V. Discussion and Conclusion
3. Research Limitation
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3. Research Limitation
Yet, there are the following limitations to generalize the hypothesis of this thesis.
The first is that the number of samples that support each hypothesis is very limited. The second is that all the products that make up the sample are SMEs located in Korea. In Korea, there is a special type of corporate entrepreneur (large corporation), so different outcomes may arise in a country where the industrial environment of SMEs is different. The third is that the products that make up the sample belong to too broad an industry. Therefore, if the scope of an industry is limited to a specific industry, the results may be different. Thus, the limitation of this thesis is that the number of samples is small, all of the target companies are Korean SMEs, and the companies selected as the sample belong to a wide range of industries.
Since research results on the pricing strategy of SMEs by international innovation are very rare, this thesis can contribute theoretically and practically in this respect. For the development of this field, it is necessary to select a large number of sample companies for various countries, and also to select a specific industry, and to select and analyze the sample in the industry.
In addition to this thesis, further research is required to understand the relationship between future innovation and pricing strategy. As mentioned above, one of the purposes of the study is to grasp the appropriate pricing policy for enhancing the competitiveness of Korean SMEs in the international market. Achieving this goal requires empirical and methodological research to identify and compare pricing strategies of SMEs in neighboring countries (Taiwan, Japan etc.).
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Appendix
Questionnaire Part A and Part B
Part A
Q1. Information of Company Q1-1. Name of Company
Q1-2. Established Year
Q1-3. Business Area
Q2. Information of Interviewee Q2-1. Name:
Q2-2. Title in Business
Q2-3. Duration of Business:
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Part B
Q1. Please mark the number of your competitors which you are aware of.
0 1~3 3~6 6~9 Over 10
Q2. Please mark the scale of the similarity of your products compared with the product of your competitors.
Very
Similar Similar Neutral Different Extremely Different
1 2 3 4 5
Q3. Please mark the scale of the height of entry barriers in terms of finance.
Very Low Low Moderate High Extremely
High
1 2 3 4 5
Q4. Please mark the scale of the height of entry barriers in terms of technology.
Very Low Low Moderate High Extremely
High
1 2 3 4 5
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Q5. Are there any major change(s) in the raw materials or components, or any significant improvement(s) in the characteristics or design of the product compared with the products that your company has produced before? (Product Innovation)
None Small Moderate Big Very Big
1 2 3 4 5
Q6. Was your product developed using similar structural, technical, or design factors of any of your competitor’s product? (Product Imitation)
None Small Moderate Big Very Big
1 2 3 4 5
Q7. Was your product significantly improved through the innovation of the process including changes in techniques, equipment and/or software, or delivery method?
(Process Innovation)
None Small Moderate Big Very Big
1 2 3 4 5
Q8. In case that your answer is ‘Yes’ to any of the questions from Q5 to Q7, what was the major objective caused by the innovation?
Cost Down Neutral Value up
1 2 3 4 5
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Q9. Was your pricing strategy developed based on ‘Average Cost + Markup’?
(Cost-based Pricing)
Never Rarely Sometimes Very Often Always
1 2 3 4 5
Q10. Was your pricing strategy developed based on ‘customer’s ability to pay’?
(Value-based Pricing)
Never Rarely Sometimes Very Often Always
1 2 3 4 5
Q11. Was your pricing strategy developed based on ‘competitor’s price’?
(Competition-based Pricing)
Never Rarely Sometimes Very Often Always
1 2 3 4 5