The relationship between marketing strategies and the performance of savings and credit societies in Mombasa district
The purpose of this study was to examine the relationship between the marketing strategies and performance of the SACCOs in Mombasa District. The specific objectives of this study included, identifying the marketing strategies used by SACCOs, evaluating the performance of SACCOs and to find out the relationship between the marketing strategies used by SACCOs in Mombasa District and their respective performance. Literature review regarding marketing strategies as presented by various scholars was carried out. It was revealed that generic set of strategies like product differentiation, cost leadership and focus or niches presented by Porter can put a business that is on the verge of collapse on course. The study used a descriptive research design to evaluate the effects of the marketing strategies on the performance of SACCOs. The target population constituted the chief executive officer, the marketing manager and the loans manager/officer. A census population of 84 respondents was considered for this study. The data collection procedure for this study involved t he use of both primary and secondary data collection using research instruments like questionnaires, personal structured interviews, books, journals, strategic plans, internet, and magazines. The collected data was coded and analyzed statistically. Quantitative data was analyzed using descriptive statistics while qualitative data was analyzed using analysis of variance (ANOV A). Data collected was presented using tables, figures/percentages, graphs, and descriptions. The findings of the study revealed a causal relationship between marketing strategies and the performance of SACCOs. Most of these organizations pursue strategies like product differentiation, niche marketing as they pursue to be perceived as the cheapest in the markets in terms of cost. The researcher concludes by giving recommendations on policy and further research areas which can lead to better performance of the SACCO sector.