EFFECT OF MARKET DEVELOPMENT STRATEGIES ON PERFORMANCE OF TEA FIRMS IN LIMURU SUB COUNTY
Abstract
Tea processing firms in Kenya have been facing performance challenges in the recent past. The tea firms in Limuru Sub County have not been spared either. To remain afloat, it is important to think of suitable strategies that will improve performance of the same. These strategies if well planned, executed, controlled and evaluated will then turn around the performance of the tea firms. This study established the effect of market development strategies on performance of tea firms in Limuru Sub County. The study was anchored on the Resource based view theory and Ansoff’s product model. Descriptive design approach was used in conducting the study. Cross sectional survey was used to give more insights in the study. The research population comprised of managers and supervisors working in the tea firms with the unit of observation being one hundred and thirteen respondents. The unit of analysis used was seventy respondents. Data was collected using structured questionnaires. The researcher collected both qualitative and quantitative data. Results were analyzed using descriptive and inferential statistics. A unit increase in market development strategies would lead to 0.405 in tea firms’ performance at 0.05 level of significance. The findings showed that market development strategies had an effect on performance of tea firms in Limuru Sub County. The study concluded that tea firms should seek to constantly invest more on market development strategies that had a large effect on performance. The study recommended that proper policy frameworks aimed at accommodating the market development strategies needed to be enhanced. This will go a long way in ensuring performance of the firms as well as sustainability of the same.
Keywords: Market Development Strategies, Performance, Tea firms
CITATION: Gichina, P. W.,& Kahuthia, J. M. (2021). Effect of market development strategies on performance of tea firms in Limuru Sub County. The Strategic Journal of Business & Change Management, 8 (3), 918 – 927.
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DOI: http://dx.doi.org/10.61426/sjbcm.v8i3.2070
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