Events marketing, brand orientation and performance of commercial banks in Kenya
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Date
2016Author
Wainaina, Milkah W
Type
ThesisLanguage
enMetadata
Show full item recordAbstract
The manner in which organizations conduct their marketing has undergone great change
from the traditional advertising to new approaches that are responsive to new market
needs. Though traditional advertising still controls major marketing activities, event
marketing and branding are becoming important in marketing activities. Commercial
banks, too, use events marketing and branding to market their services. The aim of this
study was to establish how the use of event marketing and branding affected the
performance of commercial banks. The study adopted a descriptive survey research
design. The study targeted the 42 commercial banks currently operating in Kenya. A
sample of 25 commercial banks was used. Marketing managers provided the information
required through completing a self-administered questionnaire. 22 out of 25
questionnaires were used in the analysis making a response rate of 88 percent. Analysis
was done using mean, standard deviation, percentage and regression. The results show
that event marketing as used by commercial banks does not significantly contribute to the
performance of the banks that use it as a marketing strategy. The customer orientation
strategy used adversely affects performance, and even so, customer orientation strategy
of branding does not significantly contribute to performance. Competitor orientation
strategy of branding does not contribute to performance of commercial banks. The
strategies used for brand positioning did not effectively contribute to performance of
commercial banks. On aggregate, the brand positioning and event marketing strategies
used by commercial banks do not improve performance. The study recommends that
event marketing should effectively focus on the customers with the aim of effectively
highlighting the products and their prices. In customer orientation of product branding,
commercial banks should come up with programs to enhance customers’ loyalty and
make their products more preferable to their customers. Commercial banks should
improve on the market intelligence they gather from competitors and strive to use the
intelligence to design competitive strategies to enable then gain competitive advantage.
Commercial banks should make their products even more sharply different from those of
competitors. This will be achieved by emphasizing on the customer and delivering
superior value. Commercial banks need to improve the ease with which customers access
services. Commercial banks need to carry out event marketing with the aim of
highlighting their products and services and how differentiated their products are.
Publisher
University of Nairobi
Rights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
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