Marketing Strategies Adopted by Small and Medium Enterprises in Nairobi Central Business District

Abstract

The marketing concept of building an organization around the profitable satisfaction of customer needs has helped firms to achieve success in high-growth, moderately competitive markets. However, to be successful in markets in which economic growth has leveled and in which there exist many competitors who follow the marketing concept, a well-developed marketing strategy that considers a portfolio of products, takes into account the anticipated moves of competitors in the market and develops effective responses to changing market environments is required. The purpose of the study was to establish the marketing strategies adopted by SMEs in Nairobi Central Business District. The research design adopted was descriptive research design and a structured questionnaire was prepared and distributed to all selected respondents and data collected and analyzed using a five point scale based on averages and percentage. The findings of the study were that SMEs use the marketing mix strategies which comprise of the product, place, promotion, price, persuasion, reading the market and adopting promising ideas, searching for market opportunities, creators of change and the necessary improvements in the market, differentiation, market development, diversification, market penetration, cost leadership and product development. The positioning strategies used by the SMEs were hybrid bases, positioning on benefits, positioning on specific product features, positioning against another product or a competing business, and product class disassociation.