Analysis Of Marketing Strategies And Performance Of Tier One Listed Banks In Kenya

The objective of the study was to determine the influence of marketing strategies on performance of tier one listed banks in Kenya. By examining how marketing strategies affect performance, appropriate resource allocation towards marketing effort would be achieved leading to enhanced performance of the banks. Market segmentation theory anchored the study with various studies suggesting that performance of banks was crucial for a nation's economic sustainability but there remained disagreement on how marketing strategies influence performance. This lack of consensus pointed to an information vacuum which this study sought to fill. Employing a descriptive cross-sectional survey based on positivist philosophy, 88 respondents were surveyed using a standardized questionnaire. Data analysis encompassed descriptive and inferential statistics using mean, standard deviation and correlation analysis while findings were displayed in frequency tables. The model explained a statistically significant 53.8% of the variation in performance of the banks leading to the rejection of the null hypothesis. It was suggested that bank executives should focus on marketing strategies to enhance competitiveness. Additionally, regulatory authorities should support non-conventional distribution channels including online platforms to drive growth. Future research on impact of digital marketing on performance of banks was recommended.