• Title/Summary/Keyword: Traditional Market Success Factors

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An Empirical Study on Digital Transformation of Traditional Markets; Focused on Traditional Market Delivery Application (전통시장의 디지털 전환에 관한 연구; 전통시장 배달 앱을 중심으로)

  • Hong, Susie;Yang, Jong-Gon
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.22 no.6
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    • pp.484-491
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    • 2021
  • This study was undertaken to identify success factors of traditional market delivery apps and lead digital transformation of traditional markets. The success factors of traditional market delivery apps are represented by four variables: system characteristics of the app, delivery, products, and responsibility towards customer responses. These factors were analyzed to examine their impact on the operations performance. Data was collected by surveying 148 traditional market business owners. Results of the empirical analysis revealed that the app system characteristics, delivery characteristics, and product sales promotion, impart a significant effect on the operations performance. Conversely, the customer response characteristics showed no significant effects. This could be because some apps lack the function to check customer reviews and respond appropriately. Currently, where traditional market delivery apps are in the early stages of implementation and are gradually expanding, data obtained from this study helps to identify characteristics of traditional market delivery apps, and offers suggestions to create development indicators of the traditional market delivery apps by analyzing their effects on operational performance, thereby contributing to the revival of traditional markets through digital transformation.

Success Factors for Developing Urban and Rural Traditional Marketplace as a Tourist Attraction: The Case of Seoul Gwangjang Market and Jangheung Toyo(Saturday) Market (도시 및 농촌 관광명소 전통시장의 성공 요인: 서울 광장시장과 장흥 토요시장을 사례로)

  • Lee, Jaeha
    • Journal of the Economic Geographical Society of Korea
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    • v.17 no.2
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    • pp.366-384
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    • 2014
  • This study aims to investigate the success factors of each market through the case study of Seoul Gwangjang and Jangheung Toyo(saturday) market which have recently developed as tourist attractions among urban and rural traditional markets in Korea. In terms of location, market week, establishment and management of traditional market, Gwangjang is a private and daily market located in the city center of Seoul, and Jangheung Toyo is a public and periodic market located in rural Jeolla Nam-do Province. Nevertheless those differences, two markets have successfully developed as tourist attractions by the complexity of generally common five factors. Those are the factors such as surrounding location of famous tourist attractions, competitive staple goods(items), price competitiveness for goods, roles of local government and(or) public institution, and marketplace promotion through the mass media. These factors will have a significant implication for the development policy from traditional market to tourist market or tourist attraction.

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Exploring Success Factors of Night Markets: Utilizing the Diamond Model (야시장 성공요인의 탐색적 연구)

  • Nam, Sung-Jip
    • The Journal of Industrial Distribution & Business
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    • v.8 no.2
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    • pp.33-38
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    • 2017
  • Purpose - The objective of the current research is to explore success factors of the 'Night Markets' in Korea. Unlike other countries, where the markets are culturally established based upon various socioeconomic factors, the night markets are relatively new phenomena in Korea and are created by the government's support. Since the first introduction in 2011, now there are 34 Night Markets that are operating or are in the process of operation. Some of them attract nearly 100,000 customers a day, while some are discontinued shortly after the introduction due to lack of visitors. Its influence on the customers' behavioral motives of engaging in various activities in the night markets is increasing. However, because of its brief history in Korea, not much of research has cast attention on them. It is imperative to figure out the success factors of the night markets, so that other night markets can learn the secret of successful operation of the markets. Research design, data, and methodology - The research is based upon both qualitative and quantitative data. Data are collected from multiples levels of the night market related parties. Four groups are chosen: customers, night market sellers, sellers' union and government officers who are in charge of the market. Conventional survey formats are employed for customers and night market sellers. For night market union and government officers, survey and in-depth focus group interview methods are applied. Of the night markets in operation, commonalities of successful or well established ones are elaborated. Results - Night Market operation success factor are sought utilizing Porter's The Competitive Advantage of Nations model (1990). Results are shown that successful night markets commonly have satisfactory 'Factor Conditions.' Specifically, established night markets have either nearby big cities or tourist attractions in common. While these have fair 'Firm Strategy/structure/rivalry,' and 'Related and supporting industries,' they commonly demonstrate weakness in 'Demand conditions.' Conclusions - A successful night market incurs new customers not only to the market itself but also to the traditional periodical market the night markets are within. Government support to the night market can be justified where the circulation of new customer to the night market and the night market to the periodical market mechanism is in effective.

A Study Exploring Factors for Strategic Advantage from Electronic Commerce (전자상거래로부터 전략적 우위를 확보하기 위한 요인 탐색에 관한 연구)

  • Park Kwan-Hee
    • The Journal of Information Systems
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    • v.12 no.2
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    • pp.91-107
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    • 2003
  • As EC replaces traditional market methods in many places, the market size of EC is greatly expanding year by year according to some researchers. Even though several researchers have proposed several success factors for the success of EC, there are many differences among these factors. The main purpose of this research is to improve the original research works of Lederer et al.(2001) which might have some more modification works. This study modified and added several success factors based on the original research works of Lederer et al.(2001). This modified research works have been tested by using SPSS and Lisrel statical packages. The results of this study shows some improvements against the of original works of Lederer et al.(1991).

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A Study on the Success Factors of K-Pop by Big Data Analysis -Focusing on the U.S. Music Market- (빅데이터 분석을 통한 케이팝 성공요인 분석 -미국음반시장을 중심으로-)

  • Kim, Ji Yean
    • Proceedings of the Korean Society of Broadcast Engineers Conference
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    • 2015.11a
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    • pp.31-34
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    • 2015
  • The U.S. music market is a lucrative market for many foreign musicians due to its sheer size and it continues to play a leading role in the world music industry. However, it is a challenge to gain entry into that market and an even greater challenge to achieve success and fame within it. In fact, changes in the media paradigm have allowed for musicians to be able to independently produce their own songs and promote them globally. Some scholars address that the media paradigm shifting from traditional outlets to new outlets gives a chance to bypass traditional gatekeepers when entering the U.S. music market. Based on this scenario, this article examined two songs from Korean singer, Psy: Gangnam Style and Gentleman as a single case study. Utilizing Google Trends as a source of information, this study examined how each song's recognition among American music fans was different based on radio spins on Top 40 commercial radio stations. This article sheds new light on radio, which has been neglected due to the media paradigm shift, and presents how radio programmers are part of a complicated gatekeeping process which ultimately decides which songs are to gain popularity.

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A Study onThe Success factors of Mobile Games (모바일게임의 성공요인에 대한 연구)

  • Kim, Do-Goan;Nam, Su-Tae;Jin, Chan-Yong
    • Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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    • 2014.05a
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    • pp.189-191
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    • 2014
  • Todays, with the spread of Mobile devices, game industry has experienced the change of supply chain structure and paradigm. Breaking the traditional supply chain of game industry, mobile games of App. markets provide alternatives or threats against traditional game industry. With the mobility as a strongpoint, mobile games have their own characteristics such as convenience, easy of use and simplicity comparing PC games or other games. In this point, this study is to find success factors of mobiles games through the analysis on the highly ranked favorite games according to the types of mobile games.

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Critical Factors Affecting Successful Client Satisfaction Management of Companion Animal Hospital (반려동물병원의 고객만족경영 성공요인에 관한 연구)

  • Baik, Choong-Ki;Shin, Cheol-Ho;Kim, Bo-Young
    • Journal of Veterinary Clinics
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    • v.29 no.1
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    • pp.49-57
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    • 2012
  • Success of any business solely is dependant on how to satisfy clients in healthcare-related industry. In the short history of Korea pet-care industry, there were not many guidelines on client satisfaction management of companion animal hospitals. The studies on many pet healthcare facilities were conducted based on their cost-benefits and the advantages of medical operation within special features of the traditional hospital management system. However the companion animal hospitals recently need to improve the service quality and client closed communication in keen competition on pet healthcare market. This study explores client satisfaction management could be the new issue of the veterinary hospital business. And it finally suggests of the critical factors affecting successful client satisfaction management of companion animal hospital based on the eight case studies.

A Study of Korean Traditional Creative Music Groups: How They Are Performing in North America and How to Support Them (한국 전통창작음악단체 북미 진출현황과 활성화 방안 연구)

  • Won, Hye-Yeon;Kwon, Hyeog-In
    • The Journal of the Korea Contents Association
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    • v.22 no.8
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    • pp.180-190
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    • 2022
  • This study reviews the current status of Korean traditional creative music groups that have entered the North American World Music market. It also explores some success factors and strategies behind the artists' sustainable activities in the region as well as improvements needed for the Korean government's support. For the purpose of realistic suggestions, music groups that have entered the North American World Music market and experts in artists' global activities have been interviewed for analysis. The interview questionnaire consisted of the following items: 1. how the music groups reached the North American market, 2. what made them successful, 3. what strategies they used to perform in the region, 4. what challenges they faced, and 5. how the government support could be improved. The study found the following success factors: the groups' participation in Korean and international music markets, existence of a local agency, uniqueness and popularity of Korean music, and possibility to organize workshops. It also identified the following challenges: absence of lucrative touring plans, complicated visa issuance, and limitations of networking. It is hoped that this research will provide useful information for music groups planning to enter the North American World Music market and that it will make some meaningful policy suggestions to relevant organizations.

Exploratory Study on the Success Factors of SPA Brands from Marketing Perspectives -Based on Grounded Theory- (SPA 브랜드의 마케팅 성공요인 탐색 -근거이론을 중심으로-)

  • Kim, Kyung Ran;Yang, Su Jin
    • Journal of the Korean Society of Clothing and Textiles
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    • v.39 no.2
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    • pp.190-203
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    • 2015
  • The fashion industry has been rearranged by Global SPA brands (like ZARA and H&M), which are powerful retailers that integrate the value chain ranging from manufacturing to sales. SPA brands can offer good quality of clothing at a reasonable price by cutting the margin between the supply chain. They are also called fast fashions since they make expedited efforts to respond to market trends and consumers. Despite the slow growth of the fashion industry in Korea, as global SPA brands rapidly expand market share, traditional fashion companies have launched several SPA brands such as MIXXO and SPAO (E-LAND), 8SECONDS (CHEIL INDUSTRIES). The few academic studies on this subject are focused on the analysis of secondary data such as news and books. The current research is qualitative and empirical attempts to explore the success factor of SPA brands with analysis of 1:1 in-depth interviews with experts who have worked for global SPAs such as Uniqlo, H&M, and ZARA, based on the grounded theory. The main phenomenon was shown to be that global SPA brands were popular since they offer a variety of products with a large assortment at reasonable and cheap prices in a large scale and multifunctional retail store. Most of them displayed main phenomena that can be realized due to the purchasing cycle of clothing that is shorter with consumers' regarding clothing as consumables. Global SPA brands had three types of marketing strategy: sellable product, sales strategy according to consumer response, and multifunctional stores. Each global SPA brand developed marketing strategies based on core competency and national conditions. The three success factors shorten the consumer decision making process of clothing. This study concludes with implications for practitioners of SPA brands born in Korea.

The Impacts of Entrepreneurial Proclivity and Merchandising Strategy on Conventional Market and Its Policy Implications (한국 재래시장상인의 창업가정신과 상품화 전략이 시장이미지와 경영성과에 미치는 영향과 재래시장 정책에 대한 시사점)

  • Suh, Geun-Ha;Yoon, Sung-Wook;Suh, Chang-Soo
    • Journal of Distribution Science
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    • v.7 no.3
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    • pp.71-100
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    • 2009
  • The main purpose of this study is to define relevant factors that influence successful start-ups and management innovations of traditional markets from the point of market structures and relations. To do this, we devide an entrepreneurship of merchant into two factors, risk taking and managerial experience and choose product planning and its implementation to see merchandising of traditional markets. In this study we identify that several factors we chose are contributing to generating management performances through market promotional parameters. Also we confirm that image factors of traditional markets is consist of awareness and value of markets, and that these factors shows some sequential and continual patterns in the course of generating performances. In additions, it is identified that four independent factors have positive effects to star-up success; risk taking 0.29(t 2.61), managerial experience 0.04(t 1.79), merchandising implementation 0.374(t 2.61), market value 0.47(t 5.25), market awareness 0.22(t 2.30). This study can help merchants of traditional markets to make and change their market strategies, restructure their businesses and survive in the field. This also provide some ideas and guidances to relevant government agencies in formulating traditional market policies.

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