| dc.description.abstract | Banking services have been growing in Kenya in the past few years due to the diversified
account products that are tailored to meet the needs of customers. The performance of these
account products depends on factors including organizational support. Past research studies
have mentioned the role of organizational framework in supporting current account products
in the banking sector. Some past studies had only focused on the development of current
account products and how they had been used to promote loyalty and overall
competitiveness. Little had been done on organizational factors influencing the performance
of current account products. This study aimed to establish organizational determinants
influencing performance of current account products guided by objectives that focused on:
branch banking networks, management procedures, marketing strategies and technological
accessibility. The study was inclined to social marketing theory propounded by Hendrika
Meischke (1993), guided by a self-conceptualized conceptual framework. Descriptive survey
research design with both qualitative and quantitative techniques was used as a blue print to
guide the study. The target population of the study comprised of 1512 customers of Standard
Chartered Bank in Kericho branch. The sample size of the study consisted of 333 customers
drawn from Standard Chartered Bank- Kericho branch based on Glenn 1992 pre- determined
table for sample size selection at 5% precision. The study employed the use of a structured
interview guide with both open and closed ended questions administered through telephone
interviews as an instrument for data collection. The validity of the instrument was determined
through expert judgement by candidates’ supervisors. Reliability of the instrument was
ascertained through pilot testing the instrument on 10% of the sample size using half-split –
technique which required only one testing session. Quantitative data was analysed using
descriptive statistics in the form of frequencies, percentage counts, mean, mode and medium
with the aid of SPSS (Statistical Package for Social Scientists). Qualitative data was
transcribed, organized into various emerging themes according to the objectives of the study
and reported in a narrative way. The following conclusions were drawn from the study:
branch banking networks influenced the performance of current account products, current
account holders appreciated product management services, account management services,
customer relationship management services, query resolution and transaction notification
services offered by the bank as management procedures, Standard Chartered Bank adopted
market segmentation, direct sales and advertisement as marketing strategies on its current
accounts products, mobile banking services had made banking accessible at home and away
from the bank, internet banking (online banking) had eliminated the brick and mortar banking
challenges. Finally, results of the study revealed that technological accessibility influenced
the performance of Standard Chartered Bank current account products. Based on the findings
of the study, the following recommendations were made: Standard Chartered bank to increase
the number of ATMs across the country so as to meet the demands of the swelling number of
customers, improve on management procedures so as to increase the number of customers
utilizing current account products and new relationships, enhance the use of market
segmentation, direct personal sales and advertisement marketing strategies to market their
current accounts products. Finally, Standard Chartered Bank to conduct a multi-prolonged awareness creation campaigns on the varieties of modern technologies they offer to enable
customers appreciate their utilities. | en_US |
