THE INFLUENCE OF PRODUCT PROMOTION ON THE PERFORMANCE OF SUBSIDIARY CHEMICAL COMPANIES IN KENYA
Abstract
Although chemical manufacturing firms in Kenya ought to play a significant role in the growth of the economy, they are currently facing myriad of challenges that impede their growth but sustainability. This study focused on the influence of promotional strategies on performance of subsidiary chemical companies in Kenya. A census of six start up chemical companies in Nairobi County, Kenya was done. Data was collected using questionnaires. Collected data was analyzed using descriptive and inferential statistics. Descriptive statistics were mainly frequencies, percentages, mean and standard deviations. Inferential statistics involved the use of multiple linear regression model which yielded ANOVA results and parameter estimates. The results of the analysis demonstrated that promotional strategy is a statistically significant predictor of performance in subsidiary chemical companies in Nairobi. Based on the findings of this study, it is recommended that senior management and other high-level stakeholders in the Chemicals Subsector in Kenya should therefore increasingly apply the promotional strategy in order to improve the firms’ performance. The study further recommends that similar studies be conducted on other sectors in Kenya probably other organizations in the private sector. Studies can also be replicated in the other regions, to contrast any variations in regional characteristics. A national study can also be carried out on the influence of promotion strategy on organizational performance.
Key words: Promotion, Firm Performance, Promotion Strategy, Chemical Manufacturing Firms
CITATION: Mwangi, C. W., Munga, J., & Nzioki, S. (2024). The influence of product promotion on the performance of subsidiary chemical companies in Kenya. The Strategic Journal of Business & Change Management, 11 (2), 438 – 443. http://dx.doi.org/10.61426/sjbcm.v11i2.2897
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DOI: http://dx.doi.org/10.61426/sjbcm.v11i2.2897
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