• Title/Summary/Keyword: purchasing power

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Brand Personality of Global Automakers through Text Mining

  • Kim, Sungkuk
    • Journal of Korea Trade
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    • v.25 no.2
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    • pp.22-45
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    • 2021
  • Purpose - This study aims to identify new attributes by analyzing reviews conducted by global automaker customers and to examine the influence of these attributes on satisfaction ratings in the U.S. automobile sales market. The present study used J.D. Power for customer responses, which is the largest online review site in the USA. Design/methodology - Automobile customer reviews are valid data available to analyze the brand personality of the automaker. This study collected 2,998 survey responses from automobile companies in the U.S. automobile sales market. Keyword analysis, topic modeling, and the multiple regression analysis were used to analyze the data. Findings - Using topic modeling, the author analyzed 2,998 responses of the U.S. automobile brands. As a result, Topic 1 (Competence), Topic 5 (Sincerity), and Topic 6 (Prestige) attributes had positive effects, and Topic 2 (Sophistication) had a negative effect on overall customer responses. Topic 4 (Conspicuousness) did not have any statistical effect on this research. Topic 1, Topic 5, and Topic 6 factors also show the importance of buying factors. This present study has contributed to identifying a new attribute, personality. These findings will help global automakers better understand the impacts of Topic 1, Topic 5, and Topic 6 on purchasing a car. Originality/value - Contrary to a traditional approach to brand analysis using questionnaire survey methods, this study analyzed customer reviews using text mining. This study is timely research since a big data analysis is employed in order to identify direct responses to customers in the future.

Classifying Building Industry Clients and Investigating Their Attitude and Behavior - Supplement Research on Individual Clients - (국내 건축주 분류 및 유형별 태도·행동 조사 - 개인 건축주 대상 연구 보완 -)

  • Kim, Ju-Hyung;Yun, Sung-Myung;Lee, Soo-Yong
    • Journal of the Regional Association of Architectural Institute of Korea
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    • v.8 no.4
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    • pp.123-130
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    • 2006
  • This paper discusses issues faced by individual building industry clients. These form the majority of clients but, because they do not possess high purchasing power, they attract less attention in the industry. Given that key decisions on project definition and procurement strategy are made at the pre-project stage, the industry would benefit from knowing relevant aspects of its clients' attitudes and behaviors, so that it can support them. There is a lack of research on this subject, and so we first describe a theoretical framework and research methodology that were developed for this specific group of clients. Theory adopted from consumer behavioral research was introduced to develop a general behavioral model of individual clients. In this model, individual clients are assumed to seek and then process information after acknowledging normative activities. To validate our model, a field survey was conducted using randomly selected individual clients. Their opinions on the importance and difficulty of 12 normative activities were analysed to establish a general attitude. Information seeking behaviour was investigated by measuring the frequency and type of source that they contacted to conduct the normative activities. The attitudes and information seeking behaviour presented in this research will contribute to the development of project tools for supporting these clients.

Linkage between Value of Digital Fashion Products and Purchase Behavior of Potential Consumers on the Metaverse Platform

  • Jae-Min LEE
    • The Journal of Industrial Distribution & Business
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    • v.14 no.8
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    • pp.1-8
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    • 2023
  • Purpose: This research aims to identify positive connections between digital fashion product value and consumer purchase behavior. The research tries to offer valuable insights and implications for fashion industry practitioners, enabling them to harness the power of the Metaverse to enhance customer engagement, drive sales, and stay ahead in this ever-evolving digital landscape. Research design, data and methodology: The research design for this study is a systematic literature review. A systematic and rigorous approach was adopted to ensure the reliability and validity of the research findings. By conducting this kind of approach to achieve the purpose of the study, this research aims to comprehensively analyze existing academic articles, peer-reviewed journals, and relevant publications related to the topic. Results: According to various academic search engines, the results revealed several dimensions of value associated with digital fashion products on the Metaverse platform, which significantly influence consumer perceptions. These dimensions of value extend beyond traditional tangible attributes and are uniquely shaped by the immersive and interactive nature of the virtual environment. Conclusions: All in all, the findings highlighted the significance of experiential value in driving purchase behavior. Creating immersive and interactive virtual shopping experiences emerged as a crucial strategy for fashion industry practitioners to engage potential consumers effectively.

A Study on Information Consumption Behavior Structure of Rural Residents in Changchun, China (중국 장춘시 농촌주민의 정보소비 행동구조에 관한 연구)

  • Liu, Hui-Shu;Jung, Gi-Young;Kim, Hyung-Ho
    • Journal of the Korea Convergence Society
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    • v.11 no.1
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    • pp.9-16
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    • 2020
  • This study aims to deeply analyze the information consumption behavior structure of rural residents in Changchun, China. and further improve the information consumption level of rural residents. Questionnaire survey and statistical analysis were used in this study. First, Through in-depth interview and open questionnaire collection and compilation of measurement questions. Secondly, residents in 15 rural areas around Changchun were selected for the survey, Finally, SPSS23.0 was used for exploratory factor analysis of recovered data, and Mplus7.4 was used for confirmatory factor analysis. The results show that the structure of information consumption behavior of rural residents in Changchun includes three dimensions of information demand, information literacy and payment ability, which is corresponding to the previous studies on information consumption behavior structure's demand power, purchasing power and information quality. This study has certain empirical validity.

Study on Fuel Economy Characteristics by Cumulative Distance of Vehicle (차량 누적거리에 의한 연비 특성 연구)

  • Lim, Jae-Hyuk;Kim, Ki-Ho;Lee, Min-Ho
    • Journal of Power System Engineering
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    • v.21 no.4
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    • pp.57-61
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    • 2017
  • The vehicle label fuel economy is used as an energy management indicator nationwide. It induces technology development of automobile manufacturers and plays a role of providing information when purchasing a consumer vehicle. However, consumers who purchase a new vehicle continued to complain that the label fuel economy is different from the mandatory fuel economy rate. The domestic fuel economy measurement method is the same as the North American measurement method. The results of the two test modes (urban (FTP-75 mode), highway (HWFET mode)) are calculated in five test modes reflecting various environmental conditions and driving patterns 5-cycle correction formula is used which is equivalent to the fuel efficiency value. In this study, to solve the consumers' curiosity about the fuel economy of new vehicle, we use domestic fuel economy measurement method to measure the new car condition within 150 km of driving distance and the cumulative driving distance condition of domestic label fuel economy test vehicle. A comparative evaluation of fuel economy was carried out for a durability vehicle of $6,500{\pm}1,000km$. A result, mean value of the fuel economy of the four gasoline vehicles increased by 2.7 % in the city center mode and by 2.5 % in the highway mode in the durable vehicle compared new vehicle. And in the case of the diesel vehicle it increased by 2.5 % and 3.9 % respectively. The harmful exhaust gas emitted from the vehicle also resulted in more emissions of both gasoline and diesel vehicles in new vehicles. It is considered that the increase of the frictional force of the vehicle driving system and the lubricating oil system would have an effect on the reduction of the fuel economy of the new vehicle, and it was found that the fuel economy and the exhaust gas were improved by proper cumulative distance (domesticate) to the new vehicle.

Hair Protection Effect by Adding Mask Pack Active Ingredients to the End Paper During Permanent Wave Treatment (퍼머넌트 웨이브 시술시 엔드 페이퍼에 마스크팩 유효성분 첨가에 따른 모발 보호효과)

  • Lee, Bo-Lim;Ko, Kyoung-Sook
    • Journal of Convergence for Information Technology
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    • v.11 no.11
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    • pp.288-295
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    • 2021
  • This study was conducted to investigate the effect of end paper adsorbed with mask pack active ingredients on hair during permanent wave treatment. Permanent wave was performed with purchasing mask packs containing green tangerine, collagen, and Houttuynia cordate active ingredients among commercially available mask packs and adsorbing them to the end paper. As experimental methods, hair thickness, hair moisturizing power, tensile strength, hair epidermis observation using SEM, and hair constituent element analysis using EDS were performed. As a result of the experiment, it was confirmed that the experimental group treated with Houttuynia cordate active ingredient on the end paper had a hair protection effect as a result of hair thickness, tensile strength, hair epidermis observation, and hair component analysis. In addition, it was confirmed that the experimental group treated with green tangerine active ingredient on the end paper contained a relatively large amount of moisture in the hair moisturizing power test result. It is hoped that the development and research of various materials and tools will proceed so that basic cosmetic products containing active ingredients can be developed and used as hair cosmetics, and applied during chemical treatment in the industrial field.

Comparison of international medical costs for interventional pain treatment: a focus on Korea and Japan

  • Eun Young Lee;Hyung-Sun Won;Miyoung Yang;Hyungtae Kim;Yeon-Dong Kim
    • The Korean Journal of Pain
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    • v.37 no.1
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    • pp.51-58
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    • 2024
  • Background: The rise in national health care costs has emerged as a global problem given the ever-aging population and rapid development of medical technology. The utilization of interventional pain management has, similarly, shown a continued rise worldwide. This study evaluates the differences in the medical costs in the field of interventional pain treatment (IPT) between two countries: Korea and Japan. Methods: Korean medical insurance costs for 2019 related to pain management focused on IPT were compared to those of Japan. Purchasing power parity (PPP) was used to adjust the exchange rate differences and to compare prices in consideration of the respective societies' economic power. Results: The cost of trigger point injections in Japan was 1.06 times higher than that of Korea, whereas the perineural and intraarticular injection prices were lower in Japan. The cost of epidural blocks was higher in Japan compared to Korea in both cervical/thoracic and lumbar regions. As for blocks of peripheral branches of spinal nerves, the cost of scapular nerve blocks in Japan was lower than that in Korea, given a PPP ratio 0.09. For nerve blocks in which fluoroscopy guidance is mandatory, the costs of epidurography in Japan were greater than those in Korea, given a PPP ratio 1.04. Conclusions: This is the first comparative study focusing on the medical costs related to IPT between Korea and Japan, which reveals that the costs differed along various categories. Further comparisons reflecting more diverse countries and socio-economic aspects will be required.

The Impacts of Need for Cognitive Closure, Psychological Wellbeing, and Social Factors on Impulse Purchasing (인지폐합수요(认知闭合需要), 심리건강화사회인소대충동구매적영향(心理健康和社会因素对冲动购买的影响))

  • Lee, Myong-Han;Schellhase, Ralf;Koo, Dong-Mo;Lee, Mi-Jeong
    • Journal of Global Scholars of Marketing Science
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    • v.19 no.4
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    • pp.44-56
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    • 2009
  • Impulse purchasing is defined as an immediate purchase with no pre-shopping intentions. Previous studies of impulse buying have focused primarily on factors linked to marketing mix variables, situational factors, and consumer demographics and traits. In previous studies, marketing mix variables such as product category, product type, and atmospheric factors including advertising, coupons, sales events, promotional stimuli at the point of sale, and media format have been used to evaluate product information. Some authors have also focused on situational factors surrounding the consumer. Factors such as the availability of credit card usage, time available, transportability of the products, and the presence and number of shopping companions were found to have a positive impact on impulse buying and/or impulse tendency. Research has also been conducted to evaluate the effects of individual characteristics such as the age, gender, and educational level of the consumer, as well as perceived crowding, stimulation, and the need for touch, on impulse purchasing. In summary, previous studies have found that all products can be purchased impulsively (Vohs and Faber, 2007), that situational factors affect and/or at least facilitate impulse purchasing behavior, and that various individual traits are closely linked to impulse buying. The recent introduction of new distribution channels such as home shopping channels, discount stores, and Internet stores that are open 24 hours a day increases the probability of impulse purchasing. However, previous literature has focused predominantly on situational and marketing variables and thus studies that consider critical consumer characteristics are still lacking. To fill this gap in the literature, the present study builds on this third tradition of research and focuses on individual trait variables, which have rarely been studied. More specifically, the current study investigates whether impulse buying tendency has a positive impact on impulse buying behavior, and evaluates how consumer characteristics such as the need for cognitive closure (NFCC), psychological wellbeing, and susceptibility to interpersonal influences affect the tendency of consumers towards impulse buying. The survey results reveal that while consumer affective impulsivity has a strong positive impact on impulse buying behavior, cognitive impulsivity has no impact on impulse buying behavior. Furthermore, affective impulse buying tendency is driven by sub-components of NFCC such as decisiveness and discomfort with ambiguity, psychological wellbeing constructs such as environmental control and purpose in life, and by normative and informational influences. In addition, cognitive impulse tendency is driven by sub-components of NFCC such as decisiveness, discomfort with ambiguity, and close-mindedness, and the psychological wellbeing constructs of environmental control, as well as normative and informational influences. The present study has significant theoretical implications. First, affective impulsivity has a strong impact on impulse purchase behavior. Previous studies based on affectivity and flow theories proposed that low to moderate levels of impulsivity are driven by reduced self-control or a failure of self-regulatory mechanisms. The present study confirms the above proposition. Second, the present study also contributes to the literature by confirming that impulse buying tendency can be viewed as a two-dimensional concept with both affective and cognitive dimensions, and illustrates that impulse purchase behavior is explained mainly by affective impulsivity, not by cognitive impulsivity. Third, the current study accommodates new constructs such as psychological wellbeing and NFCC as potential influencing factors in the research model, thereby contributing to the existing literature. Fourth, by incorporating multi-dimensional concepts such as psychological wellbeing and NFCC, more diverse aspects of consumer information processing can be evaluated. Fifth, the current study also extends the existing literature by confirming the two competing routes of normative and informational influences. Normative influence occurs when individuals conform to the expectations of others or to enhance his/her self-image. Whereas informational influence occurs when individuals search for information from knowledgeable others or making inferences based upon observations of the behavior of others. The present study shows that these two competing routes of social influence can be attributed to different sources of influence power. The current study also has many practical implications. First, it suggests that people with affective impulsivity may be primary targets to whom companies should pay closer attention. Cultivating a more amenable and mood-elevating shopping environment will appeal to this segment. Second, the present results demonstrate that NFCC is closely related to the cognitive dimension of impulsivity. These people are driven by careless thoughts, not by feelings or excitement. Rational advertising at the point of purchase will attract these customers. Third, people susceptible to normative influences are another potential target market. Retailers and manufacturers could appeal to this segment by advertising their products and/or services as products that can be used to identify with or conform to the expectations of others in the aspiration group. However, retailers should avoid targeting people susceptible to informational influences as a segment market. These people are engaged in an extensive information search relevant to their purchase, and therefore more elaborate, long-term rational advertising messages, which can be internalized into these consumers' thought processes, will appeal to this segment. The current findings should be interpreted with caution for several reasons. The study used a small convenience sample, and only investigated behavior in two dimensions. Accordingly, future studies should incorporate a sample with more diverse characteristics and measure different aspects of behavior. Future studies should also investigate personality traits closely related to affectivity theories. Trait variables such as sensory curiosity, interpersonal curiosity, and atmospheric responsiveness are interesting areas for future investigation.

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A study on the Stable Supply of Fishery Oil in Korea (어업용 유류의 안정적인 공급에 관한 연구)

  • 강연실;이광남
    • The Journal of Fisheries Business Administration
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    • v.31 no.1
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    • pp.115-133
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    • 2000
  • The policy of suppling tax-exempt fishery oil in Korea has a history of almost 40 years, which was initiated by the National Federation of Fisheries Cooperatives in 1965. In 1999 the volume of fishery oil supplied to the earning fishermen and fishing entrepreneurs amounted to 8,390 thousand DM, 500 billion won in total. This paper analyzes the oil supplying system to fishermen in Korea and shows that the structural obstacles to the stable provision of fishery oil lies in the ineffective bargaining power (fixing price). Provided that the NFFC as a buyer, which is not equipped with the storage facilities for oil bids for a unit-price contract of fishery oil, there exists a possibility of collusion among 5 local oil refineries corporations to influence the oil price, making it difficult to reach a resonable price of oil. Though the international bids and direct imports following the liberalization of oil imports would help lower the unit price, purchasing and importing the oil out of season at a lower price would not be guaranteed without the oil storage facilities. Furthermore, the current supply system of oil is quite vulnerable to the extraneous factors and, say when the oil price soars unpredictably, it is almost impossible to supply low - priced fishery oil to fishermen. The National Federation of Fisheries Association of Japan(Zengyoren), for instance, possesses 10 oil storage facilities, which had been built across the country during the last 20 years (1964-1984). The storage capacity of these facilities reaches 0.6million DM(by kind, 0.56million DM for A heavy oil, 38thousand D/M kerosene, 5thousand D/M for diesel fuel oil). Allowing no intermediary of production associations(fisheries cooperatives) the NFFA's capacity for keeping oil in reserve rises much higher. As these storage facilities can keep the oil amounting to as much as of 70 days demand in reserve, a stable supply of fishery oil on favorable terms is secured. In contrast with Japan case, unequipped with the storage facilities for fishery oil, Korea does not have much bargaining power for bringing down the price of fishery oil. To make matters worse, the oil storing capacity of the member cooperatives is the volume of only 8 days demand. In case the oil price rises, it is almost impossible to supply the oil to the fishermen at a price lower than the price risen.

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Estimating the Compliance Cost of the Power and Energy Sector in Korea during the First Phase of the Emissions Trading Scheme (발전·에너지업종의 배출권거래제 제1차 계획기간 배출권 구입비용 추정과 전력시장 반응)

  • Lee, Sanglim;Lee, Jiwoong;Lee, Yoon
    • Environmental and Resource Economics Review
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    • v.25 no.3
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    • pp.377-401
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    • 2016
  • This study analyzes how much cost the power generation and energy sector in South Korea have to bear due to the introduction of emissions trading scheme during 2016 - 2017. To this end, the data on the seventh basic plan for long-term electricity supply and demand is applied to the electricity market simulation model called M-Core, and then the model forecasts carbon dioxide emissions to compare with the free emission allowances in the first national emissions permit allocation plan. The main results are as follows. Carbon dioxide emissions are estimated to be less in 2016 but more than the free emission allowances in 2017. When the price of the allowances is changed from \10,000/ton to \20,000/ton, the cost of purchasing the allowances is ranged from \70 billion to \140 billion. Under the assumption that CO2 cost is incorporated into the variable cost, a reversal of merit order between coal and LNG generation takes place when the price of the allowances exceeds \80,000/ton.