This study aimed to identify sub-dimensions of the authenticity and fictionality of a brand story and analyze the effects of authenticity and fictionality on customer-based brand equity. Data were obtained from a group of 213 males and females in their 20s and 30s living in Korea using an online survey institute. Results showed that the authenticity and fictionality of a brand story are composed of reality, excitement, exaggeration, fictional symbolism, influence, sincerity, relativeness, mysteriousness, and unreality. Of these, sincerity, excitement, reality, influence, and mysteriousness had significant effects on brand imagery; sincerity particularly exerted a relatively more substantial influence on brand imagery. Also, influence, mysteriousness, excitement, and relativeness impacted performance positively, and exaggeration impacted performance negatively. This indicated that a well-constructed brand story with authenticity and fictionality had a positive impact on the brand image. Excitement, mysteriousness, reality, relativeness, sincerity, and influence of a brand story had significant effects on brand judgement. In contrast, only excitement and influence positively impacted brand feelings, and unreality had a negative impact on feelings. The exciting and influential brand story impacted brand attitude. Also, brand image and attitude positively impacted sharing and purchase intention, while brand performance did not affect recommendation intention. These findings contribute to identifying a brand story’s attributes, authenticity, and fictionality and provide insights for marketers on creating brand stories to increase brand image and attitude and to build customer-based brand equity.

Customer engagement (CE) has commonly defined as a psychological state or process that leads to customer loyalty (Brodie, Hollebeek, Juric, & Ilic, 2011). CE research has received increasing attention due to its critical role in luring favorable customer experience and outcomes such as brand trust, affection, and future purchase intention (Harrigan, Evers, Miles, & Daly, 2017; So, King, Sparks, & Wang, 2016). Despite scholars’ continuous efforts in advancing the CE field of study, several limitations remain unaddressed. First, empirical research focuses primarily on antecedents and consequences of CE that are derived from individual dispositions (Harrigan, et al., 2017); thus, customer actual behavioral outcomes of CE are generally unexplored. Second, most, if not all, empirical research investigates the nomological network of CE based on individual-level factors (Khan, Rahman, & Fatma, 2016; So, King, & Sparks, 2014). Such an individual-level approach is important as it builds the necessary foundation of the CE domain of study. Yet, the roles of organizational strategic position are largely ignored, while organizational-level situational factors are rarely considered. This research aims to bridge the aforementioned research gaps by constructing both individual-level dispositions and organizational-level situational factors into an integrated framework. In particular, this research seeks to explore the roles of two organizational strategic initiatives – service environment and brand equity – on customer engagement and its impact on customer behaviors.

Mobile shopping motivations affects the interaction between mobile shoppers and mobile retailers. This study examines how mobile shopping motivations affect value co-creation, customer equity drivers, and customer lifetime value through a structural equation model. Mobile shopping motivations as mobile shoppers’ needs are time saving, right purchase and money saving. To meet mobile shoppers’ needs, mobile shoppers, mobile retailers, and other customers are willing to collaborate. Value co-creation that Yi and Gong (2013) scaled includes customer participation behaviour such as information seeking, information sharing, responsible behaviour, and personal interaction, and customer citizenship behaviour such as feedback, helping, advocacy, and tolerance. The results indicate that mobile shopping motivations are significant determinants of value co-creation behaviours, implying that mobile shopping motivations are driving factors of value co-creation. Customer participation behaviour has significant effects on value equity and brand equity while customer citizenship behaviour shows positive effects on brand equity and relationship. As for customer lifetime value, relationship equity has significant positive effect, while value and brand equity had no significant influence. This study also shows that mobile shopping motivations affect both value equity and relationship equity of mobile shopping apps by improving information sharing, responsible behaviour, and personal interaction, feedback, helping, and advocacy. Value equity and relationship equity also have significant effects on customer lifetime value. The authors discuss the theoretical and managerial implications for their findings.

Customer management based on Customer lifetime value has emerged as the most effective way of doing business due to the ability to foster profitable CRM (Verhoef & Lemon, 2013; Villanueva & Hanssens, 2007). Although there has been much conceptual evidence of the positive link between customer equity and firm’s performance(Blattberg, Malthouse, and Neslin 2009), comparison of relationships between two competing firms based on customer equity and firm profitability is limited. Therefore, this research examines the role of customer equity on the firm profitability by comparing the company type such as leader and follower in customer equity setting. The result shows that the effect of newly acquired Customer equity of the second tier company is stronger than that of the top tier company while the effect of retained customer equity of the top company is stronger than that of the second tier company. Overall, the results provide strategic implications for firms to use a different customer equity strategy in a competitive market structure.

The relationship of parasocial Interaction is one of the important contents of marketing research in recent years. With the rise of internet economy in the world, more and more enterprises' marketing practices are involved in the marketing process of SNS based on social networks. The interaction between medium and audiences has broken through the non-face-to-face one-way communication mode and forms a twoway communication mode of the relationship of parasocial Interaction in the SNS environment. Based on the signaling theory and the social exchange theory, this dissertation clarifies the driving factors and mechanism between Fashion web celebrity and attributes and relationship of parasocial interaction through the literature review, In the South China, Middle and North China, there were N audiences who used SNS experience as survey target to conduct a survey. And analyzed these data with SEM software. The research found that between Fashion web Fashion web celebrity and attributes and SNS participation motivation show a positive correlation with relationship of parasocial interaction, and there is a positive correlation between relationship of parasocial interaction and identification, relationship of parasocial interaction and identification have positive correlation with customer equity. E-WOM on customer asset-driven process has a clear intermediary role in the relationship of parasocial Interaction. This not only enriches and develops the existing research results of relationship of parasocial Interaction, but also provides guidance for enterprises to manage relationship of parasocial interactions. In addition, it also provides valuable theoretical guidance for enterprises to promote SNS marketing management practices.

Since 2008 to 2014 the operating margins of Chinese traditional retail industry went a sustained downward. Instead, the operating margins of online-store have been the sudden explosion. In this case which online-store sale the same products with traditional market, my research try to find out how to improve the state of traditional market since 92.5% practitioners of retail industry are doing their business in traditional market. Customer equity can estimate customer lifetime value for the company (Rust et al, 2004). The firm can make proper marketing strategy with customer equity. Customer equity can both satisfy consumers and make a profit for the company (Lemon et al., 2001).So we built a model to connect service quality and customer equity to study how to prove the competitive power of traditional market. In this paper we used customer satisfaction and brand attitude as mediating variables since Store brands have become an important contributor to retail differentiation and basis for building store loyalty (Dodd and Lindley, 2003) and in retail market customer equity varies with customer satisfaction( Pappu and Quester 2006). Considering that Chinese economic growth rate was slowing down, traditional market is being a priority for Chinese Government to relieve severe export pressure and employment pressure. In this research we would like to study the relationships among service quality, customer satisfaction and brand attitude and how they influence customer equity in traditional markets. For this purpose we built a model which composed by service quality, satisfaction brand attitude and customer equity and tested it. The survey was collected from traditional markets in China and South Korea and the data was analyzed by AMOS and SPSS.

The main objective of this study is to compare the difference of consumers’ perception on brand context. The focal factors are brand equity, brand personality and perceived customer value. This would enhance the knowledge of cross-cultural brand equity and brand personality, especially in Fast-Fashion industry. In addition, the findings of this study show that, for a brand in different marketing context, how customers perceive the brand and contribute it to their value. The sample size of 800 consumers is applied (400 Japanese consumers and 400 Thai consumers. The focal brand is randomly selected by the researcher. The Structural Equation Modelling with multiple group analysis would be conducted for examining the differences of consumer perception on a Fast-Fashion brand. All major model fits indicator would be evaluated. Finally, the results of the study would be discussed.

Recent research has shown that many companies in the fashion industry are increasingly weaving close relationships with the art world, to appropriate art values and meanings to be associated with their own products and brands (Hagdtvedt & Patrick, 2008a; 2008b). Businesses related to the fashion luxury sector have been especially prone to using such strategies to transform their products into true artworks to address the issue of commodification resulting from high production volumes (Dion and Arnoult, 2011; Riot, Chameret & Rigaud, 2013). Over the past two decades, the luxury market has undergone huge structural changes through mergers and acquisitions that have transformed an industry made up of small, family businesses into major financial conglomerates and brand owners (Roux & Floch, 1996; Crane 2012). Secondly, globalization and openness to new fast-growing markets such as Asia, have led these luxury conglomerates to increase sales volumes, failing in one of the basic characteristics of such goods: rarity. But if the real rarity of luxury products is a promise that companies can no longer guarantee their own consumers, the elitism of these products can be ensured through an artificial rarity. Jean-Noël Kapferer used the neologism artification recently introduced by French sociologists Nathalie Heinich and Roberta Shapiro and applied it to the analysis of luxury goods (Kapferer, 2012; 2014; Heinich and Shapiro, 2012; Shapiro and Heinich, 2012). He stressed that a strategy based on art implemented by luxury companies is useful mainly to support the perception of rarity by the final consumer. Artification is based on the notion that art –related objects or persons are associated with positive values. Enhancing a corporate image in the consumer’s mind means building positive ties to the brand that will initiate a form of benevolence towards the brand, providing the legitimization of corporate actions and, in some cases, resulting in the purchase of goods and services produced and distributed by the company (Keller, 1993; Aaker, 1996; Aaker & Joachimsthaler, 2000; Keller, 2003). We decided to analyse the effect of Artification on brand value by focusing on the four dimensions of Awareness, Image, Quality and Loyalty by using the same CbBE ( Customer-based Brand Equity) structure previous authors tested on country of origin effect on consumers, based on the main hypotheses further explained (Pappu, Quester & Cooksey, 2006). The first hypothesis relates to the dimension of Awareness and aims to test the level of brand recognition in final consumers when the logo is modified by an artist. • H1 – Consumers’ awareness remains strong when the brand is ‘artified’. We analyze then the Image, as the second dimension of CbBE. Due to the complexity of this dimension, we posited two hypotheses connected to it: • H2a – Consumers’ free associations to the brand are connected to the artworld when the brand is ‘artified’ (e.g. consumers indicate words as art, contemporary art or the name of the artist). • H2b – Consumers’ evaluation of the brand image points to stronger positive associations when the brand is ‘artified’ The last two hypotheses we mention are connected to the dimensions of Quality and Loyalty: • H3 – Consumers’ evaluation of Quality increases when the brand is ‘artified’.  H4 – Consumers’ Loyalty to the brand increases when the brand is ‘artified’. • The analysis was conducted through a between-subjects randomized experiment and manipulated art presence (with art versus without art). Starting from the same panel, two groups were created: one including the treatment (visual arts) and one including no treatment at all. Furthermore, we limited ourselves in this experiment to images of products and pattern created by Louis Vuitton that are actually on the market, associating them randomly to the research units in order to obtain two statistically consistent groups subjected to the different treatment (with art or without art)4. The two groups were labelled ‘artified’ group and control group, the first grouping the respondents to the questionnaire containing images of Louis Vuitton Logo, pattern and product modified by art collaboration with Yayoi Kusama; and the second grouping the respondents to the questionnaire containing images of Louis Vuitton Logo, pattern and product in its standard design. The questionnaire was distributed between the months of May and June 2015 via Qualtrics survey software. It was divided into four distinct blocks: the first concerned the presentation of the survey, the declaration of authorization signed by the participants and the demographic information; the second and the third blocks of questions were identical, with the same series of questions but based on different images used. There were 880 respondents, 825 of whom correctly filled the questionnaire we submitted to them. The control group was made of 413 respondents, 73.13 % of whom were female and 26.87 % male. The ‘artified’ group was made of 71.60 % female and 28.40 % male. We analyzed the four dimensions of Awareness, Image, Quality and Loyalty individually and in a comparative manner between the control and ‘artified’ groups. In the CbBE model, dimensions are analyzed individually since Awareness and brand Image measures are not comparable because they are collected through different measure methods, respectively through multiple choice and open-ended questions. Such dimensions as Image, Quality and Loyalty which were raised through Likert scales were then subjected to mono multivariate statistical analysis. The main results are shown in table 1. By reading the results for CbBE, Hypothesis H1 [Consumers’ awareness remain strong when the brand is ‘artified’] has been confirmed. The aided brand awareness shows no important differences between the two groups, so visual artists may modify logos or the appearance of luxury products without the fear of compromising brand awareness in the final consumers. Hypothesis H2a [Consumers’ free associations to the brand are connected to the arts when the brand is ‘artified’ (e.g. the word art, contemporary art or the name of the artist)] was not confirmed. Hypothesis H2b was partially confirmed as Generic Associations and Brand Personality were impacted by the use of the visual arts, while Organizational Associations were not. Brand loyalty and Perceived Quality were not impacted by the Visual Arts either, so Hypothesis H3 and H4 were not confirmed. As a main result for CbBE analysis, the Visual Arts have an impact on Customer-based Brand Equity, limited to Brand Image dimensions. The fact that Brand Image is one of the most complex dimensions of brand value opens the way to the development of future analysis and research in the visual arts as external source for brand equity, especially for Brand Personality. The main results of our research show that an artification effect is visible especially at the level of brand image and brand personality, two complex and valuable components of Brand Value from a consumer perspective. This opens to further in-depth analysis of these two components for future research. Large luxury groups (such as Cartier and Prada) have long used an art-based strategy to increase the value of their products, avoiding the risk of a loss of prestige perceived by the final consumer who would no longer recognize the exclusivity of a product that seems to be increasingly more industrial than handmade. Art can therefore contribute to alter and rework the image and market position of a specific brand or an entire product line, ensuring the transition from an ordinary image to a prestigious one, or strengthening the existing prestigious perception (Hetsroni & Tukachinsky, 2005; Lee et Al., 2015). We believe that a strategy based on art implemented by luxury companies is beneficial mainly to support the perception of rarity by the final consumer. Luxury goods would have to be unique or at least not produced in too high volumes precisely because of their craftsmanship and the care with which they are made. Rarity is not compatible with the increase in sales volumes required by the financial holdings that own the same luxury brands (Roux and Lipovetsky, 2003; Kapferer, 2012; 2014; 2015). The artification process we researched would have exactly the dual purpose of improving the brand image of companies that apply it, while increasing the perception of luxury in end consumers. What is more, we believe that the luxury brands from the industry sector that belong to large financial conglomerates now have the strength to simultaneously apply all the components in the artification process, by sustaining activities of sponsorship, philanthropy or generic collaboration with artists. The fact that luxury products are an integral part of the world of visual arts combined with the fact luxury brands have now the strong support base of large financial conglomerates can ensure the right economic and cultural support needed for the application of such a strategy. In the case of fashion companies, we believe artification is a process in itinere. In our experiment free associations to the brand show that only 2 consumers out of 880 remembered or knew the name of the artist (Yayoi Kusama) and 10 people indicated the substantive ‘art’ or ‘contemporary arts’ as free associations in the ‘artified group’ (only 2 in the control group). This shows that luxury brands ‘art-based strategy cannot only concentrate on temporary collaborations with artists. Luxury brands as Louis Vuitton must act as art institutions able to display arts collections to the widest public and bestow art status and global recognition to collaborating artists (Masè and Cedrola, 2017). This strategy relies on LV ability to raise consumers’ awareness of the arts. While the art-oriented public recognizes artistic collaborations, the larger public does not yet is still very much aware of new designs. Novelty is equally perceived by both, but is partially decoded by one category of consumers.

The marketing scholars and practitioners start to consider a new concept, which pay attention to the government policies and company methods would cause a deep influence to develop a sustainable marketing. Because of the customer equity take a more and more importance place in consumer research, companies have become aware of the importance of sustainability, but customers may not realize the significance of this factor. When companies cannot obtain the feedback from the customers, they can not meet the needs as well. Nevertheless, researchers have attempted to determine whether sustainable marketing customer equity, both in positive and negative ways. Using algorithms of configurations of antecedent condition s to refine the shortcomings of symmetric variable hypotheses (McClelland, 1998; Woodside, 2015). Sustainable marketing includes environmental, economic, and social dimensions, in addition to the ethical management dimensions that guide sustainable marketing strategies through CSR (Lii et al., 2013).The environmental dimension requires to build a eco-friendly image, the economic dimension requires to achieve short- and long-term economic goals(bansal 2005); The social dimension requires that companies enhance social and human wellbeing (Kim et al, 2015; Sun et al., 2016). When marketing research has turned to customer lifetime value (CLV) (Rust et al.,2004), they find the future profit is value equity, brand equity, and relation equity has been accepted by most researchers as major drivers. This study bases on models of which factors can influence value of customers and which are not. Structural equation modeling (SEM) has been used to show that sustainable marketing has positive effects on customer equity drivers (Sun, Garrett, & Kim, 2016). However, it has shortage in most empirical behavioral science and business research, in order to lessen influence of the method limitation; a subset of qualitative comparative analysis called faQCA is applied to study. This study make a general conclusion that in the cross-culture, customers can not accept companies lose anyone dimension, even though they perform at normal level in others. Nevertheless if a company achieve a high goal in one dimension, it is also can be admitted by consumers. This research adapts two different countries as the sample to define their value and motivations. And the Adidas as the sample brand to be used in the study. Using the fuzzyset Qualitative Comparative Analysis (fsQCA) attempts to find a new point to explain configural antecedents, to verify the finding and to overcome the shortages. The result of this study is aimed to find the way to narrow the gap between companies, customers and sustainable concepts.

목적: 본 연구는 소비자가 인식하는 안경원의 브랜드 자산, 외부환경, 내부환경이 고객만족, 신뢰 및 재방 문 의도에 미치는 영향을 구조방정식을 이용하여 실증해 보고자 하였다. 방법: 서울, 경기, 충남지역에 거주하는 안경원 이용 경험이 있는 성인 420명을 대상으로 설문을 실시하 였고, 불성실히 응답한 9부를 제외한 411부가 분석에 사용되었다. 신뢰성 분석과 확인적 요인 분석 및 구조 방정식 모델을 이용하여 가설을 검증하였다. 결과: 브랜드 자산이 외부환경과 내부환경 변수에 유의한 영향을 미쳤으며, 브랜드 자산, 내부환경 등 외 생변수가 매개변수인 고객만족을 통해 신뢰에 간접적으로 유의한 영향을 미치고, 다시 고객만족과 신뢰를 통해 재방문에 미치는 영향이 모두 유의한 것으로 나타났다. 특히 외부환경은 고객만족과 신뢰 모두에서 유 의한 영향을 미치지 못했으나, 브랜드 자산과 내부환경의 경우에서는 재방문에 직접적으로 유의한 영향을 미치고 있었으며, 고객만족과 신뢰를 통해 간접적으로도 유의하게 영향을 미침을 알 수 있었다. 결론: 안경원은 기타 서비스직종과 달리 내부환경 중에서도 안경사특성이 큰 비중을 차지하고 있는 특수 성을 가지고 있다. 본 연구를 통해 브랜드 자산이 내·외부 환경에 유의한 영향을 미쳤으며, 이 중 내부환경 즉, 상품, 가격 그리고 안경사 특성이 고객만족으로 이어져 신뢰를 거쳐 재방문에 이르는 것을 확인하였다. 이를 통해 브랜드 자산을 높이기 위한 노력과 함께 내부 환경 및 고객과의 신뢰 향상에 대한 중요성을 인식 하고 이에 대한 관리에 더욱 노력을 기울어야 할 것으로 보인다.

Firms acquire customers using myriad forms of marketing media (Neslin & Shankar 2009), and different media strategies yield different results to the firms. Therefore, allocating media strategy given a firm’s spending raises important questions for managers. This is especially the case since the media landscape has changed dramatically, with new media channels incorporating online, mobile, and social media now being considered the mainstream. It is crucial to understand how each form of media influences consumers and how it operates alongside traditional media. Based on Stephen and Galak (2012), marketers distinguish earned media from paid media. Earned media is defined as media activity that a company does not directly generate, such as press mentions on the internet and online community posts in consumer-generated social media. On the other hand, paid media refers to the media activity which a company generates (for example, television, radio, print, and direct mail). It is common for firms to consider using earned media and paid media at the same time when developing marketing communication strategies. Despite the coexistence of paid and earned media channels, previous empirical findings focus either on paid media or earned media and suggest that these individually will increase a firm’s marketing outcomes. However, there is a lack of research that examines the question of whether the use of paid media and earned media at the same time is synergistic. The effects of a cross media synergy only focuses on the resource allocation within paid media (for example, TV–Radio (Edell & Keller 1989), TV–Magazine (Confer & McGlathery 1991), TV–Print (Dijkstra, Buijtels, & Van Raaij 2005), and TV, Radio, Print and Outdoor (Briggs, Krishnan, & Sheeran 2003)). Thus, by considering paid media and earned media concurrently, this study investigates whether the synergies between paid and earned media have a stronger effect on a firm’s long term profitability than the isolated effects of TV or word of mouth (WOM) alone. In addition, the research on earned media has focused on short-term outcomes such as customer actions (for example, website sign-ups) and sales growth, sales rank, cross-product sales, and ratings (Trusov, Bucklin, & Pauwels 2009; Li & Hitt 2008; Moe & Trusov 2011). Moreover, in the limited research on the relationship between earned media and long-term outcomes, the outcomes are restricted to those related to soft metrics of communication effectiveness (for example, attitude and brand awareness). Therefore, we use customer equity, which is regarded as a forward looking firm outcome variable, thereby enabling marketers to monitor and measure the long-term financial impact of marketing spending (Kumar & Shah 2015). Moreover, cross-media synergy can be accurately measured by customer equity, which incorporates both customer acquisition and retention. Based on Villanueva, Yoo, and Hassens (2008), customers acquired through paid media focus more on trials, whereas customers acquired through earned media provide the firm with more repeats. In other words, paid media plays a key role in the acquisition of customers, while, on the other hand, earned media increase the retention of customers. Thus, it is appropriate to measure the cross-media synergy with the customer equity (long term profitability) that can capture the customer acquisition and retention simultaneously. Regarding the long term impact of the firm’s media strategy, previous research has used the economic impact of traditional marketing channel (for example, television, radio, magazine or newspaper, advertisement, e-mail links, and direct mail) versus that of WOM (for example, links from Web sites, magazine, or newspaper articles, referrals from friends or colleagues, referrals from professional organizations or associations, and referrals from search engines) on customer equity. Traditional marketing had a stronger effect than WOM in the short term, while WOM is a quiet, gradual-impact, long lasting driver (Villanueva, Yoo, & Hassens 2008). This result can be attributed to the different characteristics of each media channel. Although earned media, including WOM, is not entirely controlled by the firm, earned media may be more likely to last longer for various reasons. One of the reasons for this phenomenon is that earned media has greater credibility than conventional marketing activities that are implemented by the firms, and is therefore more persuasive than conventional advertising (Brown & Reingen 1987, Villanueva, Yoo, & Hassens 2008). In other words, considering the impact of each type of media in itself, earned media is more effective in increasing long-term profitability. However, the interaction effect of earned and paid media has not been empirically tested yet. Thus, it is conceivable that a cross-media synergy (incorporating the implementation of earned media and paid media at the same time) will last longer than the implementation of each isolated media. As Armelini and Villanueva (2010) pointed out, earned media and paid media have complementary effects. For example, offline advertising increases website visitation by influencing consumer awareness, while online advertising directly leads to website traffic (Ilfeld & Winer 2002). The consumer buying process involves distinct stages such as awareness, consideration, and purchase (Lavidge & Stener 2000) and each media influences customer buying behavior in a different way. Hence, it enhances the effectiveness in terms of long-term profitability to utilize the cross-media effect properly. For example, in the car industry, 64 % new car buyers become aware of the features and benefits of a car by obtaining information online, even though they purchase their cars from an offline dealership (J.D. Power and Associates 2004). This finding implies that a firm’s implementation of both paid and earned media properly will maximize the customers’ arousal of the target brands. Furthermore, converging paid media and earned media is expected to proliferate the growth of a firm’s profitability, such as sales, revenue, and customer’s equity, at an exponential rate. For example, the effects of TV advertising execution can be enhanced by press mentions that a company does not directly generate; this is because press mentions support the credence of TV advertising. Inversely, since paid media activities reach the audience relatively more than WOM (due to the high audience penetration share), the online share of press mention can proliferate rapidly with the execution of paid media activities. Therefore, the interaction between earned media and paid media has a greater effect on customer equity than isolated media implementation. The impact of a media synergy has more positive effect and last longer than isolated media implementation (and our model is displayed in Fig. 1). We collect data on marketing efforts, word-of-mouth circumstance, and performance of a telecommunication company. Based on customer equity models and quarterly marketing and performance data, we first estimate the lifetime value of the newly acquired and existing customers. Thereafter, we determine the customer equity of the company over each period. We develop and employ a time-series model for examining the relationship between cross media efforts (paid media vs. earned media) and the estimated firm’s customer equity. Finally, we examine the synergistic effect of cross media on the firm’s long-term profitability.

One of the top tourist destinations in Korea during 2014 was Dongdaemun market, which is a representative traditional market that provides reasonably priced, fashionable products. Already constituting 43.1% of Korea’s foreign tourists, the number of Chinese tourists is expected to reach 14.88 million by 2020 at an average annual growth rate of 19.8%. The most important way to improve customer equity is by understanding a store’s attributes, so this study aims to investigate the effects of Dongdaemun fashion market’s store attributes on customer equity. A survey was conducted among Chinese tourists and structural equation modeling were used to test the hypotheses. The main findings of this study are: Store attributes appear to have an impact on all of the three drivers of customer equity. Value equity has a positive impact on the customer lifetime value (CLV). Also, brand equity and relationship equity were identified as having positive impacts on revisiting intention, regardless of the type of shopping mall. Based on these findings, we discuss implications for developing the customer equity of Dongdaemun’s traditional markets.

The Chinese ecosystem (especially in traditional markets) has been completely subverted by on-line stores such as Taobao and JingDong after 2010. This research is to understand how to improve traditional markets since 92.5% practitioners in the retail industry conduct business in traditional markets. By the mean time Korean traditional markets attract more customers. In this research the multi-group analysis is used to analyze the difference between Chines customers and Korean customers upon customer equity in traditional markets. The research objectives are: First, to understand the relationships among service quality, customer equity drivers and customer satisfaction in Chinese and Korean traditional markets; Second, find out how to improve the three drivers of customer equity through these variables mentioned above in traditional markets. In this study the relationships among service quality, the drivers of customer equity, customer satisfaction and customer lifetime value were studied based on the analysis of the data which were collected in Chinese and Korean traditional markets.

World Advertising Research Center forecasts that internet advertising will overtake on TV advertising in 2016. The internet will become the largest advertising platform. The form of advertising is continually changing as time changes and technological progress, but the essence of advertising which widely inform information needs have never changed. With declining of advertising credibility, more and more young people prefer to get product information from friends or virtual friends online. Providing a good opportunity for enterprises to employ e-WOM when they making the marketing strategy. Prior to the initiation of new marketing activities, the majority of companies make great efforts to figure out a means of collecting all-round information on overseas target markets and global consumers for the purpose of strengthening competitiveness and then further increasing market share and enterprise benefits. The concept of customer equity has been introduced as a tool to continuously secure customers and create profits in the future. Globalization trends have attached great importance to altering the structure of the fashion industry. In particular, with expectation of conducting innovative marketing, companies engaged in SPA brands are gradually developed into global companies. Furthermore, corporate profitability is very sensitive to consumers’ attitudinal changes due to the short trend cycle of SPA brands. Most of our behaviors are predicated on the attitudes and behaviors of the others. The influence of loyal customers may turn potential customers into loyal customer owing to high customer equity. That is to say, companies may obtain more profits through higher customer equity. The study aims to explore the relationships among social influence, social learning, e-WOM and customer equity. The results of the study can be summarized as follows. First, the study elaborates on the relationships among social influence, social learning, e-WOM and customer equity. Second, by comparing the economic and cultural differences between South Korea and China, the study found the social influence has a positive influence on customer equity in different ways between the two countries.

The Internet is considered as a competitive marketing instrument in advancing business-related information and real-time transaction opportunities (Kumar, 2013). Several brand managers are questioning whether the existent marketing approaches to position their brands, with the purpose to operate in a traditional and online setting, may be enhanced (Liu, 2012). The Internet is recognized as an influential instrument that has changed the manner brands conduct business and the way consumers and businesses interact (Boyland et al., 2013). The distinctive value that the Internet offers over conventional media is the capacity to interact with consumers. This permits practitioners to adjust their presentation to adapt specific consumers’ needs. Contrary to other forms of media, the Internet assists companies to create long-term relationships with its consumers as it allows a distinctive reciprocal communication. This reciprocal communication that distinguishes the latest marketing channels from conventional media is website interactivity (Wang et al., 2013). a mechanized environment the same way as a company does in a traditional environment. It includes communicating with consumers directly, generating an exclusive and individual interaction with them. As a central aspect in technology-mediated communication, Website interactivity has been identified as a critical component to create strong brands (Voorveld et al., 2013). Regardless of the significance of Website interactivity, very limited research was identified in the branding and marketing literature that investigate the influential role of interactivity on brand equity. To this date very few researchers have devoted efforts to investigate the influential impact of Website interactivity on branding constructs. Therefore, this study closes this gap with the conceptualization and the impact of the two dimensions of Website interactivity namely social interactivity and system interactivity on brand equity. Additionally, another contribution is to examine the mediating effect of brand image and brand awareness in the formation of brand equity in the online environment. The study propose a theory-based model of Website interactivity as a precursor to build online brand equity and to examine the relationships among Website interactivity, bran image, brand awareness, and brand equity in the context of branded Websites. Leaning on the fundamentals of branding literature and the Website interactivity theory, a theoretical framework is designed and seven hypotheses are examined. A two-phase analysis is considered, first a Confirmatory factor analysis (CFA) and then a Structural Equation Modeling (SEM). The findings show that the dimensions of Website interactivity impact significantly on the brand awareness and brand image which in turn influence online brand equity. As today limited research has been focused on studying the impact of Website interactivity as a branding instrument. In this study, the authors consider Website interactivity to be the interaction between Websites and individuals. In this sense, Website interactivity is viewed as an essential high-tech capability for building brands (Voorveld et al., 2013) as it allows a reciprocal communication with the system and other users. Current literature indicates that for a more real illustration of the dual dimensions of Website interactivity, studies devote user control as an expression of system interactivity and two-way communication as an expression of social interactivity (Wang et al., 2013). Two-way communication (social interactivity) refers to reciprocal communication between individuals. The dimension is perceived as the interaction between the users and the system (e.g. Website) (e.g. through e-mail, chat or toll-free telephone access to customer service, etc.). The user control (system interactivity) perspective is more concerned with the ability of the user to select content and guide the interaction (Lowry et al., 2006). User control is manifested when individuals are granted the opportunity to select the content and influence the communication. For instance, Web users may feel themselves as possessing user control because they have the capacity to select without restrictions (through an internal search engine).

Although there has been much conceptual evidence of the positive link between customer equity and firm’s performance, comparison of relationships between two firms based on customer equity and firm profitability is limited. However, there is an increasing demand for research that investigates the relationship between firms in the competitive market structure. Therefore, the goal of this research is to examine the role of customer equity on firm profitability by comparing two firms, in a customer equity setting. The result shows that the effect of newly acquired CE of the second top company is stronger than that of the top company while the effect of retained CE of the top company is stronger than that of the second top company. Overall, the results offer strategic implications for firms to implement a different customer equity strategy in this competitive market structure.

The advent of smart shopping environments including innovative information technology, advanced delivery systems, and extended smart phone use has rapidly changed the shopping methods and activities of the consumers. They have chosen smart shopping with greater frequency, which minimizes the use of time, money, effort and energy to buy the right products and to gain shopping experiences such as hedonic and utilitarian feelings (Atkins and Kim, 2012). The concept of smart shopping is based on value co-creation which can be explained as the value from the outcome of interaction between firms and consumers (Grönroos, 2011, Vargo and Lusch, 2004). In the value co-creation process, smart shoppers are willing to perform customer participation behaviors such as information seeking, information sharing, responsible behavior, and personal interaction, and to show customer citizenship behaviors such as feedback, advocacy, helping, and tolerance (Yi and Gong 2013). In smart shopping, a consumer involves in shopping experiences through product purchases and while engaged via the shopping environments such as an elaborate store design, educational events, recreation, and entertainment (Fiore and Kim, 2007). These shopping experiences, which contain both hedonic and utilitarian value (Holbrook and Hirschman, 1982), are better explained by consumer processes, responses on the shopping environment, situation, and consumer characteristics (Fiore and Kim, 2007). The attributes of shopping experience are symbolic, hedonic, and aesthetic (Holbrook and Hirschman, 1982) and utilitarian and hedonic (Kim, Lee and Park, 2014). Smart shoppers who are involved with value co-creation obtain hedonic benefits with emotional, funny, and enjoyable feelings and along with utilitarian benefits such as rational, functional, task-related experiences (Holbrook and Hirschman, 1982). The value co-creation and the shopping experience lead to greater customer equity such as value equity, brand equity, and relationship equity (Lemon, Rust, and Zeithamal 2001). Based on previous literature review, the authors constructed the following hypotheses. First, smart shopping will have positive effects on value co-creation, the shopping experience, and customer equity. Second, the smart shopping will have positive effects on both value co-creation and the shopping experience. Third, value cocreation will have positive effects on the shopping experience. Fourth, value cocreation and the shopping experience will have positive effects on customer equity. The authors collected the data based on questionnaires from mobile smart shoppers. The SPSS 20 and AMOS 20 statistical programs will be used for the data analysis. The analysis found the positive influence that smart shopping has on value co-creation and the shopping experience, and customer equity. This is the first study that shows these relationships from an empirical point-of-view. The findings of the study have useful managerial implications on the effects of value co-creation on both smart shoppers and firms. Value co-creation will provide smart shoppers with better product or service quality and enhance firms with more valuable customer equity. The greater shopping experience is the greater customer equity that will be developed. Value co-creation also will give firms a strong competitive advantage in terms of an organization’s learning, brand perception, reduced risk, improvement of customer relationships, and lowering cost for marketing, and research and development. The study has limitations. First, other potential variables of the value co-creation influencing new service development, customer loyalty, and customer satisfaction etc, could be considered. Second, the length of the relationship between smart shoppers and the service provider in value co-creation process should be considered. Third, the study needs to be generalized to cross sectional research beyond smart shopping area. Finally, to examine the effects of value co-creation and the shopping experience on customer equity, future research could investigate how value co-creation and the shopping experience affect the objective financial performance of a firm.