Hong-bumm Kim

The effect of consumer‐based brand equity on firms’ financial performance

Examines the underlying dimensions of brand equity and how they affect financial performance of hotel firms. The results of this empirical study, using data collected from 12 luxury hotels, indicate that brand loyalty, perceived quality, and brand image are important components of consumer‐based brand equity. The result implies that hotel firms should seriously consider brand loyalty, perceived quality, and brand image when attempting to establish definite brand equity from the customers’ viewpoint. A review of detailed measures constituting these three variables, brand loyalty, brand awareness, and brand image, shows that most measures affect financial performances of hotels. Nonparametric correlation analysis provides fairly convincing evidence of the effect that consumer‐based brand equity has on a firm’s financial performance in the hotel industry

Measuring Customer-Based Restaurant Brand Equity:

Strong brand equity is significantly correlated with revenues for quick-service restaurants. In a study 394 respondents gauged the strength of seven quick service restaurant brands doing business in Seoul, Korea. The study tested four elements of brand equity, namely, brand awareness, brand image, brand loyalty, and perceived quality. Of those attributes, brand awareness had the strongest direct effect on revenues, while loyalty had the least effect. Dividing the restaurants into high-performing and low-performing groups, the researchers found that customers differentiated the high-performing restaurants on several product-quality measures, including knowledgeable employees and food served on time and as ordered. Oddly, high-and low-performing restaurants were not differentiated on such other quality factors as making quick corrections to errors, experienced personnel, and cleanliness. One other contrary finding was that although brand equity comprises all four factors being tested, awareness showed the smallest effect on brand equity, far eclipsed by image, loyalty, and product quality.

Impacts of senior citizens’ lifestyle on their choices of elderly housing

This study examines how the lifestyle of senior citizens affects their choices of retirement communities. A survey was conducted among 256 potential customers of elderly housing, targeting citizens over 45 years old who were residents of Seoul, the capital city of Korea, at the time of the survey. Findings reveal that most respondents preferred a location based in proximity to Seoul, convenience to the suburbs, a pleasant surrounding environment, and physical equipment and facilities. Medical services and community services were also found to have an impact on preference for residency. Canonical correlation analysis between the factors of elderly lifestyle and selection attribute factors of senior housing facilities demonstrates various significant relationships with implications for developers.

Do expectations of future wealth increase outbound tourism? Evidence from Korea

Abstract As international tourism is generally considered a luxury good, models to date have shared an understanding that demand is dependent on discretionary income. However, consumption theories predict that a shift in demand can be induced without changes in actual earnings when expectations for future income are adjusted. This presumes demand for international tourism can be influenced by “wealth effects” from real estate and financial assets. This study tested for the wealth effect on Korean outbound travelers during the 20 years between 1989 and 2009. Korea is a unique place to examine in that Korean households possess housing assets and financial assets that are traded actively in markets. The results of this study favored the possibility of a significant wealth effect from housing on outbound travel demand, but not from financial assets. This may be explained by data sensitivity and the relative importance of financial assets in the Korean peoples wealth portfolios. Implications and suggestions for future research are provided along with the findings of the study.

Impacts of city personality and image on revisit intention

Purpose – The purpose of this paper is to examine the causal relationships of city personality and city image, together with the possible effect of city image on the revisit intention of visitors, through empirical validation, so that some meaningful implications can reveal to city planners and marketers how the city tourists can be affected by the personality and image of the city. Design/methodology/approach – This study offers an integrated approach to understanding the relationship between city personality and city image. The research model investigates the relevant relationships among the underlying dimensions of city personality and city image by using a structural equation modeling (SEM) approach. Data obtained from a sample of 302 respondents drawn from a web-based survey in South Korea were analyzed with AMOS program. Findings – The results of this empirical study indicate that city personality positively or negatively affect city image depending on the nature of constructs. Positive relationship...

The impact of hotel property size in determining the importance of electronic distribution channels

Purpose – The purpose of this paper is to examine the use of electronic distribution systems (EDS) in Korean hotels and investigate the differences between large and small and medium (S&M) hotels.Design/methodology/approach – This is a qualitative and explorative study. An in‐depth interview was conducted of seven large hotels and nine S&M hotels.Findings – Regardless of size, the surveyed hotels received, on average, more reservations through offline systems than online. It was found that large hotels showed less variation in the use of EDS than S&M hotels. While there was no distinct difference in the overall use of EDS, in terms of average, the highest percentage of hotel EDS use was demonstrated by S&M hotels. Regarding specific components and distribution flows, large hotels overall employed a variety of distribution channels, often implemented in multi‐faceted systems. S&M hotels, in most cases, adopted simpler distribution flows, i.e. hotel web sites and online travel agencies. This difference seem...

Success factors of health tourism: cases of Asian tourism cities

Purpose – The purpose of this paper is to delineate a clear definition of health tourism, and to explain it in two sub-categories, namely, medical tourism, and wellness tourism. Design/methodology/approach – Grounded theory approach through an in-depth literature review and practical data from three different cities were researched to support the study. Findings – Determinants of travelers’ decision making for the destination of health tourism, such as distance, cost, language, economy, competency of medical technology, and culture, in each classification of health tourism, were identified. Originality/value – This study suggests an inductive research model to synthesize and structure a logical relationship of determinants that affect health tourists’ decision to visit specific health tourism destinations. The results of this study are quite revealing to governments, industrial practitioners, and potential customers of health tourism in terms of the context of health tourism and the behavior of health tou...

The impact of research sponsorship upon research effectiveness

Abstract This study investigates how the relationship between the nature of sponsorship and research effectiveness varies according to four categories of RD research stage, research object, research area, and the status of the research in advanced countries according to the technology life cycle. In this study, the existing concepts of ‘demand-pull’ and ‘technology-push’ are reexamined from the perspective of research sponsorship, which classifies research projects as either ‘user-activated’ or ‘researcheractivated project’. The findings suggest that in the case of basic research, researcher-activated projects have a higher degree of achievement of technological objectives, while in applied and development research, user-activated projects have more commercial success. Process development research has a high rate of technical success when it is researcher activated, while product development has a high rate of commercial success, when user activated. Parts and components development shows no significant differences between the two project types. Concerning research area, user-activated projects in chemistry and chemical engineering and food and biological engineering have a higher degree of technical success, while user-activated projects in electronics and electrical engineering and mechanical engineering have a higher degree of commercial success. As regards the technologys stage in the technology life cycle in advanced countries, user-activated projects in allstages have a higher degree of achievement for commercial success than for technical success.