Foreign market strategies adopted by Barclays Bank Ltd

Abstract

ABSTRACT In today's competitive global marketplace, the importance of formulating an effective foreign marketing strategy has been receiving increased attention. The relationship between foreign marketing strategy and performance has received considerable attention in the literature (Cavusgil and Zou, 1994; Da Rocha and Christensen, 1994.). This study therefore sought to establish the foreign market strategies adopted by Barclays Bank of Kenya. This study adopted a descriptive survey design. The population of interest was 60 staff currently employed by the Barclays Bank of Kenya, which are situated in Nairobi. Primary data was collected using structured questionnaires. Before processing the responses, the completed questionnaires were edited for completeness and consistency. A content analysis and descriptive analysis were employed. Descriptive statistics were used to summarize the data which includes, percentages, frequencies and mean scores. Data was then presented using frequency tables. From the findings, the study found that the foreign market strategies employed by Barclays bank are use of global marketing strategies shown, sourcing strategies, research and development, sales and customers’ service, high level of market orientation, marketing research, promotion and advertising, new products development practices and manufacturing operations. The study therefore recommends that in order to ensure competitive advantage in the foreign market, Barclays bank of Kenya should ensure that they have the export knowledge, they are committed and they should have the technological superiorities of the exported products which in earlier studies was found to have a positive relationship with success.