Marketing Strategies Adopted by Veterinary Pharmaceutical Firms in Kenya to Enhance Performance

Abstract

In a competitive business environment, a marketing strategy will be an important step in which companies react to market or environment forces and internal forces and in the process enable the firms to achieve their objectives in the target market. The objective was to establish the marketing strategies adopted by veterinary pharmaceutical firms in Kenya to enhance performance. The population of study was all the veterinary pharmaceutical firms in Nairobi, the sample frame being provided by the Pharmacy and Poisons Board. All the sixteen registered firms were selected for the survey. A questionnaire was used to collect data, with respondents being top level managers. The data was analyzed using descriptive statistics and regression models. The study found that the common marketing strategies adopted by the firms, in order of precedence, are promotion strategy, product strategy, distribution strategy and pricing strategy. The popular promotion strategy employed by the firms is the coming up with a promotional strategy that elicits attention, interest, desire and action; and also developing an integrated marketing communication programmes. Further, the study found that marketing strategies employed by the veterinary firms have had positive effect on the performance of the firms. The performance is reflected in terms of improved organization relationship with its customers as well as improved level of efficiency in the firms due to the need to reduce cost.