4Ps: A Strategy to Secure Customers' Loyalty via Customer Satisfaction
This paper explores the role of Marketing mix strategy and its overall positive or negative impact on customer's satisfaction and loyalty. Product, price, place and promotion variables need to be managed by understating psychological traits of customers buying nature. The literary discussion highlights that customer expectations with regards to product quality, price, and product accessibility are managed by communication techniques using advertising agents. The discussion proceeds in analytical style using previous theory as base point to evaluate the role of marketing mix in relation with customer satisfaction turning into loyalty. Inductive data collection approach has proved a great help to extract gist of past research results. A large proportion of data has been gathered from secondary resources including journals, books and old research papers. The results show that all four aspects of marketing mix are equally important and any imbalance among them can damage overall results. Customers' buying intentions are greatly affected by his/her expectations in context of a product quality, price, and product accessibility. The relationship between customer satisfaction and loyalty depends on the elimination of perception gap, service gap, operational gap and behavioural gap that needs to be managed by giving focused attention to these matters. This paper reviews prior literature and proposes to think carefully to use marketing mix strategy to met customer expectations by eliminating any communication or perception gaps that further extend customer loyalty.