Ranking the Importance of Marketing Strategies in Building Client Loyalty

Abstract

The current article reviews the opinions and counterarguments within the scientific argument on the causal linkage between the components of marketing strategy and client loyalty. The systematization of the literary sources demonstrated that the causal connections from the components of marketing strategy to client loyalty are different. However, nearly none of the research projects have rated and compared the differences among the components of marketing strategies in improving client loyalty. Therefore, the key purpose of this article is to weigh the relative importance of the components of marketing strategy to client loyalty. The current research developed research hypotheses based on experiential learning theory, resource dependency theory, and social exchange theory. Vietnam was chosen as a case study because it is one of the fastest emerging economies. The research data were gathered by employing a structured questionnaire. For this research, responses from 210 enterprises were collected using the simple random sampling method from 1128 firms publicly listed on the main stock exchanges in Vietnam. Finally, this research yielded 222 suitable replies with satisfactory compulsory information. Then, this project employed the procedures of the analytic hierarchy to assess the comparative importance of the components of Product, Price, Place and Promotion of marketing strategy to client loyalty. The results show that Price strategy is first, Pricing is second, Sales promotion is third, Advertising is fourth, Allowances is fifth, Discounts is sixth, Public relations is seventh, Channels is eighth, Direct marketing is ninth, Payment terms are tenth, Features are eleventh, Quality is twelfth, Market coverage is thirteenth,Assortment is fourteenth, Branding is fifteenth, Packaging is sixteenth, Location is seventeenth, Inventory is eighteenth,Sercies is nineteenth, Warranties is twentieth, and Transport is the last in improving client loyalty. This research is expected to provide researchers with a better understanding of the comparative significance among the components of marketing strategy for client loyalty. The results of the current research can also support business executives by helping them make better decisions on suitably planning the components of Product, Price, Place and Promotion of marketing strategy in business so that they can gain the best possible efficiency.