Introduction Kotler (2015) warned that, if we only pursue economic growth and revenue/profit expansion, we will end up with overconsumption and wastes, bringing serious damage to our planet. He advocated the transition from the growth-oriented economy to the steady-state economy. Steady state economy is defined as an economy that maintains desired sufficient level of throughput with the lowest feasible flows of matter and energy from production to consumption (Kotler, 2015). As Kotler mentioned, this idea is somewhat utopian as most companies are still living in the growth-oriented economy. The purpose of this research is to extend Kotler’s idea by conceptualizing a more concrete model to visualize the marketing in the steady state economy. The model consists of five major elements; customers, stakeholders, employees, suppliers and community. The authors also present twelve propositions that explain promoting factors for the marketing in the steady state economy based on the multiple case studies conducted in Japan. Literature review The steady-state economy itself is actually not a new idea in economics. For example, typical classical economists (e.g., Adam Smith and John Stewart Mill) advocated the transition to the steady-state economy after saturation of economic growth. Neo-classical economists have also postulated the concept of steady state economy with regard to the law of diminishing returns (Tellis, 2008). Many previous studies have continuously put efforts on developing theories and practices to meet with economic, social and environmental needs simultaneously, since Kotler and Zaltman (1971) proposed the concept of social marketing. Although social marketing is closely related to marketing in the steady-state economy, its ethical egotism remains a problem (Crane and Desmond, 2002). Lerman and Shfrin (2015) and Gopaldas (2015) claim positive marketing which creates value for the firm, its customers, and society at large. In short, these concepts suggest the possibility that individual, self-seeking, and short-run behaviors can be consistent with aggregate, altruistic, and long-run behaviors. Besides above exceptions, however, most marketing researchers have evaded the question: What is marketing in the steady-state economy? The purpose of our study is to develop a conceptual framework to analyze “steady-oriented” companies and their marketing strategies based on the case studies in Japan. Research methodology In order to answer the above question, we adopt qualitative heuristic approaches (Kleining, 1994), because our question has not been addressed enough in previous studies mentioned above. First, we collected primary and secondary data from various information sources including company websites, press releases, online business journals, academic case studies, public seminars, presentations at academic meetings and so on (Yin, 2014). As stated by Eisenhardt (1989), we used a theoretical sampling to identify the informants for our multiple case studies. We intentionally chose companies from different industries, locations, length of history, manufacturing technology, etc. Based on the review and data collection, we developed a basic framework and series of theoretical propositions (Yin, 2014). For our study, we selected Japanese companies respecting “sanpo-yoshi” [good for three parties] philosophy. It is a belief that business should be good for sellers, buyers, and society. In fact, positive marketing is similar to this concept of “sanpo-yoshi” which is based on the family precepts of “Ohmi region merchants” in the Edo period (1600-1857) (Ogura, 1991; Usami 2015). Our selected “sanpo-yoshi” oriented companies aim for a harmonious relationship with all the concerning stakeholders and community (see Appendix for the list of selected companies). Figure 1 identifies five key parties covered in the “sanpo-yoshi” management and shows bilateral relations between the company and the five parties. First, “sanpo-yoshi” oriented companies try to build good long-term relationships not only with their customers by selling high-quality products at fair prices, but also with suppliers by buying a stable volume of products at fair prices. In addition, some companies provide their loyal customers with special experience concerning their own brands and their suppliers with technical assistant. In return, customers feel strong loyalty to the brand and suppliers offer a stable supply of high- quality raw materials at fair prices. Moreover, “sanpo-yoshi” companies take an active interest in their employees and the community where they operate because their confidence contributes to sustainable development of the companies. Shareholders for short-term returns, however, are unlikely to give heavy weight to social activities by their investee companies. Therefore, companies whose stocks are unlisted or occupied by long-term shareholders are more favorably inclined toward “sanpo-yoshi” management. Research propositions Based on the case studies of “sanpo-yoshi” companies in Japan, we argue that the enforcement of marketing in the steady-state economy can be tied to three factors: (1) management factors, (2) competitive factors, and (3) financial factors. Within these factors, twelve research propositions are developed for testing in the future research (Eisenhardt and Gaebner, 2007). These factors and propositions are summarized in Figure 2. Management factors are divided into two subcomponents: decision-making and employment factors. First, decision-making factors basically mean that the independence of management from the investors seeking short-term profits enables the management to enforce steady-oriented marketing. The most feasible method is corporate governance by founders or his/her family, although it is not a requirement. For instance, Kagome Co., Ltd. ended the family business operation in 1996, and around 180,000 individual “fan shareholders” accounting for 55.4% (Nikkei, 2017) are supporting the management with a long-term perspective. Second, employment factors indicate that the companies are likely to enforce steady-oriented marketing when they maintain high labor productivity and excellent human resources. In particular, it is more important for companies having many female employees with accumulated experience and know-hows to prevent those employees from quitting the job because of pregnancy or child rearing. Competitive factors are associated with the conditions of the steady state economy surrounding the companies. If the companies have maintained high market share in a mature market for many years, they can afford to enforce “sanpo-yoshi” oriented marketing for sustainability. In terms of financial factors, equity ratio shows the soundness of management, which has positive effects on the enforcement of marketing in the steady state economy. Moreover, ROE measures a company’s profitability by revealing how much profit a company generates with the money which its shareholders have invested. Finally, payout ratio provides valuable insight into a company’s dividend policy. Higher payout ratio indicates that the company is sharing more of its earnings with the shareholders. Implications The findings of this research contribute to the academics by providing a new framework for the marketing in the steady state economy. Further research can empirically test the proposed model in various countries to investigate if this framework is culturally specific to Japan or not. This research also provides practical implications for managers. For sustainable business and better society, companies should keep their eyes on the five elements presented in our research. Thus we can take the very first step for the marketing in the steady state economy.

This study was designed to deepen our understanding of contemporary luxury experience based on a systematic literature review. Based on the theoretical review, this study attempted to propose and elaborate two contrasting propositions (i.e., ephemeral vs. perpetuating values) reflecting the evolving luxury market. One key trend is that consumers pursue the value of hedonism providing immediate escapism and satisfaction in luxury consumption. The on-demand mindset of consumers looking for instant desire and gratification can be exemplified by the ‘See-Now, Buy-Now’ trend in the luxury market (Weinswig, 2017). While traditional luxury consumers pursued conspicuous value, consumers of new luxury pursue more self-centric and immersive experience. In line with this perspective, Yeoman (2011) noticed the trend of renting luxury products through online services. Another notable trend is that consumers seek inspirational resources in luxury consumption. For example, numerous luxury brands are showing various art exhibitions, and have their own art foundations, which Kapferer (2014) interpreted as the emergence of luxury brands exploiting artistic aura like art institutions. In addition, luxury brands have extended their products and services to encompass a whole set of lifestyle offerings when seeing the example of flagship store of Fendi, Palazzo Fendi (Waga, 2016). This review used a systematic approach for searching and assessing the existing scholarly evidence base to interpret two emerging trends in the luxury market. The further use of proposed framework and propositions in empirical research would help revealing how consumers subjectively perceive the contemporary luxury experience discussed in this study.

이슬람 극단주의 테러리즘은 북미와 유럽, 동남아시아 등을 포함하여 보다 광범위한 지역에서 일상화되고 있다. 핵무장에 기인한 북한의 자신 감 상승은 북한 발 테러로 이어질 개연성이 있다. 이밖에도 미국 라스베 가스 총기공격 사건에서 알 수 있는 것처럼 특정한 정치, 사회, 종교적 동기를 갖지 않은 불특정 개인에 의한 폭력적 테러공격이 감행될 소지가 있다. 국내 테러공격의 위험성이 이처럼 증가하는 상황에서 현재 테러방 지법상에서 제시하고 있는 현행 테러경보체계를 살펴보고 그 한계점을 평가하고 발전방안을 제시하는 것은 의미 있는 일이 될 수 있다. 이 논 문은 이러한 취지하에 테러경보체계와 관련된 테러방지법의 내용을 살펴 보고 그 현행 작동방식과 체계를 평가하며, 그 한계점을 논의하고, 이를 바탕으로 제안점을 제시하는 내용들을 담고 있다. 특히 여기서는 테러경 보체계의 역량과 역사가 가장 잘 축적되어 있는 미국의 경험을 바탕으로 국내테러경보체계를 평가하고 시사점을 도출할 것이다. 미국의 사례를 살펴봄으로서 이 논문은 국내 테러경보체계의 현실 적용성을 높이는데 기여할 수 있기를 기대한다.

Physical Surroundings have been identified by a number of researchers as a powerful tool that can manipulate people's mood and cognition. A number of marketing practitioners have accepted this notion, given that physical surroundings are increasingly used as atmospheric stimuli in various retail environment as well as in restaurant. Yet there have not been practical reviews on consumer responses in restaurant setting/environment. By means of a literature review, this study examines how physical surroundings in restaurant settings function on displaying dinning atmosphere. It includes the conceptual definition and classifications of physical surroundings, effect of physical surroundings on customers' internal responses and behaviors, and testable research propositions and directions for future researches. This study is expected to make a substantial contribution to the understanding of restaurant manager and dinning atmosphere displayer about function of physical surroundings in dinning context.

This study aims to review the differences in urban regeneration independently implemented by the government (Ministry of Land, Infrastructure, and Transport, MOLIT) and Seoul based on related laws and ordinances, and to draw out the implications of Korean urban regeneration’s directions. The results are as follows. First, Seoul has constantly responded to the revision of the Urban Regeneration Act by adjusting and specifying the contents of ordinances, and especially, there have been efforts to enhance regional characteristics suitably for the circumstances of Seoul. Second, in the urban regeneration of Seoul, the budgets including the matching ratio of national and local subsidies shall be changed according to the standards of the MOLIT in changing designating places after the selection of the urban regeneration by the ministry, and this procedure and these implementation methods cause confusion to Seoul and local governments. Third, there were differences in the results of comparing the budgets and support methods of the “Gaggum Housing Project” of Seoul and “New Deal Housing Repair Project” of the MOLIT, which caused conflicts due to the differences in the project implementation and support standards, and the arbitrary interpretation of the guidelines. Although the urban regeneration greatly contributed to the revelation and conservation of regional characteristics, it might be necessary to establish systems that can enhance citizens’ awareness and compensate the efficient contents needed for each region in the future.