| dc.description.abstract | Companies use various competitive strategies to achieve the desired objectives. The company has to have competitive businesses in order to be sustainable. Increased competition threatens the attractiveness of an industry and reduces the profitability of the players. It exerts pressure on firms to be proactive and to formulate successful strategies that facilitate proactive response to anticipated and actual changes in the environment. The specific competitive market strategy variables to be used here will be the segmentation, price, delivery and distribution as well as the promotional strategies. The other two important variables to achieve a competitive advantage by banks have also been included namely risk management strategies and product or service differentiation strategies. The link between these competitive strategies and the financial performance of commercial banks form the framework of the study.
A case study approach was employed to determine the impact of competitive strategies on the financial performance of commercial banks specifically focussing on CfCStanbic Bank Ltd in Kenya. Content analysis was used to analyse the data collected in this study. The presentation of the analysis and interpretations was captured in two parts: the first part capturing the general information in regard to those sampled, while the second part was further subdivided into parts capturing; Segmentation Strategies; Price Strategies; Delivery and Distribution Strategies; Promotional Strategies; Risk management strategies; Product and service differentiation strategies and performance of the bank. The results indicate that those companies that are effective at rapidly bringing innovative new products and services to the market have gained a huge competitive edge in today's business world. The results therefore attributed the improvement in financial performance on the competitive strategies that the bank has been undertaking in the past years of its existence | en |
