Visually superior design provides a competitive edge in the marketplace by attracting consumers and increasing the perceived value of product quality and functionality. Although the positive influences of visual product design on market performance are well documented in the literature, little is investigated on how visual design plays a role in a negative situation such as product failure. The positive halo effect of visual design on product evaluation is called ‘beauty premium’, while little is investigated on how beauty premium changes when consumers face product failure. For example, would the beauty premium continue or fire back when a product with superior design, called a ‘beauty’ in this study, has functional harm? To answer this inquiry, we focus on the following research questions 1) Would the beauty effect protect or damage consumer purchase intention and product sales after product failure, and 2) Under what conditions can beauty effects be positive or negative after product failure?

The social constructionist theory of art states that the value of art and luxury brand design is constructed by social interactions. It distinguishes between an independent "reality" and a socially constructed "reality," in which meanings can differ. However, research on luxury fashion brands mainly focuses on consumers' reality and rarely examines the topic through a social constructionist lens. This paper looks at the impact of worldwide luxury fashion "designers’ reality" on "consumers’ reality” when evaluating the brand. Three studies investigated how consumers and designers perceive premium and luxury brand design.

최고품질 벼 품종의 외래품종 대체를 위하여 국내 재배 외래품종의 선호 요인 분석을 위한 기초자료를 제공하고자 ‘추청’ ‘고시히카리’ 등 국내 선호도가 높은 외래품종의 취반시 미립의 모양과 체적변화를 조사한 바, 1. 취반 시간에 따른 입장은 최고품질 벼의 경우 ‘삼광’이 199%로 가장 높았고 ‘일품’이 172%로 가장 낮았으며 삼광’의 경우 배양 후 5~10분 사이에 입장이 가장 빠르게 늘어났고 ‘일품’은 취반시간에 따라 일정한 비율로 증가하였다. 2. 국내에서 선호되는 외래 품종의 경우 취반시 미립의 신장변이의 폭이 적었으며 ‘삼광’이나 ‘하이아미’에 비하여 일정한 비율로 증가하였으며 ‘고시히카리’와 ‘히토메보레’는 취반 15분 이후부터 신장율의 변화가 상대적으로 적었다 3. 미립 신장지수는 ‘삼광’과 ‘하이아미’가 ‘일품’보다 높았으며 ‘삼광’은 취반 10분 후 신장지수의 변화가 거의 일어나지 않았고 일품’과 ‘고시히카리’는 취반후 미립의 모양이 상대적으로 작게 변하였다. 5. 최고품질 벼 및 외래품종의 취반한 후 미립 모양은 조사한 모든 품종의 미립 표면이 다소 불규칙적으로 팽화하였지만 ‘고시히카리’의 경우 백미 원형을 가장 잘 유지하고 있는 것으로 나타났다.

This works aims to analyze pricing strategies among various luxury sectors as well as to identify latent structures between brands and categories. Unlike previous works, we investigated the firms’ perspective and worth instead of customers’ perceptions. For this purpose, we web scraped market-data from numerous luxury houses such as woman shoes, luxury cars, haute couture and men’s watches (own online shop/ foreign platforms). the results argue for a positive correlation between brand value and prestige pricing. Accordingly, Mercedes-Benz and Louis Vuitton build the most valuable brands in their industries. In Fashion, we found that LV is a feminine brand. Besides, in some categories, a thoughtful competition is coming from lower-scaled companies (premium) which poses real challenges for established high-end manufacturers. A hierarchical cluster analysis shows a significant gender effect in defining luxury categories. Unlike what many would think, men’s luxury items (e.g. shoes and watches) are significantly more expensive than female products.

This study examined the service quality attributes of the CVS (Convenient Store) packed meal products by applying the Kano model. The main survey was conducted by a research company using an online survey in the form of a selfadministered questionnaire. The 499 samples were limited to customers who had experienced CVS packed meal products within the last months. A total of 14 service quality attributes of the CVS premium packed meal products were categorized as four attractive qualities, one must-be quality, three one-dimensional qualities and six indifferent qualities. According to the Better and Worse quotient designed by Timko, ‘coupon and sales promotion event’, ‘healthy menu configuration’, and ‘balanced nutrition’ had higher levels of the Better coefficient. On the other hand, ‘hygiene and cleanliness’, ‘the delicious food’, and ‘fresh ingredients’ showed a higher Worse coefficient. The results also suggest that each service quality attribute is not a single dimension but a complex attribute. As a result, this research suggests that marketing practitioners should immediately identify consumer’s changing perception of quality to attract new customers and prevent existing customers from leaving in the CVS premium packed meal products segment.

Retailers procure private labels from several sources including national brand manufacturers, dedicated private label manufactures (often overseas or regional), and own manufacturing facilities.2 In the first case, the supplier utilizes its expertise and excess capacity to supply PLs. In the other two cases, the suppliers are dedicated to manufacturing PLs for single or multiple retailers. Consumers generally consider PLs as value substitutes of the corresponding national brands. As private labels become proliferated, more retailers are introducing premium PLs that oftentimes replace marginal national brands. It is natural to assume that the PL sourced from the excess capacity of the NB manufacturer is identical to the corresponding NB except for the branding and packaging. In this paper, we examine a retailer’s problem of tiered PL sourcing, in which a premium PL is supplied such a NB manufacturer (dual brander), and an economy PL is supplied by a dedicated PL supplier. We decompose the value of a product into three components: the NB’s brand equity, the retailer’s reputation, and the intrinsic quality of the NB. In this distribution channel, the NB’s wholesale and retail prices are determined by the traditional bilateral Nash game. However, the premium PL’s transfer price is determined through a profit-sharing negotiation between the channel members. Based on this game scenario, we build a model of price competition, given the quality, brand equity, and retailer reputation parameters, in order to examine strategic implications of the parameters to the equilibrium prices. In our bilateral pricing game, the NB manufacture and the retailer play a Nash pricing game, augmented by a profit sharing negotiation for the premium PL. In the negotiation process, the retailer’s negotiation power over the NB manufacture is reflected in the ratio of incremental profits from the premium PL. From an equilibrium-negotiation solution, we derive profit implications of each of the value components as well as the negotiation power of the retailer. Among several findings, the most interesting takeaway is that, even if the retailer holds a strong negotiation power, it is optimal for the retailer to leave some chips on the table for the NB manufacturer during the transfer pricing negotiation.

This study aims to gain insights into consumers’ motivations when purchasing imitation of luxury cosmetics goods by applying the functional theory of attitude. Consumers’ desire for imitation luxury cosmetics hinges on their motivations underlying their consumption of luxury cosmetics. In addition, consumers’ perceived risk of purchasing imitation cosmetics and their brand loyalty towards the original luxury products will restrain their purchase intention of imitation cosmetics. Finally, the study examines the effect of products conspicuousness (private/public visible goods) and the effect of imitation types (feature/theme) on consumers’ preferences on concerning imitation consumption. The findings will provide insights for policy makers, brand managers and academics, and better understand imitation in the luxury cosmetics industry.

This study examines how advertising can be used by premium private labels to develop perceived luxuriousness and, in turn, purchase intention. The findings suggest perceived image and quality relative to regular private labels and a leading national brand as well as store-brand image congruity as key factors and support the store-type effect. Introduction Private labels (PLs) are receiving increased attention in line with their significant growth (Schnittka, 2015). Braak, Geyskens, and Dekimpe (2014) pointed out the evolving trend of more PLs offering high quality at a high price in comparison to their low-quality, low-price heritage. Among multiple tiers of PLs, PPLs exclusively aim at a premium tier of the market and try to offer the value comparable to that of top-tier NBs (Jost 2014). Acknowledging differentiated natures of PPLs, this paper analyzes what advertising strategies make consumers perceive a PPL to be luxurious and in turn, increase purchase intention. Cue utilization theory and categorization theory are used as a basis for hypotheses. Our research is an effort to shed light on adequate design of the advertising message for the successful introduction of a PPL. Theoretical Background Premium Private Label and Perceived Luxuriousness For a PPL, being able to offer outstanding value as compared to top-tier NBs is a critical issue (Geyskens, Gielens & Gijsbrechts 2010). To investigate whether a PPL is successfully positioned, we suggest the construct of perceived luxuriousness as a key variable. We define a brand's luxuriousness as its ability to satisfy multifaceted needs of consumers with its products which is not limited to functional needs (Lee, Ko, Kee & Kim, 2015), through five value dimensions (Vigneron & Johnson, 2004). Consequently, we employ the brand luxury index (BLI) to measure perceived luxuriousness (Vigneron & Johnson, 2004). Cue Utilization Theory According to cue utilization theory, when making purchases, consumers use diverse extrinsic and intrinsic cues, and make the assumption that such cues will help them make the most reasonable purchase decision (Richardson, Dick & Jain, 1994). Referring to cues, consumers decide to buy the product only if it is perceived as a better choice than the alternatives in terms of overall value that it conveys. These cues are often displayed and reinforced via advertising (Yi, 1993). Categorization Theory According to categorization theory, when exposed to advertising messages for a new brand, consumers are expected to call up information available in memory that is classified into categories (Carrillat, Harris, & Lafferty, 2010). Punj & Moon (2002) demonstrated that a successful strategy for new brands is to associate itself with a successful existing brand to be included in the consideration set while differentiating itself from other brands. Hypotheses Development Image Similarity Perceived similarity between brands and products has been discussed at various levels and scopes. It has been illustrated that shared physical attributes (Aaker & Keller, 1990) and shared abstract image (Park, Milberg & Lawson, 1991) between product lines moderate the probability of being perceived as similar by consumers. Considering the disparate positions between PPLs and RPLs, we suggested that RPLs are useful as a disparate option that may in turn emphasize the premium position of a PPL (Palmeira & Thomas, 2011). H1a. Image similarity between a PPL and a RPL, as reinforced by advertising, will have a negative effect on the perceived luxuriousness of the PPL. If a PPL can associate itself with the experiential value of a high-positioned NB, it is more likely that the PPL will be perceived as luxurious by signaling comparability (Sayman et al., 2002). H1b. Image similarity between a PPL and a NB, as reinforced by advertising, will have a positive effect on the perceived luxuriousness of the PPL. If the different positions of a RPL and a PPL are not perceived by consumers, consumers might judge the PPL as simply a similar but expensive option and would not be willing to purchase it (Huang & Huddleston, 2009). H2a. Image similarity between a PPL and a RPL, as reinforced by advertising, will have a negative effect on the purchase intention for the PPL. Closer associations between a PPL and a top-tier NB built through advertising lead to enhanced familiarity with the PPL and perceptions of reduced risks (Erdem, Zhao & Valenzuela, 2004). H2b. Image similarity between a PPL and a NB, as reinforced by advertising, will have a positive effect on the purchase intention for the PPL. Quality Superiority Perceived quality is defined by Aaker (1991) as: “the customer’s perception of the overall quality or superiority of a product or service with respect to its intended purpose, relative to alternatives”. Consumers’ abstract beliefs regarding the product’s quality can be deduced from “credence quality attributes” (Ophuis & Trijp, 1995). The quality of products is evaluated relatively, compared with alternatives. Nueno and Quelch, (1998) pointed out that there are a few characteristics shared by premium brands, and excellent quality is one of them. H3a. Quality superiority of a PPL compared to RPL, as reinforced by advertising, will have a positive effect on the perceived luxuriousness of PPL. H3b. Quality superiority of a PPL compared to NB, as reinforced by advertising, will have a positive effect on the perceived luxuriousness of PPL. According to Sethuraman, Tellis, and Briesch (2011), consumer perceptions of quality of a PL are evaluated based on quality differentials and play a dominant role when consumers make purchase decisions. Indeed, the perceived quality differential between a PL and a NB has been found to influence the share of the PL (Erdem et al., 2004). H4a. Quality superiority of a PPL compared to a RPL, as reinforced by advertising, will have a positive effect on the purchase intention of the PPL. H4b. Quality superiority of a PPL compared to a NB, as reinforced by advertising, will have a positive effect on the purchase intention of the PPL. Image Congruity between a Store and a PPL At the individual level, a generalized store image is determined by each consumer’s beliefs about retailer-specific attributes (Lee & Hyman, 2008). If the positive store image can be transferred through a number of positive associations between the store image and a PL, it will help consumers evaluate a newly encountered PL more favorably (Collins-Dodd & Lindley, 2003). As Dubois, Laurent, and Czellar (2001) demonstrated, consistent value shared between a parent brand and an extension will further strengthen the luxurious position. H5a. Image congruity between a store and a PPL will have a positive effect on the perceived luxuriousness of the PPL. Furthermore, with congruity consumers will see a brand which maintains the standards and preserve its essence as authentic and are likely to form positive responses toward a brand (Choi, Ko, Kim & Mattila, 2015). Lee and Hyman (2008) illustrated that the congruity between beliefs about a store and a PL would lead to a relatively favorable attitude toward a PL product. H5b. Image congruity between a store and a PPL will have a positive effect on the purchase intention of the PPL. Perceived Luxuriousness and Purchase Intention Sethuraman et al. (2011) illustrated that both quality and non-quality values matter in purchase decisions of a PL. For a PPL aiming at signaling an outstanding position, representations of added value are critical to form purchase intentions (Fionda & Moore, 2008). Thus: H6. Perceived luxuriousness of a PPL will have a positive effect on the purchase intention of the PPL. Store type Effect Consumers evaluate retailers differently and their subjective evaluation of the retailer is also expected to affect evaluations of products sold in the retailer (Grace and O’cass, 2005; Pappu and Quester 2008). The more upscale image and positioning of department stores are regarded to allow products they sell to be perceived as luxurious through more diverse appeals. In turn, purchase intentions are to be facilitated with ease, relatively. Proposition 1: According to store type, relative perception of luxuriousness of a PPL will be different. Proposition 2: According to store type, relative purchase intention of a PPL will be different. Methods Experiments were conducted among undergraduate-level students (aged 20-29) at a large Korean university, as they have relatively common traits and increasing experience with private labels (Trendmonitor, 2015). A total of 339 self-administered questionnaires were distributed, out of which 324 were used for analysis: 166 for department stores, 158 for hypermarkets. A purchase scenario of a cashmere sweater as well as an advertisement of the PPL sweater with information about each brand’s product (i.e. the material, the manufacturer, the distributor, and the advertisement) was given. For robust results, the experiment was conducted via two media types, online and paper. Analysis and Results Structural Model Testing We used structural equation modeling (AMOS 21) to test the proposed theoretical framework and propositions (see Figure 1). All estimates indicate an acceptable fit. Individual Hypothesis Testing The results indicate that image similarity between a PPL and a RPL negatively influences the perceived luxuriousness of the PPL (supporting H1a), but image similarity between the PPL and a NB positively influences the perceived luxuriousness of the PPL (supporting H1b). Although image similarity between a PPL and a RPL has no direct influence on the purchase intention of the PPL (H2a is rejected), image similarity between the PPL and a NB positively influences the perceived luxuriousness of the PPL (supporting H2b). Quality superiority of the PPL compared to the RPL positively influences both the perceived luxuriousness and purchase intention of the PPL (supporting both H3a and H4a), but quality superiority of the PPL compared to the NB does not have a significant effect (H3b and H4b are rejected). Congruity between the PPL and store is found to influence the perceived luxuriousness of the PPL (supporting H5a) but has no direct influence on the purchase intention (H5b is rejected). Meanwhile, the hypothesized effect of the perceived luxuriousness of PPL on purchase intention is supported (H6). Proposition Testing The data for each store type, department store (n =166) and hypermarket (n=158), was analyzed separately via multi-group analysis to assess store type effects on the modeled relationships. The findings for department stores indicate that the effects of image similarity between a PPL and a RPL on perceived luxuriousness, image similarity between the PPL and a NB on the purchase intention, quality superiority of the PPL compared to the RPL on the perceived luxuriousness as well as the purchase intention, and image congruity between the PPL and the store on the perceived luxuriousness are significant. Meanwhile, the findings for hypermarkets represent that the effects of image similarity between the PPL and NB on perceived luxuriousness and quality superiority of the PPL compared to the RPL on the perceived luxuriousness of the PPL are significant. For both store types, overall perceived luxuriousness turned out to be positively related to purchase intention. Conclusion The findings of this study have implications for a PPL aiming at positioning itself in consumers’ minds as luxurious, vis-à-vis a RPL and a NB. In regard to the perceived brand images, using advertising, efforts to differentiate a PPL from a RPL and to equate a PPL with the top-tier NB appears to be a reasonable strategy. Moreover, using advertising to emphasize superior quality compared to the RPL is likely to be effective whereas to compare it to a NB will not. Also, image congruity between a store and a PPL would allow the PPL to be perceived as luxurious as it aims to be. Furthermore, the results lead to a rationale for disparate strategies between two store types. As a follow-up study, we are planning to examine how direct manipulation of the comparative advertising messages influences consumers’ perceived luxuriousness and purchase intentions of a PPL.

This study investigates what consumption values affect attitude and behavioral intentions toward a premium lunch box at a convenience store using VAB(Value-Attitude-Behavior) model. The main survey was conducted by a research company by means of an online survey in the form of a self-administered questionnaire. The samples were limited to customers who had tried the premium lunch box before. The survey was conducted in October 2016. The collected data were analyzed by using SPSS 21.0 for Windows and AMOS 21.0. A structural equation model(SEM) was used to verify the proposed relationships among the study variables. Three factors representing the value of the premium lunch box were identified: social & functional value, economic value, and epistemic value. The finding showed that these values had a positive effect on attitude toward the premium lunch box and that attitude had a positive effect on behavioral intentions.

Premium private label brands (PPLBs) are receiving increased attention in line with their significant growth. Private label brands (PLBs) have been evolving from offering low quality at a low price to high quality at a higher price. Among multiple tiers of PLB, PPLBs are assumed to be in an exclusive tier and compete with top-tier national brands. In consumers’ minds, PPLBs are perceived and evaluated in reference to alternatives represented by regular private label brands (RPLBs) and top-tier national brands (NBs). Thus, for PPLBs, being able to provide outstanding value that is perceived in relation with competitive alternatives is a critical issue. In addition, related marketing entities such as a store type are assumed to affect consumers’ perceptions and evaluations. Based on cue utilization theory and categorization theory, this research aims to identify key relationships influencing the perceived luxuriousness and eventual purchase intention of PPLB products. This research analyzes what strategies make consumers perceive a PPLB to be luxurious and in turn, increase purchase intention. The empirical study consists of a survey conducted among college students in their 20s in Korea. The data were analyzed to test the theoretical framework using a confirmatory factor analysis and structural equations.

46 2016 Global Marketing Conference at Hong Kong Proceedings: 46-47 (July 2016) http://dx.doi.org/10.15444/GMC2016.01.04.01 WHY DO CONSUMERS BUY PREMIUM PRIVATE LABELS? – SOME QUAL-ITATIVE INSIGHTS Olivier Reimann, University of Vienna, Austria1) Udo Wagner, University of Vienna, Austria2) ABSTRACT Private labels (PL) have developed remarkably well during the last two decades. In many Western European countries they achieved market shares of around 30 percent and more. A phenomenon that recently gained momentum in academia and practice are premium PL (PPL). That are PL positioned as “better and cheaper” or “higher in price and superior in quality” compared to the leading NB. However, with regard to the perceived quality gaps consumers attributed economy and standard PLs vis-à-vis national brands (NB) in the past, it appears contradictory that PPL could become “one of the hottest trends in retail-ing”. To the best of the authors’ knowledge no study published up to now has addressed the following research question: Why do consumers prefer PPL over NB or other PL tiers. The present work tries to provide some insights into this research gap. We conducted two empirical research projects which aim at shedding some light on po-tential drivers of PPL product choice. Both projects are field studies with two leading grocery retail chains in a Central European country as research objects. In this country, the grocery retail market is characterized by a relatively high PL market share (29 percent in 2013) and a high concentration of retailer power: in 2014 the top three retailers cov-ered 85 percent of the overall market. Project I conducted focus group interviews. Partici-pants discussed about economy PL, standard PL and PPL products. Participants debated whether / under which circumstances they would choose one of these PL tiers or a NB. Research project II consisted of semi-structured interviews conducted with consumers in stores. The study revealed major determinants of PPL product choice: (1) quality and price, (2) packaging, (3) origin, and uniqueness, and (4) co-branding. We also gained some insights into the role of psychographics and demographics, brand management and communica-tion as well as on store loyalty. Disadvantageous for retailers, the reasons for PPL prod-uct choice are mainly not PPL brand related. PPL shoppers search for intrinsic or extrin-sic cues and would buy any other brand that offers a similar product. However, the find-ings for co-branding PPL showed that suggestions to apply traditional branding strategies in order to increase (premium) PL success should gain more attention from academia and retailers.

The prices of premium brands of Single Malt Whisky have risen during the last years and the demand as well. The objective of this research is to check if a trading-up phenomenon can be observed within the industry and in which circumstances the clients are willing to pay more for premium brands of Single Malt Scotch Whisky given (1) situation of purchase (for yourself; for the birthday of a good friend; for a nice dinner to share with friends; for a present for your boss; for a party with friends who are non-connoisseurs); (2) distribution channels used to sell those premium brands (duty-free; Specialty Store and Super-market); (3) socio-demographics variable; (4) level of expertise and (5) for specific whisky attributes (among 14). The main results show that a consumer is willing to pay a higher price premium for his boss than for his friends. Attributes used to select whiskies are not the same depending the channels. In a specialty store, the premium factors the industry should develop to charge price premium are the cask number, bottling by independent or for commemorative event and bottles coming from closed distilleries whereas in duty-free, independent bottling, vintage and cask's origin and bottling for a specific country are key attributes. For Supermarket, private label is a way to charge higher price. Level of alcohol should not be too high. Level of expertise is strangely not influencing the willingness-to-pay price premium.

Padded outers (jackets, jumpers or coats) are a popular and “must have” item for cold weather because they provide light weight warmth and good style. This study investigates Korean female’ attitudes and factors on purchase decisions for luxury padding outers by level of involvement. A total of 287 female respondents participated in the survey with data obtained using a random sampling method from on and off line respondents aged20’sto40’sinthe Seoul and Gyeonggi area. The study was based on the Maslow’s Hierarchy of needs and Zaichkowsky’s concept. Respondents were asked to indicate their degree of agreement on a 5 point Likert scaled that measured involvement, attitudes, and decision purchased factors. Factor analysis, cluster analysis, correlation and T test were conducted. A factor analysis on 9 needs/motivation measures about padded outer products indicated two factors of a motivation factor and physiological factor for “expectations to have a more positive outcome”. Involvement related to 10 measures about padded outer products indicated two factors of “personality/desires” and “interest/value”. In addition, two other factors were extracted in attitude measure variables of “positive attitudes” and “negative attitudes” towards premium outers. We realized that “expectations to have a more positive outcome” motivation influenced positive attitudes more than “physiological” motivation about premium padded outers. “Personality” involvement factor correlated highly with “positive” attitude factor towards exclusive padded outers (Pearson r=0.766), while the “interest” involvement factor correlated slightly. We can interpret individuals are very positive towards premium products if someone has expectancy to achieve desirable outcomes and wants to express personality. Clustering from involvement measures based on needs, values and interests were classified into two groups. There was a significant difference in the respondents’ purchase decision factors between two segments based on the levels of involvement (p<0.001). The high product involvement group was brand and country of origin conscious, material conscious, trend sensitive, luxury image seeking, and less padding outer price conscious. The low product involvement group was more color conscious in purchases. The findings imply that different marketing approaches are recommended to target each segment in the outer clothing markets.

이 논문은 상가건물임대차에 있어서 권리금과 관련한 법적 문제를 검토한 것이다. 장래에 어떠한 문제가 발생할 것인지를 현재의 시점에서 정확하게 예측할 수는 없지만, 그것이 사회질서를 규율하는 법 제도라고 한다면 불합리한 결과가 발생되지 않도록 그 위험성을 최소화할 수 있는 방법이 모색되어야 한다. 특히 상가건물임대차 제도는 새롭게 창출된 제도라는 점에서 종래에 발생한 문제점들을 면밀하게 파악한다면, 장래에 정립될 상가임대차 제도는 보다 합리적이고 실질적 정의에 합치될 수 있을 것으로 생각한다. 일반적으로 상가건물 임대차계약의 주된 내용은 임차인의 임차목적물에 대한 사용ᆞ수익권과 임대인의 차임청구권이지만, 그 이외에 권리금도 오랜 기간 동안 임대차계약에 수반되어 관행적으로 수수되어 왔다. 권리금이란 주로 도시지역의 토지 또는 건물의 임대차, 전대차, 임차권의 양도 등에 있어 그 부동산이 가지는 장소적 이익의 대가로서 임차인, 전차인 또는 임차권의 양수인이 임대인, 전대인 또는 임차권의 양도인에게 지급하는 보증금이나 차임 이외의 금전 기타 유가물을 의미한다. 지금까지 권리금에 대한 규제는 법적 근거가 없어서 권리 보호의 사각지대에 놓여 있었다. 이러한 문제를 인식한 정부는 지난 2014년 9월 23일 권리금의 법제화 방안을 발표하였고, 2015년 5월 13일 상가임대차보호법의 일부규정이 개정되기도 하였다. 그런데 법무부가 발표한 권리금 법제화 방안과 최근에 개정된 상가임대차보호법은 몇 가지 측면에서 문제가 있다. 이러한 이유에서 저자는 본고에서 현행 상가임대차 제도와 관련한 법적 쟁점 중에서, 특히 우리나라의 상가임대차건물의 임대차에 있어서 권리금의 지급과 관련한 법적 문제점을 중심으로 몇 가지 논점을 검토하면서 그 개선방향을 제시하였다.

은행의 겸업화가 범세계적인 추세로 등장하고 있는 상황에서 본 논문에서는 겸업은행 (universal banks)에 대해 다음과 같은 이슈를 제기하고 분석해 보았다. 은행이 겸업화전략을 선택할 때에는 어떤 요인이 영향을 미치며, 은행이 겸업화를 선택하면 특정 업무에 전업할 때에 비해 과연 보다 나은 성과를 얻을 수 있는가? 이를 검증하기 위해 토빗(Tobit) 모형을 응용한 연구모형을 세우고, 은행이 겸업화전략과 전업화전략을 자유롭게 선택할 수 있는 금융시스템을 가진 독일, 프랑스, 이태리, 네덜란드, 스위스등 유럽 5개국을 연구대상으로 선정하였다. 그리고, 이들 국가의 상업은행, 저축은행, 협동은행의 1990년에서 1995년사이의 개별은행자료를 이용하여 실증분석을 행하였다. 분석결과 우선, 은행이 겸업화냐 전업화냐 하는 전략을 선택하는데는 주로 은행의 내부 자원이 큰 영향을 미침을 발견하였다. 또한 은행의 내부자원은 은행의 전략선택 뿐 아니라 겸업은행과 전업은행의 성과창출구조에도 서로 다른 영향을 미치고 있었다. 이에 따라 본 논문에서는 겸업은행과 전업은행의 성과를 비교하는데 있어 단순한 성과지표의 비교 대신, 양자의 내부자원과 전략을 고려하여 재구성한 기대성과를 비교하였다. 그 결과 은행이 겸업화를 추구하는 것이 특정 업무에 전업하는 것에 비해 평균적으로 보다 높은 기대성과를 가지게 된다는 결과를 얻었다. 그리고, 이는 은행의 규모, 유형, 국적에 관계없이 동일함을 발견하였다.

The purpose of this paper is to examine a financial distress premium in the emerging market. A risk-return trade-off of negative book equity (NBE) and distress firms is empirically analyzed using data from the Stock Exchange of Thailand. This research employs Ohlson’s (1980) bankruptcy model as a measurement of distress risk. The results indicate that distress firms outperform solvent firms in the Thai market and deny distress anomaly often found in the developed market. Fama-Frech (1993) three-factor model and Carhart (1997) four-factor model verify the existence of a distress premium in the Thai capital market. Risk-seeking investors demand greater compensation for bearing risks of distress firms’ going concern. This paper provides fresh evidence that default risk is a significant explanatory factor in pricing stocks in the emerging market. Also, this study sheds light on the role of NBE firms in asset pricing. Most studies eliminate NBE firms from their sample. However, NBE firms yield superior average cross-sectional returns, albeit with higher volatility. Investors are rewarded with distress risks associated with NBE firms. The outperformance of NBE firms is statistically significant when compared to the overall market. The NBE premium disappears when factoring size, value, and momentum in time-series analysis.

Purpose - This research examined the effect of hedonic and utilitarian eating-out motivations on the evaluation of restaurant selection attributes in a fashion premium outlet. Additionally, the influence of experimental and functional attributes on customers' preference for hedonic eating-out motives and utilitarian eating-out motives, and variation of moderating effects through the gender was examined. Research design, data, and methodology – A survey was conducted to verify the established research hypothesis. The questionnaire items for the research were modified to fit the situation of the present study. In order to elaborate the questionnaire, the literature of the previous researchers was reviewed and supplemented. The survey conducted 207 online questionnaires for consumers who have visited domestic fashion premium outlets from July 4, 2017 to July 27, 2017. A total of 207 questionnaires were collected, and a total of 206 questionnaires were used for the empirical analysis after excluding one inappropriate response. In order to verify the reliability and validity of the measured variables, exploratory factor analysis and reliability analysis were performed using SPSS 20.0. Next, the structural equation model (SEM) statistical method was used to test the hypotheses of the study. Results - Hedonic motivation had more influence on experimental attribute importance than the functional attribute importance of the restaurant. However, this result was different depending on the gender. The effects of hedonic motives on empirical attributes were more influenced by female groups, and when influencing functional attributes, male groups were more influenced. However, it was statistically significant (p <0.05) in the female group only when the hedonic eating out motives influenced empirical attributes. Conclusions - This study analyzed the effect of eating-out motivation on the restaurant preference attributes and suggested practical implications. First, customers with hedonic eating-out motivations were evaluating experiential attributes to be more important than functional attributes. Second, for customers who are motivated to use practical eating-out habits, companies should provide services that meet practical and economic needs. In particular, female customers visiting restaurants need differentiated marketing strategies that make them feel new experiences rather than practical ones. In addition, it is necessary to study more complex and integrated studies which will influence restaurant selection attributes of premium outlets customers by adding various eating out motives and selection attributes.

중국의 프리미엄 생수시장은 "웰빙", 프리미엄, 특별함에 대한 관심이 높아지면서 경기불황에도 불구하고 빠른 속도로 성장하고 있다. 이에 본 연구는 글로벌 프리미엄 생수 브랜드를 지속적으로 구매하는 호의적인 태도인 소비동기요인기초연구로서 중국시장 소비자를 대상으로 소비동기요인을 정서적 차원 문항과 시각적 차원의 실증분석 문항으로 구성하여 생수 브랜드에 대한 호의적인 동기 요인에 대한 선호도를 분석하였다. 분석 결과, 소비동기요인의 정서적 차원 문항인 가격은 7~9$가 적당한 것으로, 구입 장소는 프리미엄 생수이기에 호텔․ 레스토랑에서 구입하는 경우가 많은 것으로, 구입 시 고려사항에 대해서는 브랜드, 가격, 물의 성분, 디자인 순으로 나타났다. 시각적 차원의 실증분석 문항에 대해서는 용기 형태 디자인이 모던하고, 심플한 형태, 색상은 용기 형태와 차별화되는 무채색의 선호도가 높게 나타났으며, 라벨은 역사와 전통성이 있는 형태와 단순한 문자 형태가 선호가 높은 것으로 나타났다.

기업은 장기적인 비전을 마련하기 위하여, 소비자에게 기업의 존재 이유를 명확하게 전달하고자 한다. 이러한 목적으로 만 들어지는 기업의 경영이념 체계화는 내부적으로 존재 이유를 명확하게 하고, 체계적인 경영 활동과 외부에 적극적인 홍보 를 위하여 절실하다. 닛산자동차는 국내 시장에서 벗어나 세계 시장에 진출하는 과정에서, 회사 창립부터 만들어진 경영이념 체계에서‘고객 만 족 제일주의’ 중심에 새로운 경영이념 체계로 변화하였다. 일반적으로 대기업이 경영이념 체계를 변화시키는 사례는 매우 특별하다. 닛산자동차의 경영이념 체계의 변화는 필요성 분석과 새로운 제품철학을 중심으로 체계화하는 과정을 논의하는 것은 매우 의미가 있을 것이다. 닛산자동차 제품철학의 핵심인 ‘사람과 자동차 문화로 주, 미, 쾌 디자인전략’을 연구하고, 넓어지는 디자이너의 활동 영역과 역할의 확대를 논의한다. 세계화를 위한 차별화된 브랜드 ‘인피니티’의 디자인 전략을 논 의한다. 현대자동차 브랜드전략에서 고객의 자동차 문화를 위한 품질과 서비스, 그리고 관련된 다양한 활동을 논의한다. 특 히, 일본시장에서 ‘진화에서 진가로’ 전략 실패 요인과 북미시장 진출에서 고급화 브랜드 전략 ‘The Dynamic Luxury'를 논의한다. 함께 현대자동차의 고급화 브랜드 전략에 관한 현대까지의 고민을 논의한다. 또한, 닛산자동차의 인피니티와 현 대자동차의 제너시스 디자인경영 전략 분석을 위한 사토야마 야스히코의 기업 경영에 대한 일관성 있는 연역적 체계의 필 요성과 구체화를 위하여 조은환의 ‘융합형 디자인 전략화를 위한 디자인경영 성공 요인’표로 경영이념과 브랜드전략과 소 비자 의견 중심에 마케팅. 기술전략, 디자인경영 요인을 세부, 실행, 실천 요인으로 정리하였다. 이러한 과정을 통한 소비자 의견 중심에 디자인경영의 중요성과 현대자동차의 고급화 브랜드 개발의 보완을 위한 디자인경 영 요소를 제시하고자 한다.

최근 기상이변에 의한 자연재해의 발생빈도가 증가하고 있으며 피해규모 또한 대형화·광역화되고 있다. 최근 10년간 자연재해 원인별 피해규모는 태풍(57.1%), 호우(31.3%), 대설(11.5%)이 차지하고 있어 이에 대한 대책이 시급하다. 우리나라는 자연재해에 의한 피해에 대응하기 위해 풍수해보험을 시행하고 있다. 풍수해보험은 소방방재청이 주관하며 민간보험사가 운영하는 정책보험으로 보험계약자가 부담해야 하는 보험료의 일부를 국가 및 지방자치단체에서 보조함으로써 국민이 저렴한 보험료로 예기치 못한 풍수해에 대해 능동적으로 대처할 수 있도록 하는 선진국형 재난관리제도이다. 풍수해보험의 대상 재해는 자연재해대책법 제2조 제3항에서 정의한 태풍, 홍수, 호우, 강풍, 풍랑, 해일, 대설이며, 크게 홍수, 강풍, 대설로 분류할 수 있다. 홍수에는 태풍, 호우, 홍수, 해일이 포함되고, 강풍에는 태풍, 강풍, 풍랑이 포함되며, 이렇게 분류된 홍수, 강풍, 대설은 각각 위험도분석을 통해 풍수해보험관리지도에 반영된다. 본 연구에서는 이러한 풍수해보험관리지도의 보험요율 산정시 필요한 목적물별 피해율을 어떻게 분석하고, 이를 위한 보험목적물 DB 구축과 GIS 분석하는 방법에 대하여 연구하였다. 본 연구에서 구축한 풍수해 보험의 보험목적물은 단독주택, 공동주택, 온실을 대상으로 하였으며 우리나라 전역의 광범위한 데이터를 어떻게 구축하고, 이 데이터를 실제 시스템으로 어떻게 운영할 것인지에 대하여 제시하였다.