Marketing Strategies and Competitive Advantage in Selected Commercial Banks in Nakuru County, Kenya
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Date
2023
Authors
Ogega, Dominic Onyando
Anyieni, Abel
Journal Title
Journal ISSN
Volume Title
Publisher
IJIRAS
Abstract
Abstract: Kenyan commercial banks are intensely competitive, necessitating the creation of competitive tactics to
maintain their survival. These commercial banks must consider both how to enter a market and how to enhance and
maintain their competitive position. The purpose of this research was to see how selected banks in Nakuru County, Kenya,
react strategically to banking competition. The study examined how marketing strategies affected competition in the
baking industry in Nakuru, Kenya. The 31 commercial banks in Nakuru County were the study's target population, and
the respondents were the operations and strategy management of those banks. Among the 31 commercial banks in
Nakuru's CBD, there were 70 operational and strategic managers. In this study, the census method was employed as the
sampling technique. Primary data was used in this study. Data was collected using structured questionnaires and the data
was analyzed using SPSS. The study found out that there was a positive significant association between marketing
strategies on competitive advantage in selected commercial banks. The researcher concluded that the institution applies
market relative strategies such as market penetrant strategy, new user strategy and geographic expansion strategy. The
researcher recommended that since most respondents felt that commercial banks were not doing enough in the area of
promoting their products, it is of paramount importance that they become more aggressive in advertising, personal selling
and sales promotion so as to tap potential consumers who up to date do have bank accounts.
Description
Article
Keywords
Marketing, strategies, commercial banks, Nakuru, Kenya
Citation
Ogega, D. O., & Anyieni, A. Marketing Strategies And Competitive Advantage In Selected Commercial Banks In Nakuru County, Kenya.