• Journal of the Korean Operations Research and Management Science Society
• /
• v.33 no.4
• /
• pp.13-30
• /
• 2008

We explore the determinants of long-term relationship between the buyer and the supplier to help suppliers develope a strategy to build long-term relationship with their buyers. Based upon an extensive literature review, we propose three droops of independent variables which may affect long-term relationship, including (a) environmental factors (product complexity, product importance, source dependence, price sensitivity), (b) relational factors(trust, commitment, satisfaction, intention of expansion), (c) operational performance(quality, delivery, cost capability, technical knowhow). The buyer's actual period of relationship with its main supplier is used as a dependent variable. Using hierarchical multiple regression analysis, we empirically test hypotheses, analysing a sample of 290 manufacturing firms in the U.S. The statistical results indicate that the buyer's source dependence, price sensitivity and the supplier's commitment play a significant role in establishing long-term relationship between the buyer and the supplier. However, the supplier's cost capability and technical knowhow in operational performance negatively affect long-term relationship in contrast with our hypotheses. Due to this controversial result, we divide the sample group Into dual sourcing and multiple sourcing environments and reconduct regression analysis in a post hoc manner. The findings show that the supplier's cost capability and technical knowhow are negatively associated with the length of relationship only in the multiple sourcing environment. The results may confirm that both parties' opportunistic behavior is more salient in the multiple sourcing environment than in the single sourcing environment.

• Journal of the Korean Society of Clothing and Textiles
• /
• v.32 no.9
• /
• pp.1407-1417
• /
• 2008

This study intended to compare the effects of fashion emotional and relationship experience of middle and old aged women on their long-term relationship orientation. The survey was conducted in September and October in 2006 on 579 middle old aged women whose age varied from 40 to 70 years old, who lived in Seoul and the metropolitan area and had experienced fashion shopping. The SPSS 12.0 was used to do an analysis of frequency, an exploratory factor analysis, and a multi-regression analysis and Lisrel 8.14 was applied to make a path analysis. The result of this study was as follows: Comparing the two age groups, the most important fact was that fashion related experience had more affective on long-term relationship orientation for old aged than middle aged women. Secondly, the effects of fashion emotional experience of middle and old aged women affected the long-term relationship orientation were the same. This analysis suggested that intensive marketing strategy effort of emotional experience for middle aged women and relational experience for old aged women should be more effective in fashion market.

• The Journal of Industrial Distribution & Business
• /
• v.9 no.9
• /
• pp.53-62
• /
• 2018

Purpose - The focus of this study is to investigate the structural influences such as brand value, relationship value, market orientation, long-term orientation, and performance. The effects of brand value and relationship value on the differences on transaction performance in b2b was investigated. Research design, data, and methodology - The subject of this study was a liquor and beverage distribution company that deals in b2b. The research hypothesis is based on literature of the preceding research analysis of brand value, relationship value, market orientation and long-term orientation. This study has constructs that was defined operationally by referencing previous studies. Operational questionnaire was used to investigate the target key staff who work in the liquor and beverage distribution company. 178 survey data were used for empirical analysis to prove the hypothesis. This study used structural equation techniques(AMOS) to prove the research hypothesis. Results - The main results of this empirical study were as follows. First, supplier's brand awareness has a positive effect on market orientation, but did not affect long-term orientation. Brand awareness of suppliers indicates that they are not directly related to long-term orientation. Second, supplier's brand image has a positive effect on market orientation and long-term orientation in b2b transaction. So, the brand image and reputation of the supplier suggest that it is important for the b2b transaction to have a market orientation tendency or a long-term orientation. Third, supplier's relationship value has a positive effect on long-term orientation, but does not affect market orientation. Relationship value indicates that they are not directly related to market orientations of the buyer. Fourth, Market orientation has a positive effect on long-term orientation and marketing performance and long-term orientation has a positive effect on marketing performance in b2b. Additionally, the buyers market and long term orientation are important factors in marketing performance in b2b. ' Conclusions - Based on empirical results, this study confirmed that brand image rather than brand awareness positively influenced long-term orientation as well as market orientation in b2b. Relationship value can be found in transactions, which is important for long-term orientation. Especially, these findings are suggestive in the consumer goods distribution market.

• Journal of the Korean Society of Clothing and Textiles
• /
• v.31 no.7
• /
• pp.1107-1118
• /
• 2007

Relationship marketing research has traditionally focused on the relationship among customer satisfaction, trust, and customer commitment, while assuming that the causal relationship of customer $satisfaction{\rightarrow}trust{\rightarrow}commitment$ is well understand. However, recently many scholars argue that customer satisfaction, trust, commitment can not explain long-term orientation fully, and suggest the need for more extensive researches investigating the determinants of long-term relational retention. The purpose of this study was to explained the relationship development process through the mediation effect of contact intensity and relationship termination cost between customer satisfaction and trust, and between trust and commitment, and an analysis the causal relationship among these variables. The results were as follows. First, the customer satisfaction had both direct and indirect effects on trust mediated by contact intensity. Second, the trust had both direct and indirect effects on commitment mediated by relationship termination cost. Third, the commitment influenced long-term orientation. Finally, the empirical results confirmed that the model add to the concept of mediation with contact intensity and relationship termination cost plays a strong, central role in explaining relationship development process between customer and fashion retail stores.

• Journal of the Korean Home Economics Association
• /
• v.47 no.7
• /
• pp.97-107
• /
• 2009

This study investigated the impact of long-term relationship orientation on emotional characteristic in fashion stores and relationship characteristic between middle-aged and senior women and salespeople. This study employed survey method with questionnaire. Data were collected from 579 women who were from the age of forty to seventy. The data were analyzed using statistic methods(SPSS 15.0 and Amos 5.0) such as frequency analysis, cronbach $\alpha$, exploratory factor analysis, second-order confirmatory factor analysis, confirmatory factor analysis and structural equation modelling. The findings of this study were concluded as follows; Firstly, the income significantly affected on emotional characteristics(p < 0.01), but had no significant effect on long-term relationship orientation(p < 0.05). The higher income, the more respondents exhibited positive attitude and sensitive emotional characteristics as a sense of sight, hearing, smell, tactile and feeling to salespeople in the fashion stores. The path of structural equation was implemented as income variables $\rightarrow$ emotional characteristics $\rightarrow$ (relationship with salespeople variables $\rightarrow$ )commitment $\rightarrow$ long-term relationship orientation which turned out to be statistically significant at the 95% confidence level. Secondly, senior group(55~70yrs) was more positive relationship with salespeople compared to middle-aged group(40~54yrs). The precondition of get satisfaction and feeling of being cared from the salespeople were critical for long-term relationship orientation. The path of structural equation was carried out as age variables $\rightarrow$ relationship with salespeople variables $\rightarrow$ commitment $\rightarrow$ long-term relationship orientation which turned out to be statistically significant at the 95% confidence level.

• The Journal of Korea Robotics Society
• /
• v.5 no.1
• /
• pp.1-6
• /
• 2010

For the personal robot to serve humans as a companion in our daily life, it is obviously important that the robot should have a long-term relationship to users. In this paper, we introduce a simple idea on how to make the long-term relationship by using just low-cost and simple robots. We also describe the robotic artificial creature system to implement this idea. The artificial creature robots respond not only physical environment changes but also the logical information changes in the virtual world such as the Web. They consist of a control robot and several simple robots, which show users various group behaviors. Users have a relationship with them by observing these behaviors, rather than interacting with them. We separate physical robots and software applications in order that artificial creature robots can have more various behaviors made by various software applications. Finally, we implemented the system using a robot simulator to show some example cases.

• Journal of Distribution Science
• /
• v.20 no.10
• /
• pp.79-91
• /
• 2022

Purpose: As the shared kitchen sector evolves into a new trend in the restaurant industry, not only operational support but also the physical environment for services is ranked as an important success factors. Therefore, the purpose of this thesis is to study the effect of shared kitchen service quality on experiential value, relational commitment, and long-term orientation. Research design, data, and methodology: In this study, a questionnaire was used to verify the structural relationship between shared kitchen service quality, experiential value, relational commitment, and long-term orientation for tenant companies in shared kitchen companies. The data were analyzed by using Partial Least Square-Structural Equation Modeling (PLS-SEM). Result: Facilities and support for the service quality of the shared kitchen had a positive (+) effect on the experiential value, and the environment did not. In addition, experiential value showed a significant positive (+) effect on relationship commitment and long-term orientation, and relationship commitment showed a significant positive (+) effect on long-term orientation. Conclusions: It was confirmed that the support quality among service quality affects the relationship formation. Thus, attention should be paid to activities to support stable business activities from the perspective of B2B services.

• Journal of Distribution Science
• /
• v.22 no.1
• /
• pp.105-113
• /
• 2024

Purpose: This study sheds light on the need for trust in buyer-seller relationships in supply chains and explores why long-term orientation is important. It also investigates the effect on relationship performance. This study provides implication on how to build robust supply chains. Methodology: A survey was conducted with firms with supply chains in South Korea. A total of 350 valid questionnaires were analyzed through Entrust Survey-a sampling company. Structural equation modeling (SPSS 18.0 and AMOS) was employed to test the hypotheses. Results: Cognitive trust had a positive effect on emotional trust. Emotional trust had a positive effect on long-term orientation but did not have a significant effect on relationship performance. Long-term orientation was proportionate to relationship performance. Conclusions: Trust is a critical factor in supply chains. As business environments are rapidly changing, the uncertainties are also meaningful. Supply chains have collapsed owing to COVID-19, the Russia-Ukraine war, and the U.S.-China trade war, and they are only just recently being rebuilt. Maintaining relationships with supply-chain partners is vital, and promoting cognitive and emotional trust is necessary.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.13 no.2
• /
• pp.125-137
• /
• 2018

Credit unions organized and operated by the members of communities, work-places or groups are co-operative entities where customers act as owners not just transaction partners. The foregoing organizational characteristic of credit unions exerts beneficial effects on their customer relationship, and underscores the need for diversifying their relationship marketing strategies. This study sheds light on the structural relationship of credit unions in terms of principal variables of relationship marketing, i.e. relationship benefits, customer satisfaction and long-term relationship orientation. Specifically, we classify the relationship benefits into three sub-dimensions, i.e. confidence benefits, social benefits and special treatment benefits, and structuralize a causal model involving the customer satisfaction and long-term relationship orientation. From December 26, 2017 to January 26, 2018, A total of 360 questionnaires was collected. Of these, 346 were selected as the final samples, excluding 14, which are difficult to use in statistics. The reliability analysis, exploratory factor analysis, and regression analysis was performed by using the 'SPSS 24.0'. And confirmatory factor analysis, structural equation model analysis was performed by using 'AMOS 24.0'. The findings highlight the following. First, confidence benefits directly impact on the long-term relationship orientation, and indirectly influence the latter by the medium of customer satisfaction. Second, social benefits directly influence the long-term relationship orientation, without exerting any indirect effects on the latter via customer satisfaction. Third, special treatment benefits do not directly impact on the long-term relationship orientation but have indirect effects on the latter by the medium of customer satisfaction. Fourth, customer satisfaction has positive effects on the long-term relationship orientation. The findings suggest credit unions should establish a long-term relationship with their customers by providing them with confidence benefits to earn their trust and confidence, with social benefits to build a relationship of affinity and friendship, and with special treatment benefits to meet their needs in the long, not short and temporary, term.

• Asia-Pacific Journal of Business
• /
• v.15 no.3
• /
• pp.385-397
• /
• 2024

Purpose - The purpose of this study was to analyze the dynamic relationship between oil prices and macroeconomic variables (gross domestic product, consumer price index, and interest rate). Long-run and short-run effects of oil prices on these macroeconomic variables are examined. Design/methodology/approach - The vector error correction model (VECM) is used to examine the short-run and long-term causality of oil prices, and a hierarchical Bayesian vector autoregressive model (HBVAR) is used to find the impulse of oil shock and the response of other variables. Findings - First, oil prices do not have short-term causality with macroeconomic variables, but they have long-term causality with interest rates and GDP. Second, the long-term stable relationship of oil prices and other macroeconomic variables is important to find out causality. Third, oil shock increases interest rates and decreases GDP and consumer price. Research implications or Originality - The significance of this study is a new attempt to analyze the dynamic relationship between oil prices and macroeconomic variables by linking VECM and HBVAR. Although VECM can analyze the long-term relationship and short-term dynamics between oil prices and macroeconomic variables, it was difficult to identify the transmission path of the oil price shock. HBVAR is confirmed to be flexible because it can bypass the process of selecting VAR or VECM through unit root test and cointegration analysis, and it is expected to reduce uncertainty of selecting hyperparameters.