Strategies Adopted by Equity Bank to Gain a Competitive Advantage on Mobile Loan Applications
Abstract
This study’s iobjective iis ito iestablish istrategies iadopted iby iEquity ibank ito igain ia
icompetitive iadvantage ion imobile iloan iapplications. iThe istudy iadopted icase istudy idesign
iand idata iwas icollected iat iEquity iBank iKenya. Especially the headquarter of the bank at
Upper Hill in Nairobi, Kenya. The data was collected using interviews and the interview
involved various officers from the bank including the Strategy Managers, Directors and
Chief executive officers. These officers are i imore iinvolved i i i iin ipolicy-making i i i iand i i i
istrategic i iplanning iin ithe ibank iand ithey iprovided irequired idata ito imeet ithe istudy iobjectives.
Data analysis involved the use of Content analysis. This was done to help categorized the
study findings in different themes and subjects. The study established that Equity bank
mobile loan applications success is due the implementation of different strategies such as
aggressive digital marketing, innovation, brand management, cost leadership,
segmentation, different and the use of focus strategies which has enabled the firms to
gain competitive advantage by focusing on specific market segments and operations thus
creating a competitive advantage that matches the core competencies and the
opportunities in the industry. The study also found that the use cost leadership strategies
enable the Bank to have a lower cost of operation through the efficiency of their
operations to create lower prices than those of the competitors. The study concluded that
banks should adopt different strategies to have a direction that will enable them to
achieve their long-term objectives while meeting the demand of their customers and at
the same time reducing the risks and threats from the market environment and taking
advantage of the innovation environment in line with the mobile money transfer and
transactions. The study recommended the need for banks to adopt strategies such as
innovation, cost leadership, focus, and differentiation strategies. This will enhance the
firms' competitive edge, increase market share, reduce operation costs, expand the
customer base, and increase profitability of the organization as well as improve the
organization's overall performance. However, the application of these strategies should
focus on attracting, increasing, and retaining the customer base, reducing the cost of the
operations, and improving the financial and operational performance of the financial
institutions offering mobile loan services.
Publisher
University of Nairobi
Subject
Strategies Adopted by Equity Bank to Gain a Competitive Advantage on Mobile Loan ApplicationsRights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
- School of Business [1411]
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