Competitive Strategies Adopted by Kenyan Commercial Banks to Attract and Retain Corporate Customers

Abstract

This project investigates the competitive strategies that the Kenyan commercial banks adopt to attract and retain corporate customers. The research uses theoretical frameworks that have been drawn from the literature on the generic competitive strategies and other adaptation strategies. On the research framework, the research investigates the corporate customer attraction and retention strategies and the various forms of responses that are used in the process. The project finds that commercial banks adopt different strategies in its efforts to attract and retain corporate customers, namely the competitive strategies and adaptation strategies. Competitive strategies include cost leadership, differentiation and focus strategies while adaptation strategies include defender, prospector analyzer and reactor. The project provides a model for understanding the competitive and adaptation strategies and makes a contribution to corporate customers’ attraction and retention strategies among the Kenyan Commercial Banks.