Impact of Pricing Strategies on Sales and Revenue in Korean Fashion Industry

This research paper analyzes the impact of pricing strategies on sales and revenue in the Korean Fashion Industry. It includes a literature review on marketing mix strategy, fashion marketing, pricing, perception of customers regarding price and value, relationship between price and demand, and price elasticity of demand. The research methodology includes qualitative and quantitative analysis using cross tab tool and Pearson’s Chi Test. The paper concludes with recommendations for the fashion industry.

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Running head: RESEARCH PAPER
RESEARCH PAPER
Name of the Student
Name of the University
Author Note

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Executive Summary
The Fashion Industry can be stated to be highly dynamic in nature. With respect to this, it can be
mentioned that there are various companies lying in the Korean Fashion industry which are quite
popular in Korea but have considerably failed to ensure that, they become equally popular in
other parts of the world. Hence, with respect to this, it can be mentioned that the primary aim of
the paper is to highlight whether the pricing of the Fashion Industry in Korea has an impact on
the overall sales and revenue of the organization at large. Hence, in order to fulfill this research
objective and to analyze whether the different pricing strategies can be effectively used in the
different companies, the paper will follow a structured format. The paper begins with an
Introduction which will then be followed by the chapter on the Literature Review. The third
chapter is the Research Methodology which lays down the basis of the research. This has been
followed by the Findings and Analysis, whereby using the Cross tab tool and the Pearson’s Chi
Test. Conclusions and recommendations based on the research will also be provided which will
help in the long term achievement of the Research questions and the Research objectives.

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Table of Contents
1. Introduction..................................................................................................................................5
1.1 Background of the research...................................................................................................5
1.2 Research problem..............................................................................................................6
1.3. Research Objectives..............................................................................................................7
1.4 Research question.............................................................................................................7
1.5 Research hypothesis..........................................................................................................8
1.6 Summary...........................................................................................................................9
2. Literature Review........................................................................................................................9
2.1 Introduction to the LR...........................................................................................................9
2.2. Marketing mix strategy.........................................................................................................9
2.3 Fashion marketing...............................................................................................................12
2.4 Pricing..................................................................................................................................12
2.4.1 Internal factors affecting the decision of price.................................................................14
2.4.2 External factors affecting the decision of pricing.............................................................14
2.5 Perception of customers regarding price and value.............................................................15
2.6. Relationship between price and demand............................................................................16
2.7. Price elasticity of demand...................................................................................................17
2.8. Limitations of the literature................................................................................................17
3. Research methodology...............................................................................................................17

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3.1 Research philosophy............................................................................................................17
3.2 Research approach...............................................................................................................18
3.3 Research design...................................................................................................................18
3.4 Data collection and Analysis...............................................................................................19
3.5 Sampling..............................................................................................................................22
3.6 Reliability and Validity........................................................................................................22
3.7 Ethical consideration...........................................................................................................22
4. Findings and Analysis................................................................................................................23
4.1 Qualitative Analysis: The Interview with three eminent personalities................................23
4.2 Quantitative Analysis...........................................................................................................25
4.2.1 Purchase of fashion wear..............................................................................................26
4.2.2 Influences on the purchasing decision..............................................................................28
4.2.3 Purchasing in stores versus purchasing online.............................................................30
4.2.4 Korean Fashion.............................................................................................................32
4.3 Cross Tab Analysis..............................................................................................................34
4.3.1 Association between purchasing decision and pricing as a factor................................34
4.3.2 Association between purchasing decision and budget..................................................35
4.3.3 Association between factors affecting purchase decision and monthly shopping spend
...............................................................................................................................................36
5. Conclusion.................................................................................................................................38

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6. Recommendations......................................................................................................................40
7. Limitations and Future Scope....................................................................................................41
8. References..................................................................................................................................42
9. Appendix....................................................................................................................................46
Interviews..................................................................................................................................46
Questionnaire.............................................................................................................................48
Cross tab Statistics.....................................................................................................................58

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1. Introduction
The pricing of a product can be considered to be of extreme importance in deciding the
fate of the product in any industry. This is because, the pricing of a product goes a long way in
deciding upon the different perceptions which a customer generally possesses about the
particular product and also acts as a representative of the product`s quality. In addition to this,
the pricing of a product is also a determinant of the different costs as incurred in the product. The
pricing of exclusive products is generally taken to be very high and in this aspect it can be
mentioned that the fashion industry is one of the most crucial industries which are required to be
analyzed in terms of the different decisions as made in the industry and the different purchases as
made by the different customers at large.
1.1 Background of the research
The Fashion industry can be stated to be one of the most innovative and imperative
businesses as present. Since the year, 1990, the industry has grown considerably and there have
been various countries which have emerged as the suitable fashion centers or points around the
globe. Korea can be stated to be one such country which has been making considerable trends
around the globe and has come up with considerable fashion trends which have become very
popular worldwide. The luxury brands in the fashion industry have become fairly popular and
with respect to this, it can be stated that the demands of the different consumers has been
increasing and with respect to this, it can be mentioned that, the different customers now wish to
purchase expensive clothing lines and invest generally in designer brands because of the
different political, economic and socio –cultural changes as present around the globe.

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The fashion industry has gone under a considerable change not only because of the socio
cultural trends which are existent or the changing choices of the people but for the different
economic reasons as well. The purchasing power of the different people in the developed
countries as well as the developing countries like Korea, India, China, Indonesia and other
Pacific countries has increased and hence, the number of people who are willing to purchase
these fashionable products have also increased.
According to Zarley and Yan (2013), the market place also forms an essential aspect and
its value is greatly determined by the different customers. Xu, Wang and Ouyang (2013) states
that, the value of a product can be a resultant of the product between the demand as made by the
different customers and the supply of the products as made by the different brands which are
present and the manner in which they tend to present their products in the different commercials.
Hence, in light of the given discussion, it can be stated that the primary aim of the research is to
analyze the different ways in which the different brands can set their pricing strategy adequately
so as to ensure that they are being able to gain the maximum response from the different
customers. In addition to this, the research aims to find out the impact of the pricing strategies on
the sales and revenue of the different brands as present in the Korean Fashion Industry. This will
be done by making use of various quantitative as well as quantitative research methods and the
review of literature as based on the same.
1.2 Research problem
The particular research problem as present in the particular paper is to understand and
review the impact on the organizations in case they are unable to follow the adequate pricing
strategies. In addition to this, the aim is also to understand the importance of the different pricing
strategies under the marketing principles. This will be centered on the fashion industry in Korea.

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1.3. Research Objectives
The different research aims as well as the objectives of undergoing the particular study
can be stated to be as follows:
1. To analyze and identify as well as understand the different pricing strategies as present by
making use of the strategies of marketing mix.
2. To overview the concepts and theories which are related to the pricing strategies which
are generally applied within the different firms at large in order to gain the right kind of
audience.
3. The third objective is to understand the manner in which the pricing strategy has a key
role to play in the determination of the success of the fashion industry especially with
reference to the Korean industry.
4. Lastly, the research paper also seeks to propose certain ways in which the fashion
industry will be able to make use of adequate pricing strategies in order to develop the
particular industry of fashion.
5. Lastly, the paper will also aim to analyze the impact of the different strategies on the
revenue and sales as made on the Korean Fashion Industry.
1.4 Research question
The research questions which will be analyzed in the particular study can be stated to be
as follows:
1 What would be the impact on the fashion industry in case the different pricing strategies
will be applied?

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2 How can the different marketing principles be used by the different organizations as
present in the fashion industry to set the right prices of their products and ensure and
effective distribution strategy by making use of the distribution channels as well.
3 How a suitable pricing strategy does has an impact on enhancement of the different
features of the product and help the firm to perform well and gain the attention of the
different customers.
4 What are the recommendations which are given to the different companies to ensure the
long development of the fashion industry?
1.5 Research hypothesis
A research hypothesis can be described as one whereby the research objective or the
question needs to be verified statistically or analytically in order to allow a verification or a
falsification. If the hypothesis can be verified or approved then, it means that the research has
showed that there does exist an evidence in support of the hypothesis and hence, further research
can be built upon the same.
Hence, the main research objective of the paper is to examine whether the different
pricing strategies have an impact on the sales and revenue of the Korean Fashion Industry.
Independent variable (x): Pricing strategies
Dependent variable (y): Sales and revenue in the fashion industry
Null Hypothesis (Ho): The pricing strategies do not have any impact on the sales and revenue in
the Korean fashion industry.
Alternative Hypothesis (H1): The pricing strategies have a strong impact on the sales and
revenue in the Korean fashion industry.

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1.6 Summary
Hence, the introduction of the paper sets the background of the research and lays down
the different aspects of the paper. The format of the paper has been provided along with the
research objectives and the research questions. In addition to this, the research problem and the
research hypothesis has also been highlighted.
2. Literature Review
2.1 Introduction to the LR
In order to gain an understanding of the Korean fashion industry and the different pricing
strategies which can be applied in an organization with respect to the marketing mix strategies, it
can be mentioned that it is crucial to gain an understanding of the different aspects of the pricing
strategies which exist in a firm and also to gain an understanding of the fashion marketing. After
this has been done, an understanding of the relationship between the pricing of the different
products and the sales and revenue of the fashion products in the Korean Fashion industry will
also be gained. In addition to this, the limitations of the review of literature along with the
analysis of the previous studies will also be done under the same.
2.2. Marketing mix strategy
According to Shen et al. (2013), marketing can be described as an action which can be
taken by the business in order to sell the products of the company or the services to the different
customers and also assists in making a particular contribution to the turnover of the firm. Hence,
it becomes considerably important for the business to understand the right kind of marketing mix
strategy which needs to be applied in the business in order to engage in the sales growth of the
firm and in order to ensure that the business is successfully able to gain a competitive positioning
in the market. The correct marketing mix of the organization comprises of the different

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components like Product, pricing and the distribution strategy which goes a long way in ensuring
the overall success of the firm at large. Each of these particular factors have their own variables
and hence, need to be defined correctly within the realm of the firm in order to ensure that the
right kind of products can be designed for the overall success of the firm at large. The firm is
required to ensure that the product which is being sold to the different customers, comprises of
certain features that speak out to the target market and it must be built upon so that the customers
can become more loyal to the firm. According to Perry and Towers (2013), the most crucial
aspect of the marketing mix strategy is the pricing strategy of the firm which needs to be defined
adequately and plays a key role in building the image of the brand in the eyes of the customer.
The pricing of a product which is decided under the marketing mix strategy also goes a long way
in deciding the brand image of the firm and the brand loyalty.
The decision of the pricing of a product can be considered to be very difficult and needs
to take into consideration a large number of factors which will then ensure that all the aspects of
the cost are all covered and that, the industrial forces are also taken into consideration. In
addition to this, the pricing strategy of the firm also needs to take into consideration the different
industrial forces as well which will then ensure that the business is successfully able to perform
well and that whether the company will be offering any discounts to the customers in order to
build their loyalty or not (Corbellini and Saviolo 2014). In addition to this, the marketing mix
comprises of the distribution aspects as well and tends to assist the business in determining the
manner in which the business is supposed to set a system which will assist it to sell the products
directly to the different consumers or does the firm want to involve a large number of middlemen
in the system which shall then enable the firm to increase its cost but form a larger chain of
consumers at the same time (Perry and Towers 2013). The costs and the pricing have to be

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adjusted adequately in order to align the marketing mix of the firm accordingly and to manage
the distribution costs of the firm as well. After the three crucial aspects of the pricing of the
product, the place and the product is decided upon then, the promotion aspect of product needs to
be designed because it tends to make use of these components and decide upon its presentation to
the designated target market. According to Caro and Martínez-de-Albéniz (2015), these aspects
of the marketing mix need to be reviewed upon considerably as they have a long term impact on
the sales and revenue of the firm at large.
Out of this, the pricing of the firm is the most critical aspect of the firm and if the
customers are provided with adequate benefits they will be able to capture a bigger share of the
market. In the fashion industry, the price of a product, helps the firms in ensuring that they are
successfully able to achieve their goals within the realm of the firm. In addition to this, the
decision making which has to be made in regard to the price of the product needs to be
coordinated with the particular design of the product and the manner in which the product will be
distributed amongst the different members who are the particular target market. According to
Choi (2016), when correct decisions in regard to the pricing are made by the different firms in
the fashion industry then the competitive advantage can be achieved and the promotional
decisions can also be taken adequately. Caro and Martínez-de-Albéniz (2015) states that a
majority of the fashion companies as present make use of various resellers and other such agents
to support their product sales and enhance the revenues of the firm, however, these efforts very
often result in the increase of the price of the product and ultimately have an impact on the
market share of the firm.
This is the reason a majority of the firms, take the pricing decision in the first place so
that they are successfully able to use the other components of the marketing mix in the correct

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manner. Caro and Martínez-de-Albéniz (2015) states that the different firms as present in the
fashion industry often make use of the target costing technique, which then assists them to design
their products accordingly and set up the different costs in a similar manner in which they would
be sold in the market. Hence, the pricing of a product should be the ultimate priority of the
fashion brands and based on this, the costs of the company need to be set accordingly.
2.3 Fashion marketing
According to Halvorsen et al. (2013), the fashion industry is extremely dynamic in nature
and this is the reason why there exists a large number of changes in the marketing techniques.
The primary reason which exists with respect to this change is the seasonality as the different
customers prefer to change their apparels in lieu of the changing seasons. Hence, as agreed by
Gabrielli, Baghi and Codeluppi (2013), fashion marketing can be stated to be the method with
the help of which the different innovative products are presented to the customers so that they
can easily make the particular purchase. De Felice and Petrillo (2013) states that the Fashion is
closely related to the different marketing activities in a close and intrinsic manner which helps to
predict the different demands as made by the different consumers and also to ensure that, the
different approaches which are adopted can be used successfully.
2.4 Pricing
The pricing can be described as the most essential strategy which is used by the different
companies in order to ensure that they are successfully able to earn a considerable amount of
return and to ensure that the business is able to gain a competitive advantage such that it is able
to attract the various customers towards them and engage in higher profit levels for the different
companies. According to Dhurup, Mafini and Dumasi (2014) the different firms generally make
use of the market skimming tactic of pricing which helps them to gain a considerable niche

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market for the firm. Moreover, the different companies in the fashion industry tend to engage
themselves in considerable strategies in order to allow themselves to penetrate in the particular
market so as to ensure considerable quality. This also ensures that the different clothes as
presented to the different customers help the brand to increase its standing in the particular
market and help the firm to ensure that the different members are successfully able to engage in
awareness for the firm. This helps to increase the particular pricing of the product and being able
to successfully identify the right target market for the firm as well.
In addition to this, the market penetration mode of pricing will allow the firm to make the
products available at a lower cost in the market and also allow them to capture the market and
allow the different customers an attractive product offer. Halvorsen et al. (2013), states that the
volume of sales of the different companies will increase in case the different prices are reduced
on a continuous basis. According to Ferreira, Lee and Simchi-Levi (2015), many firms also try
and adopt the product line pricing strategy especially with reference to the fashion industry in
Korea and assists them to account for the difference between the products and the costs which
are offered to the customers.
In addition to this, the budget pricing strategy goes a long way in assisting the different
companies to cater to all the target market segments and also allows them to add more product
lines so as to sell the product at a considerably lower price and engage in the advantages of
economies of scale. Many luxury brands, often apply the luxury style of pricing which assists in
attracting the different customers who care about the quality of the product and are closely
related to the image of the brand. These customers are generally sensitive to the changes in the
price and are largely concerned with the status associated with the brand at large. Hence, as

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understood, there are a large pricing strategies as available to the companies which can be used
by them in order to gain success in the long run.
2.4.1 Internal factors affecting the decision of price
According to Gabrielli, Baghi and Codeluppi (2013), the price of a particular product is
generally set by the company once they have decided upon the particular pricing which has to be
adopted by the firm at large. In regard to this, the choice of the target market and the brand
positioning will allow the firm to adopt the correct kind of the strategy and allow the firm to gain
success in the long run. According to Diamond, Diamond and Litt (2015), the primary strategy
as adopted by the different fashion companies is that they aim to influence the customers to
change their marketing strategy and this can only take place when the different companies are
able to set a lower price and increase their demand of a particular product style. However, it
needs to be noted that as agreed by Jung and Jin (2014), the survival becomes a short term
objective and the different companies at present need to gain an understanding on the fact that, it
is actually the value which will allow the different brands to survive in the long run. In addition
to this, even though the capture of value is considered to be very crucial , many companies tend
to adopt the maximization of profits strategy so as to ensure that the are able to gain considerable
profits at the workplace. The costs are primarily known as the most crucial factors that have an
impact on the pricing of the product. According to Kim, Jung Choo and Yoon (2013), the costs
are mostly divided into fixed costs and variable costs. The fixed costs of the company can be
considered to be those costs which the firm has to incur irrespective of the scale of operations but
on the other hand, the variable costs tend to change with the number of dales. The variable costs
can be considered to be as the cost which can be controlled so as to increase the profits of the
firm.

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2.4.2 External factors affecting the decision of pricing
According to Liu et al. (2013), in addition to the internal factors of pricing there are a
large number of factors which lie external to a firm and tend to have an impact on the overall
functioning of the pricing decision of the firm as well. The first external factor which has an
impact on the price determination is the demand of the different products which are made by the
different consumers. It can be considered to be very relevant for the different marketers to
understand the crucial relationship between the price of the product and its demand in the
external market. According to Kim, Jung Choo and Yoon (2013), the buyers generally have a
strong and influential role to play in case of the pricing of the product and in lieu of this, it can be
stated that in the fashion industry, the different labels carry different prices and this is often
associated with the quality of the clothing’s and the popularity of the brands in the market.
However, the different brands tend to communicate with the customers and develop the product
using direct means of advertisement and creativity. Lueg, Pedersen and Clemmensen (2015)
states that there has been an impact of the global market and culture on the Korean industry and
they have planned to ignore the monopolistic nature of the market as it cannot be taken up by
them. The Korean market can hence, be stated to be oligopolistic in nature in reference to the
fashion industry and it is for this reason, the customers can be stated to have a high purchasing
capacity and are generally quite sensitive to the smallest alterations which exist. As a result of
this, the different buyers often shift to another brand when they find lower prices and it is for this
reason that the different companies need to be generally sensitive towards their pricing.
2.5 Perception of customers regarding price and value
According to Okonkwo (2016), the customers can be stated to be the final decision maker
of the pricing which has been set by the firm at large. This can be stated because, the different

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perceptions of the customer have to be considered by the different firms in the fashion industry
before they can take considerable pricing decisions and set the right kind of costs. Moreover, the
different customers are highly concerned about the pricing as well and hence, with respect to the
fashion industry, the pricing needs to be considered as well because the value that a product
provides to the customer also needs to be considered while setting the price of the product
because if the customers do not get value from the predict then the brand may lose out on a
popularity.
2.6. Relationship between price and demand
As analyzed previously, the pricing strategies of the different companies are generally
affected by the demand of the particular product. .This can be better understood with the help of
the demand curve as shown. The curve reflects the purchase which the consumers are willing to
make within an estimated time period irrespective of the pricing changes which are made by the
company at large. According to Macchion et al. (2015), demand and price are generally inversely
proportional but when the product increases with respect to the supply then the demand shall fall
down and hence, price shifts from P1 to P2. This concept is known as the elastic demand. Hence,
this phenomenon causes the customer budget to shift from one brand label to the other. Once the
different Korean fashion companies are easily able to do so and analyze the curves in the right
manner then, they will be able to set h right price which makes them popular.

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2.7. Price elasticity of demand
The different fashion brands will also be required to study the elasticity of price in the
right manner so that they are successfully able to understand he demands as made by the
customers in the Korean industry. Like stated earlier, once the price will shift from P1 to P2 then
the Quantity also sifts from Q1 to Q2 which is price inelasticity. This then affects the fashion
brands in the wrong manner as the elasticity nature of the price reduces in lowering the prices of
the products and hence, impact their profit making ability. Only companies with lower cost of
production can engage in this.
2.8. Limitations of the literature
The review of the literature has covered various topics relevant to the study like the
Pricing strategies, marketing mix and the demand made by the consumers. Although it has been
aimed that a comprehensive research is presented in the paper, there exists various limitations to
the literature in the particular paper. Firstly, for the review, only sources like journals and the
articles could be analyzed which are often biased in nature and the review does not involve the

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analysis of real time news and other such data. Moreover, as the time frame was limited, only a
few journals and articles could be reviewed.
3. Research methodology
3.1 Research philosophy
The research philosophy generally defines the reason why the particular research is
undertaken. It comprises of the different beliefs which are required to exist about the nature of
data to be collected. The research philosophies which will be followed in the given paper is the
Post Positivism Approach. With the Post Positivism approach, the author of the paper aims to
adopt a mixed design approach which will go a long way in gaining adequate knowledge about
the particular impact of the different pricing strategies on the sales and revenue of the fashion
industry as present in Korea. Hence, as the post positivism approach is being followed both the
qualitative and quantitative data will be used (Kumar and Phrommathed 2005). Through this, the
author aims to find whether the pricing and sales in the Korean Fashion industry are connected to
one another with a proof of statistical data and also use methods like interviews and reviews to
understand whether the past literature and the opinion of the people can be taken in support of
the research topic or not. Hence, in line of the research philosophy, the research will use the
Cross tab analysis of the data obtained from the different respondents of the Korean Fashion
Industry in order to analyze whether the pricing has an impact on the sales or not and conduct
interviews of various customers to understand whether theory or literature supports the statement
or not and what is the real market scenario (Kothari 2004).
3.2 Research approach
Hence, as stated earlier, as the post positivism research will be followed at large, the
research approach which is being adopted is the deductive research approach. The Deductive

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research approach is based on aims and testing theory which usually begins with a hypothesis
and the general emphasis lies on the causality (Newman and Benz 1998). Hence, the study can
be stated to be more inclined towards the quantitative approach and a bit less inclined towards
the qualitative approach.
3.3 Research design
A research design can be described as the set of methods and procedures which will be
used to collect and analyze the different measures as specified in the research problem (Peffers et
al. 2007). The study type which has been adopted for the particular research can be stated to be
the correlational in nature which seeks to find the impact of pricing strategies on the sales and
revenue of the fashion industry in Korea. The hypothesis method to identify and analyze the
research problem will be used and the hypothesis can be stated to be as follows:
Independent variable (x): Pricing strategies
Dependent variable (y): Sales and revenue in the fashion industry
Null Hypothesis (Ho): The pricing strategies do not have any impact on the sales and revenue in
the Korean fashion industry.
Alternative Hypothesis (H1): The pricing strategies have a strong impact on the sales and
revenue in the Korean fashion industry.
In addition to this, the data collection method which shall be adopted can be stated to be
the Questionnaire method whereby the researcher aims to reach out to the different Universities
or shopping malls in Singapore in order to collect a survey and attain at least 100 responses. This
sample would be a mixed sample. The questionnaire will comprise of 30 questions and concern
about the Korean fashion and pricing philosophies. It will also comprise of questions like age,

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gender, fashion style or the expenses. After this, the data which has been collected will be
combined and will be used for answering the research questions.
3.4 Data collection and Analysis
The research procedure is relied on a mixed method approach with respect to both the
collection of the data as well as the analysis of the data. In the collection of the data both
qualitative as well as the quantitative approaches will be applied to gain the answer to the given
research question (Koul 2009). The qualitative approach which has been planned to be applied is
the method of research of articles and interviews of industry experts as involved in the same
field. On the other hand, the quantitative method which will be made use of will be the random
sampling techniques, questionnaires and the responses attained through the different interviews
as conducted. In order to keep the focus on the Korean market, the focus of the research will
largely lie on the individuals from Korea, however, it needs to be understood that such a niche
target market is not possible to capture and hence, the different interviews can be held by taking
into consideration the other similar population as available which will be the Vietnam, China,
Singapore, Indonesia, Malaysia and others. The respondents will be limited to these few
countries. These respondents will be asked about their knowledge of the Korean Fashion and the
different pricing techniques which are largely available in the market. The interviews using the
questionnaire will be conducted at shopping malls, universities, restaurants and others.
A total of 100 participants will be chosen which shall present a fairly accurate population.
This random sampling has been chosen for consideration because it tends to present a fair image
of the entire population. With respect to this, although there exists various constraints of time
and resources, it will be difficult to expand the geographical regions of the research and hence,
certain selected premises can be chosen in order to ensure that the researcher gains the necessary

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data and information and he is successfully able to gain success in the long run. Additionally, the
sampling may challenge the researcher with respect to the geographical distances with special
respect to the movement involved in the particular research procedure (Keeves 1997).
After the researcher is able to be present at the selected geographical locations, the
individuals which have been selected will be given the questionnaire which will be required to be
filled by the individuals over a period of one week. Moreover, the individuals who are located in
a far geographical location will be sent the email in order to minimize the cost of travel as well
as to reduce the time taken in travelling. The questions shall be structured in a manner such that
the fashion scenario of the Korean industry can be well understood and along with this, the
pricing as a factor with respect to the purchases will also be understood. A total of 100
participants will be selected for the questionnaire. For the qualitative analysis, three major
eminent personalities will be interviewed and their response to the question will be used
adequately in order to answer the research questions. The methods of the data collection have
been selected because they uplift the reliability of the data which has been obtained (Mackey and
Gass 2015). In addition to this, it also needs to be understood that they will lead to precision in
line with the information which will be obtained at large. The survey will involve 30 questions
and structured around obtaining the best information as available.
The questions have been centered on the Korean fashion. The data then obtained will be
used to answer the research questions adequately in order to ensure success with the research
objectives. The qualitative approach will consider the answers as given by the different
specialists and will involve the review of literature and research papers by eminent authors as
involved in the same field. The materials which will be collected will provide a boost to the
information as obtained from the particular collection of data and help to develop arguments

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which shall solve the research problem in hand. In lieu of this, the arguments will be arranged
consistently, in alignment with the data collection which will be done. The data shall also be
presented using graphs, tables and charts (Taylor, Bogdan and DeVault 2015). The information
shall be attained through interviews and the questionnaire with and they will provide consistency
in the paper and in the responses as well. In this manner, the different responses as achieved shall
be tabulated and the maximum opinion shall be presented. The numerical comparisons along
with the statistical presentations shall be used to provide the analysis, and a conclusion will be
arrived at with respect to the same. The given medium has been chosen as it helps to present a
visual presentation of the data which is collected and this then makes it easy to interpret as well
as understand. The entire method can be stated to be comparatively cheap, reliable and fast.
3.5 Sampling
As stated previously the survey will be present for around a 30 question survey based on
which the research would be asking the questions to around a sample size of 100 individuals.
The sample size will belong to different countries of origin and with respect to this, it can be
mentioned that this acts as a fairly accurate description of the target market which can be used to
ensure long term success of the research objectives (Lewis 2015).
3.6 Reliability and Validity
The data which has been collected can be considered be very reliable in nature as it will
be collected live from the different customers as present. Moreover as a sample size of 100 will
be belonging to the different countries of origin like the Vietnam, Malaysia, China, Korea and
others. This will help in gaining knowledge about the overall generational views and ensure
success with achieving the completion of the Research Objectives (Silverman 2016).

23RESEARCH PAPER
3.7 Ethical consideration
The research procedure will be following a strict guidance of the ethical requirements and
will be ensuring that the personal space and the rights if the participants was held at the utmost
importance. The information which had been gathered from the different researchers will be used
for the sole purpose of ensuring that the research objectives are met with. The identity of the
different participants are also kept private and their names and the age will not be revealed
without the permission of the participants (Flick 2015). In addition to this, the data collection
process will also be carried out in an appropriate manner and in locations where the participants
will be asked about their consent and in addition to this, the procedure of sampling which will be
carried out shall also be fair whereby the participants will not be hindered by the different
barriers of gender, class, academic qualifications or income.
4. Findings and Analysis
4.1 Qualitative Analysis: The Interview with three eminent personalities
As per the interview conducted of the three different eminent personalities, it can be
largely understood that, pricing can be considered to be a critical factor as present in the
particular fashion industry. The fashion industry has a series of items available which can be
stated to be similar in design and made of the upfront quality as well. In this aspect it can be
understood that, price seems to have an important relationship with the purchase of the item and
the different eminent individuals believe that, in order to engage in long term success, it becomes
considerably crucial for the different companies to price adequately and ensure larger sales.
Moreover, although these people with whom the interview was conducted from, belonged to
countries like Singapore and China, not much was known to them about the Korean Fashion
except for the fact that, the products are very stylish and they are of good quality. According to

24RESEARCH PAPER
one of the individuals, `` In today`s scenario, people prefer wearing designer clothes which will
help them to become stylish and popular. The influencer concept has emerged and has, the
different fashion companies are coming up with trendy clothes. The technology has emerged
considerably and lead to a change in the fashion aspect as well. Hence, Korean industry is
known for its design. ``. On the other hand, another expert stated that ` `The Korean Fashion
industry is one of the most popular industries whereby the accessories and shoes as available
are of the utmost importance. In this manner, the organization is able to ensure utmost
popularities and the different companies as present in the industry, have been growing
considerably. ``. This individual seemed to have a considerably good idea about the Korean
fashion industry and commented on the growth of the industry in the long run. In addition to this,
an expert believes that `` I have not heard much about the industry and believe that it is a good
industry and many companies are there which provide good quality products which not only
assists in ensuring that one is updated with the latest fashion but also assist in ensuring a
good price.``. Hence, the image of the industry in the eyes of the different customers can be
stated to be fairly good in nature.
In addition to this, as per the pricing strategy, it can be mentioned that, the reason, why
the products can be considered to be so popular is because they are extremely stylish in nature.
One expert stated that, `` the reasons why the demand is high is because many people are busy
now, so online stores provide trendy but cheap clothes. Koreans are also very fashionable and
hence, the clothes are quite popular. `` In the same aspect, another expert stated that the primary
reason why the products of the Korean Industry can be stated to be fairly popular is because,
``the main reason behind the high demand of the company, is the trendy fashionwear and the
low prices. As the pricing of the products has been done moderately, it becomes easier for the

25RESEARCH PAPER
people to purchase. ``. When asked about the pricing of the products and the importance of the
pricing, it could be understood that, the pricing forms a critical part of the organizations and
forms a crucial purchasing factors as well. All the individuals agreed to it that the pricing can be
considered to be very important and stated that, `` Yes, it determines the purchasing power of
the product and forms an important criteria for the decision making which has to be taken on
a daily basis.``. Other mentioned that, `` Yes for those who have value for goods, pricing can be
considered to be an important factor. ``
Lastly, when they were asked about the different pricing strategies, the experts were
under a belief that the organizations as present in the Korean fashion industry will be required to
apply the different types of pricing strategies and specifically the differentiated pricing strategy
and the skimming strategy which will ensure that the companies will be able to successfully
maintain their positioning in the market and ensure success in the long run. The experts have had
the following comments on the same, `` The best pricing policies which may be made use of is
the differentiating pricing strategy whereby the different companies may price differently with
respect to the product purchase``, `` The best pricing policies which may be made use of is the
differentiating pricing strategy whereby the different companies may price differently with
respect to the product purchase. ``.
4.2 Quantitative Analysis
The survey which involved a total of 100 respondents can be stated to have the following
dimensions. Around 53% of the respondents were female and 38% were male. The remaining
individuals preferred not to state their Gender.

26RESEARCH PAPER
Figure 1: The Gender division of the sample
In addition to this, it can also be stated that around 57% of the candidates belonged to the
age bracket of 26-45 which can be stated to be a fairly younger set of the population who are
larger experienced and share a good knowledge of fashion and trends. The population tended to
belong from different countries like Malaysia, Indonesia, Singapore, China and others. However,
around 36% of the population belonged to Singapore and the rest belong to the other countries.

27RESEARCH PAPER
Figure 2: The division of the country of the respondents
4.2.1 Purchase of fashion wear
As per the analysis, around 32% of the population tends to engage in the purchase of
fashion wear very often and around 33% of the population purchases the fashion items quite
often.
Figure 3: The likelihood of the respondents making a fashion purchase
On being asked about the percentage of their income which the different individuals tend to
spend on their fashion purchases, it can be mentioned that, around 59% of the populations spends
around $100-$500 which is the most common amount spent on the purchase of the fashion
clothes and other accessories.

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Figure 4: The money spent on the fashion purchase
In addition to this, when the respondents were asked about the fact whether they like to
purchase and shop during the sales and promotional activities, it was understood that around
59% of the populations likes to purchase during the sales and promotion and in this manner they
prefer to save their money based on the same.
4.2.2 Influences on the purchasing decision
Whenever, a consumer decides to make a fashion decision, the individual will be required
to ensure that he is successfully able to look out for the different factors which have an impact on
the purchasing and suffice them. Hence, this section will look into the different information
having an impact on the different individuals and their fashion success which will ensure that the
different companies are able to ensure long term success.

29RESEARCH PAPER
Figure 4: Influence of friends on purchase decision
According to the interview conducted and from the given data as collected it could be
understood that that around 43% of the individuals are greatly influenced by the review of a
friend whereby others are not so likely to make their purchasing decision on their friends advice.
In addition to this, when asked about the different features of the product like the pricing, the
style of the product, or the quality, the responses of the different individuals was tilted towards
the pricing of the product. The particular fact identifies that the pricing of a product forms a
major component of the product and in order to ensure long term success with respect to this, the
different companies will be required to understand that if they are able to adjust the pricing of the
product in a consistent manner, they will be successfully able to gain a competitive edge because
the price has a positive relationship with the demand as made by the different consumers. From
the given image, it can be largely understood that, around 71% of the respondents are greatly

30RESEARCH PAPER
influenced by the pricing of the product and around 39%are influenced by the style as well.
Moreover, around 28% of the respondents share the belief that quality comprises a major share
of the purchasing decision which is required to be made by the different consumers.
Figure 5: The factors affecting purchase and sales
In addition to this, when the different respondents were asked about the fact whether the
pricing acts as a crucial factor which has an impact on their pricing decision which is generally
made, then in lieu of this it can be understood that, around 64% of the population gave an
affirmative response and stated that according to them the pricing forms a very crucial aspect of
their purchasing decision and with respect to this, it can be understood that the pricing does have
an impact on the demand of the consumer.
4.2.3 Purchasing in stores versus purchasing online
The e-commerce trends have soared up and at present the different consumers have been
purchasing more goods offline rather than buying the different goods as available online. In
addition to this, the respondents were asked about the different e-commerce trends and the

31RESEARCH PAPER
following could be gathered from their response. Around 67% of the respondents prefer buying
the goods online rather than visiting the stores and purchasing the goods from there. In addition
to this, it can also be mentioned that the different individuals also believe in searching the prices
of the different products online before making their purchase as it goes a long way in assisting
the different individuals to ensure long term success as it helps them to make the right
purchasing decision. In this aspect, around 66% of the respondents believe that they can make
the price comparison online whereas the rest believe that, they can just check the price and
purchase at the stores.
Figure 6: Physical marketplace preference of the respondents

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Figure 7:Respondents and their research preferences
Moreover, when the respondents were asked about the possibility of being influenced by
the pricing as available on the internet of their products, the respondents stated that, around 36%
of them believed that, they get influenced by the prices as available online and then make their
purchasing decision was based on the same.
The respondents were also asked about the fact whether the would like to make the cheap
purchases online or would they like to purchase the expensive items in stores, around 57% of the
population stated that they prefer buying cheap goods online because price matters to them.
Hence, even this aspect can be used for the conclusion that the price of a product forms a crucial
factor.
4.2.4 Korean Fashion
As the study is largely based on the Korean fashion trends and related pricing strategies,
the respondents were asked various questions about the Korean Fashion industry and their
responses over the same can be analyzed as follows. When the respondents were asked about

33RESEARCH PAPER
how likely would they like to purchase a Korean Fashion product they answered that, 24% of the
populations was very likely to purchase a fashion brand whereby the rest 40% of the respondents
were likely to purchase one. Overall it can be stated that they showed a positive response
towards the purchase of the product.
Figure 8:Liklihood to purchase a Korean brand
In addition to this, the study also aimed to ask the respondents about the pricing of the
Korean Fashion brand and in lieu of this, the respondents answered that, around 54% of the
respondents found the pricing of the Korean products to be correct and would likely purchase
one. In addition to the above questions, the respondents were also asked about the purchasing
limit and the luxury to purchase a branded item whereby it was understood that, the different
respondents generally preferred to purchase cheaper clothes and liked to ensure that they went
with the generic items rather than going for the branded ones.

34RESEARCH PAPER
4.3 Cross Tab Analysis
The Cross Tab analysis can be rightfully defined as a statistical analysis which is majorly
used to break down the categorical variables and find the association between the two. In
addition to this, the Pearson`s Chi Square test helps in understanding whether the results which
have been achieved in the Cross tab are significant in nature or not. Hence, it is used to find
whether the different variables are independent or not and whether there exists a correlation
between the different categorical variables or not.
4.3.1 Association between purchasing decision and pricing as a factor
Chi-Square Tests
Value df
Asymptotic
Significance
(2-sided)
Pearson Chi-Square 201.286a 64 .000
Likelihood Ratio 129.004 64 .000
N of Valid Cases 104
a. 81 cells (95.3%) have expected count less than 5. The
minimum expected count is .06.
The output of the association and the significance level shoes that the Asymp. Sig is less
than 0.05. If the Asymp Sig is less than 0.05 then the residuals tend to differ as a function of the
independent variable which exist. Hence, in this case it can be understood that the chi square is
significant as the sig is less than  = 0.05 and hence, the null hypothesis has to be rejected
and hence, there exists a strong relationship between the two variables.

35RESEARCH PAPER
Symmetric Measures
Value
Approximate
Significance
Nominal by
Nominal
Phi 1.391 .000
Cramer's V .696 .000
N of Valid Cases 104
c. Correlation statistics are available for numeric data only.
4.3.2 Association between purchasing decision and budget
Chi-Square Tests
Value df
Asymptotic
Significance
(2-sided)
Pearson Chi-Square 275.319a 96 .000
Likelihood Ratio 96.467 96 .467
N of Valid Cases 104
a. 114 cells (95.8%) have expected count less than 5. The
minimum expected count is .01.
With respect to the association between the purchase decision and the budget it can be
understood that the Asymp. Sig is more than the usual 0.05. If the Asymp. Sig was less than 0.05
then, the residual would have been stated to function as an independent variable. However, in

36RESEARCH PAPER
this case it can be stated that the chi square is not significant and that there is no relationship
between the two variables.
Symmetric Measuresc
Value
Approximate
Significance
Nominal by Nominal Phi 1.627 .000
Cramer's V .664 .000
N of Valid Cases 104
c. Correlation statistics are available for numeric data only.
4.3.3 Association between factors affecting purchase decision and monthly shopping spend
Chi-Square Tests
Value df
Asymptotic
Significance
(2-sided)
Pearson Chi-Square 369.98
9a
144 .000
Likelihood Ratio 88.589 144 1.000
N of Valid Cases 104

37RESEARCH PAPER
a. 165 cells (97.1%) have expected count less than 5. The
minimum expected count is .01.
In the given scenario, the Asymp. Sig can be stated to be quite more than 0.05 and hence,
there does not exist any relationship between the two components at large.
Symmetric Measuresc
Value
Approximate
Significance
Nominal by
Nominal
Phi 1.886 .000
Cramer's V .629 .000
N of Valid Cases
104
c. Correlation statistics are available for numeric data only.
From the given, it could be understood that, there exists a strong correlation between the
Purchasing decision which can be stated to be the demand of the product and the pricing of the
product. For this reason, it becomes critically important for the different companies to take
adequate decisions with respect to the same. Hence, the Research Hypothesis (H1) will be
accepted as there exists an impact of pricing on the sales of the Fashion Industry in Korea which
was arrived at after understanding the data obtained from the sample.

38RESEARCH PAPER
5. Conclusion
Therefore, from the given analysis it can be stated that, the pricing tends to play a greater
role in the field of the sales and demand in any industry. This is because, the pricing aspect can
be considered as an important aspect and an important factor which has an impact on the
decision making of any customer who will make a choice in the purchase of their fashion wear.
The primary research aims of the given paper was to understand the impact of Pricing on the
demand and sales as made in the Fashion industry. From this, it could be largely understood that
whether the different companies could apply different types of pricing strategies and how
successful would they be in applying those specific strategies which are available to them and go
a long way in assisting them to engage in long term success. The paper aimed to understand the
different trends of the Korean Fashion Industry which would go a long way in ensuring that, the
dynamics of the particular industry are well understood and in addition to this, the different
pricing factors as present are also understood at large. The paper began with a brief introduction
which set the background of the research and laid down the scope for the research. This was
followed by the research objectives and the research questions which have been provided.
This formulated the first chapter of the paper which presented the overall aims of the
research. The second chapter of the paper presented the review of literature done in this regard, it
can be understood that various previous authors and experts have often studied on the different
pricing strategies as present and in this manner, they have been successfully able to derive a
strong relationship between the pricing and the sales of the companies in the fashion industry. In
addition to this, after analyzing the different pricing strategies as well as their importance with
respect to the same, a contextual relationship could be build up between the pricing and the sales.
The third chapter of the paper began to present the methodology which would be adopted for the

39RESEARCH PAPER
research and laid down the mixed research approach of the paper. The research methodology
section laid down the procedures were applied by the researcher in the overall achievement of
the different objectives of the paper and laid down the structure followed. From the section, it
could be understood that, a questionnaire was formulated with 30 questions and each question
asked the respondent about his concept of pricing, the impact of pricing in his demand from the
company and the respect sales which take place.
Moreover, interviews which have been collected from the different experts of the
industry have also be analyzed under the quantitative sections. The fourth chapter of the paper,
presented the findings and analysis, with respect to which it can be understood that, the answers
received from the questionnaire were assimilated and analyzed using graphs and statistical and
some astounding facts could be understood which included the understanding that the pricing
forms a crucial aspect of the purchasing decision as taken by the different customers at large. In
addition to this, the statistical tool of Cross tab analysis was used to derive the association
between the different purchasing decisions of the firm and the manner in which it affects pricing
so as to have an overall impact on the sales and profitability of the firm. Hence, from the given ,
it can be rightfully understood that, the pricing of the product does have a strong impact on the
sales and the profitability of the fashion industry as the customers of the different companies are
greatly influenced by the pricing factor and tend to make their purchasing decision based on the
pricing of the product.
Secondly, it can be understood from the Qualitative analysis that the differentiated
pricing strategy may be considered to be a good strategy which may be adopted by the firm in
order to gain success in the long run. Moreover, the firms can apply the different strategies in
order to understand whether the firm will be successfully able to grab the correct target audience

40RESEARCH PAPER
or not. Moreover, it was also understood that that the respondent audience could be stated to
have a value for money and in this aspect it could it can be analyzed that if the pricing of the
product is found correct by the target audience they tend to engage in the purchase. From the
Cross tab analysis, a positive correlation could be derived between the pricing policy of the firm
and the demand of the customers which thereby fulfills the objective of the study. The following
section will be presenting certain recommendations which can be made use of in order to ensure
success for the Fashion companies in Korea.
6. Recommendations
Hence, after analyzing the current market condition in Korea and after analyzing the
response of the different respondents the following recommendations are being provided in order
to ensure success.
1. Following differentiated pricing
According to the experts, it can be considered very relevant for the different
organizations as present in the Fashion industry, to adopt the differentiated pricing policy. As the
different products which are largely offered to the different customers belong to the same
category, in order to gain a competitive edge it is important that the different marketers practice a
pricing strategy which is comparatively very unique and tends to assist the firm in gaining long
term success.
2. Offering the right blend of pricing and quality
Although pricing forms a critical aspect of the consumer decision and may form a
relevant part of the decision which is made by the different organizations, it might be considered
very crucial to understand that along with the pricing, providing quality to the different

41RESEARCH PAPER
customers is also considered to be important and in order to ensure that the sales of the company
increases, the quality products are provided to the different customers which will ensure that
they will be encouraged to make the purchase.
3. Ensuring e-commerce domains
In addition to this, the different members of the Korean Fashion Industry would be
required to engage in the e-commerce selling portal with respect to which they can become
increasingly popular. In this aspect, once the different companies as present in the Korean
Fashion Industry are able to make their presence, they will be able to ensure long term success.
4. Up to date designs due to emergence of the internet
Lastly, as the internet and digitalization has become a very popular domain, and with
respect to this, the Korean Fashion companies can take considerable measures to ensure that they
are successfully able to adapt to the latest fashion or not and in addition to this, they can become
internationally popular.
7. Limitations and Future Scope
The primary limitations of the paper is that, the data which was collected from the
different respondents cannot be considered to be quite consistent in nature. In this aspect, it can
be rightfully stated that, as the data which was collected was very limited in nature, only the
association could be found between the Pricing and the sales in the Korean Fashion industry,
however, the degree of association could not be figured out. With respect to this, it can be
mentioned that, the future studies as based on the similar topic and domain should look out the
consideration but instead aim to find the degree of association which exists between the Pricing
of a Product and the Sales or Revenue earned in the Fashion industry.

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8. References
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9. Appendix
Interviews
Individual 1: Prof. S. Jonas, Fashion Expert
What do you know about the Korean fashion industry?
In today`s scenario, people prefer wearing designer clothes which will help them to
become stylish and popular. The influencer concept has emerged and has, the different fashion
companies are coming up with trendy clothes. The technology has emerged considerably and
lead to a change in the fashion aspect as well. Hence, Korean industry is known for its design.
What according to you is the main factor behind the demand in the industry?
The reasons why the demand is high is because many people are busy now, so online
stores provide trendy but cheap clothes. Koreans are also very fashionable and hence, the clothes
are quite popular.
Is pricing an important factor?
Yes, it determines the purchasing power of the product and forms an important criteria
for the decision making which has to be taken on a daily basis.
Which is the best pricing policies which can be used?
The pricing policies which can be used by the different fashion companies can be defined
as the price skimming strategy which would then go a long way in assisting the different
individuals to ensure success in the long run and become fairly popular in nature.
Individual 2: Ms. J. Keith Economics Professor

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What do you know about the Korean fashion industry?
The Korean Fashion industry is one of the most popular industries whereby the
accessories and shoes as available are of the utmost importance. In this manner, the organization
is able to ensure utmost popularities and the different companies as present in the industry, have
been growing considerably.
What according to you is the main factor behind the demand in the industry?
The main reason behind the high demand of the company, is the trendy fashionwear and
the low prices. As the pricing of the products has been done moderately, it becomes easier for the
people to purchase.
Is pricing an important factor?
Yes for those who have value for goods, pricing can be considered to be an important factor.
Which is the best pricing policies which can be used?
The best pricing policies which may be made use of is the differentiating pricing strategy
whereby the different companies may price differently with respect to the product purchase.
Individual 3: Mrs. S. Khan, Anchor
What do you know about the Korean fashion industry?
I have not heard much about the industry and believe that it is a good industry and many
companies are there which provide good quality products which not only assist in ensuring that
one is updated with the latest fashion but also assist in ensuring a good price.
What according to you is the main factor behind the demand in the industry?

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The main factor is the good quality and good prices. In this manner, the different
customers are successfully able to enjoy continuous sales and promotional offers which also
induce the customers.
Is pricing an important factor?
Yes for those who have value for goods, pricing can be considered to be an important factor.
Which is the best pricing policies which can be used?
The best pricing policies which may be made use of is the differentiating pricing strategy
whereby the different companies may price differently with respect to the product purchase.
Questionnaire
1. Gender
Male
Female
2. Occupation
Professional
student
Business
Others

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Question Title
3. Age
18-25
26-45
46 and above
Question Title
4. Fashion Style preferred
Question Title
5. Country of Origin
Korea
Singapore
Vietnam
China
Indonesia
Malaysia

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Other (please specify)
Question Title
6. How often do you shop for fashion wear?
Very often
often
Neutral
Not so often
Never
Question Title
7. How often do you shop online
Not so often
Often
Regulalry
Never
Always

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Question Title
8. How much do you spend monthly on shopping of fashionwear?
$100-$500
$500-1000
others
Question Title
9. Do you like to shop during sales and promotions?
Yes
No
Question Title
10. Do you prefer branded clothes or generic clothes?
Branded
Generic
Question Title
11. What is your opinion on luxury brands?

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Question Title
12. Do you make purchases based on occasions?
Very often
often
Neutral
Not so often
never
Question Title
13. How often do you buy fashion items based on a friend`s advise?
Very often
often
Never
Not so often
others
Question Title
14. How likely will you purchase expensive fashion wear?

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Very likely
Likely
Neither likely nor unlikely
Unlikely
Very unlikely
Question Title
15. How long do you take to make a purchasing decision?
A long time
Long time
Very short time
Not so long
Question Title
16. What is your ideal budget for shopping in one instance?
$100 and below
$100-$500
$500- $800

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higher
Question Title
17. What do you know about Korean fashion
Question Title
18. How likely would you purchase a Korean brand?
Likely Very Likely Not so likely Unlikely Neutral
Likely Very Likely Not so likely Unlikely Neutral
Question Title
19. Do you find the pricing of Korean Fashion all right?
Yes
No
Question Title
20. Which factors purchase your purchase decision?
price
quality

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durability
style
brand name
Other (please specify)
Question Title
21. How crucial is the price factor for you?
Very crucial
Crucial
Not so crucial
Does not matter
Neither
Question Title
22. Do you prefer buying in stores or online?
In stores
online

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Question Title
23. What are some of the usual fashion items you purchase?
Question Title
24. Do you research for the price of the product online?
Yes
No
Question Title
25. How likely are you influenced by the information on the items available on the internet?
Very likely
Likely
Somewhat likely
Neither likely nor unlikely
Somewhat unlikely
Unlikely
Very unlikely

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Question Title
26. Would you rather shop online for a cheap price or experience the store at a higher product
price?
Cheap online
Expensive purchasing at a store
Question Title
27. Do you think the price difference in stores and online is fine?
Yes
No
Question Title
28. What are the advantages and disadvantages of purchasing online?
Question Title
29. Are you ready to pay a high price for a good brand?
Yes
No

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Question Title
30. Any advice for the Korean fashion industry?
Cross tab Statistics
Warnings
CORR statistics are available for numeric data only.
CORR statistics are available for numeric data only.
CORR statistics are available for numeric data only.
Case Processing Summary
Cases
Valid Missing Total
N Percent N Percent N Percent
Whatfactorsimpactyourpurch
asedecision *
Howcrucialisthepricefactorfor
you
104 100.0% 0 0.0% 104 100.0%
Whatfactorsimpactyourpurch
asedecision *
Whatisyouridealbudgetforsho
ppinginoneinstance
104 100.0% 0 0.0% 104 100.0%

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Whatfactorsimpactyourpurch
asedecision *
Howmuchdoyouspendmonthl
yonshoppingoffashionwear
104 100.0% 0 0.0% 104 100.0%
Whatfactorsimpactyourpurchasedecision *
Howcrucialisthepricefactorforyou
Crosstab
Count
Howcrucialisthepricefactorforyou
Crucial Does not matter
Whatfactorsimpactyourpurch
asedecision
6 0 0
Brand name 0 1 1
Don't know 0 0 0
Durability 0 3 1
Price 0 3 2
Price;Brand name 0 0 0
Price;Durability 0 0 0

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Price;Quality 0 1 0
Price;Style 0 0 0
Price;Style;Durability;Brand
name
0 1 0
Price;Style;Quality 0 2 0
Price;Style;Quality;Durability 0 1 0
Price;Style;Quality;Durability;
Brand name
0 0 0
Quality 0 2 4
Style 0 4 0
Style;Quality 0 1 0
Style;Quality;Durability;Brand
name
0 0 1
Total 6 19 9
Crosstab
Count
Howcrucialisthepricefactorforyou
Not so crucial Very crucial
Whatfactorsimpactyourpurchas
edecision
0 0 6
Brand name 0 0 2
Don't know 0 1 1
Durability 2 1 7
Price 1 25 31
Price;Brand name 0 1 1
Price;Durability 0 3 3

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Price;Quality 0 4 5
Price;Style 0 19 19
Price;Style;Durability;Brand
name
0 0 1
Price;Style;Quality 0 4 6
Price;Style;Quality;Durability 0 1 2
Price;Style;Quality;Durability;Br
and name
1 1 2
Quality 3 1 10
Style 0 1 5
Style;Quality 0 1 2
Style;Quality;Durability;Brand
name
0 0 1
Total 7 63 104
Chi-Square Tests
Value df
Asymptotic
Significance (2-
sided)
Pearson Chi-Square 201.286a 64 .000
Likelihood Ratio 129.004 64 .000
N of Valid Cases 104
a. 81 cells (95.3%) have expected count less than 5. The minimum
expected count is .06.

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Symmetric Measuresc
Value
Approximate
Significance
Nominal by Nominal Phi 1.391 .000
Cramer's V .696 .000
N of Valid Cases 104
c. Correlation statistics are available for numeric data only.
Whatfactorsimpactyourpurchasedecision *
Whatisyouridealbudgetforshoppinginoneinstance
Crosstab
Count
Whatisyouridealbudgetforshoppinginoneinsta
nce
$100 and below $100-$500

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Whatfactorsimpactyourpurch
asedecision
4 0 0
Brand name 0 0 1
Don't know 0 0 0
Durability 0 1 3
Price 0 14 11
Price;Brand name 0 1 0
Price;Durability 0 1 2
Price;Quality 0 3 1
Price;Style 0 13 6
Price;Style;Durability;Brand
name
0 1 0
Price;Style;Quality 0 2 4
Price;Style;Quality;Durability 0 1 1
Price;Style;Quality;Durability;
Brand name
0 0 0
Quality 0 2 3
Style 0 2 2
Style;Quality 0 0 1
Style;Quality;Durability;Brand
name
0 0 1
Total 4 41 36
Crosstab
Count
Whatisyouridealbudgetforshoppinginoneinstance
$20 $500-800 $5500 effective

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Whatfactorsimpactyourpurcha
sedecision
0 1 0 1
Brand name 0 1 0 0
Don't know 1 0 0 0
Durability 0 3 0 0
Price 0 6 0 0
Price;Brand name 0 0 0 0
Price;Durability 0 0 0 0
Price;Quality 0 1 0 0
Price;Style 0 0 0 0
Price;Style;Durability;Brand
name
0 0 0 0
Price;Style;Quality 0 0 0 0
Price;Style;Quality;Durability 0 0 0 0
Price;Style;Quality;Durability;
Brand name
0 1 1 0
Quality 0 5 0 0
Style 0 1 0 0
Style;Quality 0 1 0 0
Style;Quality;Durability;Brand
name
0 0 0 0
Total 1 20 1 1
Crosstab
Count
Total

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Whatfactorsimpactyourpurchasedecision 6
Brand name 2
Don't know 1
Durability 7
Price 31
Price;Brand name 1
Price;Durability 3
Price;Quality 5
Price;Style 19
Price;Style;Durability;Brand name 1
Price;Style;Quality 6
Price;Style;Quality;Durability 2
Price;Style;Quality;Durability;Brand name 2
Quality 10
Style 5
Style;Quality 2
Style;Quality;Durability;Brand name 1
Total 104
Chi-Square Tests
Value df
Asymptotic
Significance (2-
sided)

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Pearson Chi-Square 275.319a 96 .000
Likelihood Ratio 96.467 96 .467
N of Valid Cases 104
a. 114 cells (95.8%) have expected count less than 5. The minimum
expected count is .01.
Symmetric Measuresc
Value
Approximate
Significance
Nominal by Nominal Phi 1.627 .000
Cramer's V .664 .000
N of Valid Cases 104
c. Correlation statistics are available for numeric data only.
Whatfactorsimpactyourpurchasedecision *
Howmuchdoyouspendmonthlyonshoppingoffashionwear

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Crosstab
Count
Howmuchdoyouspendmonthlyonshoppingoffashionw
ear
$0.25 $100-$500 $10000
Whatfactorsimpactyourpurch
asedecision
1 0 1 0
Brand name 0 0 0 0
Don't know 0 1 0 0
Durability 0 0 5 0
Price 0 0 18 0
Price;Brand name 0 0 1 0
Price;Durability 0 0 2 0
Price;Quality 0 0 2 0
Price;Style 0 0 16 0
Price;Style;Durability;Brand
name
0 0 0 0
Price;Style;Quality 0 0 4 0
Price;Style;Quality;Durability 0 0 2 0
Price;Style;Quality;Durability;
Brand name
0 0 0 1
Quality 0 0 2 0
Style 0 0 3 0
Style;Quality 0 0 2 0

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Style;Quality;Durability;Brand
name
0 0 1 0
Total 1 1 59 1
Crosstab
Count
Howmuchdoyouspendmonthlyonshoppingoffa
shionwear
$500-$1000 2000 90
Whatfactorsimpactyourpurchase
decision
1 0 0
Brand name 2 0 0
Don't know 0 0 0
Durability 2 0 0
Price 13 0 0
Price;Brand name 0 0 0
Price;Durability 1 0 0
Price;Quality 3 0 0
Price;Style 3 0 0
Price;Style;Durability;Brand
name
0 0 1
Price;Style;Quality 2 0 0
Price;Style;Quality;Durability 0 0 0
Price;Style;Quality;Durability;Bra
nd name
1 0 0
Quality 8 0 0
Style 1 1 0

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Style;Quality 0 0 0
Style;Quality;Durability;Brand
name
0 0 0
Total 37 1 1
Crosstab
Count
Howmuchdoyouspendmonthlyonshoppingoffashionwe
ar
crucial,nline,ean
s more not
Whatfactorsimpactyourpurch
asedecision
1 1 1 6
Brand name 0 0 0 2
Don't know 0 0 0 1
Durability 0 0 0 7
Price 0 0 0 31
Price;Brand name 0 0 0 1
Price;Durability 0 0 0 3
Price;Quality 0 0 0 5
Price;Style 0 0 0 19
Price;Style;Durability;Brand
name
0 0 0 1
Price;Style;Quality 0 0 0 6
Price;Style;Quality;Durability 0 0 0 2
Price;Style;Quality;Durability
;Brand name
0 0 0 2
Quality 0 0 0 10

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Style 0 0 0 5
Style;Quality 0 0 0 2
Style;Quality;Durability;Bran
d name
0 0 0 1
Total 1 1 1 104
Chi-Square Tests
Value df
Asymptotic
Significance (2-
sided)
Pearson Chi-Square 369.989a 144 .000
Likelihood Ratio 88.589 144 1.000
N of Valid Cases 104
a. 165 cells (97.1%) have expected count less than 5. The minimum
expected count is .01.
Symmetric Measuresc
Value
Approximate
Significance
Nominal by Nominal Phi 1.886 .000
Cramer's V .629 .000
N of Valid Cases 104

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c. Correlation statistics are available for numeric data only.