• Title/Summary/Keyword: product strategy

Search Result 1,720, Processing Time 0.025 seconds

The Impact of Product Consumption Strategy and Financial Autonomy on Competitiveness of Technology Firms in Vietnam

  • PHAM, Van Thi Hong;NGUYEN, Quynh Thuy
    • The Journal of Asian Finance, Economics and Business
    • /
    • v.8 no.4
    • /
    • pp.819-826
    • /
    • 2021
  • This study aims to determine the impact of product consumption strategy and financial autonomy on the competitiveness of technology firms in Vietnam. This study employs panel data of 27 technology firms collected from listed financial statements of the business for the period (2010-2019). The study also uses some indicators reflecting the macroeconomic situation of the economy collected from the World Bank. Instead of Exploratory Factor Analysis which has been used before, the study uses the feasible generalized least squares (FGLS) estimation as the main method. The FGLS corrects the variance changes and autocorrelation on the dataset of these Vietnamese technology firms. The results reveal that the strategy of product consumption and financial autonomy positively affect the competitiveness of technology firms. These are also two core factors of the technology industry, which have a strong impact on the increase in the competitiveness of firms. The findings of this study suggest that technology firms do not need to invest in many long-term assets, but mainly in short-term assets in order to quickly respond to the strategies for consuming new technology products of the business. In addition, the increase in Gross Domestic Product per capita also positively affects the increase in the competitiveness of technology firms.

Profiling Approach for the Choice between Speculation and Postponement Strategy in Supply Chain Management (공급사슬관리의 예측전략과 지연전략 선택을 위한 프로파일링 접근법)

  • Kang, Sung-Wook;Kim, Gyu-Bae
    • Journal of Distribution Science
    • /
    • v.12 no.4
    • /
    • pp.47-54
    • /
    • 2014
  • Purpose - The postponement strategy, which delays the form, place, and production of products as late as possible, has been widely considered as a competitive supply chain management scheme in an era of mass customization and modular manufacturing. An interesting business phenomenon is that not all manufacturing/logistics firms choose the postponement strategy. Given that postponement is a counter-measure to speculation, which has some advantages under certain environments, the current imprudent inclination toward the postponement strategy may cause firms to lose the potential of the speculation strategy, an alternative strategy in supply chain management. Building on the logistics and manufacturing literature, this study examines characteristics of two contrasting strategies, postponement and speculation, and major factors favoring each strategy. Research design, data, and methodology - We apply the profiling approach to two business cases, HP printer and LG mobile phone. The profiling approach is a method of choosing a particular strategy aligned with environmental factors. While various approaches have been used to check the fit between a business strategy and environmental factors, the literature on manufacturing strategy and logistics has commonly adopted the profiling approach. Major factors used in profiling variables are derived from the literature. Two samples, HP printer and LG mobile phone, are selected, because they represent major characteristics appropriate for each strategy. The profiling is based on data from semi-organized interviews with managers. Results - The profiling approach shows that the postponement strategy is a suitable one for HP printers. Most factors, such as product life cycle, large production volume, low-price, product value, and monetary density, support delaying end products until as late as possible. Despite some exceptions, such as delivery time and economy of scale, our analysis states that the overall profile of HP printer is favorable for the postponement strategy. On the other hand, LG mobile phone may adapt the speculation strategy. Although it has large production volume and low delivery frequency, most characteristics support the speculation strategy for this product. An interesting finding is that, despite common perception that advanced technology products such as mobile telephones favor the postponement strategy, profiling proposes the speculation strategy for this product. Conclusions - Our analysis shows that speculation is not the universal option for supply chain management, and that, when choosing a specific strategy, one should consider many factors simultaneously. A major implication of our work is to emphasize the role of environmental factors such as supply chain variables in choosing an inventory strategy, and the importance of fit rather than solely strategic orientation. A theoretical contribution is to demonstrate the benefit of the simultaneous consideration of business variables in choosing specific strategies. For practitioners, our work leads us to consider the existence and the potential of speculation as a counter-measure to postponement. In addition, the comprehensive framework in this research may be instantly used in examining a practical strategy.

Study on Differentiation Strategies of Private Brand Product in Convenience Store: Focused on BGF Retail (편의점 PB상품의 차별화 전략에 대한 연구: BGF 리테일을 중심으로)

  • Kim, So-Hyung
    • Journal of Distribution Science
    • /
    • v.15 no.8
    • /
    • pp.55-64
    • /
    • 2017
  • Purpose - PB products at convenience stores take up about 20% of all products, and strategies for differentiation from other companies and brand image building are very important. This study would investigate the strategy for differentiating PB products and successful brand building strategy, focusing on BGF Retail that is operating 'CU', the leader in the convenience store industry in Korea. Research design, data, and methodology - This study would attempt to make an exploratory approach to PB products limited to those in convenience stores. As a research subject, this study chose BGF Retail, the operator of CU, which is the leader in the convenience store industry in Korea and chose the case study method in order to examine the strategy for differentiating PB products in convenience stores more in depth. For this purpose, this study collected materials such as papers, newspaper articles and various reports on convenience store-related PB products and conducted an in-depth study including more practical contents through an interview with CU workers. Results - CU pursued the diversity of PB products and has had the diversity of products, more than 120 kinds. It founded a product research institute and has been in charge of the differentiation strategy from planning products to launching them. Changing the target layer of consumers to those in middle age of the 40s-50s, it succeeded in the strategy expanding the consumer class. In the long run, despite it changed the name of the company, it has built a successful image, and both revenue and operating profit have continuously grown up. Conclusions - In results, CU has reset the changing main target population, and the product research institute succeeded in the innovation of products, reflecting new trends the customers want. Through this study, the practical implications could be provided for competitors.

A Study on the Effect of External Networking of SMEs on Production Facility Management, New Product Development Strategy and Financial Performance; Focused on the Partnerships SMEs in the Chungcheong Province of S&T Government Funded Research Institutes (중소기업의 외부 네트워킹이 생산설비 관리, 신제품개발 전략 및 재무성과에 미치는 영향; 과학기술분야 출연(연) 충청권 파트너쉽 기업을 중심으로)

  • Ha Young-Im
    • Journal of Korea Society of Digital Industry and Information Management
    • /
    • v.19 no.2
    • /
    • pp.103-120
    • /
    • 2023
  • This study is to confirm whether SMEs can manage production facilities well and receive help in establishing new product development strategies if they actively engage in external networks. And under this influence, it is to check whether sales growth and financial performance improve. After reviewing the literature and theory, an empirical analysis using the questionnaire method was conducted to verify the research model. To verify statistical significance, programs 'SPSS 20.0' and 'Smart PLS 2.0' were used. The results of the study are summarized as follows. First, the higher the level of technical cooperation external networking of SMEs, the higher the level of management of their production facilities and new product development strategy was confirmed. Second, it was confirmed that the higher the level of production facility management and new product development strategy of SMEs, the higher their financial performance. Third, among the external networking levels of SMEs, the factor that has the greatest influence on management level of production facilities was identified as degree of participation in human network activities to secure technology. And the factor that had the greatest influence on level of new product development strategy was identified as participation in joint research and commissioned research.

A Study on the Analyzing CRM Strategy of Local Distribution Firm Using the System Dynamics (중소기업 CRM 전략에 관한 시스템 다이내믹스 접근)

  • Park, Ki-Nam;Kim, Byung-Chan
    • The Journal of Information Systems
    • /
    • v.20 no.1
    • /
    • pp.127-146
    • /
    • 2011
  • Coping with the rapid change of competition in retail industry, retail firms have dreamed various differentiation strategy to obtain their added value and their life. And they have considered CRM strategy that can differentiate with other retail firms in order to develop some new differentiation factors. So we searched new factors that is best for "T store" and found CRM strategy such as the optimization for product portfolio considering private-brand products and the optimization for product display for customer demands. This study is meaningful in that it has suggested a new CRM strategy model, which can manage new various differentiation factors of a retail firms considering its core competence. We verified and altered retail firm's business model using system dynamics. By simulation results, CRM strategy need long time to obtain visible and satisfactory performance of "T store".

A Study on the Development of Direct Marketing Strategy for Organic Agricultural Products (유기농산물 직거래전략 개발에 관한 연구)

  • Yoo, Duck-Ki
    • Korean Journal of Organic Agriculture
    • /
    • v.19 no.4
    • /
    • pp.475-500
    • /
    • 2011
  • One of the first important strategic decisions when a starting an organic marketing initiative (OMI) is to plan the right strategy for distributing products. This decision depends to a large extent on whether the OMI has chosen a quality-premium product strategy or a price-quantity strategy. All distribution decisions interact strongly with other aspects of the marketing mix. Where and how a product is distributed objectives, its chosen strategy and the availability of human and capital resources. To select a market channel, frequent contact and discussions with possible partner are important. Generally, a distribution is made between the direct and indirect physical distribution of organic products to consumers. The longer the supply chain, the lower the chances that an OMI can steer the market through its own marketing measures and convince consumers through its own promotion activities. Generally speaking, the shorter the chain between OMI products and the final consumer, the less dependent the OMI will be on the success of other market actors. Direct selling activities to the retail or food industries also requires an OMI to undertake additional processing and marketing activities. For example, retailers often expect products to have been packed and labelled ready for sale. To conclude, distribution channels should be chosen in accordance with the product and price policy as well as the management capacity of the OMI.

Effect of Product Variety on Market Share (제품 다양화가 시장 점유율에 미치는 영향)

  • 이호창
    • Journal of the Korean Operations Research and Management Science Society
    • /
    • v.29 no.1
    • /
    • pp.101-112
    • /
    • 2004
  • Customer satisfaction level is usually measured in terms of price, qualify, customization, after-sale-service, product variety etc. Each firm sets up a distinctive production/marketing strategy to gain competitive advantage by Prioritizing the customer satisfaction measures. The market differentiation strategy directly results in supply chain performance such as lead time, inventory, customer fill rate and market share. Product proliferation desirable in customization sense often conflicts the economies of scale effect in production side. This paper focuses the relationship between product variety and market share. Specifically, we investigate how introduction of new product affects the current market share, i.e., formation of customer preference and provide some insight into the optimal range of product variety.

Optimal pricing under uncertain product lifetime conditions and simulation study

  • 이훈영;주기인;이시환
    • Proceedings of the Korean Operations and Management Science Society Conference
    • /
    • 1996.10a
    • /
    • pp.103-112
    • /
    • 1996
  • Optimal pricing research in general has been focused on profit maximizing strategy under the given product life-time T. Here we have tried to study the effect of uncertain product life-time on dynamic optimal pricing strategy. In reality, the life-time of product is more likely to be uncertain and not known as well. In terms of approximating the model to the concerned reality, so-called model validity, it seems to be more desirable to consider the uncertainty of product life-time into the optimal pricing strategy model, For this purpose, we tried two different approaches. One is to consider diverse product life-time probability functions under fixed life-time T. In this case, we might have the same product life-time as the previous study, but the process could be different in the expectation of product's discontinuity. The other is that life-time itself is not determined and thus it is the situation in which we can only decide optimal price on incremental basis. The former is the situation in which although we got some strong guess on life-time of a certain product, the pattern of expected life-time probability could be different. The question is what could be optimal pricing strategies on such different product life-time situations. But since in the latter, we don't assume any idea on the life-time of product. proper optimal pricing could be derived only from the past prices and diffusion information. While the latter seems to be safer in the aspect of model assumption, the former could be more realistic because we might have more or less a prior knowledge on the product life-time itself.

  • PDF

A study on the renewal design development of marketing strategy (마케팅 전략에 따른 리뉴얼 디자인 전개에 관한 연구)

  • 신홍재;함재룡
    • Archives of design research
    • /
    • no.16
    • /
    • pp.1-14
    • /
    • 1996
  • As the marketing strategy of corporations has been changing in various ways, the type of new product development has also bC'en changing in dim~rent ways. The types of changes include, among oiller things, product development. wit.h a new concept., revolut.ionary product development., new brand product. development., improvement. of existing product. and development. in model changes. The design development has similarly advanced with the growth in scient.ific approach in t11e design process of new product. development. in relat.ion t.o each t.ype of product development.. Ilowever, in view of the design approach or st.rat.egy for each t.ype, different. kinds of method of development is necessary. In order to increase t.he life cycle of an existing product. which has reached its mature stage and to respond t.o the changes 111 time t.hrough product improvement., it is becoming more imtxJrl.ant for Ule corporation to confonn wiU1 the changes in time by being able to sat.isfy the consumer! s needs, way of thinking and luxury inclination by utilizing the changes in design. However, it is very difficult to decide on a design using different development. methods which would clearly meet such neL'

  • PDF