Analysis of Market Development Strategies on Sustainable Competitive Advantage in Cement Manufacturing Companies in Kenya
DOI:
https://doi.org/10.35942/17trnx47Abstract
Corporate organizational managers are working towards sustainable growth and ensuring competitive advantage is maintained. Businesses are becoming highly competitive and very demanding. Manufacturing companies are currently opting to various strategies to deal with such emerging competitive issues. The objective of this study was to assess influence of market development strategy on sustainable competitive advantage in cement manufacturing companies in Kenya. The study employed a descriptive research design. The target population were all the six cement manufacturing companies in Kenya with the respondents being the top management dealing with strategic management in each of cement manufacturing company. Census sampling approach was adopted to encompass all the six cement manufacturing companies. A proportionate sample of 108 respondents was chosen as a representative of the whole. From the findings, Market Development Strategy had a positive influence on sustainable competitive advantage in cement manufacturing companies in Kenya. The study concluded that Market development strategies have a positive effect on sustainable competitive advantage in the cement manufacturing companies in Kenya. The study recommended that management should assess their market development strategies for suitability considering company’s structure, culture, and policies, as well as the overall targeted goals, before implementing it. Market development strategies that will improve sustainability include continuously exploring new geographic markets, the company starting new distribution channels, the company introducing new market segment, adding new distribution channels, having charged content of advertising or promotion, concentrating on development of dominant product, having added new demographic segments, company having new institutional segments, having targeted new customers in new segments and having targeted segments.
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Copyright (c) 2023 Stephen Mwangi Mucheru, Evans Nyamboga , Evans Mwiti (Author)
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