Corporate Strategy and Marketing of Products and Services at Kenya Commercial Bank Ltd

Abstract

Banks offer a wide range of products and services to personal and business customers; some of these products and services such as bank account, guarantor-ship, and investment advisory are needed by an appreciable number of customers. Banks need to take into consideration the process of marketing when developing their corporate strategies. This will aid in improving banks performance. The purpose of this study was to establish the role of corporate strategy in marketing of products and services at Kenya commercial bank ltd. The study had two objectives to be met: to determine the strategies adopted by KCB in marketing its products and to establish the role of corporate strategy in formulating the marketing strategies. Data was successfully collected from 10 senior ix managers of Kenya commercial bank limited who work in the marketing and strategic planning departments through interview guides. The study revealed that KCB has several products that are tailored towards the needs of various customers. The marketing strategies used include using the KCB band name; sponsorship of activities among others. The marketing strategies are developed from the corporate strategy of the bank. The study recommends that it may be significant for the bank to try branding various products under different brand names in order to achieve greater results and that the bank should be encouraged to enhance the use of internet in marketing its products in order to reach most of the modern customers who happen to be techno savvy. The bank can also explore the possibility of leveraging on mobile marketing to enhance its marketing strategies.