Effect of Strategic Marketing Practices on the Performance of Housing Sector in Kenya

Abstract

The motivation behind this study was to investigate the effect of strategic marketing practices on the performance of housing sector in Kenya. Due to dynamic business environment, marketing strategies have remained the only link between the organization and the environment. Studies have indicated that strategic marketing practices enable companies to perform. For small and large organizations to survive, strategic marketing is the only drive that will make them to gain competitive edge. The objective of the study was; to explore the effect of strategic marketing practices on the performance of Housing sector in Kenya. The target population included Housing Private Developers operating in Kenya, stratified sampling technique was used to select sample. Primary data was collected using semi-structured questionnaires with both close-ended and open ended questions. Data was analyzed descriptively. Regression model was used to analyze data and data was presented using tables. Pearson correlation analysis was used to determine if there was a relationship between. Independent and dependent variable. The study established that quite a good number of the House developers understood and uphold the importance of strategic marketing with regard to profit maximization. It also established that for any trader to flourish in the business and to be competitive enough they must have distinct product, pricing, promotion and distribution strategies. The study found out that strategic marketing practices were adopted to a moderate extent by the housing sector in Kenya despite challenges that included; inadequate capital, high operational costs and inadequate training among House developers. Therefore, the researcher recommended that Government intervention initiatives, lCT integration, training in the housing industry and training of House developers strategic marketing practices