A study on factors affecting customer’s loyalty in phu thanh investment joint stock company = nghiên cứu các nhân tố Ảnh hưởng Đến lòng trung thành của khách hàng tại công ty cổ phần Đầu tư phú thành

A study on factors affecting customer’s loyalty in Phu Thanh investment joint stock company = Nghiên cứu các nhân tố ảnh hưởng đến lòng trung thành của khách hàng tại Công ty cổ phần đầu tư Phú Thành

Rationale

Customer loyalty is built on a foundation of positive experiences and the quality of service a business offers In today's competitive landscape, where market share is increasingly sought after, the pursuit of attracting and retaining loyal customers has become more intense and dynamic.

According to a 2021 survey by Ernst & Young involving over 32,000 retail customers across the Asia Pacific, Vietnamese consumers exhibit the highest propensity to change service providers, as noted by Tran, Nguyen, and Tran (2020) This trend highlights a significant lack of loyalty among Vietnamese customers, with a staggering 65%-77% indicating their readiness to switch to competitors offering similar products In contrast, customer loyalty in countries like Australia and Japan remains relatively stable, with only 10-20% of consumers willing to change providers, while other Southeast Asian nations report around 50%.

Customers expect more than just the usual offerings from companies While many businesses prioritize acquiring new customers to boost revenue, research indicates that existing customers are actually the most reliable source of income A study reveals that 20% of a company's current customers can account for 80% of its profits (Cuong, 2020) Thus, the cornerstone of business growth lies not in attracting new clientele, but in cultivating revenue from existing customers.

To enhance business performance, companies must prioritize customer loyalty, which is cultivated through long-term relationships Retaining existing customers is significantly more cost-effective—only 1/5 to 1/7 the expense of acquiring new ones In today's challenging business environment, the rising costs of attracting new customers underscore the importance of maintaining loyalty as a crucial strategy for future growth.

Phu Thanh Investment Joint Stock Company, founded in 2008, specializes in the distribution, purchase, and sale of various confectionery beverages Since 2015, as Vietnam's economy has been growing, the demand for these products has significantly increased.

The company's customer base has evolved, with a noticeable shift from traditional confectionery products to premium options, including foreign goods like imported wine Additionally, the company has successfully expanded its market presence in Hanoi and neighboring provinces, extending its reach into central and southern regions.

As competition intensifies in the cake, beverage, and luxury goods sectors, highlighted by a 5% annual growth in similar enterprises, Phu Thanh Investment Joint Stock Company faces significant challenges The impact of the Covid-19 pandemic has further strained performance, leading to decreased customer incomes and delayed cash flows from partners, hindering the import of goods In this environment, fostering customer loyalty is crucial for maintaining stable operations and effectively competing in the market.

Therefore, the topic: " A study on factors affecting the customer’s loyalty In Phu

Thanh Investment Joint Stock Company " was selected for research.

Literature review

The novel theory on customer’s loyalty

The concept of customer loyalty, primarily developed by Parasuraman, Zeithaml, and Berry in 1988, is examined through two main perspectives: the North American and Scandinavian schools Each school offers unique methodologies for evaluating customer loyalty, highlighting the diversity in understanding this critical aspect of consumer behavior.

The Scandinavian school, established by Gronroos and further developed by researchers such as Chase and Glynn & Lehtinen, emphasizes the importance of customer focus and loyalty Understanding customer satisfaction is crucial, as loyal customers reduce the costs associated with acquiring new ones.

The principal emphasizes the importance of prioritizing customers, as delivering goods and services is unfeasible without their support Satisfied customers foster loyalty, enabling businesses to reduce costs associated with acquiring new clients.

A key contribution of this school is its definition of loyalty, which is evidenced by repeat purchases and referrals that indicate customer satisfaction with products and services (Glynn & Lehtinen, 1995) Customer satisfaction is influenced by the disparity between consumers' perceptions and their expectations This area of research examines both external and internal factors that impact customer loyalty.

External factors, particularly the service environment and the influence of surrounding individuals, significantly impact consumer needs and desires, ultimately affecting their satisfaction and loyalty This research is particularly relevant to the hospitality industry, which is uniquely focused on contextual issues (Baskerville & Wood-Harper, 1996; Gummesson, 1995).

For the internal factors, this school focuses on relationship management issues with customers, in which price and image of the business are concentrated Gronroos

(1990) argues that the price of a product or service has the greatest impact on customer’s loyalty and satisfaction He found that, in the previous period (about 1985-

In 1989, the scarcity of service led to rapidly increasing prices, resulting in lower customer satisfaction and a greater willingness to explore alternative options Furthermore, the consumption of services enhances customers' sense of appreciation, thereby elevating the organization's image This research highlights two key issues: the organization of the service delivery process, both before and after the service, and the positive impact of employees' images on customer loyalty (Chase, 2010) Additionally, Grunroos (2017) emphasizes the significance of an organization's image, as the effects—both positive and negative—of social networks present urgent challenges that need to be addressed.

This research highlights that customer loyalty is closely linked to customer satisfaction and various influencing factors Conversely, while pricing can impact customer decisions, high-quality services can mitigate this effect, leading customers to remain loyal regardless of price.

Research by Zeithaml, Berry, and Parasuraman (1996) indicates that in certain industries, particularly those involving common consumer goods, external factors may have minimal impact on customers Despite this, the insights from this research have played a crucial role in shaping modern marketing strategies Influential authors like Kotler (2003) and Keller and Brexendorf (2019) have built upon these findings to enhance brand image, pricing strategies, and product policies, ultimately contributing to the development of effective marketing mixes across various sectors.

The most extensively researched framework in customer satisfaction is rooted in models such as SERVQUAL (Parasuraman et al., 1988) and SERVPERF (Cronin Jr & Taylor, 1992), along with various subsequent models (Lewis & Mitchell, 1990; Zeithaml et al., 1996) These studies emphasize a customer-centric approach, focusing on measuring satisfaction and loyalty through the gap between customer expectations and perceived value This framework directly addresses the challenges businesses face in serving customers, highlighting key impact factors including tangibles, reliability, responsiveness, assurance, and empathy Notably, the tangible aspect is derived from Scandinavian research, while other elements have evolved from diverse theoretical contributions.

Zeithaml et al (1996) highlight the importance of reliability and assurance in North American schools, asserting that businesses must prioritize the consistent delivery of services and ensure medical safety for customers while striving for profit.

The SERVQUAL model emphasizes the importance of empathy in customer-centric service, highlighting that providers must genuinely care about customers' feelings Not all services will resonate with customers, making it crucial for businesses to actively listen to feedback and address concerns rather than solely focusing on sales This empathetic approach aligns closely with Scandinavian after-sales services, as it acknowledges that customers may experience issues or wish to make repeat purchases after their initial service experience.

Therefore, empathy is also reflected in the user manual, warranty or sale price reduction if the customer introduces a new person or buys the product next time

Figure 1 SERVQUAL model – proposed by Parasuraman et al (1988)

The North American school of thought is the most researched and widely implemented approach in understanding customer satisfaction By concentrating on the internal environment and minimizing external influences, this school enables a more precise identification of factors that drive customer loyalty Consequently, empirical studies frequently utilize this framework to evaluate customer loyalty within businesses.

Empirical studies on customer’s loyalty

Research on customer’s loyalty with some products and services in Vietnam, including:

Tran, Nguyen, and Tran (2020) evaluate customer loyalty within the hotel service sector by examining the business's image Their study highlights the distinctions in loyalty between domestic and international customer groups, based on a comprehensive analysis of 618 observations.

In their study, the authors utilized the SEM linear structural model to assess the impact of a business's image on hotel selection and repeat visits in Vietnam, highlighting its significance While focusing on the Scandinavian school of thought, they noted that other services, such as movie services, benefit from a combined approach of both Scandinavian and North American schools Cuong (2020) emphasized that, alongside image, factors like pricing and commitments also play a crucial role in influencing customer loyalty.

In the retail services - like the case that the thesis pursues - some studies can be mentioned such as:

Gomez, McLaughlin, and Wittink (2004) utilized the SERVQUAL model to evaluate customer loyalty in the retail sector, revealing significant insights into how loyalty influences enterprise profits Their findings indicate that customer satisfaction is primarily driven by factors such as price, empathy, promotional commitments, and convenience This study exemplifies the integration of the North American SERVQUAL model with Scandinavian principles, which emphasize pricing Similarly, Burns and Neisner (2006) examined customer loyalty through the lens of emotional connections to goods and services, concluding that businesses that demonstrate empathy, commitment, and responsiveness foster greater loyalty among customers In their research, only the SERVQUAL model was employed to measure customer satisfaction and loyalty, excluding Scandinavian elements.

In recent studies over the past five years, the predominant focus has been on customer loyalty to banking services, primarily utilizing the SERVQUAL model for evaluation However, the author chose not to explore these works due to the significant differences between banking services and those offered by Phu Thanh Investment Joint Stock Company, which encompasses a range of consumer goods from affordable to luxury items Notably, Biscaia, Rosa, Moura, and Sarrico (2017) employed a European satisfaction model to analyze customer loyalty in non-traditional retail services, particularly online delivery in Europe Their findings indicated that customers expressed higher satisfaction with consumer-friendly websites, highlighting the importance of a business's image and tangible elements in fostering customer loyalty.

The study by Vakulenko, Shams, Hellström, and Hjort (2019) highlights the importance of service commitments and delivery methods, revealing a trend towards increased use of online services over traditional offline options Their research also integrates the SERVQUAL model with pricing considerations within the context of North American schools, emphasizing the evolving landscape of service quality in education.

Recent studies, including those by Ying et al (2021) and Marín-García et al (2022), emphasize the importance of traditional channels in meeting the growing demand for luxury goods, revealing that while price influences customer loyalty, a business's attention to new customers significantly enhances loyalty Additionally, gender differences in customer satisfaction were noted, with women prioritizing corporate image, empathy, and price, while men value responsiveness and security Although many studies utilize the SERVQUAL model, they often overlook pricing and after-sales issues Moreover, there is a gap in research concerning customer loyalty in the confectionery and alcohol sectors, particularly regarding both popular and luxury goods, highlighting the need for further investigation into these areas.

Investment Joint Stock Company " does not coincide with any previous studies that the author knows.

Research objective

General objective: Evaluate which factors affect customer’s loyalty at Phu Thanh

Review of studies related to customer’s loyalty, then select the factors affecting loyalty to develop a research model

Testing the factors affecting customer’s loyalty at Phu Thanh Investment Joint Stock Company

From the model results (run by SPSS22 and AMOS 20), the thesis makes policy implications to reinforce customer’s loyalty with Phu Thanh Investment Joint Stock Company.

Research subject and research scope

Research subject: customer’s loyalty at company/enterprise

Focus on researching individual customers who have been buying goods and services of Phu Thanh Investment Joint Stock Company The author conducts direct interviews with buyers

Research period: from August 2021 to March 2022.

Research methodology

Theoretical research method

To conduct this thesis, various research methods will be employed, including literature review through books, textbooks, and online resources, alongside guidance from instructors This approach will involve reading, researching, and analyzing real-world conditions, as well as synthesizing theoretical documents provided by the supervisor The foundational theory applied in this research will focus on customer loyalty.

- The concept and importance of customer’s loyalty

- Research models of customer’s loyalty at retail outlets or retail companies.

Data sources

The thesis uses both secondary data source and primary data source

The thesis utilizes secondary data sources, including internal documents such as management regulations, financial reports, and market analysis, to assess the current business situation of Phu Thanh Investment Joint Stock Company Additionally, these data sources are instrumental in analyzing the key factors that influence customer loyalty.

Primary data source: Through in-depth interviews, the investigation of customers who buy goods from the outlet (through questionnaires) of 180 customers

Research findings from customer survey interviews serve as the primary basis for recommendations aimed at enhancing customer loyalty at Phu Thanh Investment Joint Stock Company's retail outlets Consequently, the conclusions and proposals are designed to fulfill the needs of satisfied customers.

Data collection methods

The author uses qualitative and quantitative methods to research the topic to collect primary data

The author conducted interviews to understand customer desires, expectations, and loyalty towards Phu Thanh Investment Joint Stock Company's outlets These discussions revealed gaps and weaknesses in the company's offerings compared to competitors, resulting in a shift of customers to other outlets Additionally, the insights gained from the interviews informed adjustments to the survey questionnaire for quantitative research Each interview lasted between 15 to 30 minutes, and a list of participating customers is included in the appendix.

In-depth interviews indicate that the SERVQUAL model, integrating North American and Scandinavian approaches, is well-suited for businesses in the confectionery, beverage, and alcohol sectors, encompassing both budget-friendly and premium products The interviews highlighted a significant issue within these industries.

The interviewee expresses a strong interest in the company's products, highlighting that product quality and attractive designs are crucial for enhancing consumer loyalty The company prioritizes food hygiene and safety, offering products that are stamped for quality assurance and are safe for use Additionally, the diverse range of products available for bulk purchase further appeals to customers In alignment with the SERVQUAL model, the company's offerings exemplify key dimensions such as responsiveness, reliability, and assurance.

- The interviewee is interested in whether the company pays attention to their needs Firstly, it is the attitude of the staff in the outlets Most customers who want to

The outlet's staff plays a crucial role in fostering customer loyalty by effectively communicating and addressing all customer needs during the sales process Given the nature of the products—confectionery, beverages, and alcohol—customers place significant importance on after-sales services, viewing them as an extension of the value received This includes expectations for discounts on future purchases and support for returns Additionally, empathy, as highlighted in the SERVQUAL model and the Scandinavian school of thought, is essential in shaping the customer experience, particularly through the interactions with outlet employees and the quality of after-sales support provided.

Customers prioritize the outlet's location and its interior decor, as these factors significantly influence their experience A conveniently situated outlet enhances accessibility, while luxurious and well-designed decor reflects the brand's commitment to quality and comfort Consequently, the physical attributes of the outlet play a crucial role in shaping customer perceptions, aligning with the SERVQUAL model's emphasis on tangible elements.

Thus, the qualitative study results show that the SERVQUAL model of Parasuraman et al (1988) meets the requirements set forth in customer’s loyalty assessment

The author conducts a questionnaire to evaluate customer loyalty at Phu Thanh Investment Joint Stock Company Following the guidelines set by Hair, Hult, Ringle, and Sarstedt (2016), a minimum of five responses per item is required for valid results With 15 items included in the survey, the necessary total number of observations is established to ensure the study's reliability.

According to Nguyễn Văn Thắng (2014), a sample size of over 100 observations is sufficient to meet research requirements Given that the company has approximately 500 regular customers who make purchases more than three times a year, the author strategically selects a sample from this group.

180 people to ensure that the sample is larger than the minimum observed sample

The author employs a questionnaire to gather insights from customers, utilizing this widely recognized survey tool to collect valuable information The questionnaire features a mix of open-ended and closed-ended questions, allowing for a comprehensive understanding of customer perspectives.

Closed question is a type of question that includes answer options, and customers only need to choose one of the answers Loyalty is measured on a Likert scale from 1

The satisfaction scale ranges from 1 to 5, where 1 indicates very dissatisfied and 5 signifies very satisfied Additionally, customer expectations are assessed through a similar 5-level framework, with 1 representing very unimportant and 5 denoting very important The evaluation criteria are based on various aspects of the research model established by the author, aligning with the topic's content.

- Loyalty on after-sales service, including about handling complaints

Open-ended questions: here customers can answer themselves according to their thoughts and evaluations with suggestions

After conducting preliminary questions, the author consulted experts and performed trial interviews with 10 customers to assess the clarity of the questions and identify necessary adjustments The questionnaire was distributed to 180 customers at Phu Thanh Investment Joint Stock Company's outlets, excluding those who purchased from consignment outlets Out of the 180 questionnaires sent, 169 valid responses were collected after rejecting 11 due to incomplete answers, as detailed in Chapter 2.

Data processing methods

Secondary data is processed by methods such as: classification, analysis, synthesis, chart diagram, comparison and evaluation

The author synthesizes primary data gathered from interviews, analyzing it according to the topics outlined in the interview guide Additionally, statistical analysis will be performed on the data collected from surveys using questionnaires.

To test the scale's reliability, the author calculated the Cronbach's Alpha coefficient and the overall variable correlation coefficient

Cronbach's Alpha coefficient is a widely accepted measure of scale reliability, with values of 0.8 or higher indicating a good scale, while values between 0.7 and 0.8 are considered usable Some researchers, including Hair et al (2016), suggest that a Cronbach's Alpha of 0.6 or above is acceptable, particularly for studies involving new concepts or unfamiliar respondents Consequently, this study will utilize a Cronbach's Alpha coefficient of 0.6 and above.

The total variable correlation coefficient quantifies the relationship between a variable and others within the same scale, indicating that a higher coefficient reflects a stronger correlation Nunnally (1994) classifies correlation coefficients into several levels: a coefficient between ± 0.01 and ± 0.1 signifies a negligible correlation, ± 0.2 to ± 0.3 indicates a low correlation, ± 0.4 to ± 0.5 represents a medium correlation, ± 0.6 to ± 0.7 denotes a high correlation, and a coefficient of ± 0.8 or above indicates a very high correlation.

Variables with a total correlation coefficient of less than 0.3 are considered “un- acceptable variables” and will be removed from the scale

Exploratory Factor Analysis (EFA) is a quantitative method that simplifies a large set of interrelated measurable variables into a smaller number of significant factors, preserving most of the original information (Hair et al 2009) This analysis helps authors assess the appropriateness of the number of factors and dependent variables in the model, as well as the relationships between them.

The EFA analysis of the research concepts is considered to provide evidence of the discriminant and convergent validity of the scale The relevance of the internal

The correlation of observed variables in research is indicated by the KMO coefficient (Kaiser-Meyer-Olkin) A KMO value between 0.5 and 1 signifies that factor analysis is suitable for the data, while a value below 0.5 suggests that factor analysis may not be appropriate.

In exploratory analysis, the relevance of the sample and the significance level of Bartlett's Test of Sphericity are crucial for assessing the appropriateness of factor analysis Representative factors are extracted from observed variables using the Varimax rotation and Principal Components factor extraction method Factors with an Eigenvalue exceeding 1 and a total variance extracted of 50% or more are deemed representative Additionally, factor loading coefficients that equal or exceed 0.5 indicate significant correlations between variables and factors.

From the results of exploratory factor analysis, the author will review the hypothetical research model, considering whether to adjust the model or not?

Linear regression analysis and hypothesis testing

Multiple linear regression serves as a valuable method for testing and explaining causal theories, as noted by Hair et al (2016) Beyond its descriptive capabilities, it functions as a powerful tool for hypothesis testing and predicting outcomes within a study population.

Multivariable linear regression analysis using ordinary least squares (OLS) was conducted to examine factors influencing customer loyalty The dependent variable in this analysis is customer loyalty, while the independent variables include product quality, outlet staff performance, outlet image, and after-sales support services.

The method of selecting the Enter/Remove variable is carried out.

Thesis structure

In addition to the introduction, conclusion, list of references and appendices, the thesis has three chapters as follows:

CHAPTER 1: THEORETICAL BACKGROUND OF FACTORS AFFECTING CUSTOMER’S LOYALTY IN ENTERPRISES

CHAPTER 2: THE CONTEXT STATUS OF CUSTOMERS’ LOYALTY AT PHU THANH INVESTMENT JOINT STOCK COMPANY

CHAPTER 3: SOLUTIONS FOR DEVELOPING CUSTOMERS’ LOYALTY

AT PHU THANH INVESTMENT JOINT STOCK COMPANY

THEORETICAL FRAMEWORK OF CUSTOMER’S LOYATY

Overview of customer’s loyalty

1.1.1 The concept of customer’s loyalty

There are many definitions (or concepts) of loyalty Still, there are some relatively general concepts that, according to Gummesson (1998), customer’s loyalty:

Customer loyalty is characterized by a strong commitment to repurchase or continue using a brand's products or services in the future, often leading to repeat purchases despite potential influences from competitors According to Biscaia et al (2017), loyalty reflects both the attitude and behavior of customers towards one or multiple brands within a product category over time Ultimately, loyalty signifies a profound dedication to revisiting or repurchasing a preferred product or service, resulting in consistent brand engagement.

Customer loyalty is a crucial asset in competitive markets, as highlighted by Cook (2010) According to Keller (1993) and Keller and Brexendorf (2019), fostering long-term customer retention necessitates that suppliers exceed mere satisfaction levels, thereby cultivating loyalty that can safeguard against competitive threats.

Customer loyalty, as defined by Tran et al (2020), refers to the ongoing use of a business's products and services, even when customers engage with competing offerings However, loyalty can sometimes be misleading; external factors may keep customers from leaving, leading to what Ying et al (2021) describe as "fake loyalty." True customer loyalty reflects a preference for a brand, driven by familiarity and comfort, which encourages consistent shopping behavior and enhances the overall shopping experience This loyalty is crucial for attracting consumers to established brands in a competitive marketplace.

To conclusion, it can be understood that customer’s loyalty is the fact that customers will continue to use the products and services of the business; at the same

Positive feedback from customers is essential for overcoming limitations and fostering loyalty, which encompasses both attitudes and behaviors Loyal customers demonstrate a more favorable perception of a company compared to its competitors To cultivate genuine loyalty, businesses must address both the behavioral and attitudinal aspects of customer loyalty (Cook, 2010).

Because loyalty has two components: Attitude Loyalty and Behavioral Loyalty Therefore, the manifestation of loyalty is expressed in:

Attitudinal loyalty highlights the importance of customer experience and emotional connections in fostering loyalty, reflecting past purchasing behaviors and influencing future buying decisions (Evanschitzky et al., 2006) It is evident in the extent of previous purchases and the purchasing limits within a customer group, showcasing how much a customer is willing to spend on a single transaction and their preference for a specific brand over alternatives This form of loyalty often arises from customers evaluating past services to determine their future purchasing intentions, typically comparing their experiences with the same products rather than with other service providers.

Behavioral loyalty is primarily measured through future repurchase intentions, frequency of purchases, and brand-switching behavior (Bandyopadhyay and Martel, 2007; Liang et al., 2009) This concept emphasizes customers' future interactions with products and services, contrasting with attitudinal loyalty, which centers on past purchasing behavior By focusing on potential future usage, behavioral loyalty provides valuable insights into customer engagement and brand commitment.

Customer loyalty is a primary objective and a crucial asset for enterprises (Verhoef, Van Doorn, & Dorotic, 2007) However, businesses striving for a customer-centric approach often face challenges in effectively maximizing this loyalty (Jasek, Vrana, Sperkova, Smutny, & Kobulsky, 2018).

Increasing customer’s loyalty by reducing the price of products or increasing the service will reduce the profit of the business

Relationship between satisfaction and loyalty

Customer satisfaction is crucial for fostering loyalty, as satisfied customers develop a strong attachment to the brand and its services This familiarity encourages repeat purchases and cultivates a habitual buying behavior, ultimately solidifying their loyalty to the enterprise.

Customer satisfaction plays a crucial role in fostering loyalty, as satisfied customers are likely to recommend products and services to friends and colleagues, influencing potential buyers and demonstrating behavioral loyalty Additionally, when customers are pleased with their experience, they are more inclined to share feedback on service quality, staff attitudes, and convenience, reflecting their loyal mindset This valuable customer input can significantly aid businesses in enhancing their offerings and overall service quality.

Customer loyalty is crucial for both customers and enterprises, playing a significant role in retail marketing and customer research It is linked to key outcomes such as increased sales, improved customer retention, and overall loyalty To achieve success, retail enterprises must understand the factors that influence customer loyalty, which is fundamentally rooted in the level of satisfaction derived from purchasing and consuming products Loyalty is influenced by the perceived value customers receive compared to the costs incurred, as well as the alignment between actual consumption value and customer expectations Discrepancies between expected and actual value can lead to disappointment, underscoring the importance of managing customer expectations effectively.

Customer loyalty towards a product is largely influenced by the comparison between actual results and expectations When a customer's experience falls short of expectations, dissatisfaction arises; if results meet expectations, the customer feels satisfied; and if outcomes exceed expectations, they experience a high level of satisfaction These expectations are shaped by previous purchasing experiences, recommendations from friends and colleagues, and the claims made by sellers and competitors.

Otherwise, loyalty has some other effects on businesses as follows:

Loyal customers help reduce costs for enterprises

Maintaining existing customers is significantly more cost-effective than acquiring new ones, with research by Vakulenko et al (2019) indicating that the maintenance cost is only 1/5 to 1/10 of the acquisition cost To attract new customers, businesses often invest in advertising, offer discounts and promotions, provide gifts, and showcase the value of their brand, making the acquisition process both complex and costly before any revenue is realized.

Building customer loyalty is crucial for strengthening your brand and can significantly impact your business growth Loyal customers not only encourage others to try your products or services but also help reduce the costs associated with acquiring new customers.

Loyal customers help increase business revenue

Research by Marín-García et al (2022) highlights that 20% of a company's existing customers can account for 80% of its profits, emphasizing the importance of nurturing relationships with current clients For sustainable growth, businesses should focus on maximizing revenue from existing customers rather than solely attracting new ones Once trust is established, there is no need to repeatedly prove product quality or build a reputation, as loyal customers are more likely to engage and invest in your offerings.

Existing customers are more receptive to learning about complementary products and services that enhance the value of their current purchases Furthermore, individuals often place greater trust in reviews and recommendations from peers who share similar lifestyles and characteristics, highlighting the importance of word-of-mouth marketing.

Factors influencing customer’s loyalty

To enhance customer loyalty, Phu Thanh Investment Joint Stock Company must prioritize customer satisfaction with its products and services amid the ongoing rapid integration process.

Rely on the novel theory of customer’s loyalty in the Scandinavian and North

American schools (the SERVQUAL model – proposed by Parasuraman et al 1988), the interview results through qualitative methods and characteristics business of Phu

Thanh Investment Joint Stock Company specializes in the retail of confectionery, beverages, and foreign alcohol, making it a unique player in the consumer products market To enhance customer satisfaction and foster loyalty, the author employs a research model that integrates the SERVQUAL model with a Scandinavian approach, emphasizing customer-centricity This model is structured around four key factors that are essential for understanding and improving the customer experience.

In-depth interviews focus on key aspects such as products, staff, outlet image, and after-sales care, aligning with Kotler's (2003) marketing mix principles for customer retention The author's model suggests a comprehensive approach to research in this area.

Products are a crucial factor influencing customer interest and the buying process, particularly in supermarket environments where retailers prioritize the "product" concept Research indicates that mixed product elements significantly affect quality, evaluation, and performance (Prasad Kotni & Karumuri, 2018) Positive product reviews enhance customer loyalty to the outlet (Baskerville & Wood-Harper, 1996) A study across five European countries revealed that product quality is fundamental in establishing a brand's core identity (Burns & Neisner, 2006) Additionally, research in the grocery retail sector highlights that product grouping is a key determinant in customers' choice of discount outlets, hypermarkets, or traditional supermarkets (Hunneman, Verhoef, & Sloot, 2021) Ultimately, customers' perceptions of product quality are closely linked to their loyalty and the perceived value of the outlet (Parasuraman et al., 1988; Sasono et al., 2021; Tran et al., 2020).

Nowadays, with the increasing requirements for customer satisfaction, in addition to the factors of quality, quantity and price, the proximity to the environment

20 or technical features when used, the information related to the product always keep the customer's attention in the buying process So, the hypothesis is proposed:

H1: Enterprise products have a positive impact on customer’s loyalty

In retail enterprises, staff members serve as the primary representatives of the brand, directly engaging with customers to deliver products and services The behavior of service personnel significantly impacts customer evaluations during transactions (Ying et al., 2021) Organizations can gain a sustainable competitive advantage by excelling in service delivery (Gronroos, 1990; Gronroos, 2017) Given that services often involve frequent, direct interactions between employees and consumers, those employees play a crucial role in ensuring high-quality service and customer satisfaction Furthermore, customer loyalty can influence behavioral outcomes, such as repeat purchases, positive word-of-mouth, and overall customer engagement (Glynn).

& Lehtinen, 1995; Phạm Thị Huyền & Nguyễn Hoài Long, 2018)

Staff at enterprise outlets play a crucial role in fostering positive emotions for customers, as these emotions are vital for service quality management (Oliver, 1997) Research indicates that loyalty is often analyzed through cognitive factors, while the emotional aspect remains underexplored (Stauss and Neuhaus, 1997) Customer loyalty encompasses both emotional and cognitive elements (Liljander and Strandvik, 1997), with studies showing that negative emotions can have a stronger impact on loyalty than positive ones (Wrong, 2004) Employee interactions with customers significantly influence these emotions, as engaging customer service can attract more clientele (Czepiel and Gilmore, 1987) Additionally, a positive emotional state can lead customers to make additional purchases, driven by appealing displays and expressions in the outlet (Sherman et al., 1997).

In retail enterprises, employees serve as a crucial leverage point, significantly influencing sales and profitability A single effective staff member has the potential to attract 100 customers, while a poor-performing employee can deter the same number Replacing one ineffective staff member may require hiring 10 skilled employees or recovering lost customers, highlighting the vital role of staff in driving business success.

Poor service from a salesperson can lead to lost customers, as individuals are likely to share their negative experiences with others, discouraging them from purchasing Conversely, positive service encourages customer loyalty and word-of-mouth referrals, driving more business to the enterprise This demonstrates the power of leverage in customer behavior, where satisfied customers not only return but also influence potential buyers by creating a perception of popularity and desirability in the store.

So, the hypothesis is proposed:

H2: The staff (at outlet of enterprise) have a positive impact on customer’s loyalty

The outlet's image is significantly influenced by its space, which encompasses organic visual elements such as brand identity, layout, and transportation convenience A well-designed outlet space enhances customer experience and satisfaction, ultimately affecting the time and money customers spend there Convenience in layout and design is crucial for helping customers navigate their shopping experience, allowing them to easily understand signs and labels, which aids in managing their purchases An effective outlet layout is characterized by clarity and accessibility, enabling customers to quickly locate desired products Additionally, the strategic use of labels, informational posters, and signs contributes to creating an attractive and engaging shopping environment.

Customers often prefer shopping at outlets with a positive atmosphere, as it enhances their emotional experience and encourages them to spend more Even if they arrive in a negative emotional state, the uplifting environment can transform their feelings to happiness and enjoyment, influencing their purchasing decisions.

H3: Outlet image of the enterprise positively impacts customer’s loyalty

1.2.4 After-sales service (including handling complaints after purchase)

Pre- and in-sales support services play a crucial role in attracting customers, while after-sales support is equally vital for retaining them, encouraging repeat purchases.

After-sales support service, often referred to as after-sales service, encompasses a range of activities aimed at enhancing customer satisfaction post-purchase This includes various promotions and discounts designed to encourage repeat purchases, ultimately fostering customer loyalty.

After-sales services play a crucial role in enhancing a company's brand image and fostering customer loyalty, which contributes to sustainable business development (Tran et al., 2020) These services not only generate profit and boost total revenue but also help attract potential customers by promoting a positive perception among existing clients By leveraging the satisfaction of current customers, companies can effectively draw in new clientele and strengthen their market presence.

Effective complaint resolution transforms customer grievances into opportunities for improvement, highlighting the true needs of customers Enterprises must recognize that complaints signal the start of a solution rather than the end of a problem By skillfully addressing issues, businesses can turn negative experiences into positive outcomes, fostering customer loyalty When companies actively listen to complaints, rectify mistakes, and express genuine gratitude, they encourage satisfied customers to share their positive experiences, amplifying the power of word-of-mouth advertising—one of the most impactful forms of marketing today.

By doing so, the enterprise is unharmed and has the opportunity to have more customers and more successful sales

Effective complaint handling is crucial for customer retention; neglecting to understand the root causes of customer frustration can lead to lost business opportunities Companies must adopt a proactive approach, embracing customer complaints with the mindset of "We look forward to hearing all customer complaints." By actively listening to customers, businesses can demonstrate that their needs are valued, fostering a sense of comfort, security, and trust While managing complaints can be challenging, successful resolution leads to higher customer satisfaction As customer expectations continue to rise, the ability to listen, respond, and address complaints effectively becomes essential for building long-term loyalty.

H4: After-sales service of enterprises has a positive impact on customer’s loyalty

Experience of some companies and implications for Phu Thanh Investment Joint

Experience of Bien Hoa Confectionery Joint Stock Company (Bibica)

Bibica is a Vietnamese confectionery brand of the southern region The distinctive feature of this company is that it has created a loyal customer base, including both individual

24 and corporate customers The company has created a number of customers who have a habit of buying for themselves, including the following measures

To enhance customer satisfaction, it is essential to continually develop a diverse range of products tailored for both high-end and everyday consumers Bibica specializes in crafting aesthetically pleasing items that appeal to customers looking for gifts or personal use, thereby expanding their choices and enriching their shopping experience.

Bibica has established strong partnerships with local supermarkets and businesses, enhancing the distribution of its products Notable supermarkets like BigC and Win-mart have embraced Bibica's offerings, allowing the company to reach a wider customer base in the market.

Bibica strategically emphasizes the wholesale market, distinguishing itself from competitors While the company boasts a large retail customer base, the profitability from these consumers is significantly lower compared to wholesale clients To enhance connections with businesses and supermarkets, Bibica implements targeted strategies such as offering price discounts and boosting brand recognition.

Experience of Hai Chau Confectionery Joint Stock Company

Hai Chau Confectionery Joint Stock Company is a well-known player in the market, not for its confectionery but for its auxiliary products To maintain customer loyalty and ensure its survival, the company has implemented several strategic measures.

To elevate our offerings into the high-end market, we are expanding our selection to include premium confectionery and imported wines, catering to diverse customer preferences Additionally, we are enhancing our gift products for special occasions like Tet and the Mid-Autumn Festival, ensuring they are beautifully designed to meet customer expectations.

Hai Chau Confectionery Joint Stock Company prioritizes after-sales service, supported by a dedicated team that conducts market research and addresses customer needs The company ensures that all customer inquiries and concerns are resolved with a strong emphasis on achieving customer satisfaction.

Food safety and hygiene are critical concerns for Hai Chau Candy Company, which faces challenges from counterfeit products To combat this issue, the company has secured exclusive protection for its brand, promoting healthy competition in the market Additionally, it has opened new stores to guarantee product availability and enhance customer appeal through distinctive offerings.

1.3.2 Implications for Phu Thanh Investment Joint Stock Company

From the experience of some enterprises in the market, some lessons can be given to Phu Thanh Investment Joint Stock Company as follows:

To better cater to customer preferences, it is essential to incorporate imported products alongside traditional offerings Imported beer and wine, in particular, play a significant role during major Vietnamese celebrations like Tet and the Mid-Autumn Festival.

Enhancing the customer care system through a dedicated hotline is essential for effectively addressing customer needs This service will cater to inquiries related to purchasing, sales, and after-sales support, providing customers with greater options and improving their overall experience.

Phu Thanh Investment Joint Stock Company can enhance product distribution by partnering with supermarkets and retail stores in rural areas, ensuring better access to confectionery for customers.

Ensuring food hygiene and safety is crucial, as the company's products significantly impact consumer health and must meet medical standards Additionally, it is essential for the company to prioritize trademark protection to prevent counterfeit goods.

CHAPTER 2: THE CONTEXT STATUS OF CUSTOMERS’ LOYALTY AT

PHU THANH INVESTMENT JOINT STOCK COMPANY

Overview about Phu Thanh Investment Joint Stock Company

2.1.1 History and development of Phu Thanh Investment Joint Stock Company

Business name: Phu Thanh Investment Joint Stock Company

English name: Phu Thanh JSC company

Address: Lot 3, N4 street, Hoa Xa industrial park - Nam Dinh

Our company specializes in the production and trade of a wide variety of confectionery and beverages We engage in the buying, selling, and processing of food products, as well as the importation of diverse foreign goods and confectionery for distribution throughout the country.

Founded in early 2004, the company possesses legal status and civil rights, ensuring accountability for its business activities up to the amount of its contributed capital It operates with its own seal, holds assets and concentrated funds, and is authorized to open bank accounts in accordance with state regulations.

From its establishment in 2004 until early 2008, the company focused on developing fixed assets, recruiting employees, and launching initial products into the market However, between 2008 and 2009, the company faced significant challenges due to new market entrants and an economic downturn, shifting its focus from profit generation to exploration and market discovery, resulting in low yields during this period.

From 2009 to 2018, the company focused on expanding its business by initially selling products to various enterprises in Hoa Xa industrial park and other firms in Nam Dinh province Subsequently, it made a significant push into the Hanoi market, capitalizing on the high demand for goods, particularly foreign confectionery and alcoholic beverages.

Since 2019, the company has experienced accelerated growth while maintaining stable development With an initial charter capital of 3 billion VND, it has secured sufficient funds for business expansion To further scale its operations, the company employs various strategies, including bank loans and customer financing, ensuring it meets its capital requirements at all times.

The company's mission focuses on wholesale and retail of confectionery items to serve the needs of customers in Hanoi and nearby provinces, including Nam Dinh, Thai Binh, Hai Duong, and Ha Nam From 2021 to 2025, the goal is to expand into inner regions like Thanh Hoa and Nghe An, as well as southern markets By understanding customer preferences, the company aims to establish effective business strategies that build credibility and trust, thereby minimizing risks All departments are accountable for their specific production and business responsibilities, ensuring smooth transactions, negotiations, and contract signings through effective product and goods introductions.

To successfully implement the business plan, it is essential to adhere to legal requirements and align with the company's objectives This involves effectively utilizing company capital while also attracting additional resources to support business expansion, financial management, and profit generation, all while addressing societal needs Continuous improvement of employee benefits is crucial for ensuring competitive salaries and a better working environment Furthermore, fostering growth in production and business activities will enhance the company's market reputation and overall accumulation.

Maximizing profits is the main objective for every company in the market, driving all activities towards achieving mutually beneficial sales Each department within a company contributes to the consumption of goods, but the sales department is pivotal, taking the lead in managing, overseeing, and actively executing sales initiatives.

The organizational model of the company consists of the following divisions:

The director oversees and manages all general activities and sales, making crucial management decisions that shape the overall direction of operations This role involves determining business strategies and methods, as well as making decisions regarding the consumption of goods.

The organizational structure includes one deputy director overseeing technical operations and another managing business affairs The Vice President of Sales, reporting to the Executive Director, directly leads the sales department and is responsible for all marketing strategies and initiatives.

Figure 2.1: Structure of the Company

Sales Department is responsible for sourcing goods from suppliers, building strategies - business plans, developing customer systems and developing markets

Deputy director in charge of technical

Deputy director in charge of business

The Import-Export Department is tasked with managing the processes involved in importing goods and materials into Vietnam, focusing primarily on premium confectionery and imported wines for the company.

Administration - Human Resources Department: is responsible for organizing administrative and human resource management, monitoring labor and implementing employee-related regimes such as leave, salary and bonus

Accounting Department: is responsible for financial management, accounting, collecting and providing financial and economic information, strictly observing the state's regimes and policies on accounting management of the company

The Technical Department is responsible for ensuring the formulation, production techniques, and complete technology for products, while also overseeing product quality and managing the inspection and maintenance of workshop machinery and oven temperatures Meanwhile, the outlets focus on product introduction and sales, maintaining a daily accounting system for revenue and inventory Each outlet is staffed with managers and sales personnel who handle retail operations effectively.

Staff: In the beginning, the company was just a private confectionery outlet with

After nearly 20 years of operation, the company has experienced significant growth, expanding its workforce from 5 to nearly 200 regular employees, with seasonal numbers peaking at 300 during the Tet holiday The majority of employees, aged 20-35, bring dynamism and creativity to the business, particularly within the enthusiastic and responsible sales team However, a challenge remains in the lack of intensive training for this team, especially regarding foreign wine knowledge The company has established a policy of appointing one outlet manager for every eight or more employees, yet currently, only 3 out of 8 outlets have a dedicated manager, with 2 managers overseeing the remaining 5 outlets due to staffing constraints.

The main goods, services of the company

Product requirements of the company: ensure food hygiene and safety and are diverse in types and models

The company currently has 2 fundamental product lines which are:

Cake: including soft chocolate covered cake, bear cake, chocolate coin cake, biscuit, and savory cake

Candy: Includes chocolate-covered almond candies, chocolate popsicles, fruit- flavoured chocolate candies, and marshmallows

Each type of product has many different packaging methods and different levels of luxury, suitable for customers: giving to the Buddhist temple (and the same place), kids snacking…

The company mainly imports wines such as: Macallan, Glenfiddich, Chivas Regal, Johnnie Walker, Hennessy Cognac XO, Remy Martin, red and white wines from Italy and France

The company has imported a variety of dried fruits from Korea, China, and Japan, along with key Tet products like calves and lamb thighs sourced from Western countries.

The company's operations mirror those of typical food businesses, relying on essential inputs like eggs, butter, and milk To optimize transportation and reduce costs, the company sources these items from farms in the northern and central provinces Additionally, certain flour products are acquired through pre-orders from suppliers.

Customers loyalty at Phu Thanh Investment Joint Stock Company

2.2.1 Overview of the company's customer base

Phu Thanh Investment Joint Stock Company operates in the confectionery, beverage, and alcohol sectors, with a strong emphasis on imported goods, resulting in a large and diverse customer base Following its shift to foreign alcohol, the company has attracted numerous retail and wholesale clients While its primary market is in the northern provinces, it is gradually expanding into central and southern regions Notably, outside of Hanoi, the company benefits from a free business environment, although competition in smaller provinces like Nam Dinh, Thai Binh, and Ha Nam is shared among similar companies.

Over the years, the company has experienced a steady increase in its customer base, particularly among enterprises importing its goods In 2018, there were only 89 business partners focused primarily on confectionery and foreign alcohol products However, by 2020, market developments, such as the rising demand for high-end goods like foreign wines and gift items for the Tet holiday, significantly boosted the number of corporate customers importing the company's products.

In 2021, the company faced a period of stagnation, experiencing a significant decline in customer numbers, dropping to 107 While there is potential for growth in essential items and confectionery, the luxury goods market proved challenging, hindering continued sales and customer retention.

Table 2.4 Total customers of the company

Retail outlets (with distribution of company products)

In 2020, individual customers experienced increased purchasing power as they stockpiled goods in anticipation of prolonged isolation due to the Covid-19 pandemic, leading to a decrease in the overall number of customers Despite this decline, the company's products continued to sell well, largely due to disruptions in imports and temporary production closures caused by the pandemic As customers sought alternative suppliers, enhancing customer loyalty became crucial in a competitive landscape where consumer needs were rapidly evolving.

The company has 8 specialized outlets for distribution of goods, and more than

100 outlets import the company's goods for distribution Due to the impact of the epidemic, the number of imported outlets decreased by 5, to 98 outlets in all

2.2.2 General evaluation of customer’s loyalty at Phu Thanh Investment Joint Stock Company

In Chapter 1, the author outlines the research objectives and methods, focusing on customer expectations and satisfaction at Phu Thanh Investment JSC outlets Utilizing the retail network of Phu Thanh Investment JSC, the author, with assistance from outlet employees, distributed a questionnaire to 180 customers, successfully gathering 169 responses.

Table 2.5: Average score of 4 aspects of analysis

No Aspect Importance Satisfied/Loyalty

The survey revealed that 15 items assessing customer loyalty across four outlet aspects received average scores ranging from 2.49 to 4.82 on a 5-point scale Notably, 10 out of the 15 items indicated average loyalty scores that fell below customer expectations, highlighting a gap in perceived loyalty (refer to Appendix 3).

Table 2.5 indicates that the product aspect has the highest average scores for both customer expectation (4.55/5) and satisfaction (4.34/5), demonstrating that Phu Thanh Investment JSC effectively meets customer expectations and highlights its competitive advantage The outlet staff aspect ranks second in average expectations, while after-sales support services follow in third Notably, there is a significant gap between customer loyalty and expectations, with scores of 3.20/4.33 and 2.69/4.15, respectively.

Expectations and loyalty on the product side of the company

An assessment of customer expectations regarding four product aspects revealed that the criterion for product quantity received the highest average score of 4.85 out of 5, followed closely by product quality with an average score of 4.74 Both criteria exhibited a standard deviation of less than 5, indicating a high and uniform level of customer expectations for quality and quantity In contrast, the price criterion had the lowest average score of 4.11, with a minimum score of 3, signifying it as the area with the least customer expectation among the four product aspects.

Table 2.6: Customers' expectations about products of the company

No Question Max Min Average Standard deviation

Quality of goods guaranteed? (in general, the quality of goods is higher than other confectionery and other items that I buy in the same area)

Quantity of goods (goods always have all kinds of goods suitable for my needs when buying for gifts or other needs)

3 The selling price of goods is in line with other outlets and units 5 3 4.11 0.699

4 Safety while using goods (food safety and hygiene) 5 3 4.49 0.557

Average score of product aspect 4.55

Table 2.7: Customer’s loyalty to products

No Question Max Min Average Standard deviation

Quality of goods guaranteed? (in general, the quality of goods is higher than other confectionery and other items that I buy in the same area) 5 4 4.63 0.483

Quantity of goods (goods always have all kinds of goods suitable for my needs when buying for gifts or other needs) 5 4 4.82 0.388

3 The selling price of goods is in line with other outlets and units 5 2 3.43 0.553

4 Safety while using goods (food safety and hygiene) 5 3 4.49 0.557

Average score of product aspect 4.34

Statistical analysis reveals that customer loyalty evaluations for Phu Thanh Investment JSC are highest for product quantity (4.82/5) and product quality (4.63/5) In contrast, the selling price criterion scores the lowest, with a minimum loyalty rating of 2, indicating that this aspect does not meet customer expectations effectively.

A comparison of Tables 2.6 and 2.7 reveals that the largest gap between customer loyalty and expectations lies in the selling price criterion (3.43/4.11), followed by product quality (4.63/4.74) The other two criteria show smaller differences, with food safety and hygiene having a minimum value of 3, the second lowest among the four items To enhance customer loyalty, the company should prioritize solutions that boost satisfaction in selling price, product quality, and food safety and hygiene, with a particular emphasis on improving the perceived value of the selling price.

Expectations and loyalty of the company's employees

Table 2.8: Customers' expectations about the company's staff

No Question Max Min Average Standard deviation

1 The friendliness, enthusiasm, honesty of the outlet staff 5 4 4.58 0.495

2 Product knowledge, advice and guidance of outlet staff 5 2 4.09 0.762

The professionalism of the outlet's staff in sales

(Apparel, manipulation, customer communication skills) 5 3 4.33 0.652

Average score of the company's staff aspect 4.33

The statistical analysis revealed that among three evaluated criteria regarding staff and customer perceptions, the highest average score of 4.58 was attributed to the friendliness, enthusiasm, and honesty of outlet employees, indicating strong customer expectations and satisfaction In contrast, the criterion for product knowledge and sales staff guidance received the lowest average score of 4.09, with a minimum score of 2, highlighting areas that require improvement in staff training and customer engagement.

> 4 shows that each criterion's expectation level is at a high level

Table 2.9 reveals that the average loyalty score regarding the company's staff is notably low, particularly in the areas of friendliness, enthusiasm, and honesty, with a minimum score of 1, which is the lowest among all evaluated items Additionally, professionalism in the outlet's sales staff ranks as the second lowest, exhibiting a maximum score of 4 while still reflecting significant room for improvement.

The article highlights three key criteria regarding employee performance at Phu Thanh Investment JSC In-depth interviews revealed numerous complaints about the service attitude of the company's sales staff, which aligns with the survey results obtained through a questionnaire conducted by the author.

Table 2.9: Customer’s loyalty in terms of the company's staff

No Question Max Min Average Standard deviation

1 The friendliness, enthusiasm, honesty of the outlet staff 5 1 2.49 0.674

2 Product knowledge, advice and guidance of outlet staff 5 2 3.99 0.764

The professionalism of the outlet's staff in sales

(Apparel, manipulation, customer communication skills) 4 2 3.11 0.640

Average score of the company's staff aspect 3.20

The data reveals a substantial gap between customer expectations and actual perceptions regarding outlet staff's friendliness, enthusiasm, and honesty, with a score of 2.99 out of 4.58 Additionally, the professionalism of the staff scores 3.11 out of 4.33, indicating room for improvement In contrast, product knowledge nearly meets customer requirements, scoring 3.99 out of 4.01 To enhance customer loyalty, it is essential to focus on improving the friendliness, enthusiasm, and professionalism of the outlet staff.

Expectations and loyalty about the image aspect of the company

Table 2.10: Expectations about the company's image aspect

No Question Max Min Average Standard deviation

1 The location of the company and its retail outlets of confectionery and alcohol… is convenient 5 3 4.47 0.627

2 Decorative sign, color, design, arrangement of the outlet 5 2 3.52 0.887

3 Large sales area, beautifully equipped, impressive feeling 5 2 3.70 0.967

4 Technology systems, machines for sales 5 3 4.34 0.627

Average score of the company's image 4.01

The evaluation of customer expectations regarding the company's image reveals consistent results across various criteria, with an overall average score of 4.01 indicating high expectations Notably, the company's position received the highest average score of 4.47, followed closely by the technology system and vending machines at 4.34 In-depth interviews corroborate these findings, as many customers express satisfaction with the company's location and server technology Ultimately, strong sales performance emerges as the most anticipated aspect of the company's image among customers.

Table 2.11 Customer’s loyalty in terms of company image

No Question Max Min Average Standard deviation

1 The location of the company and its retail outlets of confectionery, alcohol… is convenient 5 4 4.52 0.501

2 Decorative sign, color, design, arrangement of the outlet 5 2 3.51 0.684

3 Large sales area, beautifully equipped, impressive feeling 4 2 2.79 0.589

4 Technology systems, machines for sales 5 4 4.33 0.474

Average score of the company's image 3.97

SOLUTIONS FOR DEVELOPING CUSTOMERS’ LOYALTY AT

Development orientation and requirements for increasing customer’s loyalty at

at Phu Thanh Investment Joint Stock Company

3.1.1 Development orientation of Phu Thanh Investment Joint Stock Company

The company operates under the philosophy of "Food hygiene and safety, for public health," emphasizing that "quality makes a difference." Their products are characterized as "Delicious, cheap, and safe." By 2030, the company aims to expand its distribution of confectionery and foreign alcohol products across the nationwide market.

The company is currently focused on expanding its distribution network beyond the Northern market, where it has limited agents and distributors To achieve growth, the company aims to promote its products in the Central, Central Highlands, and southeastern provinces.

The company's confectionery products primarily cater to middle-income customers, while its imported offerings target the near-upper class market, often intended for gifting To expand its reach and appeal, the company aims to enhance product quality and serve a broader customer base.

❖ Increase brand awareness, put products into supermarkets

To enhance brand visibility and reach a wider customer base, it is essential for the company to strengthen its brand identity through advertising on radio, television, and other mass media, while also promoting sales in supermarkets This strategy will not only increase awareness of the company's products but also reinforce their commitment to quality, food hygiene, and safety standards Looking ahead to 2023-2025, the company is poised for profit growth that exceeds previous years Additionally, in response to the pandemic, the company plans to leverage e-commerce platforms to facilitate online sales of its products.

Ensure market development to the central and southern regions From 2022 to

To enhance market share, it is essential to establish outlets in central provinces such as Nghe An, Quang Binh, and Da Nang by 2025, while also piloting locations in select southern provinces.

Developing corporate customers and grocery merchants to import the company's products shortly

To boost production, especially 3 months before and after the Tet holiday when people's demand for confectionery increases

Selling goods into the supermarket system (BigC, T-mart system, Q-mart, Winmart)

Distributing in the central region and gradually infiltrating the southern region

In 2023, revenue increased by 10%-15% compared to 2019

By 2025, an increase of 20%-25% compared to 2019

3.1.2 Requirements for increasing customer’s loyalty at Phu Thanh Investment Joint Stock Company

In 2021, the company experienced a noticeable decline in its customer base, a trend that is expected to continue into 2022 and beyond due to the worsening epidemic and its impact on people's incomes As a result, the company recognizes the urgent need to enhance customer loyalty through targeted strategies.

Customers are a vital asset for any company, making it essential to cultivate future customer sources Retaining key clients is crucial, and businesses should also focus on strategies to re-engage and attract previous customers.

To ensure customer satisfaction throughout the marketing, sales, and after-sales processes, it is essential to address any complaints promptly and effectively Companies must prioritize the needs of their customers, especially significant clients who represent the business in purchasing decisions.

To effectively cater to traditional customers, businesses should prioritize saving their information and offering discounts to long-standing clients It's essential to assign dedicated employees to manage this customer segment, whether at the outlet or within the company's office, ensuring personalized service and fostering loyalty.

- For new customers, it is necessary to ensure that the company's image is most suitable to retain customers

Ensure that hotlines or direct phone numbers for outlet managers and directors, as well as the company's general email, are readily available for customers This allows for efficient communication and assistance regarding any issues related to purchasing and selling goods.

Solutions for developing customers’ loyalty at Phu Thanh Investment Joint Stock

Based on the model's findings and customer surveys from outlets using the company's products, the author proposes targeted solutions to enhance product performance and customer satisfaction.

3.2.1 Appreciate after-sales support services

The analysis reveals that Phu Thanh Investment JSC's outlets are struggling with customer loyalty, evidenced by an average loyalty score of 2.69 out of 5, compared to customer expectations of 4.15 In-depth interviews and customer feedback indicate that after-sales service is a critical factor influencing customer loyalty Additionally, competing businesses in the area have implemented convenient service models that minimize customer wait times and enhance revenue.

The company has effectively addressed customer queries at the outlet, resulting in positive feedback from customer surveys that indicate high satisfaction levels However, some customers have expressed concerns regarding discounts on repurchases To enhance customer loyalty, the company has implemented a policy encouraging customers to create an account or provide their phone number, allowing them to access personalized information and enjoy better pricing on future purchases.

Customer complaints predominantly occur during the buying and selling process, as revealed by in-depth interviews and customer surveys Customers often have limited time and tend to voice their complaints directly to the sales team at the point of purchase Therefore, it is essential to implement convenient channels for customers to express their grievances and provide suggestions for improvement.

To enhance the quality of two-way communication between customers and Phu Thanh Investment JSC, it is essential for the company to prioritize customer care and ensure that clients feel valued By streamlining the process for addressing customer inquiries, the company can utilize feedback to improve service and care quality It is crucial to publicly share contact information, including the email address and phone number of authorized personnel, and to establish a direct hotline for customers to voice their concerns effectively.

To enhance after-sales activities, businesses must address pricing challenges in a competitive market Effective pricing strategies should consider not only production costs and seller expectations but also the preferences of customers and the pricing tactics of competitors.

To effectively establish a suitable suggested retail price, it is crucial to align with market positioning while ensuring profitability for distributors and agents, particularly for customers who make repeat purchases A careful pricing strategy should involve surveying similar products in the market to determine a competitive price that allows for acceptable discounts Each agent or distributor should receive tailored discounts based on their purchase volume, adhering to the principle that larger purchases yield greater discounts Instead of frequent price reductions, maintaining stable pricing with strategic promotions is recommended; for instance, offering a small product as a bonus with larger purchases can enhance value This approach is especially beneficial for launching new products, as it encourages existing customers to try them while reinforcing brand loyalty.

To develop an effective pricing policy tailored to specific customer groups, it is essential to establish a comprehensive customer database This database should be an organized repository containing detailed information about both existing and potential customers Key factors must be considered to ensure the database is effective and meets the needs of the business.

Outlet customer identification information such as: Address, gender, age, date of birth, company establishment, address, and phone number

There are quantitative data such as: When the customer transacts, the amount of money the customer transacts, the profit earned in each transaction with the customer

- There are qualitative data such as: Indicating the type of customers and characteristics in using the company's products and services

The company's existing customer information database has notable limitations, primarily the need to categorize customers into four key groups: VIPs, potential customers, general customers, and internal customers By neglecting to address the specific needs of these groups, the company risks failing to implement effective customer support programs and policies.

* To be able to exploit the full functionality of the database, the company can apply many ways to divide customer groups such as:

- By revenue: Large customers, high turnover customers, small and medium customers

- Over time: Diamond customers, gold customers, silver customers, bronze customers

Understanding customer characteristics is essential for effective service Special customers, corporate clients, operators, organizers, and individuals each require tailored care By categorizing these groups, businesses can develop specific customer care policies that enhance support and ensure satisfaction.

In addition, the company should pay attention to each customer with specific actions

To enhance customer relationships, management should implement policies that encourage employees to remember individual customer characteristics and needs This information should be systematically recorded in a database, allowing for personalized interactions during future encounters with customers.

After customers make a purchase, it's essential to follow up with a personalized email to enhance their experience For representatives negotiating lower prices, this approach can facilitate bulk buying opportunities Additionally, on special occasions such as holidays or customers' birthdays, sending a thoughtful email or message can strengthen customer relationships and foster loyalty.

To enhance customer satisfaction and loyalty, companies should implement tailored pricing policies that offer added value to special customers, including high-value traders, long-term clients, and frequent purchasers.

Regularly giving small, logo-branded gifts to customers can enhance their experience and promote brand awareness at a low cost Tailor your gift-giving approach based on customer loyalty; offer larger gifts to loyal customers while sending greeting cards via email to others It's important to engage with all customer segments, ensuring that no group is overlooked in your marketing efforts.

- Organize meetings, exchanges, customer conferences to answer questions, receive complaints and criticisms from customers, thereby promoting the advantages and taking measures to overcome

VIP customers enjoy exclusive treatment policies, including the formation of VIP customer clubs that host regular activities such as small parties and outdoor picnics These initiatives make VIPs feel valued and special to the company, while also inspiring other customers to aspire to join this elite group.

- Implement a scoring program for customers based on products and services used by customers at the company, according to which there are attached policies for each specific point level

Conclusions

The research findings enabled the author to address two key questions: first, the level of customer loyalty towards Phu Thanh Investment JSC, and second, the strategies required to enhance this loyalty in the current market environment.

This study systematically outlines the fundamental theories of customer loyalty and identifies the key factors influencing it Drawing on existing literature both domestically and internationally, the author develops a research model to assess the determinants of customer loyalty specifically for Phu Thanh Investment JSC.

The survey results show that customer’s loyalty to the company is affected by 4 factors Specifically, all four components positively impact the loyalty of customers to

Phu Thanh Investment JSC prioritizes after-sales services as the key factor driving customer loyalty, while the company's image and outlet branding hold less significance The effectiveness of after-sales support is crucial for fostering strong customer relationships, overshadowing the impact of product presentation and staff interactions.

The research indicates that customer loyalty to the company is rated positively, achieving an average score of 3.55 on a 5-point Likert scale This suggests that customer satisfaction and loyalty are at an acceptable level.

The author outlines key policy implications for effectively implementing the proposed solutions, emphasizing the importance of strategic customer care planning and the assignment of specific tasks to relevant parties.

Limitations

In this thesis, the author admits several points that have not been done, as follows:

Firstly, the author only studies customers using the company's products and services, not customers who have not used or have used but left the company's services

This study exclusively examines individual customers rather than companies or organizations, as the author recognizes that business decision-making differs significantly from individual behavior Consequently, assessing loyalty using the SERVQUAL model proves challenging in a corporate context Furthermore, customers purchasing products from company-contracted outlets may not exhibit genuine loyalty to the brand's offerings.

Third, the research has not shown the difference in loyalty of men and women, the difference between customer groups by age, culture, income…

Fourth, the study uses a representative sample that is not 100% of the sample, so the research results may be limited.

Implications

The author proposes further research directions for future studies from these research limitations

In the near future, the author plans to further investigate factors influencing customers' intentions to utilize or discontinue services offered by Phu Thanh Investment JSC.

In the future, the author plans to address this issue by examining the loyalty of corporate customers It is important to note that the sample size is relatively small, with only 92 corporate customers in 2021, which may complicate the analysis.

Future research should focus on understanding the differences in loyalty between men and women, as well as variations among customer groups based on age, culture, and income This analysis is essential for developing innovative and effective solutions.

To enhance the inference capabilities of future studies, it is advisable to broaden the investigation scale to improve reliability and adjust the scales for better suitability Additionally, employing probabilistic sampling methods can further enhance the model's representativeness and generalizability.

1 Baskerville, R L., & Wood-Harper, A T (1996) A critical perspective on action research as a method for information systems research Journal of information Technology, 11(3), 235-246

2 Biscaia, A R., Rosa, M J., Moura, P., & Sarrico, C S (2017) Assessing customer satisfaction and loyalty in the retail sector International Journal of Quality & Reliability Management, 34(9), 1508 - 1529 doi:https://doi.org/10.1108/IJQRM-03-2015-0039

3 Burns, D J., & Neisner, L (2006) Customer satisfaction in a retail setting: The contribution of emotion International Journal of Retail & Distribution Management, 34(1), 49-66 doi:https://doi.org/10.1108/09590550610642819

4 Chase, R B (2010) Revisiting “Where does the customer fit in a service operation?” In Handbook of service science (pp 11-17): Springer

5 Công ty Cổ phần Đầu tư Phú Thành (2019), Báo cáo kết quả kinh doanh, Tài liệu lưu hành nội bộ

6 Công ty Cổ phần Đầu tư Phú Thành (2020), Báo cáo kết quả kinh doanh, Tài liệu lưu hành nội bộ

7 Công ty Cổ phần Đầu tư Phú Thành (2021), Báo cáo kết quả kinh doanh, Tài liệu lưu hành nội bộ

8 Cook, S (2010) Customer care excellence: How to create an effective customer focus: Kogan page publishers

9 Cronin Jr, J J., & Taylor, S A (1992) Measuring service quality: a reexamination and extension Journal of marketing, 56(3), 55-68

10 Cuong, D T (2020) The effect of physical environment and perceived value on customer satisfaction and behavioral intention at the cinema in Vietnam Test Engineering and Management, 82(1-2), 1665-1674

11 Glynn, W J., & Lehtinen, U (1995) The concept of exchange: interactive approaches in services marketing In (pp 89-118) New York: John Wiley & Sons

12 Gomez, M I., McLaughlin, E W., & Wittink, D R (2004) Customer satisfaction and retail sales performance: an empirical investigation Journal of retailing, 80(4), 265-278

13 Gronroos, C (1990) Relationship approach to marketing in service contexts: The marketing and organizational behavior interface Journal of Business Research, 20(1), 3-11

14 Grửnroos, C (1984) A service quality model and its marketing implications

European Journal of marketing, 18(4), 36-44 doi:ttps://doi.org/10.1108/EUM0000000004784

15 Grửnroos, C (2017) On value and value creation in service: a management perspective Journal of Creating Value, 3(2), 125-141

16 Gummesson, E (1995) Relationship marketing: its role in the service economy

17 Gummesson, E (1998) Productivity, quality and relationship marketing in service operations In Handbuch Dienstleistungsmanagement (pp 843-864): Springer

18 Hair, J J F., Hult, G T M., Ringle, C., & Sarstedt, M (2016) A primer on partial least squares structural equation modeling (PLS-SEM): Sage publications

19 Hunneman, A., Verhoef, P C., & Sloot, L M (2021) The impact of hard discounter presence on outlet satisfaction and outlet loyalty Journal of Retailing and Consumer Services, 59, 102405

20 Jahan, N., Ali, M J., & Al Asheq, A (2020) Examining the key determinants of customer satisfaction Internet banking services in Bangladesh Academy of Strategic Management Journal, 19(1), 1-6

21 Jasek, P., Vrana, L., Sperkova, L., Smutny, Z., & Kobulsky, M (2018) Modeling and application of customer lifetime value in online retail Paper presented at the

22 Keller, K L (1993) Conceptualizing, measuring, and managing customer-based brand equity Journal of marketing, 57(1), 1-22

23 Keller, K L., & Brexendorf, T O (2019) Measuring brand equity Handbuch Markenführung, 1409-1439

24 Kotler, P (2003) Marketing căn bản Hà Nội: Nhà xuất bản Thống Kê

25 Lewis, B R., & Mitchell, V W (1990) Defining and measuring the quality of customer service Marketing intelligence & planning, 8(6), 11-17 doi:https://doi.org/10.1108/EUM0000000001086

26 Marín-García, A., Gil-Saura, I., & Ruiz-Molina, M.-E (2022) Do innovation and sustainability influence customer satisfaction in retail? A question of gender

27 Nguyễn Văn Thắng (2014) Giáo trình Thực hành nghiên cứu trong Kinh tế và Quản trị Kinh doanh Hà Nội: NXB Đại học Kinh tế Quốc dân

28 Nunnally, J C (1994) Psychometric theory 3E: Tata McGraw-Hill Education

29 Parasuraman, A., Zeithaml, V A., & Berry, L (1988) SERVQUAL: A multiple- item scale for measuring consumer perceptions of service quality 1988, 64(1), 12-

30 Phạm Thị Huyền, & Nguyễn Hoài Long (2018) Giáo trình Marketing Dịch vụ

Hà Nội: Nhà xuất bản Đại học Kinh tế Quốc dân

31 Prasad Kotni, V., & Karumuri, V (2018) Application of Herzberg Two-Factor Theory Model for Motivating Retail Salesforce IUP Journal of Organizational Behavior, 17(1), 24-42

32 Sasono, I., JUBAEDI, A D., NOVITASARI, D., WIYONO, N., RIYANTO, R., OKTABRIANTO, O., WARUWU, H (2021) The impact of e-service quality and satisfaction on customer’s loyalty: Empirical evidence from internet banking users in Indonesia The Journal of Asian Finance, Economics and Business, 8(4), 465-473

33 Tran, P K T., Nguyen, V K., & Tran, V T (2020) Brand equity and customer satisfaction: a comparative analysis of international and domestic tourists in Vietnam Journal of Product & Brand Management, 30(1), 180-194 doi:https://doi.org/10.1108/JPBM-08-2019-2540

34 Vakulenko, Y., Shams, P., Hellstrửm, D., & Hjort, K (2019) Online retail experience and customer satisfaction: the mediating role of last mile delivery The

International Review of Retail, Distribution and Consumer Research, 29(3), 306-

35 Verhoef, P C., Van Doorn, J., & Dorotic, M (2007) Customer value management: an overview and research agenda Marketing-Journal of Research and Management, 3(2), 105-120

36 Ying, S., Sindakis, S., Aggarwal, S., Chen, C., & Su, J (2021) Managing big data in the retail industry of Singapore: Examining the impact on customer satisfaction and organizational performance European Management Journal, 39(3), 390-400

37 Yol, S., Serenko, A., & Turel, O (2006) Moderating roles of user demographics in the American customer satisfaction model within the context of mobile services

38 Zeithaml, V A., Berry, L L., & Parasuraman, A (1996) The behavioral consequences of service quality Journal of marketing, 60(2), 31-46.

In-depth interview guidelines

A Thông tin chung về người được phỏng vấn

3 Thời gian bắt đầu mua hàng hóa tại Công ty cổ phần Phú Thành

4 Số lượng mua hàng hóa tại công ty

5 Số lượng mua hàng hóa ngoài công ty

B Câu hỏi chính trong phỏng vấn

Khi đánh giá chất lượng, số lượng và giá cả khi mua hàng hóa tại cửa hàng của Công ty cổ phần đầu tư Phú Thành, nhiều khách hàng đã có những phản hồi tích cực về sự đa dạng của sản phẩm và giá cả hợp lý Tuy nhiên, cũng có những ý kiến tiêu cực liên quan đến chất lượng sản phẩm không đồng nhất và dịch vụ khách hàng chưa thực sự tận tâm Việc cân nhắc giữa ưu điểm và nhược điểm này sẽ giúp khách hàng có cái nhìn tổng quan hơn về trải nghiệm mua sắm tại đây.

Bạn đã từng mua hàng hóa từ các cửa hàng khác ngoài Công ty cổ phần Phú Thành chưa? Nếu có, xin vui lòng chia sẻ những đánh giá của bạn về chất lượng sản phẩm, số lượng và giá cả của những cửa hàng đó so với các sản phẩm của Công ty cổ phần Đầu tư Phú Thành Chúng tôi rất mong nhận được ý kiến của bạn để có cái nhìn tổng quan hơn về sự khác biệt giữa các cửa hàng.

Trong quá trình mua sắm tại các cửa hàng của Công ty cổ phần đầu tư Phú, bạn có hài lòng với sự phục vụ của nhân viên không? Xin vui lòng cung cấp ví dụ cụ thể Chúng tôi muốn thăm dò ý kiến về những điểm bạn hài lòng và chưa hài lòng liên quan đến nhân viên, bao gồm thái độ, trang phục và kỹ năng bán hàng.

Cửa hàng của Công ty cổ phần đầu tư Phú Thành có vị trí thuận lợi và dễ tiếp cận, với biển hiệu trang trí bắt mắt, thu hút khách hàng Hệ thống công nghệ máy móc hiện đại giúp tối ưu hóa quy trình phục vụ, trong khi diện tích cửa hàng rộng rãi tạo không gian thoải mái cho việc trưng bày hàng hóa Ví dụ, các sản phẩm được sắp xếp hợp lý, giúp khách hàng dễ dàng tìm kiếm và lựa chọn.

Dịch vụ hỗ trợ sau bán hàng của Công ty cổ phần Phú Thành đã đáp ứng nhu cầu của khách hàng chưa? Xin vui lòng cung cấp ví dụ cụ thể về trải nghiệm của bạn với dịch vụ này.

6 Anh/chị có đề xuất gì hỗ trợ thêm khi mua hàng tại cửa hàng của Công ty cổ phần Đầu tư Phú Thành?

Nếu có cửa hàng hàng hóa khác gần cửa hàng của Công ty cổ phần đầu tư Phú Thành, anh chị có tiếp tục mua hàng tại đây không? Xin vui lòng chia sẻ lý do cho sự lựa chọn của mình.

8 Quý khách mong muốn đến khía cạnh nào nhất khi mua hàng hóa tại các cửa hàng hàng hóa? Xin vui lòng cho biết lý do?

Khi mua hàng tại các cửa hàng của Công ty cổ phần đầu tư Phú Thành, điều làm tôi hài lòng nhất là chất lượng sản phẩm và dịch vụ khách hàng tận tâm Tuy nhiên, tôi không hài lòng về thời gian giao hàng thường kéo dài, điều này ảnh hưởng đến trải nghiệm mua sắm của tôi.

10 Theo Anh/chị các cửa hàng của Công ty cổ phần đầu tư Phú Thành cần làm gì để gia tăng lòng trung thành của khách hàng ?

Chúng tôi rất mong muốn biết ý kiến của bạn về việc giới thiệu khách hàng khác đến các cửa hàng của Công ty cổ phần đầu tư Phú Thành Sự hài lòng và trải nghiệm tích cực của bạn sẽ là lý do quan trọng để khuyến khích bạn giới thiệu sản phẩm và dịch vụ của chúng tôi cho người khác.

A General information about the interviewee

3 Time to start buying goods at Phu Thanh Investment JSC

4 Quantity of goods purchased at the company

5 Quantity purchased outside the company

B Main questions in the interview

When evaluating the quality, quantity, and price of goods at the Phu Thanh Investment JSC outlet, customers often highlight the competitive pricing and satisfactory product quality as significant positives Many reviews commend the variety of products available, emphasizing the outlet's ability to cater to diverse consumer needs However, some negative feedback points to occasional inconsistencies in product availability and quality, suggesting that while the outlet generally offers good value, there are instances where expectations may not be met Overall, shoppers appreciate the balance of affordability and selection, though they advise potential buyers to remain mindful of these occasional discrepancies.

When considering purchases from outlets other than Phu Thanh Investment JSC, how do you evaluate the quality, quantity, and pricing of their products and services in comparison? Share your insights on how these alternatives measure up against the offerings of Phu Thanh Investment JSC.

When purchasing items from Phu Thanh Investment JSC outlets, how satisfied were you with the staff's service? Please provide specific examples highlighting both positive and negative aspects, such as their attitude, attire, and sales skills.

4 How do you feel about the outlet location, color decoration, machine technology system, and the area of the goods outlet of Phu Thanh Investment JSC? Please give specific examples?

5 Is the after-sales support service of Phu Thanh Investment JSC 's outlet satisfied for you? Please give specific examples?

6 Do you have any suggestions for additional support when buying at the Phu Thanh Investment JSC outlet?

When considering whether to continue shopping at Phu Thanh Investment JSC despite the presence of nearby competitors, it’s essential to evaluate factors such as product quality, pricing, customer service, and overall shopping experience If Phu Thanh Investment JSC consistently offers superior products or exceptional service, customers may prefer to remain loyal Conversely, if alternative outlets provide better value or a wider selection, shoppers might choose to explore those options Ultimately, personal preferences and experiences will significantly influence the decision to continue purchasing from Phu Thanh Investment JSC.

8 What aspect do you look forward to the most when buying goods at merchandise outlets? Please tell me the reason?

9 What makes you most satisfied or dissatisfied when buying goods at the outlets of Phu Thanh Investment JSC, please tell us the reason?

10 In your opinion, what should the outlets of Phu Thanh Investment JSC do to increase customer’s loyalty?

11 Are you willing to introduce other customers to buy goods at the outlets of Phu Thanh Investment JSC? Why?

Results of in-depth interview

Danh sách người trả lời phỏng vấn sâu

1 Lê Hoàng Anh Địa chỉ: Hà Nội

Thời gian mua hàng của công ty: khoảng 5 năm trở lại đây

Số lượng hàng hóa mua của công ty: bánh kẹo dùng để phục vụ cho trẻ em liên hoan, rượu bia ngoại

Số lượng mua ngoài công ty: tương tự như thế, nhưng bổ sung thêm các loại bánh cho trẻ em, bánh dùng biếu

2 Lê Thanh Tâm Địa chỉ: Hà Nội

Thời gian mua hàng của công ty: khoảng 8 năm trở lại đây

Số lượng hàng hóa mua của công ty: các loại bánh kẹo nhập khẩu, rượu ngoại dùng để ăn và biếu

Số lượng mua ngoài công ty: các loại bánh ăn ngay, thường mua tại các cửa hàng ăn nhanh

3 Nguyễn Thị Ngọc Diệp Địa chỉ: Hà Nam

Thời gian mua hàng của công ty: khoảng 3 năm trở lại đây

Số lượng hàng hóa mua của công ty: bánh kẹo và đồ ăn bình thường hàng ngày

Số lượng mua ngoài công ty: thường là sản phẩm phục vụ gia đình, mua ngay ngoài chợ, ít khi mua chỗ khác

4 Phan Thị Thu Hà Địa chỉ: Nam Định

Thời gian mua hàng của công ty: khoảng 3 năm trở lại đây

Số lượng hàng hóa mua của công ty: bánh kẹo – thường là đồ thắp hương Tôi đã mua hàng ở đây lâu rồi vì gần nhà

Số lượng mua ngoài công ty: ít khi mua ở chỗ khác

5 Trần Phúc Huy Địa chỉ: Nam Định

Thời gian mua hàng của công ty: khoảng 6 năm trở lại đây

Số lượng hàng hóa mua của công ty: bánh kẹo và đồ ăn bình thường hàng ngày

Số lượng mua ngoài công ty: mua nhiều ở nơi khác hơn, do công ty không có nhiều hàng hóa có thể đáp ứng yêu cầu của tôi

6 Nguyễn Thị Thúy Địa chỉ: Hà Nội

Thời gian mua hàng của công ty: khoảng 6 năm trở lại đây

Số lượng hàng hóa mua của công ty: hàng ngoại, dùng để biếu Ngoài ra cũng có mua

Số lượng mua ngoài công ty: cũng là những sản phẩm trên, nhưng mua ở ngoài

7 Phùng Văn Quang Địa chỉ: Hà Nội

Thời gian mua hàng của công ty: khoảng 2 năm trở lại đây

Số lượng hàng hóa mua của công ty: hoa quả khô, bánh kẹo và rượu, trong đó có 1 phần bánh kẹo ngoại

Số lượng mua ngoài công ty: tương tự như trên, do không thể có sản phẩm phù hợp với giá tiền

8 Mạc Thị Hải Yến Địa chỉ: Hà Nội

Thời gian mua hàng của công ty: khoảng 4 năm trở lại đây

Số lượng hàng hóa mua của công ty: bánh kẹo, thực phẩm và các sản phẩm liên quan Một phần mua các sản phẩm khô khác

Số lượng mua ngoài công ty: tương tự như trên, vì tiện đường đi làm thì mua

9 Nguyễn Thị Hải Yến Địa chỉ: Hà Nội

Thời gian mua hàng của công ty: khoảng 3 năm trở lại đây

Số lượng hàng hóa mua của công ty: công ty bán gì thì em mua nấy, vì sản phẩm đa phần đáp ứng được yêu cầu của em

Số lượng mua ngoài công ty: em có mua nhiều chứ, nhưng chủ yếu mua online Công ty có ship tận nơi cho em

10 Nguyễn Thị Bích Liên Địa chỉ: Hà Nội

Thời gian mua hàng của công ty: khoảng 4 năm trở lại đây

Số lượng hàng hóa mua của công ty: rượu và các loại bánh kẹo nhập ngoại, thường mua lẻ, không mua nhiều

Số lượng mua ngoài công ty: tương tự như trên, do không thể có sản phẩm phù hợp với giá tiền

List of in-depth interview respondents

Purchase time: about 5 years ago

Quantity of goods purchased by the company: confectionery used to serve children at festivals, foreign alcohol

Quantity purchased outside the company: same, but added cakes for children, cakes for gifts

Purchase time: about 8 years ago

Quantity of goods purchased by the company: imported confectionery, foreign wine for eating and gifting

Quantity purchased outside the company: instant cakes, usually bought at fast food stores

Purchase time: about 3 years ago

Quantity of goods purchased by the company: confectionery and normal food every day

Quantity purchased outside the company: usually products for home use, bought right at the market, rarely bought elsewhere

Purchase time: about 3 years ago

Quantity of goods purchased by the company: confectionery – usually incense burners I've been shopping here for a long time because it's close to home

Quantity purchased outside the company: rarely buy elsewhere

Purchase time: about 6 years ago

Quantity of goods purchased by the company: confectionery and normal food every day

Quantity purchased outside the company: buy more elsewhere, because the company does not have many goods that can meet my requirements

Purchase time: about 6 years ago

Quantity of goods purchased by the company: foreign goods, used for gifts There are also some local sweets to buy

Quantity purchased outside the company: the same products as above, but purchased from outside

Purchase time: about 2 years ago

Quantity of goods purchased by the company: dried fruit, confectionery and wine, including a part of foreign confectionery

Quantity purchased outside the company: same as above, because it is not possible to have the right product for the price

Purchase time: about 4 years ago

Quantity of goods purchased by the company: confectionery, food and related products Partially buy other dry products

Quantity purchased outside the company: same as above, because it is convenient to buy on the way to work

Purchase time: about 3 years ago

Quantity of goods purchased by the company: I buy whatever the company sells, because most of the products meet my requirements

Quantity purchased outside the company: I buy a lot, but mainly buy online The company can ship to my place

Purchase time: about 4 years ago

Quantity of goods purchased by the company: imported wine and confectionery products, often purchased individually, not much

Quantity purchased outside the company: same as above, because it is not possible to have the right product for the price

When evaluating the quality, quantity, and price of goods at Phu Thanh Investment JSC's store, customers often express mixed feelings Positive reviews highlight the competitive pricing and satisfactory quality of products, making them a popular choice for budget-conscious shoppers However, some negative feedback points to inconsistencies in product availability and occasional quality concerns Overall, potential buyers should consider both the favorable pricing and the varying quality when making purchasing decisions at this store.

Many consumers perceive the products as high-quality and well-priced, appreciating their appealing designs A significant selection of items is readily available or can be quickly restocked, ensuring accessibility Additionally, consumer goods are not associated with food safety issues, leading many to prioritize safety as a key factor in their purchasing decisions.

Many products lack proper stamps to verify their manufacturing origins, making it difficult for consumers to identify them clearly Additionally, items can often be found at lower prices on alternative platforms, as purchasing options like Shopee are unavailable For instance, popular bottles of wine, such as Chivas 21, are widely available at various retailers, often at more competitive prices than those offered by the company itself.

When considering purchases from other stores besides Phu Thanh JSC, how do customers evaluate the quality, quantity, and pricing of products compared to those offered by Phu Thanh Investment JSC? Insights into customer perceptions can reveal important comparisons regarding the overall value and service quality of goods across different retailers.

The majority of respondents confirmed that confectionery items, such as soft candy products, and foreign alcohol are widely available in various market shops Additionally, social media platforms like Facebook frequently showcase advertisements for these products from different retailers.

Reason: although the company's goods are quite good, there are some problems as follows:

When selecting products, opting for external packaging can enhance their appeal, as many goods share similar designs For instance, consider a bottle of Chivas; while the design remains consistent, the addition of an elegant box elevates its perceived luxury, distinguishing it from other models.

- The number of goods is more diverse and beautiful than the company's compared to some other units

The pricing of the parties is comparable, much like shopping on Shopee However, for frequent buyers like Mr Huy, there are limited incentives for repeat purchases, unlike other competitors who offer discounts.

When shopping at Phu Thanh Investment JSC stores, customers often notice the staff's level of satisfaction Specific examples include the staff's friendly attitude, professional clothing, and effective sales skills, which contribute positively to the shopping experience However, areas for improvement may arise, such as the need for enhanced product knowledge or more attentive service, highlighting both satisfaction and dissatisfaction regarding the store staff.

Staff responded to requests Also enthusiastic, also wearing uniform, welcoming

One criticism of the service is its heavy emphasis on sales rather than offering valuable advice on pricing and suitable items, particularly for gift-giving needs Additionally, the staff's limited knowledge of luxury goods and lack of guidance on gift options further detracts from the customer experience.

4 How do you see the store location, color decoration signs, machine technology system, and the area of the goods store of Phu Thanh Investment JSC? Please give specific examples?

Convenience stores offer quick accessibility and stable facilities, providing comfortable seating for customers waiting while others shop The store's attractive layout enhances the shopping experience, creating a luxurious atmosphere that appeals to shoppers.

The store boasts an attractive design; however, it lacks online sales options, which limits purchasing convenience Although there is a hotline available for inquiries, response times can be challenging due to high call volumes.

5 Is the after-sales support service of Phu Thanh JSC's store satisfied for you? Please give specific examples?

The service has basically met the customer's requirements

Some customers believe that the product quality is compromised, citing issues like candy melts or stained wine bottles, leading to unresponsive customer service Furthermore, the after-sales support does not align with the pricing, and purchasing in larger quantities does not yield significant discounts.

6 Do you have any suggestions for additional support when buying at the Phu Thanh Investment JSC store?

Employees are more attentive to customer needs The company's products need to be more beautiful and register a trademark, for example

In addition, the company can sell more online for comfort

The company boasts a stunning location; however, it is essential to enhance the environment by providing customers with enjoyable spaces to relax and socialize while waiting for their friends.

If there are competing stores near Phu Thanh Investment JSC, would you still choose to shop there? Please explain your reasoning.

Firstly, still buy because you can call to order

Second, do not buy because it is more convenient, can compare goods, prices, and staff attitudes

8 What aspect do you look forward to the most when buying goods at merchandise stores? Please tell me the reason?

The primary focus should be on the product quality, followed by the dedication of the company's employees to customer satisfaction Additionally, the store's image—whether it is appealing, luxurious, or inviting—plays a crucial role, along with the importance of providing excellent after-sales service.

Some customers think that price is also important, reflected in the after-sales

9 What makes you most satisfied or dissatisfied when buying goods at the stores of Phu Thanh Investment JSC, please tell us the reason?

Usually the product, then the company staff who are interested in customer needs, then after-sales and then the price

10 What do the Phu Thanh Investment JSC stores need to do to increase customer’s loyalty?

Like I said, keep making the product friendlier, trademarked

Questionnaire

Kính gửi Quý khách hàng, chúng tôi đang tiến hành nghiên cứu về lòng trung thành của khách hàng khi mua sắm tại Công ty cổ phần Phú Thành Để đánh giá chính xác, chúng tôi đã phát triển một bảng câu hỏi gửi đến 180 khách hàng đã mua hàng trực tiếp tại các cửa hàng của công ty Ý kiến của Quý khách sẽ đại diện cho nhóm khách hàng tiêu dùng chính Chúng tôi rất mong Quý khách dành chút thời gian để trả lời các câu hỏi sau về trải nghiệm mua sắm của mình tại Công ty cổ phần Phú Thành.

Quý khách vui lòng đánh dấu (x) vào ô tương ứng với mức độ quan trọng và lòng trung thành cho từng tiêu chí đánh giá, theo thang điểm từ.

Quý khách kỳ vọng thế nào về các tiêu chí dưới đây?

Quý khách thấy mình hài lòng như thế nào khi mua hàng tại cửa hàng của Công ty cổ phần Đầu tư Phú Thành?

R ất k h ô n g q u an tr ọng Kh ô n g q u an tr ọng Kh ô n g q u an tâm Qu an tr ọn g R ất q u an tr ọng R ất k h ô n g h ài lò n g Kh ô n g h ài lò n g Bìn h th ườ ng

Hà i lò n g R ất h ài lò n g

1 Chất lượng hàng hóa đảm bảo?

(nhìn chung, chất lượng hàng hóa cao hơn so với các loại bánh kẹo và mặt hàng khác mà tôi mua trên cùng địa bàn)

2 Số lượng hàng hóa (hàng hóa luôn có đủ chủng loại phù hợp với nhu cầu của tôi khi mua để biếu tặng hoặc các nhu cầu khác)

3 Giá bán hàng hóa phù hợp chung các cửa hàng đơn vị khác

4 Sự an toàn trong khi sử dụng hàng hóa (an toàn vệ sinh thực phẩm)

Quý khách kỳ vọng thế nào về các tiêu chí dưới đây?

Quý khách thấy mình hài lòng như thế nào khi mua hàng tại cửa hàng của Công ty cổ phần Đầu tư Phú Thành?

R ất k h ô n g q u an tr ọng Kh ô n g q u an tr ọng Kh ô n g q u an tâm Qu an tr ọn g R ất q u an tr ọng R ất k h ô n g h ài lò n g Kh ô n g h ài lò n g Bìn h th ườ ng

Hà i lò n g R ất h ài lò n g

II Nhân viên cửa hàng

1 Sự thân thiện, nhiệt tình, trung thực của nhân viên CH

2 Kiến thức về sản phẩm, sự tư vấn, hướng dẫn của nhân viên CH

3 Sự chuyên nghiệp của nhân viên

CH trong bán hàng (Trang phục, thao tác, kỹ năng giao tiếp khách hàng)

III Hình ảnh của cửa hàng

1 Vị trí của cửa hàng

2 Biển hiệu trang trí, màu sắc, thiết kế, sắp xếp tại cửa hàng

4 Hệ thống công nghệ, máy phục vụ cho bán hàng

IV Dịch vụ hỗ trợ sau bán hàng

1 Những tiện ích tại cửa hàng (nước uống, khu vệ sinh, nghỉ ngơi, mua sắm….) phục vụ cho khách hàng

2 Thời gian giải quyết khiếu nại

3 Cách thức cửa hàng giải quyết khiếu nại

4 Kết quả cửa hàng giải quyết khiếu nại

Các ý kiến và đề xuất khác nhằm nâng cao lòng trung thành của khách hàng:

Trân Trọng cảm ơn Quý khách!

To enhance customer service, we are investigating customer loyalty at Phu Thanh Joint Stock Company We conducted a survey through a questionnaire aimed at evaluating customer loyalty among 180 direct shoppers at our stores We kindly ask you to share your thoughts and experiences regarding your shopping visits to our outlets.

Please check (x) in the box corresponding to the level of importance and check (x) in the box corresponding to loyalty for each evaluation criterion, on a scale of 1 to

What are your expectations about the following criteria?

How satisfied are you with your purchase?

Ve ry u n imp o rtan t Un imp o rta n ce Ne u tral Im p o rtan ce Ve ry imp o rtan ce Ve ry U n sa ti sfie d Un sa ti sfie d Ne u tral

S ati sfiê d Ve ry sa ti sfie d

1 Quality of goods guaranteed? (in general, the quality of goods is higher than other confectionery and other items that I buy in the same area)

2 Quantity of goods (goods always have all kinds of goods suitable for my needs when buying for gifts or other needs)

3 The selling price of goods is in line with other outlets and units

4 Safety while using goods (food safety and hygiene)

1 The friendliness, enthusiasm, honesty of the outlet staff

2 Product knowledge, advice and guidance of outlet staff

3 The professionalism of the outlet's staff in sales (Apparel, manipulation, customer communication skills)

1 The location of the company and its retail outlets of confectionery,

What are your expectations about the following criteria?

How satisfied are you with your purchase?

Ve ry u n imp o rtan t Un imp o rta n ce Ne u tral Im p o rtan ce Ve ry imp o rtan ce Ve ry U n sa ti sfie d Un sa ti sfie d Ne u tral

S ati sfiê d Ve ry sa ti sfie d

2 Decorative sign, color, design, arrangement of the outlet

3 Large sales area, beautifully equipped, impressive feeling

4 Technology systems, machines for sales

1 The conveniences of the outlet

(drinking water, toilets, rest, shopping…) serve customers

3 How the outlet handles complaints

4 Result of the complaint settlement outlet

Your comments and suggestions to improve customer’s loyalty:

Survey results

1 Quality of goods guaranteed? (in general, the quality of goods is higher than other confectionery and other items that I buy in the same area)

2 Quantity of goods (goods always have all kinds of goods suitable for my needs when buying for gifts or other needs)

3 The selling price of goods is in line with other outlets and units 4.11 3.43

4 Safety while using goods (food safety and hygiene) 4.49 4.49

1 The friendliness, enthusiasm, honesty of the outlet staff 4.58 2.49

2 Product knowledge, advice and guidance of outlet staff 4.09 3.99

3 The professionalism of the outlet's staff in sales (Apparel, manipulation, customer communication skills)

1 The location of the company and its retail outlets of confectionery, alcohol… is convenient 4.47 4.52

2 Decorative sign, color, design, arrangement of the outlet 3.52 3.91

3 Large sales area, beautifully equipped, impressive feeling 3.70 2.79

4 Technology systems, machines for sales 4.34 4.66

1 The conveniences of the outlet (drinking water, toilets, rest, shopping…) serve customers

3 How the outlet handles complaints 3.16 2.71

4 Result of the complaint settlement outlet 4.02 4.29

Cronbach’s Alpha

Total 169 100.0 a Listwise deletion based on all variables in the procedure

Cronbach’s Alpha Based on Standardized Items

Mean Minimum Maximum Range Maximum /

Scale Mean if Item Deleted

Scale Variance if Item Deleted

Cronbach’s Alpha if Item Deleted

Total 169 100.0 a Listwise deletion based on all variables in the procedure

Cronbach’s Alpha Based on Standardized Items

Mean Minimum Maximum Range Maximum /

Scale Variance if Item Deleted

Cronbach’s Alpha if Item Deleted

Total 169 100.0 a Listwise deletion based on all variables in the procedure

Cronbach’s Alpha Based on Standardized Items

Mean Minimum Maximum Range Maximum /

Scale Mean if Item Deleted

Scale Variance if Item Deleted

Cronbach’s Alpha if Item Deleted

Total 169 100.0 a Listwise deletion based on all variables in the procedure

Cronbach’s Alpha Based on Standardized Items

Mean Minimum Maximum Range Maximum /

Scale Mean if Item Deleted

Scale Variance if Item Deleted

Cronbach’s Alpha if Item Deleted

Total 169 100.0 a Listwise deletion based on all variables in the procedure

Cronbach’s Alpha Based on Standardized Items

Mean Minimum Maximum Range Maximum /

Scale Variance if Item Deleted

Cronbach’s Alpha if Item Deleted

Kaiser-Meyer-Olkin Measure of Sampling Adequacy .723

Component Initial Eigenvalues Extraction Sums of Squared Loadings Rotation Sums of Squared Loadings

Total % of Variance Cumulative % Total % of Variance Cumulative % Total % of Variance Cumulative %

Extraction Method: Principal Component Analysis

Extraction Method: Principal Component Analysis

Rotation Method: Varimax with Kaiser Normalization a Rotation converged in 5 iterations

Kaiser-Meyer-Olkin Measure of Sampling Adequacy .795

Component Initial Eigenvalues Extraction Sums of Squared Loadings

Total % of Variance Cumulative % Total % of Variance Cumulative %

Extraction Method: Principal Component Analysis

1 LOYALTY4 852 LOYALTY3 805 LOYALTY2 789 LOYALTY1 771 Extraction Method: Principal Component Analysis a 1 components extracted

Enter a Dependent Variable: LOYALTY b All requested variables entered

Std Error of the Estimate

1 ,756 a ,571 ,551 ,37675 1,469 a Predictors: (Constant), AFTERSALE, PRODUCT, STAFF, IMAGINE b Dependent Variable: LOYALTY

Model Sum of Squares df Mean Square F Sig

Total 28,145 89 a Dependent Variable: LOYALTY b Predictors: (Constant), AFTERSALE, PRODUCT, STAFF, IMAGINE

Standardized Coefficients t Sig Collinearity Statistics

B Std Error Beta Tolerance VIF