Marine Equipment Industry is the industry which has strong relationship effect to shipbuilding industry as a backward industry. The amount orders received of ship has been the first since 2003 in Korea. But Marine Equipment Industry in Korea has too weaken international competitiveness.
Recently international competitiveness of ship building industry of underdeveloped countries is getting stronger. Especially, the biggest international competitiveness of Marine Equipment Industry in China is the low prices. Accordingly the confirmed international competitiveness of Marine Equipment Industry in Korea must be settled down without delay.
This is an exploratory research for securing an international competitiveness representing the relevance of marketing strategy in Korean Marine Equipment Industry. The period of this research is from June of 2007 to November of 2007.
The data investigating the influence of marketing orientation and business performance in marine equipment industry in Korea were collected from 224 corporations handling four different types of product categories -1) hull parts product, 2) engine machinery product, 3) deck equipments, 4) electric and electronic equipments -by the use of questionnaire method personal interview at manufacturing firms.
For analyzing the data, SPSS(Statistical Package for the Social Sciences) ver. 15.0. was used. In detail, Cronbach alpha method was used to verify the reliability in question items. ANOVA and T-test were applied to analyze the differences among the relevant variables. Also, Kendall's rank test was applied to analyze the preference order among the respondents.
The results of the study were found to be as follows:
First, The product life cycle shows a difference in financial performance but there is no relationship with marketing in Korean Marine Equipment Industry.
Second, factors of the sampled companies - main business, founding year, capital amount and a number of employee - showed a difference in both financial performance and marketing awareness and the level of marketing orientation.
Third, the higher awareness of marketing is, the higher financial performance there was.
Fourth, the higher the level of marketing orientation is, the higher financial performance there was.
Therefore, marketing orientation in Korean Marine Equipment Industry is very important factor to get a high performance in financial affairs. This research has a significant meaning for establishing a marketing strategy of Korean Marine Equipment Industry.
The study shows some managerial implications as follows:
Previous researches of Korean Marine Equipment Industry relating to this study are insufficient. The researches against Korean Marine Equipment Industry need to focus on the level of individual firm's dimension and will do. The study shows that there is a strong needs to develop international marketing strategy in Korean Marine Equipment Industry.
Most of all hypothesis was proved significantly and statistically. It was given proof for Korean Marine Equipment Industry to implement marketing investment and marketing management. The continued cooperation and the effort will be necessary for marketing activity of manufacturers in Korean Marine Equipment Industry.
In order to enhance marketing orientation in marine equipment industry, it appears to be imperative to establish marketing strategy designed to clear out divergences in perceptions and knowledges.