IDEAS home Printed from https://ideas.repec.org/a/bcp/journl/v10y2026i2p6299-6314.html

Effect of Market Creation Strategy on Performance of Insurance Industry in Kenya

Author

Listed:
  • Teresa Wangai

    (Jomo Kenyatta University of Agriculture and Technology)

  • Dr Paul Kariuki

    (Jomo Kenyatta University of Agriculture and Technology)

  • Dr Blandina Kori

    (Lecturer, Catholic University of East Africa)

  • Dr Peter Ngatia

    (Jomo Kenyatta University of Agriculture and Technology)

Abstract

Market creation is triggered by the problem or opportunity an organisation sets out to address, offering a breakthrough solution to the industry's existing problems or solving a brand-new problem, or seizing a brand-new opportunity outside the industry's existing boundaries. This study analyzed the effect of market creation strategy on the performance of the insurance industry in Kenya with firm size as the moderating variable. Market creation was operationalised by resource accumulation, stakeholders networking and customer acquisition. The study was anchored on the new venture creation model and resource-based theory. The study employed a descriptive cross-sectional research design. The target population was 504 top and middle managers from all 56 insurance companies licensed by the insurance regulatory authority by year 2023. The study adopted a stratified random sampling technique, with a sample size of 218. Primary data was collected using semi- structured questionnaires. Secondary data was collected on return on assets (ROA), return on equity (ROE), customer satisfaction index (CSI), total sales and total assets and market share. Pearson’s correlation coefficient was used to indicate the direction of the relationship between variables. Simple regression analysis was used to explain the nature of the relationship between variables, the F-statistic was used to decide the suitability of the model and test hypothesis while R2 was used to determine the model's goodness of fit. The study findings indicated that the market creation strategy (MCS) had a positive statistical significance effect on the performance of the insurance industry (p

Suggested Citation

  • Teresa Wangai & Dr Paul Kariuki & Dr Blandina Kori & Dr Peter Ngatia, 2026. "Effect of Market Creation Strategy on Performance of Insurance Industry in Kenya," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 10(2), pages 6299-6314, February.
    • Handle: RePEc:bcp:journl:v:10:y:2026:i:2:p:6299-6314
    as

    Download full text from publisher

    File URL: https://rsisinternational.org/journals/ijriss/uploads/vol10-iss2-pg6299-6314-202603_pdf.pdf
    Download Restriction: no
    File URL: https://rsisinternational.org/journals/ijriss/view/effect-of-market-creation-strategy-on-performance-of-insurance-industry-in-kenya/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Fredrick Kariithi Githui & Fanice Junge Nafula, 2023. "Influence of Market Development Strategies on Organizational Performance of Kenyan Public Universities," International Journal of Science and Business, IJSAB International, vol. 26(1), pages 187-195.
    2. Johan Karlsson, 2021. "Firm size and growth barriers: a data-driven approach," Small Business Economics, Springer, vol. 57(3), pages 1319-1338, October.
    3. Jianping Peng & Qun Qin & Tanya (Ya) Tang, 2021. "The Influence of Marketing Innovations on Firm Performance under Different Market Environments: Evidence from China," Sustainability, MDPI, vol. 13(18), pages 1-15, September.
    4. Swati Singh & Manoj Joshi, 2017. "New Market Creation via Innovation: A Study on Tata Nano," Papers 1708.04952, arXiv.org.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nguyen Cong Thanh & Nguyen Hoang Hai & Nguyen Hoang Phu & Minh Ly Duc, 2024. "“Shall Absolute Power Corrupt Absolutely?†: A Perspective From Financial Constraints and Earnings Quality Under Government Control," SAGE Open, , vol. 14(3), pages 21582440241, July.
    2. Xiaohang Ren & Yu ling & Alessia Palma & Benye Shi, 2026. "Does Where We Live Influence How Green We Act? Urban Expansion and Climate Disclosure," Business Strategy and the Environment, Wiley Blackwell, vol. 35(3), pages 3790-3812, March.
    3. N. A. Kravchenko & A. T. Yusupova & A. I. Ivanova & M. A. Yagolnitser, 2024. "Location, Technological Level, and Partnerships as Conditions for Company Growth," Regional Research of Russia, Springer, vol. 14(2), pages 306-315, June.
    4. Minyang Li & Boqiang Lin, 2026. "Corporate business expansion and inefficient investment—understanding the barriers in clean energy supply chain," Annals of Operations Research, Springer, vol. 359(2), pages 2049-2076, April.
    5. Luis Javier Garcia-Martinez & Sascha Kraus & Matthias Breier & Andreas Kallmuenzer, 2023. "Untangling the relationship between small and medium-sized enterprises and growth: a review of extant literature," International Entrepreneurship and Management Journal, Springer, vol. 19(2), pages 455-479, June.
    6. repec:bcp:journl:v:9:y:2025:i:10:p:8625-8636 is not listed on IDEAS
    7. Esteban Lafuente, 2025. "Learning from different types of failure: evidence from non-severe and severe work accidents in SMEs," Small Business Economics, Springer, vol. 64(1), pages 157-180, January.
    8. Bermpei, Theodora & Karadimitropoulou, Aikaterini & Triantafyllou, Athanasios & Alshalahi, Jebreel, 2023. "Does commodity price uncertainty matter for the cost of credit? Evidence from developing and advanced economies," Journal of Commodity Markets, Elsevier, vol. 29(C).
    9. Muhammad Iskandar Hamzah, 2025. "Market, Entrepreneurial Orientations, Crisis Adaptiveness, and Performance of SMEs: A Moderated Mediation Analysis," SAGE Open, , vol. 15(4), pages 21582440251, October.
    10. Lanouar Charfeddine & Mohamed Ismail Umlai & Mazen El-Masri, 2024. "Impact of financial literacy, perceived access to finance, ICT use, and digitization on credit constraints: evidence from Qatari MSME importers," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-37, December.
    11. Sang-Uk Jung & Valeriia Shegai, 2023. "The Impact of Digital Marketing Innovation on Firm Performance: Mediation by Marketing Capability and Moderation by Firm Size," Sustainability, MDPI, vol. 15(7), pages 1-16, March.
    12. Jianing Zhang & Jianhong Fan & Xianghong Yan, 2024. "Research on Configurations for Marketing Performance of Science and Technology Enterprises in China Based on the TOE Framework," SAGE Open, , vol. 14(4), pages 21582440241, December.
    13. Aftab, Junaid & Wei, Feng & Srivastava, Mohit & Abid, Nabila & Ishaq, Muhammad Ishtiaq, 2025. "Intermediating mechanisms and market conditions in big data knowledge management for enhanced market performance," Technological Forecasting and Social Change, Elsevier, vol. 219(C).
    14. Julie Ann Elston & Alois Weidinger, 2023. "An empirical examination of firm growth in the MENA region through the lens of Gibrat’s law," Small Business Economics, Springer, vol. 60(1), pages 121-131, January.
    15. Stojčić, Nebojša & Dabić, Marina & Musteen, Martina, 2024. "With a little help from my friends: Institutional obstacles, networking, and SME exporting in emerging European and Asian economies," International Business Review, Elsevier, vol. 33(3).
    16. Mohamamd Alamgir Hossain & Mohammed Quaddus & Md Moazzem Hossain & Gopika Gopakumar, 2024. "Data-driven innovation development: an empirical analysis of the antecedents using PLS-SEM and fsQCA," Annals of Operations Research, Springer, vol. 333(2), pages 895-937, February.
    17. Seçkin Doğan & Mehmet Nasih Tag, 2025. "Navigating bureaucracy: How education influences entrepreneurial growth aspirations," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 15(1), pages 1-15, December.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bcp:journl:v:10:y:2026:i:2:p:6299-6314. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Pawan Verma (email available below). General contact details of provider: https://rsisinternational.org/journals/ijriss/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.