Marketing strategies and performance of media houses in Kenya
Marketing strategy is a fundamental issue for the entire business whether the firm is a small scale set up or a well reputable transnational conglomerate outfit,, organizations are tasked and mandated to develop, establish and implement a coherent and well trendy marketing strategies to promote their businesses, court the right types of clients and allocate their resources correctly for business growth, this is widely assessed by the return on investment (ROI) as an indicator that measures the efficiency of funds. This quest has led to increased competition in the Media industry in Kenya prompting the media houses to come up with lean marketing strategies to remain relevant in the competitive media market in Kenya. The study investigated the Marketing strategies and organizational performance of media houses in Kenya. The objective of the study was to establish the relationship between marketing strategies and organizational performance of media houses in Kenya. The study adopted a census in which the entire population was considered. Both primary and secondary data sources were used. The target population was the 22 media houses licensed and controlled by Communication Authority of Kenya and Media Council of Kenya. The data was collected by used of semi-structured questionnaires and respondents were marketing heads. The quantitative data generated were analyzed with the aid of Statistical Package for Social Sciences (SPSS). The study findings revealed that there is a significant relationship between marketing strategies and organizational performance. The study used both Pearson’s correlations and regression analysis. These results found imply that pricing strategy contribute more to the organizational performance of media houses followed by distribution strategy, promotion strategy and product differentiation respectively. Marketing collectively account for 76.5% of change in performance of media houses in Kenya. It is recommended that the media houses which have not fully embraced articulate marketing strategies to see to it. They also need to tailor make marketing strategies in line with the trendy marketing mix model to boost organizational performance.