Empirical Investigation Into the Market Segmentation Strategies Used by Commercial Banks in Kenya

Abstract

This was a survey study of the segmentation strategies used by commercial banks in Kenya. The study was investigating the extend which market segmentation strategies are employed by commercial banks and the benefits of market segmentation. The objectives of the study were to identify the different segmentation strategies adopted in the marketing strategies by commercial banks, factors influencing the use of those strategies and to evaluate the importance of the applied strategies.

The researcher got information from the headquarters of all the commercial banks in Nairobi through questionnaires distributed to heads of marketing department. Since this was a survey study, presentations of the findings were in form of pie charts, tables and graphs.

From the findings, most commercial banks in Kenya employ market segmentation strategies. In conclusion to remain competitive and profitable, most banks have employed market segmentation as a marketing strategy.