Purpose – The purpose of this paper is to examine retail brand equity driver and equity components, and discuss the differentiation of retail branding strategy of three types of supermarket (national chain, local chain and specialty chain) especially in Japan. Design/methodology/approach –The empirical study is based on a sample of 3,062 customers usually using supermarket chain stores (total 58 chain stores) via Internet research household panel to develop this model, and using multiple-group structural equation modeling. Findings – First, store equity driver influence the retail brand equity than policy of corporate driver, and the most affect factor of store equity driver is a service and support. Second, Retail brand equity components were distinctiveness, emotional loyalty, experience value, and trustworthiness. Emotional loyalty and experience value influences the behavioral loyalty. Third, three types of supermarket have different equity drivers, and they influence the purchase behavior. Specialty chain has a strong store driver, which increases of price per unit. National chain and local chain has a strong covariance policy of corporate driver and store equity driver, which influences the retail brand equity. Originality/value – Understanding the retail brand equity in Japanese supermarkets. Retail brand equity is made from a holistic aggregation of some components, and equity driver is made from store attributes and corporate attributes, which are attribution level of operational activities. Consumer recognizes the store as a holistic brand but company wants to know how to increase the behavioral loyalty (purchase behavior), this retail brand equity model integrates the retail brand as holistic and attribution level approach follows retail-marketing activities.

Social media, Web 2.0 based social activity and powerful marketing tool, brought about a new paradigm for the 21st century culture and society. In line with the trend, the fashion industry is vigorously undertaking marketing activities on social media, seeking to build and maintain relationships with their customers through the Internet and mobile devices. The one-way provision of information by firms to customers has evolved to a symmetrical form of customers, whereby the customers also supply information to the firms share information with other customers. Through social media services, customers not only share their thoughts and experiences but also exchange tangible products and publicize the products, thereby directly participating in production and marketing activities of brands. Such participation of consumers offers inspirations for differentiated service on the part of the brands, for which proactive and long-term participatory activities of customers are required. Customer participation is of primary importance in current service marketing industry. Until now, related literature on customer participation has mostly centered on offline service situations. However, the advent of social media has simplified the process of participation for customers, and invoking voluntary customer participation has become the greatest challenge facing service industries, and, at the same time, the path to success. Those of us who live in the age of information technology are offered the opportunity to engage in two-way communication with other customers, the brand, and the media. Thus, customer participation is just as, if not, more important in an online environment. More and more customers are becoming directly involved in brand activities, which affect the brands as well as the customers themselves. Nonetheless, extant customer participation research focuses on developing constructs that are largely based on offline situations. Although such constructs correspond in part to the online setting, they fall short of meeting the unique characteristics of customer participation in social media. Therefore, in order to establish constructs for customer participation in social media, revision and supplementation of the offline-based constructs were found to be necessary. Based on interaction theory, this study explored the notion of customer participation in fashion brands’ social networking site (SNS) service by categorizing it into three types: customer-customer, customer-brand, and customer-media participation. In addition, it examined the external factors that influence customer social participation and how active social participation of customers in SNS affects trust and customer equity. The association between measurement variables according to the brand type was also closely examined. This study underwent two pre-tests to revise and supplement the survey items on customer social participation. A preliminary investigation was conducted on 516 respondents, and a total of 582 respondents participated in the main investigation. The respondents who were invited to participate lived in Korea, were in their 20s or 30s, and had previous experience in using fashion brands’ SNS service, SPSS 18.0 was used to conduct frequency analysis, exploratory factor analysis, reliability analysis, and t-test. Based on the results, AMOS 18.0 was used to undergo confirmatory factor analysis and structural equation modeling. The results of the study are summarized as follows. Based on the brand type (SPA and luxury) and the rate of sales, Uniqlo, a global SPA brand that boasts the largest number of SNS fans, and Louis Vuitton, a global luxury brand, were chosen for the study. The respondents consisted of consumers in their 20s and the 30s who, within the last six months, had previous experience in using the SNS service of the brands. The sample consisted of 40.7% male and 59.6% female, and 72.5% were in their 20s and 27.5% in 30s. A large percentage of the respondents were students (64.9%). The large proportion of university students reflects the trend of most active users of SNS being university students. Second, SNS service shopping context found positive association with customer-customer participation and customer-brand participation, but customer-media participation was insignificant. The results show that as the SNS is characterized by its linkage to different websites and platforms, customers are exposed to constant opportunities for participation. On the other hand, customer-media participation was found to be insignificant, which can be interpreted as indiscriminate constant supply of information that seeks to spur impulsive buying leading to antagonism of the customers. Such negative situations can be avoided by departing from indiscriminate provision of information to offering information that is customized to the needs and demands of each customer and invoking the customer to participate in information delivery. Third, SNS participation motivation and customer social participation were all positively associated. In particular, customer-media participation demonstrated the strongest influence, followed by customer-customer and customer-brand participation. As such, active participation of the customer with the brand is the most effective way to create collaborative, synergy effect or co-creation. Fourth, all routes from SNS user orientation to customer social participation were significant. SNS users in general possessed high levels of self-efficacy and tended to feel elevated as well as find altruistic pleasure in providing information that would help others. Such users participate through numerous ways such as customer-brand and customer-media participation but were the most active in customer-customer participation. Fifth, it was found that customer-customer and customer-brand participation builds trust of the customers toward the SNS service and the information or the information provider. However, customer-media participation did not indicate the same results. In order to build trust through participation, brands need to provide an inviting environment for customers to post comments and share information. Furthermore, marketing strategies, such as offering events and coupons to stimulate E-WOM activities of customers as well as creating a space for open communication are vital to building trust. Sixth, customer-media participation was positively associated with customer equity. Unlike customer-customer and customer-brand participation which requires constant physical effort of the customer, customer-media participation demands considerably less time and effort apart from the initial stages during which customization process is undergone to receive tailored information with just one click. Therefore, establishing convenient and practical system that targets the Y-generation in their 20s and 30s is emphasized in order to maintain a long-term relationship. Seventh, trust is positively associated with customer equity. Building trust is based on interactivity among people. This study found that customer-customer participation and customer-brand participation influence customer equity through trust, while customer-media participation leads to customer equity without being mediated by trust. Therefore, all three types of participation are equally important to customer equity. Eighth, brand type was a meaningful moderator to the relationship between SNS service shopping context, SNS service user orientation, participation motivation, customer social participation, trust, and customer equity. To summarize, the type of participation to encourage is based on the brand type, and as customers may have different expectations according to the brand, it is important to understand their orientations and provide customized information or an open space for communication. In addition, participation behavior has a strong potential to influence customer equity, but depending on the type of participation, trust may not necessarily positively influence customer equity. Therefore, it is recommended that brands offer credible and sincere information that customers can trust and follow. The significance of this study is that it is one of the first studies to examine customer participation in a social media environment. At a point in time where customers’ value creation is attracting increased attention, this study empirically revealed that customer-media relationship, which enables customer-customer and customer-brand participation on SNS, is also within the bounds of participation. Furthermore, this study identified the importance of relational marketing approach to brand and customer through customer social participation. By applying the concept of customer equity, which is in its fledgling stage in the area of consumer fashion marketing, it offers a basis for future research on long-term relationship building with firms The limitations of the study and suggestions for future research are discussed below. The sample of the study consisted of Koreans between the ages of 20 to 30. The limitation in the sample is inadequate to generalize the findings, and therefore, a comparative study with broader sample across culture and age is necessary. Moreover, this study observed customer participation on SNS environment. However, as there was a lack of preceding literature in this area, the measurement scales were revised and supplemented to fit the purpose of this study. The measurement instrument, therefore, needs to be further applied with different antecedents and consequences in subsequent research. Finally, due to the lack of previous literature on customer participation in SNS environment, the theoretical basis of the relationship between the variables lacked solidity. This study adapted a part of a theoretical framework to fit the context of the study to come up with the hypothesized relationship between the variables. Therefore, it is suggested that future research works toward developing and strengthening the theoretical framework of customer social participation.

With increasing competition in the global marketplace and the shift marketing activities from product-centered to consumer-centered, companies make efforts to collect information on overseas markets and global consumers prior to the initiation of new marketing activities. The concept of customer equity has been introduced as a tool to continously secure customers and create profits in the future. These trends also play an important role in the fashion industry since many fashion brands are growing into global companies, but need to adapt their innovative marketing strategies to different market environments, such as cultural settings. For this reason, more understanding of the individual consumers and the responses to marketing strategies is required. Furthermore, the trend cycle of SPA brands tends to be very short, so corporate profitability is highly sensitive to consumers’ attitudinal changes. The purpose of this study is to investigate the role of cultural value in the global customer equity model focusing on SPA brands. For that, fashion SPA brands which are active globally will be selected and surveys will be distributed in several countries in order to compare and analyze the impact of cultural value on customer equity. The expected results of this study will contribute to the global market segmentation in terms of improved marketing efforts. Marketers will be able to understand which one of the three customer equity drivers – relationship, value, brand – is most important to the cultural setting. Furthermore, the findings will indicate which cultural value is most dominant in the respective country to direct marketing approaches towards these values. Through this improved knowledge over customers, companies can lower their marketing investments, analyze the individual profitability of customers to their company and communicate in more efficient ways to the customers. By gaining more knowledge about the consumer behavior in the respective country, SPA brands will be able to better understand product preferences and purchase patterns and therefore plan product style and life cycles in more efficient ways, which is crucial in such a fast continously changing marketplace. In this way, this study extends the research scope towards a cultural perspective on customer equity.

Researcher in the western world have studied corporate social responsibility (CSR), sustainable development, and marketing procedures for combining CSR and sustainability, but Asian awareness has been limited on both corporate and state levels. Asian researchers need to improve sustainable marketing theory because China, especially, urgently needs to confront the problem in sustainability management. The authors argue that Confucian principles, which are built on five constant virtues that have guided family and commercial life in China for more than 2,500 years, are relevant to theory regarding CSR and sustainability. To analyze sustainability in China in relation to Confucian principles, the authors develop and refine a questionnaire to be used in China, and use SPSS to analyze reliability and EFA. They use CFA and SEM to analyze sustainable marketing performance and customer equity and derive conclusions and implications.

This study examines the effect of SPA store experience on formation of customer equity. Here we distingush dimension of store experience to sensory, affective, behavioral, intellectual, and relational experience and dimension of customer equity to value, brand, relationship equity. To verify relationship between dimension of store experience and customer equity, as well as loyalty, we use structural equation modeling. As a result, relationship between variables have a significant effect on each other exclude hypotheses such as relationship between affective experience and value equity and relationship between behavioural experience and relationship equity. The result indicates that reinforcing SPA store experience likely to have positive impact on formation of customer equity and loyalty strength.

The Consumer-Based Brand Equity (CBBE) literature has, in recent years, introduced various CBBE models and measurement scales. This study aims to compare the external validity of the two prominent CBBE models in the fashion retail industry; those introduced by Yoo and Donthu (2011) based on Aaker (1991)’s CBBE concept and Nam et al. (2011). In order to make this comparison, the study collected data from 285 respondents in Turkey. Research findings show that Nam et al.’s (2011) CBBE model is, in the fashion industry context, the more reliable and valid. When the concept of “brand awareness” is included in this model, the psychometric properties of the model are improved.

In recent years, the exploration of the quantifiable effects of market-based intangible assets on firm performance has become increasingly important in marketing and management literature. Corporate reputation, considered as a one of the key marketing metrics for maintaining and enhancing companies’ competitiveness in the globalized economy, plays an essential part in this context. Numerous studies show the impact of reputation on measures of financial performance, justifying companies’ endeavors to install and dedicate effort towards systematic reputation management and tracking. A possible consequence of a good reputation that has so far been neglected in academic research is a decrease in a company’s cost of equity capital, a measure that constitutes an important basis for the decision to invest in future projects, thus playing a vital part in the creation and preservation of strategic competitive advantages. A firm’s cost of equity is defined as the required rate of return, given the market’s perception of the firm’s riskiness. It is based on investors’ expectations about future returns and estimated by means of residual income models with varying assumptions and restrictions (in this study: Claus and Thomas 200, Gebhardt et al. 2001, Ohlson and Juettner-Nauroth 2005, and Easton 2004), equating the current stock price to future cash flows that are discounted with the firm’s implied cost of equity. To account for industry-specific idiosyncrasies, each firm’s cost of equity is adjusted by the monthly industry median. Corporate reputation is defined as an attitudinal mindset towards a company. Following the model of Schwaiger (2004), it is conceptualized as a two-dimensional construct comprising a cognitive (competence) and an affective (likeability) component; reputation is the linear combination of these two dimensions. Corporate reputation data was collected in 13 semi-annual waves from large-scale samples representing the general public in Germany. By applying panel data analysis on a set of the 30 largest publicly listed German companies during a seven-year time-span (2005-2011) and controlling for commonly known factors, I show that corporate reputation significantly reduces a firm’s cost of equity. This relationship holds when reputation is corrected for prior financial performance and industry affiliation. My results should help managers to further strengthen their argument that reputation management is value-relevant. This study should be seen as a starting point for further research to gain a deeper understanding of the reputation-cost of capital-interface.

The purpose of this research is to analysis and to verify the influence between attitude toward navy brand and customer equity. To do that, we regard the navy serving in R.O.K. Navy as the customers. All Korean men over 18 years older are drafted into the army by the constitution of Republic of Korea. This means that Korean military forces are recruited by the power of the State. However, the military officers, petty officers and Navy(including the Marine corps)•Air forces volunteer for military service. Korean government uses two military entrance processes which are both forcible and volunteering. With the slogan “The Ocean Navy”, the R.O.K. Navy is trying to build powerful naval forces. It is essential to acquire the elite military forces that help the Korean Navy accomplish the goal and heighten the competitiveness. The enlisted military forces are expected to show their own ability inside the R.O.K. Navy. After they are discharged, they will have positive influences to the local communities as the supporters of the R.O.K. Navy. The R.O.K. Navy has made lots of efforts for its navies who are soon discharged to have pride and affection as post-Korean navies through many programs such as educations and events. Discharged navies are expected to play important roles to response national policies actively, to lead the development of local communities, and to stand in advance guard for navy PR activities. Although many researches confirmed and verified the customer equity, there was no research on the customer equity of nonprofit organizations, especially the military forces. This research defined the customer equity from the attitudes toward Korean navy brand perspective in detail. This study also identified the influential factors on brand attitude and some relationships among the variables of the customer equity. This research contributes to the development of effective marketing strategies for Korean Navy brand and customer equity that Korean navy policy officers build.

Introduction Driven by the rapidly evolving media landscape, firms extensively use social media to engage with their customers (Avery et al., 2010). Today, social media is an integral part of an individual’s daily life, which makes a vital venue through which companies connect with customers (Men & Tsai, 2011; Utz, 2009). Given the increased use of social media, recent studies have investigated how social media cultivates customer relationships with celebrities and/or media personalities (e.g., Smith, 2010). In light of the effectiveness of social media as a marketing tool, it is noteworthy to analyze the source power of celebrities and social relationships and consider how to take advantage of the power. The parasocial relationship is founded upon the communication process, which is an important factor in understanding the relationship between media and users. Parasocial relationships differ according to the motives for using social network service (SNS), while connection and attachment to celebrities, such as having empathy for a particular celebrity, is affected by celebrity source credibility. (Ohanian, 1990). The purpose of this study is to clarify the relation between parasocial relationships and customer equity in the social media context. The study investigates effects of motivations to use SNS and source credibility on parasocial relationships, as well as the effects of parasocial relationships on attitude and customer equity, and customer lifetime value. Theoretical Frameworks In this study, parasocial relationship refers to a virtual intimacy between a media personality and the media users, in other words, it is a psychological, interpersonal relationship unilaterally formed by users based on proximity, similarity, and attraction to the media personalities (Rubin & Step, 2000). When a parasocial relationship is formed, the media consumer appreciates the values and motives of the media character, often viewing him or her as a counselor, comforter, and model (Horton & Wohl, 1956). When using an SNS, users’ communication habits and their selection of social network services vary according to their motives, which in turn affect the parasocial relationships with celebrities via SNS. Motives for using SNS, specifically, information seeking, entertainment, and social connection may have a positive relationship with parasocial relationships. Source credibility, the positive characteristics of a communicator that affect the receiver’s acceptance of a message, positively influences parasocial relationships (Ohanian, 1990; McCracken, 1989) based on expertise, trustworthiness, and attractiveness of the media celebrities. In the social media context, a parasocial relationship has positive influence on attitude toward using an SNS. Social media users engage in finding people with whom they have an offline connection (Ellison, Steinfield, & Lampe, 2007). Social media enables individuals to connect with others all around the world easily, it is not surprising that parasocial relationships influence users’ attitude toward using social media, offering environments to enhance connections (Byod & Ellison, 2008). Further, it is worthwhile to note that parasocial relationships may have a positive influence on customer equity. The key to customer equity lies in understanding the customer lifetime value concept, which refers to the net present value of a customer’s profit stream (Rust, Lemon, & Zeithaml, 2004). Parasocial relationships positively influence brand, value and relationship equity, with the emergence of brands as one of the key organizational assets (Gummesson, 2004). Parasocial relationships explain relationships between individuals and brands, product, symbols, objects, and corporate identities. Such relationships allow individuals to have bonds with brands, trademarks and other symbols, politicians, sportsmen or even actors (Gummesson, 2004). Thus, they positively influence customer equity including brand equity, value equity, and relationship equity. Focused on effects of motivations to use SNS and source credibility on parasocial relationship as well as the effects of parasocial relationship on attitude, customer equity, and customer lifetime value, this study tests the following hypotheses: H1: Motivations to use SNS will have a positive influence on parasocial relationship. H2: Source credibility will have a positive influence on parasocial relationship. H3: Parasocial relationship will have a positive influence on attitude toward using SNS. H4: Attitude toward using SNS will have a positive influence on customer equity. H5: Parasocial relationship will have a positive influence on customer equity. Methods This study used a survey to investigate key questions about the associations between parasocial relationships and customer equity. A total of 350 social media users recruited from Hong Kong and Macau in China participated in the survey. Of the 350 participants, 129 were men (36.9%) and 221 were women (63.1%), with ages ranging from 21 and 35 years old (mean = 25.6 years). This study measured motivations for using SNS on a five-point Likert scale (1 = strongly disagree; 7 = strongly agree), which was adapted from an existing motivation scale (Leung, 2009; Leung & Wei, 1998; Sheldon 2008). To measure source credibility, this study used a five-point Likert scale, which was also adapted from an existing source credibility scale (Eisend & Langner, 2010; Priester & Petty 2003). Parasocial relationships were measured on the basis of user responses to 17 items on an existing five-point scale that assessed parasocial relationships (Koeppel et al., 1993). This study measured attitude toward using SNS through an existing scale (Venkatesh, Morris, Davis, & Davis, 2003). Customer equity was measured using an existing five-point scale (Keller, 2003; Rust et al., 2004) that elicited user responses to 13 items. Customer lifetime value (CLV) was calculated only for the customers in the sample, and CLVs were calculated separately before the average was taken by using the equation below: The CLVij of customer i to brand j, is given as: Tij= Frequency of purchases by customer i for a specific period of time dj= The rate of discount offered by company j fi= Annual average frequency of purchases by customer i for a certain period of time Vijt= The amount of purchase of brand j by customer i for a period of time t πijt= Expected profits by purchase unit of brand j by customer i for a period of time t Bijt= Probability that customer i buys brand j in purchase t Results The overall goodness-of-fit for this measurement model was acceptable (Chi-square = 8.218, df = 5, p = 0.145, GFI = 0.992, CFI = 0.991, RMR = 0.095, RMSEA = 0.043). The reliability coefficients of all 20 motivation measures were 0.885, and they were based on three factors of information seeking, entertainment, and building relationships. The reliability coefficients of all 16 source credibility measures were 0.924 with three factors of attractiveness, expertise, and trustworthiness. The reliability coefficients of all 17 parasocial relationship measures were 0.866 with three factors: proximity, similarity, and attachments. The reliability coefficients of all 13 customer equity measures were 0.838 with three factors of value equity, brand equity, and relationship equity. Cronbach’s alpha for attitude was 0.792. The coefficients indicate the acceptable reliability of the measures. Motivations to use SNS showed statistically positive effects on parasocial relationship (β = 0.151, p < 0.001). Specifically, entertainment (β = 0.148, p < 0.01) and building relationships (β = 0.093, p < 0.05) motivations showed significant positive effects on parasocial relationships while information seeking motivation did not show significant effects on parasocial relationships (β = 0.074). Source credibility showed statistically positive effects on parasocial relationship (β = 0.316, p < 0.001). Thus, the results supported H1 and H2. Parasocial relationships showed statistically positive effects on attitude (β = 0.295, p < 0.001) and customer equity (β = 0.272, p < 0.001). Attitude showed statistically positive effects on customer equity (β = 0.172, p < 0.001). Thus, the results supported H3 and H4. Customer equity showed statistically positive effects on customer lifetime value (β = 3.452, p < 0.001). Thus, the results supported H5 (see Table 1, Figure 1). Discussion This study contributes to clarifying parasocial relationships in the social media context and determining the relationships between parasocial relationship and customer equity. This study contributes to the theoretical foundation and implications of parasocial relationships and customer equity. Specifically, motivations to use SNS and source credibility positively influence parasocial relationship. Parasocial relationships have positive effects on attitude and customer equity. Customer equity, in turn, has positive effects on customer lifetime value. The study is the first of its kind on the effects of parasocial relationships on customer equity in the social media context. The study finds that motivations and source credibility are important antecedents of consumers’ parasocial relationships formed via social media. Parasocial relationships have a positive effect on attitude and customer equity, and customer equity leads to increased customer lifetime value. This study suggests that parasocial relationship is one of the strong influential variables on customer equity as it improves customer lifetime value. Thus, marketers should definitely consider parasocial relationship management in the social media context while tailoring their brand communications to their most profitable customers and enhance their customer lifetime value.

The branding concept has been burgeoning from product branding and extending to service, corporate, and further nation branding (Papadopoulous & Heslop, 2002). The concept found in the tourism literature has been mostly adapted to a tourism destination (e.g., Gartner & Konecnik Ruzzier, 2011; Im, Kim, Elliot & Han, 2012). However, unlike characteristics of a manufactured product, a tourism destination has difficulties in terms of definition, measurement, and conceptualization (Murphy, Moscardo & Benckendorff, 2007). As a consequence, there has been a shortage of empirical research relating to the application of the branding concept to tourism destination management organizations spanning from national to local tourism organizations (Blain, Levy & Ritchie, 2005; Pike, 2010). To understand tourism destination branding, recently, studies have been conducted in the context of destination branding as a part of destination marketing strategy (Morgan, Prichard & Pride, 2001), brand identity and personality (Morgan et al., 2001; Murphy, Moscardo & Benckendorff, 2007), and brand logos and slogans (Blain et al., 2005; Hem & Iversen, 2004). The concept of the destination brand equity will be applied to Hong Kong tourists who are traveling to Switzerland. Switzerland is becoming a hot spot for Chinese long-haul trips following European destinations like UK, France, or Italy. Since a decade the core countries of the European Alps Switzerland concentrates more specifically on the Chinese market and with a time lag of a few years the overnight stays have started growing (Schmid, 2012). Since 2008 the overnight stays of Chinese touristsindicated a double- digit jump over the last five years and resulted in an accumulated growth rate of 246.9 percent, that is, the overnight stays per year climbed from 214,000 (2008) to 744,000 (2012) (BFS, 2009 & 2013). The Swiss Tourism Board estimated 2 million overnight stays from China in 2020. In this case China would overturn the neighboring country Italy as one of the key source markets for Switzerland (Schmid, 2012). The high increase in Chinese tourists led to marketing efforts of Switzerland Tourism and the Swiss Hotel Association hotelleriesuisse with their initiative “Hallo China” (Switzerland Tourism, 2004). At first, the main purpose of this study is to conceptualize destination brand equity. Second, it is to propose a destination brand equity model. Third, it is to test the model using a sample of Hong Kong tourists who travel to Switzerland. Fourth, it is to investigate characteristics of tourism products preferred by Hong Kong tourists. Fifth, it is to explore how their preferences for tourism products are different according to their travel-related or demographic variables. This study expects those outcomes and benefits. Frist, components consisting of destination brand equity model and conceptual model will be generated. Second, brand equity of Switzerland as perceived by Hong Kong tourists will be tested. Third, better understanding of Hong Kong tourists regarding their perception of Swiss image, level of awareness, overall quality, loyalty, and overall brand equity will be facilitated. Fourth, most previous studies focused only on preference, behavior or attitudes of Hong Kong tourists who travel in a short-haul distance. On the contrary, this study attempts to understand Hong Kong tourists to a long-haul tourism destination, here Europe. Fifth, according to specialization theory, more specialized tourists tend to select more far-way and more risky destination because their knowledge is growing and a range of their selection is diverse. In an increasing future trend in demand of overseas Chinese tourists, this study attempts to identify long-haul Hong Kong tourists’ preference, attitude or behavior in Europe.

This study examines the effect of SPA store experience on formation of customer equity. Here we distingush dimension of store experience to sensory, affective, behavioral, intellectual, and relational experience and dimension of customer equity to value, brand, relationship equity. To verify relationship between dimension of store experience and customer equity, as well as loyalty, we use structural equation modeling. As a result, relationship between variables have a significant effect on each other exclude hypotheses such as relationship between affective experience and value equity and relationship between behavioural experience and relationship equity. The result indicates that reinforcing SPA store experience likely to have positive impact on formation of customer equity and loyalty strength.

Although several causal studies investigate the relationships between customer equity (CE) and firm performance, there has been some debate about whether their positive relationship is valid over long time horizons and across firm/industry environments. In this paper, we investigate the dynamic effect of CE on firm performance. Using individual-level purchase data for an online retailer, we find a weak relationship between CE and firm profitability, which is not consistent with previous assumptions and beliefs. Additional analysis to resolve this gap shows that in the early stage when a firm’s growth rate is relatively high the firm is required to manage many newly enrolled customers. This means that newly acquired customer equity (NCE) has a larger effect than retained customer equity (RCE) on firm profitability in the early stage. In contrast, in the mature stage when a firm’s growth rate is stable and low the firm should retain its customers. This means that RCE has a larger effect than NCE on firm profitability in the mature stage. Thus, marketing managers need to leverage the drivers of acquisition and retention to continue to grow overall CE and firm performance.

The purpose of this study was to look into how alliance discount cards affect customers using family restaurants by analyzing and identifying the difference in brand equity and satisfaction according to the propensity of using alliance discount cards. For this purpose, 407 customers who have used family restaurants completed a questionnaire survey. The study findings indicated that (1) there were significant differences in brand equity and satisfaction according to the propensity to use alliance discount cards. Moreover, it was found that groups with a strong propensity to use alliance discount cards had higher brand equity and satisfaction than groups that did not; also, (2) it was found that there were significant differences in brand equity and satisfaction according to the intensity of dependency on alliance discount cards. The group with strong loyalty to alliance discount cards went beyond the level of strong propensity to use alliance discount cards, of preference, and of use, which were previously proposed. This study implied that from mid-to long-term perspectives, it was necessary to operate a policy for more active alliance discounts as well as to ensure sufficient options for partnership benefits. Furthermore, it was essential to maintain the menu and service quality of restaurants, which were intrinsic factors for elevating brand equity and satisfaction in restaurants among dining customers.

In order to suggest the methodology for improving the equity of flow distribution in open channel with multiple outlet, CFD simulations were carried out for actual scale distribution channel being operated in domestic G_WTP(Water Treatment Plant). Also, before and after installing the longitudinal multi hole(diameter=250 mm, 116 holes) baffle suggested by this research, turbidity measurements data were collected for evaluating the effects of hydraulic modification for inlet flow equity. From the both results, total turbidity of settled water was lowered by 30 % and equity of flow distribution was improved about 60 % compared with before hydraulic structure modification.

Sportswear brands in particular have been intensely competing to get an opportunity to prove the value of their new technology and products through sports sponsorship. The purpose of this study was to examine the relationship among sports involvement, the attitude toward sports sponsorship carried by sportswear brands, brand equity, and purchase intention of the products of the sponsor's brand. The study was implemented though a descriptive survey method using a questionnaire. The sample consisted of 455 men (n=289) and women (n=166) in their twenties, residing in Seoul and Gyeonggi area. Data were analyzed by confirmatory factor analysis, correlation analysis, and path analysis of structural equation modeling. The results revealed that sports involvement has an influence on the consumers' attitudes toward sports sponsorship performed by sportswear brands. Also, the sports sponsorship attitude of consumers had an influence on the brand equity and purchase intention toward the sponsor's brand products. It was notable that the attitude toward the manner of sponsoring of the sponsor than the contents itself of the sports event sponsored had an influence more on brand loyalty. Among the component factors of brand equity, brand loyalty showed the biggest impact on purchase intention. Considering the results, in order for sports sponsorship to be more effective, sports involvement of the target market should be considered more carefully.

In this paper, we provide application strategies of representative finance and investment metrics using breakdown properties of Return On Equity(ROE). The research discusses the relationship of ROE for finance and investment metrics such as Return On Asset(ROA), Return On Invested Capital(ROIC), Price Book Ratio(PBR), and Price Earning Ratio(PER). Furthermore, we provide three different perspectives of its purpose and utility of Residual Income(RI) Models, Market Value(MV) Models and Enterprise Value(EV) Models.

목 적: 안경구매자의 구매결정요인과 브랜드 자산인식이 구매만족과 구전의도에 미치는 영향에 대한 상호 관계를 알아보고자 하였다. 방 법 : 2011년 10월부터 12월까지 광주지역, 대구지역, 대전지역의 안경원 구매고객을 대상으로 437부의 설문지가 자료분석에 사용되었다. SPSS 18.0 통계 프로그램을 이용하여 구매결정요인에 대한 상관관계분석 과 구매만족과 구전의도에 대해여 다중회귀분석을 실시하였다. 결 과 : 구매결정요인은 고객서비스 및 디자인요인, 상품특성요인, 구매경험요인, 컨텐츠 및 커뮤니티요인 순으로 나타났고, 안경구매 소비자의 브랜드자산 인식에 대한 구매만족 및 구전의도는 브랜드에 대한 지각된 품질, 브랜드 인지도, 브랜드 이미지 순으로 나타났다. 결 론 : 안경구매자의 구매만족과 구전의도를 향상시키기 위해서 고객서비스 및 디자인에 대해 경쟁력을 갖추어야 하며 브랜드에 대한 지각된 품질을 향상시키는 노력이 필요하겠다.

The purpose of this study is to examine the dynamic relationships among locus of control as a individual traits, the three organizational equity factors(distributive equity, procedural equity and interactional equity), individual attitudes and behaviors(j