MARKETING STRATEGIES AND REVENUE GENERATION IN MEDIA HOUSES IN KENYA
Abstract
The general objective of the study was to investigate the influence of marketing strategies on revenue generation in media houses in Kenya. This research was a descriptive research design. The study respondents were the senior management, middle management and marketing account managers and finance and accounts managers. Target population was250 respondents from the five main media firms in Kenya, namely, Nation Media Group (NTV), Royal Media Services Citizen TV), Media Max services (K24), Kenya Broadcasting corporation (KBC) and The standard Group limited (KTN) The sample size was65 respondents selected through census. The research used questionnaires to collect data. A pilot study was undertaken using 13 respondents sampled across the media houses. The findings of Pilot tests showed that the tool is both reliable and valid to permit a full-scale data collection. Data was analyzed using both descriptive and inferential statistics. Descriptive statistics included frequencies and percentages while inferential statistics included correlation analysis and regression model. Data was analyzed using Statistical Package for Social Sciences (SPSS 23). The findings showed that many media companies in Kenya employ marketing methods to boost income generating. These include strategies like audience segmentation, brand positioning, content strategy, and marketing mix, all of which have been shown to have a positive impact, individually and collectively, on revenue creation and overall organizational performance. In conclusion, there is a strong positive association between marketing strategies and income generation in media companies in Kenya. The study recommends that in order to improve revenue creation, the media firms should expand their style of outreach by using efficient current marketing methods that are both realistic and time limited. One of the ways to achieve popularity is by employing a promotional strategy, with the goal being to spread awareness of the company's brand across a number of different vernacular stations in an effort to penetrate previously unreached segments of the market by means of the promotion plan. Additionally, it is necessary to conduct out a comprehensive market analysis in order to gain an understanding of the media market, as well as to devise and put into action practical marketing plans that take into account the four Ps of the marketing mix model in order to realize the anticipated benefits.
Key terms: Audience Segmentation, Brand Positioning, Content Strategy, Revenue Generation
CITATION: Mahianda, D., & Mutuku, B. (2023). Marketing strategies and revenue generation in media houses in Kenya. The Strategic Journal of Business & Change Management, 10 (4), 620 – 637. http://dx.doi.org/10.61426/sjbcm.v10i4.2778.
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