We can't do directory submission again and again so if keyword position is dropped after some time on which process we should work on. Do we need to work on all again or any one process.?
Add press Release and 3 way link building via email contact with relevant webmasters, Submission to ezines and RSS search engines(make RSS of your site) are other ways .
Yes give equal importance to each method. And keep in mind that you have to promote site in high PR sites.
All the above used sources are good for keyword ranking. Juts put more concentration on article submisson and forum postings.SEcondly please make sure that the directories which you are using are do follow with good PR.
PR depends on so many factors like Google back links, keyword traffic, your site design, links in your pages. etc.