STRATEGIC INNOVATION AND MARKETABILITY OF HOUSING UNITS BY REAL ESTATE FIRMS IN NAIROBI COUNTY; A CASE OF SORTMASTERS LIMITED
Abstract
The main objective of the study was to determine strategic innovations and marketability of real estate housing units in Nairobi County. The research design that was adopted in the research was descriptive research design. Target population for the study was 85. The researcher obtained data through online delivery via the various media platforms such as WhatsApp, email and Facebook. Data was analyzed through SPSS software version 23. Results of the study presentation addressed appropriate measures that disclosed strategic innovation and marketability for real estates housing in the future. The findings of the study revealed that strategic innovation influences the marketability of housing units by real estate firms having a P-values of all the three hypothesis as evidence on rejection of the null hypothesis or the acceptance of the alternative hypothesis. There is a positive effect of product diversification on performance which constitute of the existing new markets, technological advancement and information flow. Secondly, there is a significant and positive influence of market innovation strategy on marketability of housing units which is backed by need for the creation of value, improved customer intensity and competitors’ orientation. Finally, there is a significant and positive influence of product innovation and marketability of real estate housing units. Percentages, means and standard deviation was used for descriptive analysis of the indicators for each variable of the study. Multiple regression analysis was done to test for the hypotheses. The hypotheses testing at 0.95 significant level showed that marketing innovation strategy and marketability of housing units ( B-0.646, p<0.001), on the other hand product diversification strategy has a significant and positive influence on the marketability of housing units (B=0.528,P<0.001) and finally, product innovation strategy has a significant and positive influence on marketability of housing units (B=0.618,P<0.001). Based on the findings, the researcher recommended that Sortmasters should effectively incorporate market innovation strategy, product diversification, and product innovation if they are to achieve sustainability in the long term. Notably, the government should incorporate certain policies that are aimed at boosting the operations by the real estate firms.
Key Words: Product Diversification, Marketing Innovation, Product Innovation, Marketability, Housing Units
CITATION: Susan, N. M., Titus, M., & Obunga, F. (2022). Strategic innovation and marketability of housing units by real estate firms in Nairobi County; A case of Sortmasters Limited. The Strategic Journal of Business & Change Management, 9 (2), 136-150.
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DOI: http://dx.doi.org/10.61426/sjbcm.v9i3.2357
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