The trade between Korea and China has grown at a rapid speed and naturally the trade with China has been accounted for a great part in Korea. In other words, China is one of the major trade country in Korea nowadays. Korea has positioned so far as a s ...
The trade between Korea and China has grown at a rapid speed and naturally the trade with China has been accounted for a great part in Korea. In other words, China is one of the major trade country in Korea nowadays. Korea has positioned so far as a station using export, overseas investment and industrial structure of China, and providing intermediary goods and capital goods for China, which enables to maintain the mutually beneficial cooperative relationship between Korea and China. However, China's strong product competitiveness has been increasing constantly owing to its economic development and enhancing technological level. Thus, Chinese buyers have now less preferences toward Korean products than before and Korea's dependency is increasing toward Chinese products. A question can be propounded whether they will keep on purchasing Korean products with continuous interest when we think about the current trend. Due to these reasons, Korean exporting businesses are seeking for ways to increase their preferences and fidelity to maintain the trade connections with China.
To survive under these circumstances, it is particularly important to study about how Korean exporting businesses should secure Chinese buyers' fidelity, especially about preventing them from changing their product suppliers to other countries and also enhancing our buyer retention to strengthen the customer base through improvement of their fidelity to us, which are just crucial to maintain our market position as well as market competitiveness in the world export market including China. Accordingly, this study aims at seeking for solutions to refine the export strategies and secure not only the market share in China but also our international competitiveness comprehending factors that affect Chinese buyers' fidelity.
This study shows what strategic factors affect Chinese buyers' fidelity. In other words, this provides information on where domestic exporters should pay their attention to, who are of little know-how about the export strategies toward China, to secure the fidelity. Furtherly this study intends to provide necessary strategic implications to secure global competitiveness of Korean products.
The studies on the customer satisfaction and fidelity that have been introduced emphasize strategies on the business performance. When they are properly used to reinforce connections with buyers, the fidelity of regular trade customers with exporters will be ascended so that the trade partners will be likely to keep the connections, and also we expect that potential buyers can be secured and possibilities of trade maintenance can be enhanced. Especially, when Korean exporters build up individual strategic moves onto each Chinese buyers' characteristic, who are Korea's major target export country, for stronger competitiveness, the Chinese buyers' satisfaction will go up, and this satisfaction improvement affects the connections between the traders themselves in an amicable way, which also contributes to maintaining fidelity. Furthermore, what buyers' priorities are needs to be figured out when Korean exporters export their products as every other country has their own trade priorities. Therefore, more effective trade connections can be followed through focusing on each trade characteristic factor in differential way with the analysis shown in this study.