Influence of Marketing Agility on Marketing Performance of Commercial Banks in Kenya
Abstract
This study aimed to establish the influence of marketing agility on the
marketing performance of commercial banks in Kenya. The study was founded
on the Dynamic Capabilities Theory, and the target population was the 39
commercial banks licensed to operate in Kenya by the Central Bank of Kenya.
A census of the target population was done because it was relatively small. A
cross-sectional research design was adopted, and data was collected using the
key informant method from marketing managers using a semi-structured
questionnaire. 37 commercial banks responded, and this led to a 95% response
rate. Data analysis was done using simple regression analysis, and the
regression results indicated that marketing agility explained 51.1 % of the
variation in the marketing performance of commercial banks in Kenya. The
regression coefficients also revealed that marketing agility had a positive and
significant effect on Marketing performance (β = 0.668, t = 6.043, p = 0.000).
These results led to the rejection of the study’s null hypothesis, which stated
that marketing agility has no significant effect on the marketing performance
of commercial banks in Kenya. Based on the results of the regression analysis,
the study concluded that marketing agility has a positive and significant
influence on the marketing performance of commercial banks in Kenya. The
study recommended that marketing managers ensure that business firms have
simplified organizational structures and processes that have short learning
cycles as well as breaking down departmental barriers to enhance the firms’
ability to act faster and be more flexible in response to market changes.
Management should also ensure that organizational resources are tied to
overarching objectives instead of pre-planned activities. Management should
develop a system that will ensure that it is possible to reallocate resources
quickly within the firm so that they can move with speed in exploiting a
marketing opportunity or avoiding a business threat.
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