The Application of Relationship Marketing in Kenya Commercial Bank Limited

Abstract

The increasing globalization and technological advancement has increased marketing activities among and between nations. This has created stiff competition among firms indifferent industries. The banking industry in Kenya is dynamic and vibrant, playing a critical role in shaping the country’s economy. The industry has registered remarkable growth mainly driven by focused expansion strategies penetrating fertile regional markets and previously unbanked populations, innovation and focus on technology. This has made banks to adopt different marketing strategies for their products. This study was motivated by the need to establish the marketing strategies used by KCB and the extent of adoption and effect of the relationship marketing at KCB. To achieve this objective, the study collected primary and secondary data. The primary data was collected using open ended questionnaires and interviews. The data was collected from the marketing, sales, strategy and customer service departments. The collected data was then analysed using content analysis and the findings arranged in prose. The study found that there were mechanisms to ensure continuous feedback from customers since the bank had suggestion boxes where customers could air their views. Also the study found that staff members were tasked with engaging customers in relationship building and more staff members were consequently placed on the front office for ease of access for customers. The study recommended that KCB continue implementing more strategies on relationship marketing so as to attract more clients and thus command a bigger market share in the banking industry.