Influence of Market Penetration Strategies on Organizational Growth in the Steel Industry in Kenya
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Date
2018Author
Murguiyia, Reuben K
Type
ThesisLanguage
enMetadata
Show full item recordAbstract
products offered are similar in nature and the nature of competitive rivalry is high. In
these kinds of industries, firms that try to gain large market share make high returns and
strive to survive and grow must develop a competitive strategy. Other companies have
been kicked out of the business and shut down due to failure to adopt strategies for their
survival and growth. The main aim of this study was to establish the influence of market
penetration on organizational growth of Steel firms in Kenya. To meet the objectives of
the study, the researcher used a cross sectional survey design. The population of the study
comprised of all steel industries and firms in the Kenyan market. The target population
were the key players of the 100 companies dealing with roofing products and steel beams
and long products as per data from KAM database. Questionnaires was use to collect
primary data, and data was summarized and analyzed using descriptive methods of
statistics. The study found that market penetration strategies influence organizational
growth of firms in the Steel industry. It was also noted that the companies in the Steel
industry used a mixture of strategies which included marketing promotion and enhancing
distribution channels promotion and advertising pricing and diversification. The study
concludes that the penetration strategies are highly effective in any organisation as
growth is dependent on them. This reflected in the market share attained by some steel
manufacturing companies, increased profits and increased production. The study
recommends that the Steel manufacturing firms in Kenya have to regularly carry out
market research to analyze the prevailing market trends and gain understanding as they
seek to identify their strengths, weaknesses and maximize on the opportunities and avoid
threats. The findings of the study will therefore help companies find out if their strategy
is in line with their set Vision and mission and realign their goals and objectives to ensure
they are realistic and achievable.
Publisher
university of nairobi
Rights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
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