AN ASSESSMENT ON EFFECTS OF NICHE MARKETING ON COMMERCIAL BANKS PERFORMANCE IN KISII COUNTY

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AN ASSESSMENT ON EFFECTS OF NICHE MARKETING ON COMMERCIAL BANKS PERFORMANCE IN KISII COUNTY

ABSTRACT: The evolving business landscape will necessitate firms to reassess their marketing strategies toalign with their changing requirements. This study explored the effects of niche marketing on commercial banks performance in Kisii County. For this research, a descriptive research design was employed. The target population consisted of the 17 commercial banks in Kisii County. The study involved surveying marketing directors, branding managers, and design managers from each of the 17 commercial banks, resulting in a total of126 respondents. A census approach was utilized for data collection. A well-structured questionnaire was developed and employed to gather data, ensuring its validity and reliability through a pilot study. Ethical guidelines, such as obtaining informed consent and maintaining anonymity and confidentiality, was rigorously observed. Subsequently, the collected data was inputted into Statistical Package for Social Sciences version 27for analysis. Data analysis encompassed both descriptive and inferential statistics, including calculations of arithmetic means, standard deviations, frequencies, and percentages. Multiple regression analysis was conducted to determine beta coefficients, providing support for drawing meaningful conclusions. The findings were presented through the use of tables and figures to enhance the visualization of the analyzed data. The results revealed that participants acknowledged their bank’s adoption of niche marketing strategies, which correlated positively and significantly with the bank’s overall performance. Moreover, the research confirmed that participants recognized the implementation of niche marketing approaches by their respective banks, which notably influenced the performance of commercial banks in Kisii County. Additionally, participants acknowledged the utilization of both broad-reaching and niche marketing techniques by the banks, both ofwhich exhibited a strong, positive, and significant relationship with bank performance. The study suggests thatsales and marketing managers of commercial banks in Kisii County should focus on refining niche marketing strategies through regular assessments to enhance their performance. Furthermore, there is a recommendation to bolster the widespread marketing practices employed by commercial banks in Kisii County to further enhance overall performance.

Key words: Niche Marketing, Porter’s Model

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