Response marketing strategies adopted by chase bank to counter stiff competition in the banking industry in kenya
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Date
2013Author
Moraa, Omari Irene
Type
ThesisLanguage
enMetadata
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The study focuses on the response marketing strategies adopted by Chase bank to counter
stiff competition in the banking industry in Kenya. It sought to assess the response
marketing strategies adopted by Chase bank limited. The design of the study was case
study design. The findings were obtained using an interview guide that was administered
personally by the researcher. The number of managers who were available at the time of
this study was 10. This represents a 66.67 % response rate. Demographic profiles
established that the majority of managers were male. The study established that the
managers perceive response marketing as a useful tool in the management of the
marketing activities and had positively impacted on the cost, operations and timely
completion of marketing projects. The study also established that Chase bank indeed has
adopted response marketing strategies that are broken down in to four other strategies:
product strategy, service strategy, penetration strategy and functional strategy. The study
found out that the services designed by the bank have an element of class and service
excellence with an emphasis to personalized services. The respondents mention the
leverage on the new core banking software "Flex" as the backbone of value addition. The
study also indicated that implementation of response marketing strategy was being
affected by speed of implementation, difficulty in attaining service excellence and
differentiating products and services in a "commoditized" marketplace. This study was
limited by the fact that it only focused on Chase bank and therefore its findings may not
be applicable to the entire banking sector.
Citation
Master Of Business AdministrationPublisher
University of Nairobi