• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.139-145
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• 2019

This study examines the dynamic linkages between food price inflation and its volatility in the context of Sri Lanka. The empirical evidence derived from the monthly data for the period from 2003M1 to 2017M12 for Sri Lanka. The relationship between inflation rate and inflation volatility has attracted more attention by theoretical and empirical macroeconomists. Empirical studies on the relationship between food inflation and food inflation variability is scarce in the literature. Food price inflation is defined as log difference of food price series. The volatility of a food price inflation is measured by conditional variance generated by the FIGARCH model. Preliminary analysis showed that food inflation is stationary series. Granger causality test reveals that food inflation seems to exert positive impact on inflation variability. We find no evidence for inflation uncertainty affecting food inflation rates. Hence, the findings of the study supports the Friedman-Ball hypothesis in both cases of consumer food price inflation and wholesale food price inflation. This implies that past information on food inflation can help improve the one-step-ahead prediction of food inflation variability but not vice versa. Our results have some important policy implications for the design of monetary policy, food policy thereby promoting macroeconomic stability.

• The Journal of the Korea Contents Association
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• v.22 no.7
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• pp.10-17
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• 2022

Recently, with the issue of the 4th Industrial Revolution, many services using big data have been developed. Accordingly, studies have been conducting to utilize public data, which is considered as the most valuable data among big data. In this paper, we design and implement a food price information analysis system based on public big data. The proposed system analyzes the collected food price-related data in various forms from various sources and classifies them according to characteristics. In addition, the proposed system analyzes the factors affecting the price of food through big data analysis techniques and uses them as data to predict the price of food in the near future. Finally, the proposed system provides the user with the analyzed results through data visualization.

• The Korean Journal of Food And Nutrition
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• v.26 no.4
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• pp.919-927
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• 2013

Social commerce is becoming an increasingly popular shopping method among college women students. This study focuses on the influence of the satisfaction lavels and repurchasing intentions by consumers for restaurant and food choices according to social commerce attributes. In this survey, 351 valid surveys are being used to test the hypothesized (183 users and 168 non-usesr within 6 months), in order to ensure validity and reliability. As a result, factors such as perceived value, product diversity & information, delivery, ordering convenience, site character, price competitiveness, time pressure, and real time information are all being found. Factors of perceived value (p<0.001), price competitiveness (p<0.001), product diversity & information (p<0.05), delivery (p<0.05), and site character (p<0.05) significantly influence the customer satisfaction rates. Factors of perceived value (p<0.001), price competitiveness (p<0.001), time pressure (p<0.001), and site character (p<0.01) significantly influence the repurchasing intentions. In addition, it has been found that the customer satisfaction rates significantly influence repurchase intentions.

• Journal of the Korean Society of Food Culture
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• v.21 no.3
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• pp.254-261
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• 2006

The purposes of this study were to measure price elasticities of menu items of a family restaurant, identify differences of price elasticity between subgroups, and provide a comprehensive understanding on price elasticity. 3 menu items of a salad buffet family restaurant in Seoul were selected for analyses, and a questionnaire was developed through literature review and modified after pilot test. The questionnaires for main survey were distributed to 250 customers on their visit to the restaurant, and a total of 139 questionnaires were used for analyses (55.6%). Statistical analyses were conducted using SPSS Win (12.0) for descriptive analyses, t-test, ANOVA, and the main results of this study were as follows. The demands were expected very elastic to the changes in prices of all 3 menu items, and there were significant differences between groups of different company types. In addition, the changes in use were less affected by the changes in menu price when customers were satisfied with each menu item. On the basis of these results, it was concluded that price increases of menu items should be companied by quality improvement of products and services, and differentiated marketing strategy for each segments of customers would be helpful to profitability of the restaurant. Overall, measurement of price elasticity could help to predict customer behaviors on price changes, and give much useful information for managers and marketers of foodservice organizations in development of price strategies.

• Journal of the Korea Society of Computer and Information
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• v.24 no.3
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• pp.191-199
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• 2019

This study is about online purchases of foods that have been reluctant to deal with distribution processes and reliability issues. We find out that attributes of the online food market affects behavior intention and whether it differs according to consumption tendency. A survey was conducted on consumers who had ever purchased food online for hypothesis testing. Reliability and feasibility were reviewed for the collected data and the hypothesis was verified through structural equation model analysis. While product diversity, product information and customer service factors of the online food market significantly affect behavior intention, price is not. We identified differences in the impact of behavior intention on consumption tendencies. For the Gaseongbi group, only the product information factors have significant effect on behavior, and for the Gasimbi group, the price and customer service factors have a significant effect on behavior intention. The findings provide theoretical and practical implications for marketers to study various marketing method based on consumer tendencies.

• Culinary science and hospitality research
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• v.13 no.4
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• pp.19-30
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• 2007

The purpose of this study was to gather useful information for establishing an efficient marketing direction by investigating the flavor, serving patterns, price and cooking method of Dong-rae Pajeon which is a native local food of Pusan area. A questionnaire was answered by 226 citizens who experienced Dong-Lae Phajeon. The study data were analyzed by frequency analysis, t-test, ANOVA, and multiple regression analysis. The findings are summarized as follows: The flavor, presentation, types of oil, and price of Dong-rae Pajeon had influence on the satisfaction of respondents. To globalize Dong-rae Pajeon, 'developing its cooking method', 'decreasing its price', and 'developing its serving patterns' should be considered.

• The Korean Journal of Community Living Science
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• v.19 no.4
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• pp.537-546
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• 2008

The purposes of the study was to identify customers' satisfaction factors regarding foods and services in food courts in big department stores and discount stores in Seoul and Cheonan. A survey of 235 customers was conducted regarding customer satisfaction levels and factors of food and services. Customers' perceived level of attributes were identified into eight underlying dimensions by factor analysis as follows: factor 1 was "cleanliness": factor 2 "service quality": factor 3 "accuracy": factor 4 "atomosphere": factor 5 "food quality": factor 6 "menu information": factor 7 "price" and the eighth factor was "food result". Regression analysis indicated that "cleanliness" was found to be the most important factor contributing to customers' overall satisfaction. There were significant differences in customers' perceived satisfaction level of "food quality"(p<0.01), "accuracy", and "price" factors(p<0.05) between department stores and discount store. The customers' perceived satisfaction levels of "accuracy", "food quality" and "price" factor at a large store food court are higher than those of department store food court. Comparing location of food court, there were significant differences in customers' perceived satisfaction level of "accuracy" and "price" factors between in Seoul and Cheonan(p<0.001). The customers' perceived satisfaction levels of "accuracy" and "price" at the discount store in Seoul are lower than those of food court at Cheonan. It is suggested that the management should pay attention to the sanitation of their dinning halls, kitchens, hygienic dishes, hygienic water fountain, employee hygiene, and a proper place to put used dishes to increase the customers' satisfaction.

• Fashion & Textile Research Journal
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• v.18 no.3
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• pp.301-316
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• 2016

Due to the dramatic increase in consumers' price sensitivity and growing importance for global retailers to create relevant price strategies, this study investigates the global pricing strategy of the main SPA brands such as ZARA, H&M and UNIQLO. Based on price information shown on official website, the study developed SPA brand index by using exchange rates in terms of US dollars and ratio of differences between the local price and the US price. These figures were compared with GDP per person data in order to analyze each brand's price level against the income level. The study also compared SPA brand index with Big Mac index to identify the difference in price levels between the fast fashion market and the fast food market. ZARA and H&M were mostly targeting Middle East and Asia as a high-price market when considering index only. After taking the income level into account, however, Asia came out be the highest price market and Middle East was similar to the US market. On the other hand, UNIQLO targeted Asia as the lowest price market and the US and EU as the highest in terms of index only. But, Asia came out to be the highest price zone after considering the income level while the price of the US and EU was reasonable. Comparison with Big Mac Index indicated that most of Asia had a higher price level of the fashion market than the food market, whereas most European countries had a similar or high-price level of food market.

• Journal of the Korean Home Economics Association
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• v.35 no.4
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• pp.269-282
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• 1997

The purpose of this research is to analyze perceptions of consumers and willingness to play for high-priced food. The price dispersions of four food categories - soybean sprouts, tofu, milk, and egg - were analyzed through the market analysis, and the survey with the structured questionnaire was utilized to get information on the reason why consumers buy and don't buy the high-priced food. It tested whether a consumer would change the choice if the new product information on safety issues is offered and if the price of high-priced food is lowed. Results showed that generally consumers don't have the confidence on the level of safety and comparative advantages of quality of high-priced food, but they just purchase the high-priced food as long as they can afford it.

• The Korean Journal of Food And Nutrition
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• v.22 no.3
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• pp.338-344
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• 2009

This study analyzed consumers' willingness to pay for price increases to avoid the purchase of GM foods by the expansion of GMO labeling. The subjects were asked about their knowledge of GM, concerns of potential hazards, and sources of obtained GM information. The logit model was employed and marginal effects were calculated to interpret the results. The results showed that consumers who perceived the safety of GM technology were less likely to pay for price increases, while consumers who had concerns about GM foods were more likely to pay. In addition, the study demonstrated that consumers residing in urban areas and with low levels of education and income were also less likely to pay for price increases.