase (i.e., pre-purchase discount), consumers are likely to perceive it as a potential gain. If it is noticed after making a regular-priced purchase (i.e., post-purchase discount), consumers may develop negative emotions and attitudes. Based on the rising transparency and omnipresence of price and discount information through web and mobile platforms, we attempt to tackle an understudied topic on the negative effect of post-purchase price discount. Specifically, post-purchase discount information may increase consumers' perception of monetary loss, which may affect consumers' decision to return the product, potentially increasing the operating costs borne by retailers. Based on a close scrutinization of the current market environment and previous academic literature, we suggest a novel conceptual framework to understand consumers' perception, attitude, and behavior (perception of loss, willingness to return) upon perceiving various formats of discount promotion (absolute value vs. percentage discount) posterior to the purchase of a product. We also look at the effect of price level (low-priced vs. high-priced). For marketing practitioners, we intend to suggest optimal promotion formats that can alleviate consumers' negative perceptions and prevent additional operation costs.