Influence of Brand Recognition on Market Leadership in The Mobile Money Industry in Kenya

Abstract

This study sought to establish the influence of brand recognition on market leadership in the mobile money industry. The study was guided by three theoretical foundations including Patterson’s Theory of First movers, Resource-Based Theory, and Theory of Innovation Diffusion. The study was guided by the positivism philosophy. The study adopted both descriptive and explanatory survey designs.    Descriptive research design enables one to gather quantifiable information that is applicable for statistical inference through data analysis. The target population for this study comprised of 96 managers in the following departments: human resource, operations, finance and technology in the three mobile money providers. The study employed a census sampling technique because the target population was small. Data was collected using structured questionnaires and key informant interviews. The data collection instruments were pretested for validity and reliability. Content validity and construct validity were used in testing for validity of the data collection instruments whereas Cronbach's alpha was used in testing for reliability. Data from key informants was analyzed using content analysis. Descriptive statistics (frequencies, percentages and means) were used to summarize data while inferential statistics were used to test the relationships and evaluate effect of independent variables on the dependent variable. The findings are presented in Tables and Figures. The study found out that brand recognition significantly contributes to market leadership (p<0.05).  The regression analysis further showed that brand recognition explain 42.1% of the variations in market leadership in the mobile money industry in Kenya (R²=0.421). The study recommends that companies in Kenya's mobile money industry prioritize building brand recognition to strengthen their market leadership. Additionally, companies should focus on cultivating strong customer relationships, leveraging first-mover advantages, and adhering to regulatory compliance and industry standards. Finally, fostering a culture of innovation, monitoring market trends, and adopting sustainable growth strategies are crucial for maintaining long-term competitiveness and social impact within the dynamic mobile money landscape of Kenya.