Nowadays, automobile became essentials of life over simple transport. It is a private space where people spend much time and where to express their individuality. For this reason, Korean automobile companies need to seek for strategic solutions based ...
Nowadays, automobile became essentials of life over simple transport. It is a private space where people spend much time and where to express their individuality. For this reason, Korean automobile companies need to seek for strategic solutions based on expansion strategies of leading car companies, so they will be able to survive in changing demand markets in recession. Moreover, in a situation of emerging Chinese local companies and their reinforcement of competitiveness, what Korean automobile firms need is a product development strategy of preference analysis of Chinese consumers. This is an indispensable step to succeed and achieve efficient management performance in Chinese market for Korean companies. Thus, this study compares automobile preference making factors by analysing lifestyles and their owned cars of Korean and Chinese consumers.
For this study, to examine lifestyles of Korean and Chinese consumers, an existing research on automobile preference making factors used as a base to design a survey. This survey conveyed online for 440 drivers of Korea and China, from September 25th to October 6th in 2013. To verify an empirical research, frequency analysis, factorial analysis, t-test, Oneway-ANOVA, and, as post tests, Duncan’s Multiple Range Test, correlation analysis and multiple regression analysis were implemented by SPSS 20.0.
A summary of specific results of research follows below:
First, for choosing a car, Chinese consumers put more weight on service, function and exterior than Korean.
Second, automobile preference making factors are differed by variables of social and economic factors. In Korea, a consumer group of post-graduate degree holders and unmarried people considered ‘an aesthetic factor’ as an automobile preference making factor than other consumer groups. In China, an unmarried consumer group showed a higher preference on ‘an aesthetic factor’ than others.
Third, according to an automobile preference making factor of driving and automobile related factors, a consumer group experienced a car accident thought ‘an aesthetics factor’ is more important than people who have not experienced such an accident. In case of China, compared to owners of an over 2,001cc displacement car, drivers of an under 2,000cc displacement car considered ‘an aesthetic factor’ as an automobile preference making factor more.
Fourth, with relevance to lifestyles of drivers, ‘a trend chaser’ and ‘an individuality seeker’ showed more consideration on ‘an aesthetic factor’, and ‘an accomplishment pursuer’ and ‘a safety pursuer’ on ‘service and functional factors’ and ‘an aesthetic factor’ in Korea. In China, ‘an accomplishment pursuer’ put more importance on ‘service and functional factors’, and ‘a trend chaser’, ‘a compensation seeker’ and ‘an individuality seeker’ found higher values on ‘service and functional factors’ and ‘an aesthetic factor’.
Fifth, an influence of variables related to automobile preference making factors of Korean and Chinese consumers was reviewed. In case of Korea, female consumers showed a lower preference for service and functional factors comparing to male consumers. The factors were also less important for people who pursue those lifestyles; ‘a trend chaser’ and ‘a safety pursuer’. On the other hand, when ‘an accomplishment pursuer’ and ‘an individuality seeker’ types of lifestyles are the majority, ‘an aesthetic factor’ was highly preferred. In China, for ‘housewives, students and others’ group considered service and functional factors as being important in comparison with consideration of ‘sales and service workers’. A consumer group of ‘an individuality seeker’ type of lifestyle showed a higher preference for service and functional factors and a consumer group of ‘a trend chaser’ lifestyle considered ‘an aesthetic factor’ as being more important than other factors.
As an analysis results of this study, a proposal for further research follows below:
First, since both of Korean and Chinese consumers considered functions and aesthetics as important factors when they make a decision for purchasing a car, automobile companies push forward a development project for more functional products. Moreover, a design of inside of a car and various colours should be promoted for personal preferences of consumers.
Second, China should reinforce product quality and after service, while keeping the total production high. Furthermore, China should try to benchmark fine quality of Korean products and customer service by strengthening interchange cooperation between Korea and China, so customer problem/complain reaction will be improved.
Third, when Korean automobile companies expand their business to China market, they should consider a lifestyle of Chinese consumers and develop/produce products with functionality, service, aesthetics with safety of automobiles.
Fourth, automobile sellers need to instruct to consumers about the function and instruction of automobile as specific as possible. Consumers should mainly consider price, diversity and exterior, at the same time when they evaluate its quality and function of the car when they make a decision.
Fifth, it is a trend that automobile is becoming essential goods and has a strong relation with consumer’s lifestyle. Therefore, enterprises are responsible to operate a consumer education about automobile in a dimension of a sense of social responsibility. Through this consumer education, companies will have more attentions, an improved corporate image, and also a positive influence on virtuous cycle of repurchase.
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