The Role of Strategic Marketing in Enhancing Sustainable Competitiveness in The Marketplace: A Case of Selected Branches of National Bank, Nairobi, Kenya
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Date
2015-04
Authors
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Publisher
Daystar University, School of Business and Economics
Abstract
Fierce competition amongst commercial banks and government regulation has brought about significant policy shifts in the areas of marketing, product development and advertising. This study focused on the role of strategic marketing in enhancing sustainable competitiveness in the market place. It specifically sought to establish the role of strategic product innovation, strategic pricing rationalization, strategic promotions and strategic market expansions in enhancing sustainable competitiveness at National Bank of Kenya. The study adopted a descriptive survey design and targeted 210 participants comprising Branch manager, Branch operations manager, Heads of departments, clerical staff and direct sales representatives at National Bank of Kenya. The study took a sample of 20% hence generating a sample of 42 respondents. The study used stratified random sampling to collect both primary and secondary data. Primary data was collected using a semi-structured questionnaire with both close ended and open-ended questions. The questionnaires were administered through drop and pick method while others were mailed to the respondents. A pre-test was further conducted to ensure validity of the questionnaire. The data was analyzed using descriptive statistics and the findings were presented using tables and graphs for further analysis to facilitate comparison while explanation to the table and graphs were given in prose. Correlation and regression analysis were employed to facilitate interpretation of the results. The study found out that strategic product innovation, strategic pricing rationalization, strategic promotions and strategic market expansions enhanced sustainable competitiveness at National Bank of Kenya to a great extent. The study recommends that NBK should engage in vigorous product innovation strategies and market research, development of products and promotions to ensure that the bank achieves competitiveness.
Description
MASTER OF BUSINESS ADMINISTRATION in Marketing
Keywords
Fierce competition, commercial banks, government regulation, significant policy shifts, marketing
Citation
Odhiambo, O. A. (2015). The Role of Strategic Marketing in Enhancing Sustainable Competitiveness in The Marketplace: A Case of Selected Branches of National Bank, Nairobi, Kenya. Daystar University, School of Business and Economics