Estimating the Price of Fanatism: A Case of Indonesian K-Pop Merchandising Market

Yayah Cheriyah; Amanda Hadi

doi:10.56532/mjbem.v3i1.27

Authors

Yayah Cheriyah Universitas Nasional Jakarta, Department of Korean Language, Faculty of Lingustic. https://orcid.org/0009-0005-3945-6800
Amanda Hadi STIKES Insan Unggul Surabaya, Department of Public Health. https://orcid.org/0009-0000-3212-8402

DOI:

https://doi.org/10.56532/mjbem.v3i1.27

Keywords:

Willingness to Pay, van westendorp, consumer research, merchandising, pricing

Abstract

There had been few prior research in Indonesia that has given insight and overview into the K-pop merchandising market landscape. However, none of them took pricing on K-pop merchandise into perspective. Thus, this article attempts to answer research inquiries about the overall K-pop product market through the role of pricing. To limit the study, only two different types of K-po signature merchandising were examined in this research namely album bundles and lightsticks. Using the Van Westendorp’s model, this study tried to find out the fans’ acceptable price range. Using self-completion online surveys, this study managed to explore both items’ acceptable price ranges. Among 200 respondents, both merchandises’ acceptable price range were clustered closely to the local e-commerce’s price range rather than its official distributor/seller website. The album bundling price range were scattered between IDR 245,000 (≈USD 15.83) to IDR 375,000 (≈USD 24.23) per bundle. Meanwhile, the lightstick was around IDR 465,000 (≈USD 30.04) – IDR 700,000 (≈USD 45.23) per item.

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Estimating the Price of Fanatism: A Case of Indonesian K-Pop Merchandising Market

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