| dc.description.abstract | Banks have experienced a remarkable decline in their market shares and in profit margins. This study seeks to find out how such marketing strategies have affected banks performance. It was guided by the following objectives; To find out if pricing strategies affect performance of commercial banks in Kisumu Town, To examine if sales promotional strategies affect performance of commercial banks in Kisumu Town and finally, To establish if distribution strategies affect performance of commercial banks in Kisumu Town. To improve on its performance commercial banks should adopt various marketing strategies to appeal to their customers. However, various studies have had conflicting and differencing conclusions as to the role and effects of strategies to banks performance both locally and globally. Random sampling method was used to sample the population where a sample of 25% (250) of the respondents was selected for the purpose of this study. That is 25% of 250 which gave us 63 respondents. The sample was guided as the margin of validity and reliability of the study. The study was a descriptive design, targeting staffs and customers. The validity of questionnaire was evaluated by experts in the faculty of Commerce. The researcher administered the same questionnaire twice over a period of time to the same group of individuals and the results from first response and second response was then correlated in order to evaluate the test for stability overtime. A questionnaire was used as the only convenient means for data collection. In this case, open - ended questionnaires was used because they create freedom of expression, no bias due to limited response ranges and respondents’ further explained their answers. In addition, closed ended questions was used where the responds type was predetermine and organized. The finding of this study was of benefit to the public and financial institutions managers and mostly the government in Promoting investment, the presence of financial services creates more demand for products and the producer, in order to meet the demand from the consumer who goes for more investment through marketing practices. Secondly, it provided customers with knowledge on savings since financial services such as mutual funds provide ample opportunity for different types of savings. From the study it was evident that pricing affect the performance of commercial banks to greater extent, this is because most of the respondents contacted during the data collection process were concerned with the prices at which banks offer the services. Fifty percent of the respondents were concerned with the banks service distributions, they emphasized that most banks are concentrating within the city centre and forgetting other regions which are far from town it was clear that bank pricing strategy needs to align with how different customers value their products and services. Therefore, banks should replace traditional pricing with a data driven approach. In conclusion, product promotion contributes most to the performance of the commercial banks followed by product distribution then product pricing. | en_US |
