Dimensions of Experiential Value - Is it same across Retail Channels?

Jin Byoungho,Yong?Ki Lee,Soon Hong Kwon 한국마케팅과학회 2006 한국마케팅과학회 학술대회 발표 논문집 Vol.- No.-

While empirical importance of dimensionality of perceived value is widely accepted, our understanding of experiential value dimensions in other retail channels and other cultures has not been explicitly tested. This study attempted to determine if the dimensions of experiential value scale (EVS) by Mathwick, Malhotra, and Rigdon (2001) identified in US catalog and Internet contexts could be applied in other international markets (South Korea) and in other retail channels (department store versus Internet shopping mall). Two data sets, one from 220 department store shoppers via mall intercept method and the other from 359 Internet shopping mall shoppers via online survey method, were analyzed. Confirmatory factor analysis confirmed four different EVS dimensions by retail channels. Overall, entertainment and intrinsic enjoyment values were found to be more important in department store while economic and efficiency value dimensions were interpreted critical in Internet shopping mall context. Visual appeal aspect constitutes distinct value dimension in two channels. In case of department stores, shoppers’ perception of the EVS dimensions varied by demographic variables, while no significant difference was found among Internet shoppers. Managerial implications, study limitations and directions for future research were discussed.

How Are Born Globals Different from Non-Born Global Firms? Evidence from Korean Small- and Medium-Sized Enterprises

Byoungho Jin,Hongjoo Woo,Jae-Eun Chung 한국무역학회 2015 Journal of Korea trade Vol.19 No.3

Born global (BG) firms internationalize rapidly at or near their inception to the world’s multiple lead markets such as the US and Europe, which contrasts with the classic internationalization theory (i.e., Stage model) that views internationalization as a gradual process. Most BG studies focus on describing BGs and why firms choose apid internationalization has yet to be sufficiently addressed. This study was designed to understand what factors are related to BG among Korean small- and medium-sized enterprises (SMEs). Bounded by the liability of smallness, SMEs are deficient in financial and human resources, which are typically known as inhibitors of internationalization. Nonetheless, some SMEs internationalize rapidly at or near founding beyond the home continent and become BGs. In order to clearly identify factors related to BGs, two groups (BGs versus Non-BGs) were predicted by eight potential BG related factors. Analyses of 480 survey data collected from Korean SMEs nationwide revealed that among the eight BG related factors, five are found to be significant. That is, Korean SMEs with high entrepreneurial proclivity, highly unique product development, high R&D investment, less foreign network and export consumer products were discovered to be BGs. The findings of this study contribute to advancing BG theories in that, it provides empirical evidence that clearly articulates the “why rapid” aspect of BGs.

The power of 4th industrial revolution in the fashion industry: what, why, and how has the industry changed?

Byoungho Ellie Jin,Daeun Chloe Shin 한국의류학회 2021 Fashion and Textiles Vol.8 No.1

The 4th Industrial Revolution (4IR henceforth) is fundamentally reshaping the way we live and work. Each industrial revolution has evolved to solve major problems in society. This study views unmatched demand and oversupply as the major problems in the fashion industry and posits that 4IR technologies are being deployed to solve these problems by addressing three prime goals—hyper-personalization, environmental sustainability, and productivity. Based on a literature review and analyses of global industry cases, this study examines what, why, and how the 4IR technologies address these three prime goals. By comparing successful cases that do not utilize the 4IR technologies with those that do, this study highlights that innovative business models that address the unmet needs of the consumers are more important than technology adoption per se. Drawn from ample global cases, the fndings can ofer strategic directions for fashion frms preparing for unforeseeable changes that are further being accelerated by the Covid-19 pandemic. This study concludes with insights into how 4IR is shaping the fashion industry and raises thought-provoking questions for the industry and academia. The 4th Industrial Revolution (4IR henceforth) is fundamentally reshaping the way we live and work. Each industrial revolution has evolved to solve major problems in society. This study views unmatched demand and oversupply as the major problems in the fashion industry and posits that 4IR technologies are being deployed to solve these problems by addressing three prime goals—hyper-personalization, environmental sustainability, and productivity. Based on a literature review and analyses of global industry cases, this study examines what, why, and how the 4IR technologies address these three prime goals. By comparing successful cases that do not utilize the 4IR technologies with those that do, this study highlights that innovative business models that address the unmet needs of the consumers are more important than technology adoption per se. Drawn from ample global cases, the findings can offer strategic directions for fashion firms preparing for unforeseeable changes that are further being accelerated by the Covid-19 pandemic. This study concludes with insights into how 4IR is shaping the fashion industry and raises thought-provoking questions for the industry and academia.

Consumer store experience through virtual reality: its effect on emotional states and perceived store attractiveness

Byoungho JIN,김귀아,Marguerite Moore,Lori Rothenberg 한국의류학회 2021 Fashion and Textiles Vol.8 No.1

Based on the stimuli-organism-response model, this study aims to examine whether consumers’ store experience through virtual reality (VR), compared to website experience, can attract them enough to perceive the online store as appealing. Two types of stimuli were developed for the experiments: consumers’ VR store experience (106 data) (i.e., having respondents experience 360-degree-based VR store videos recorded at a fashion retailer) and store website experience (107 data) (i.e., having respondents experience the same store’s website). The results revealed that relative to an ordinary store website, consumers’ VR store experience evoked positive emotions and increased perceived store attractiveness. This study also discovered that store familiarity does not moderate the relationship between the two store experience types and evoked emotions, implying that VR technology is effective regardless of consumers’ familiarity with a store. Text analytics were also utilized, providing additional insights about their VR store experiences. This study suggests an effective method for online retailers to emulate an attractive store environment and entice consumers through VR, regardless of the retailers’ fame. Specifically, it demonstrates the effectiveness of VR over website in enhancing store attractiveness, an under-studied area.

Asymmetric Impact Country Image and Materialism on the Purchase Quality Evaluation

Byoungho Jin(진병호),Naeun Kim(김나은),Heesoon Yang(양희순),Minji Jung(정민지) 한국경영학회 2017 한국경영학회 통합학술발표논문집 Vol.2017 No.08

본 연구는 미국, 중국, 프랑스, 베트남에 거주하는 소비자를 대상으로 한국의 국가이미지와 소비자의 물질주의가 한국 화장품의 지각된 품질에 미치는 영향을 실증적으로 분석하였다. 국가이미지를 국가의 전반적인 차원인 거시적 국가이미지와 특정 국가의 제품 차원인 미시적 국가이미지로 분류하였고 연령, 성별, 한국방문경험, 한국 화장품 구매경험을 통제변수로 하여 그 영향력을 살펴보았다. 이를 위해 만 20세 이상의 남․녀 소비자를 대상으로 성별, 연령별로 할당표집하여 온라인설문조사를 실시하였으며, 총 900부가 최종분석에 활용되었다. 분석방법은 SPSS 20.0을 활용하여 다중회귀분석을 실시하였다. 본 연구의 결과는 다음과 같다. 첫째, 거시적 국가이미지, 미시적 국가이미지 그리고 물질주의 모두 지각된 품질에 정적 영향을 미치는 것으로 드러났다. 그 가운데 거시적 국가이미지의 영향력이 가장 큰 것으로 나타났다. 둘째, 독립변수의 영향력을 국가별로 살펴보기 위해 국가별로 회귀분석을 실시한 결과 미국과 프랑스 소비자의 경우 거시적 국가이미지와 미시적 국가이미지가 지각된 품질에 영향을 미쳤으며, 거시적 국가이미지의 영향력이 더 큰 것으로 나타났다. 셋째, 중국 소비자의 경우 미시적 국가이미지만 영향을 미치는 것으로 밝혀졌으며 베트남 소비자의 경우, 미시적 국가이미지와 물질주의가 영향을 미치는 것으로 나타났다. 이에 따라 한국 화장품 수출을 증가시키기 위해 제품이미지뿐만 아니라 한국의 국가이미지 향상에 노력을 기울일 필요가 있다. 또한 국가의 경제발전수준과 소비자의 특성을 고려하여 마케팅 전략을 수립할 필요가 있다. Focusing on cue theory, the purpose of this study is to examine the impact of overall country image (i.e., macro country image), product-specific country image (i.e., micro country image) and materialism on perceived quality of Korean cosmetics. Data were collected through online survey in four countries, representing two leading developed countries (U.S. and France) and two important emerging countries (China and Vietnam). Multiple regression analysis was used to analyze the data. Overall, the results revealed that the positive effects of country image and materialism on product evaluation. Among their effects, the impact of micro country image was the greatest and robust across all four countries. However, the transfer of macro country image on quality evaluation was significant only in U.S. and France, not in China and Vietnam. Further, the findings found that the transfer of materialism among consumers to product quality was significant only in Vietnam, which implies that strong impact of materialistic consumers in emerging markets may attach products from more developed markets. Theoretical explanations and practical implications for apparel companies and governments are provided.

Polymorphism analysis of tri- and tetranucleotide repeat microsatellite markers in Hanwoo cattle

( Shil Jin ),( Jeong Il Won ),( Hyoun Ju Kim ),( Byoungho Park ),( Sung Woo Kim ),( Ui Hyung Kim ),( Sung-sik Kang ),( Hyun-jeong Lee ),( Sung Jin Moon ),( Myung Sun Park ),( Yong Teak Sim ),( Sun Sik 한국축산학회 2024 한국축산학회지 Vol.66 No.4

The Hanwoo traceability system currently utilizes 11 dinucleotide repeat microsatellite (MS) markers. However, dinucleotide repeat markers are known to have a high incidence of polymerase chain reaction (PCR) artifacts, such as stutter bands, which can complicate the accurate reading of alleles. In this study, we examined the polymorphisms of the 11 dinucleotide repeat MS markers currently employed in traceability systems. Additionally, we explored four trinucleotide repeat MS markers and one tetranucleotide repeat MS marker in a sample of 1,106 Hanwoo cattle. We also assessed the potential utility of the tri- and tetranucleotide repeat MS markers. The polymorphic information content (PIC) of the five tri- and tetranucleotide repeat markers ranged from 0.663 to 0.767 (mean: 0.722), sufficiently polymorphic and slightly higher than the mean (0.716) of the current 11 dinucleotide repeat markers. Using all 16 markers, the mean PIC was 0.718. The estimated probability of identity (PI) was 3.13 × 10^-12 using the 11 dinucleotide repeat markers, 7.03 × 10^-6 using the five tri- and tetranucleotide repeat markers, and 2.39 × 10^-17 using all 16 markers; the respective PIhalf-sibs values were 2.69 × 10^-9, 1.29 × 10^-4, and 3.42 × 10^-13; and the respective PIsibs values were 3.89 × 10^-5, 9.6 × 10^-3, and 3.69 × 10^-7. The probability of exclusion1 (PE1) was 0.999864 for the 11 dinucleotide repeat markers, 0.981141 for five of the tri- and tetranucleotide repeat markers, and > 0.99 for all 16 markers; the respective PE₂ values were 0.994632, 0.901369, and > 0.99; and the respective PE₃ values were 0.998702, > 0.99, and > 0.99. The five investigated tri-and tetranucleotide repeat MS markers can be used in combination with the 11 existing MS markers to improve the accuracy of individual identification and paternity testing in Hanwoo

의복구매시 소비자가 지각하는 가격 (제1보) : 의복가격 차원의 타당성 검증 Testing the Validity of Dimensions of Clothing Price

진병호 한국의류학회 1998 한국의류학회지 Vol.22 No.3

Price, one of the marketing 4p's, is a key decision variable affecting market share and the profitability of individual products. For consumers, since price is almost always known to and can be compared, it is one of the most important criteria when they make a purchase decision making. With the consumers' increasing consciousness for price due to economic recession, and the saturation of domestic apparel market, it is expected that the effect of price on consumers' decision making would be greater than ever. This study, the first in two part series, focuses on testing the validity of dimensions of clothing price using Lichtenstein et. al. (1993)'s suggestion. In addition, the effect of demographic variables on the perception of each price dimension was investigated. The subjects were 264 college students living in Seoul, Korea. The data were collected by self -administered questionnaires and analyzed by t-test, ANOVA, regression analysis and Lisrel confirmatory factor analysis. The result supported Lichtenstein et. al. (1993)'s suggestion. That is, consumers' perception of clothing price is not uni-dimensional, but has six dimensions: sale proneness, price mavenism, value consciousness, price consciousness, price -quality schema and prestige sensitivity. Demographic variables partially effect on the consumers' perception of each clothing price dimension. The level of monthly pocket money, however, has influence on all price dimensions. Based on these results, marketing implications for apparel manufacturers were suggested.

의류제품에 대한 상표충성도의 영향변인

진병호,고애란 연세대학교 생활과학대학 1996 生活科學論集 Vol.10 No.-

The purpose of this study was to investigate the influence variables of clothing brand loyalty such as consumer satisfaction, information search, perceived risk, product involvement, consumer knowledge and demographic variables on clothing brand loyalty. And the influence of the subdimensions of those variables on clothing brand loyalty were specifically analyzed. Additionally, the brands that consumers become loyal to and the sources that consumers learn about them were analyzed. The subjects were 505 male and female white collar workers in their twenties and thirties living in Seoul, Korea. The data were collected using self-administered questionnaires and analyzed by Factor Analysis, Regression, ANOVA, 2-test, t-test, and Frequency. The results of this study showed that the higher the consumer satisfaction, the information search, the perceived risk, the product involvement, and consumer knowledge, the higher the clothing brand loyalty. Women and unmarried subjects were most likely to be brand-loyal consumers. Subdimensions of six influence variables were partially influenced on clothing brand loyalty. Consumers showed multi-brand loyalty and were more brand-loyal to classical-style brands and national brands. The most frequently mentioned source to learn about the brands was window shopping for both men and women, and the next was television advertisement for men, and word of mouth for women.

Asian apparel brands’ Internationalization: the application of theories to the cases of Giordano and Uniqlo

우홍주,Byoungho Jin 한국의류학회 2014 Fashion and Textiles Vol.1 No.1

How did Asian apparel brands internationalize in the competitive global apparel market? Although Asian brands are becoming global, most of previous research on internationalization was limited to the cases of the brands having Western-origins. This study aimed to explore the internationalization patterns of two leading Asian apparel brands, Giordano and Uniqlo, applying existing internationalization theories. For analysis, a case study approach was adopted by analyzing the secondary data from company reports, websites, and trade publications, following the previous case studies. Today Giordano and Uniqlo are operating more than 2,000 stores worldwide. They internationalized to the geographically close markets first, and then extended the businesses to far distance countries following the Uppsala model. Both brands are focusing on Asian developing countries recently. The two brands’ integrated supply chains and the positioning concept as basic, quality apparel at low price contributed to facilitating their internationalization. The findings confirm the existing internationalization theories and add the empirical cases of Asian brands to literature. This study also provides a managerial implication for the other brands seeking internationalization opportunities, especially for the brands with Western-origins, that need to compete with growing Asian competitors in global marketplaces.

상장지수펀드의 주식보유비중과 변동성에 관한 검정

최병호(Byoungho Choi),김시청(Shiqing Jin),한재훈(Jaehoon Hahn) 한국증권학회 2022 한국증권학회지 Vol.51 No.3

본 연구는 상장지수펀드가 보유하고 있는 개별 주식에 대한 보유비중이 해당 주식의 변동성에 영향을 미치는지 검정하였다. 코스피200을 기초자산으로 추종하는 상장지수펀드와 이들이 보유한 주식을 바탕으로 보유비중과 변동성 간의 관계를 검정한 결과, 내생성을 고려하지 않은 분석에서는 상장지수펀드의 보유비중과 주식의 변동성 간 음의 상관관계를 보였다. 하지만 코스피200 구성종목에 대한 편입 및 탈락 여부를 도구변수로 사용한 2단계 최소자승 회귀분석에서는 상장지수펀드의 보유비중이 높아질수록 주식의 변동성도 유의적으로 높아지는 현상을 발견하였다. 이러한 변동성의 증가는 상장지수펀드의 보유비중이 높아질수록 기관투자자와 외국인투자자의 거래빈도와 매수-매도 불균형이 유의적으로 증가하기 때문인 것으로 나타났다. 반면, 상장지수펀드의 보유비중이 개인투자자의 거래 행위에 영향을 미친다는 증거는 찾을 수 없었다. 본 논문은 최근 급성장하고 있는 상장지수펀드가 간접투자의 활성화라는 본래 목적과는 달리 기업가치와 무관한 변동성 증가라는 의도하지 않은 결과를 초래할 수 있음을 밝혔다는 점에서 의의가 있다. This study investigates whether exchange-traded funds (ETFs) increase the non-fundamental volatility of stocks in their baskets via the arbitrage channel. Since the price and the net asset value of the ETF underlying stocks are tied by arbitrage, liquidity shocks to the ETFs may propagate to the underlying stocks through arbitrage trading, which is called the liquidity trading hypothesis. We test the implications of this hypothesis using a sample of ETFs that track the KOSPI200 index. We address the potential endogenous relationship between ETF ownership and stock volatility using the KOSPI200 index reconstitution event as an instrumental variable in the two-stage least squares regression framework; we find the effect of ETF ownership on stock volatility is positive and significant. We also provide empirical evidence that foreign and domestic institutional investors exhibit more frequent trading in the opposite direction and higher-order imbalances for stocks with higher ETF ownership. In summary, our findings suggest that the growth of the ETFs in the Korean stock market may have had an unintended consequence of the higher volatility of ETF-underlying stocks.