Innovative Approaches' Influence on Customers’ Loyalty between Many Retail Businesses in Gabes Town, Tunisia
DOI:
https://doi.org/10.58425/ijeib.v1i1.40Keywords:
Gabes Town, Innovative Approach, Retail Business.Abstract
Purpose: This study aimed at analyzing the effect of innovative approaches and customer loyalty among retail business in Gabes Town.
Methodology: The study used descriptive research design in the collection of data. The target population was drawn from four hundred and fifty retail business in Gabes town. Through Stratified proportionate random Sampling technique a total of one hundred and thirty five respondents was obtained.
Results: Differentiation is a viable strategy for earning above average returns in a specific business because the resulting brand loyalty lowers customers’ sensitivity to price. Differentiation creates a better entry barrier. Retail business in Gabes town use focus strategy on a particular buyer group, product segment, or geographical market.
Conclusion: This study concluded that cost leadership strategy, requires a continuous search for cost reductions in all aspects of the business.
Recommendation: The study recommended that retail business in Gabes town should ensure continued capital investment to maintain cost advantage through economies of scale and market share. The study also recommended that the businesses should develop cheaper ways to produce existing products.
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