Corporate brand promise as a basis of building competitive advantage in the banking industry in Kenya.

Abstract

Corporate brand promises have become the ultimate competitive asset because ‗they last forever, are infinitely scalable, create enormous premiums, and are portable across products and even categories. Yet the profile of the consumer has changed over the years because consumers now know more about products since they can compare prices and exchange opinions with other consumers via the internet. This study therefore sought to fill the existing research gap by carrying out a survey study on the application of corporate brand promise as a basis of building competitive advantage in the banking industry in Kenya. The main purpose of the study was to investigate into how corporate brand assist in building competitive advantage in the banking industry. This research was conducted through a survey study. The target population of this study was the managerial staff working for the major commercial banks in Kenya. The study focused particularly on the departmental heads of these pivotal banks in the country. This paper utilized a questionnaire as used in various previous similar research projects. This study collected quantitative data using a self-administered questionnaire. The response received was analyzed by descriptive analysis. From the findings, the study established from the majority of respondents that the effective implemented corporate brand actually do assist in building competitive advantage in the banking industry for better for performance to be effective in a very great extent. The study further established that most of the respondents were in agreement that the corporate brand is a comprehensive important measurement and mitigation method used for various organizations hence much important if effectively implemented and utilized . This study therefore recommends that in order to build a competitive advantage in the banking industry, the firms should make sure that its strategies are sufficient to enable administration and management of corporate brand with management prudence and getting them advice promptly for effective positioning