Corporate Renewal Strategies Adopted by Selected Supermarket in Kenya to Sustain Market Share

Abstract

The main management strategy of the retail stores is to increase market share by acquiring more customers and increasing transactions. In Kenya, there are many retail supermarkets but the most known and dominant nationally. All these supermarkets compete for the market share across the country with other unknown and local retail supermarkets. It is from this problem that the current study was motivated to seek for an answer to the question that; how does corporate renewal strategies sustain market share of retail supermarkets in Kenya? The main objective of the study was to establish corporate renewal strategies adopted by selected supermarkets in Kenya to sustain market share. The foundation of the study was guided by a theory opined by Porter’s five forces theory explaining business attractiveness and possibility of making profits. The study did employ descriptive survey research design. The target population for the study was 35 top management employees of the selected retail supermarkets. The study did employ census technique to sample the target population.The study used structured questionnaires and interview schedule to obtain information from the key informants.The study did use descriptive statistics to analyze quantitative data for the study and content analysis for results emanating from interview schedules. The study found that product designing, cost minimization and new market development corporate renewal strategies have an influence in sustaining market share performance of supermarkets. Supermarket management needs to employ corporate renewal strategies in order to remain a float in competitive market scenarios.