Tegrated Marketing Communication Strategies and the Performance of Insurance Companies in Nairobi Kenya

Abstract

The modern-day business environment is characterized by high levels of competition between different players in the market. One of the strategies that is increasingly being used by these companies is Integrated Marketing Communications Strategies. The general objective of this study was to investigate0the0effect of integrated marketing communication strategies and the performance of0insurance0companies in Nairobi Kenya, while the specific0objectives were to investigate the extent to which insurance companies in Kenya have adopted the integrated0Marketing communication strategies0and to investigate the influence of integrated marketing communication0strategies0on the performance of0insurance0companies in Kenya. This study was based on0three0theories, excellence study theory, competence based theory and resource based view theory. The study adopted0descriptive, cross-sectional design. The target0population for this study comprised of 52 insurance companies registered and operating0in0Kenya under the umbrella0of Association of Kenya insurers. The data was collected from0Key personnel from the insurance0firms. Data Analysis0was0done using multiple Linear0regression0and Correlation Analysis. It was established that integrated marketing communication strategies had significant relationship with0firm0performance. The study found that there is positive correlation between advertising,0sales promotion, personal0selling0and0direct marketing. Except for public relations which had an insignificant relationship with performance. The study concluded0that direct marketing, advertising,0personal selling, public relations0and0sales0promotion positively and significantly influence insurance0firm’s0performance. It also recommends that0insurance0firms need to employ more0youthful0marketers since they are capable0of0providing vibrant and energetic0workforce that would be capable0of0responding swiftly to0the0changes0that0the external environment presents.