| dc.description.abstract | Marketing intelligence is the key fundamental of any business strategy and is the method of
turning raw data into valuable information, turning that valuable information into strategy, and
turning strategy into business performance which can maintain a company’s advantage. Standard
Chartered Bank has been selected for this study because of its steady performance despite the
fierce competition in the banking industry that has seen many Kenyan commercial banks
increase their branch network and marketing strategies.
The aim of this study was to examine the relationship between product development and
marketing intelligence by Standard Chartered Bank Kenya Limited. This was a case study since
the unit of analysis was one organization. It was a method of study in depth rather than breadth
and places more emphasis on the full analysis of a limited number of events or conditions and
other interrelations. The population for this study comprised all the 16 senior managers of
Standard chartered bank Kenya Limited. For the purpose of this study, 16 managers were
interviewed as they were deemed to have more pertinent information for the study. The
researcher used both primary and secondary data. Content analysis was used and the data was
then presented in a continuous prose as a qualitative report.
The study found that the Bank has developed new products like Diva Account, X-Account, Excel
Banking and Priority Banking. The bank used marketing intelligence in its products
development/modification by building brands through the creation of identities, interactions, and
experiences. The study concludes marketing intelligence has affected new product development
at the Bank through informing the bank on the possible features that would place the proposed
products more competitive in the market. The many new products are developed from looking at
competitors’ successes, and failures. This also involves developing business objectives, plans
and strategies since the ability to craft achievable objectives depends upon knowing the
competitive environment. This study recommends that the bank should make use of information
technology in its marketing intelligences in the development of new products that are technology
compliant to increase its performance in terms of product innovation, product development and
market orientation. The study also recommends that market intelligence should have a single minded
objective - to develop the strategies and tactics necessary to transfer market share
profitably and consistently from specific competitors to the company | en |
