Global Positioning Strategies and Firm Competitiveness: a Case Study of the Bank of Baroda
Global positioning strategy is important given the fact that it fosters highly flexible customer responsiveness. The study sought to determine the effect of global positioning strategies and firm competitiveness at the Bank of Baroda. The study adopted a case study research design and was guided by the following objectives; to determine global positioning strategies adopted by the Bank of Baroda, and to determine the effect of global positioning strategies and the competitiveness of Bank of Baroda. The study utilized primary data which was collected through a face to face interview with the researcher. Five people were interviewed using an interview guide containing a set of questions. The interviewees included five marketing and strategic managers at the Bank of Baroda. Qualitative data was obtained from the interview guide and was analyzed using Content analysis. The study found out that the bank of Baroda has adopted and implemented a number of global positioning strategies in its operations. The study concludes that; positioning by product attribute, positioning against your competitor’s product, positioning by use or application, positioning by price-quality relationship, positioning by product user, positioning by product class, and cultural symbol positioning constitute the main global positioning strategies that the bank of Baroda has adopted over the recent past. The study concludes that; the adoption of global positioning strategies has had a significant impact on the competitiveness of the Bank of Baroda in the recent past. Given the fact that global positioning strategies positively influence firm competitiveness the study recommends that other firms across the various sectors in Kenya to embrace global positioning strategies in their operations. At policy level, the study recommends that; the national and county governments to formulate policies geared towards creating an enabling environment for internationalization among local firms so as to make them more competitive. The study further recommends that the government and other key stakeholders keen on enhancing firm and national competiveness to focus on creating impetus to put in place critical success factors to mitigate the negative effects of global trade. The study was limited to the extent that it adopted a case study research design; hence the research findings might not be generalizable and applicable to other banks in Kenya owing to the fact that different banks may be applying different global positioning strategies. The study suggests that further research efforts should focus on approaches to managing global marketing. The need for further research into this aspect of organizational management is further compounded by the facts that the study revealed a number of key global positioning drivers which could be making the firm performance of local firms less competitive. The study further recommends studies involving confirmatory factor analysis to further test the outcome so established and to confirm the findings of the study. Towards this end, further studies can be conducted to test and confirm the factor loadings in different firms beyond the banking sector so as to establish the validity and strength of the findings.
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