Marketing Strategies and Performance of Top 100 Medium Size Companies in Kenya

Abstract

Research has been undertaken about small, medium and micro enterprises in Kenya. Although there are numerous articles and a lot of previous research surveys about small, medium and micro enterprises in Kenya and many other countries, no enough research has been done in Kenya with regard to the use of marketing strategies and performance by medium size enterprises with a focus on top 100 companies in Kenya. Therefore the little research done highlighted the need to conduct more research on this particular area. The other important reasons such as the failure rate of small and medium size enterprises, high rate of unemployment and movement from rural and urban areas due to poverty informed the research in this area to enable the medium size enterprises to thrive and thus create the much needed employment. The study was conducted focusing on top 100 medium size enterprises using both quantitative and qualitative research methods. The sample of the study consisted of the top 100 medium size companies. The respondents were selected using random sampling. Respondents were required to complete a questionnaire with an interviewer present to assist and some were sent on email. The study is in line with the vision 2030 of the Government of Kenya. The focus is on SME as the engine of growth for the country. The high levels of poverty in Kenya require intervention and the best way is to encourage establishment of small and medium size enterprises to help with the employment of our youth. The medium size enterprises respond quickly to changes in environment due to the fact that they have very few layers of decision making process. This also helps them to innovate faster and respond to the needs of the consumers. The main aim of the study was to examine and define the correlation of marketing strategies and performance of top 100 medium size companies in Kenya. Marketing is very important for medium size enterprises if the final consumers are to be aware of the products and services they offer. A company could be having great products and services but if the market is not aware of their existence then no one will buy. The study found out that marketing strategies had a great impact on organizational performance. The study concluded that medium size enterprises need to focus on the marketing aspect of their organizations if they are to thrive in the modern market place. The conclusion is that marketing strategies have great impact on performance of top 100 medium size companies. The recommendation is that medium size enterprises need to give utmost attention to the marketing activities if they are to perform well and compete in the market place