THE INFLUENCE OF ELECTRONIC MARKETING STRATEGIES ON THE PERFORMANCE OF EQUITY BANK LIMITED IN KENYA

Rose Ndegwa

Abstract


The evolution and direction of any marketing strategy in local and international environments has forced firms to adopt electronic marketing strategies to gain competitive edge and viability in the market arena (Bui & Jones, 2006). Fast development of technologies, economic globalization and many other external circumstances stimulate changes in marketing environment. For the company to gain competitive edge in today's market, especially in the electronic market, it must have a good knowledge of the external environment, especially in technological environment that affects business operations. It is important for the company to know and predict environmental conditions that influence marketing activities. Some of the external factors that influence marketing activities of modern companies include; political, economic, social-cultural, and technological factors (Adam, Mulye,Deans & Palihawadana, 2002). The study used descriptive cross sectional census survey. The design is appropriate since all the units of interest were investigated. Comparative analysis amongst all the units was done and the phenomenon under the study described as they appear to be satisfactory. From the findings, it was established that the performance of commercial banks is affected by the electronic marketing strategies selected by the bank. There is a rapid development in technology and hence banks are not being left behind in the adoption of new technology, due to either pressure from customers, stiff competition or change in technology. The banks performance is affected by electronic marketing strategies selected. The banks which have adopted the electronic marketing strategies, the performance is improved, banks which have not yet adopted the electronic marketing strategies are struggling in the performance. The banking sector should embrace electronic marketing strategy in order to survive in the rapidly changing markets.

JEL: G21; D20; D83

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Keywords


electronic marketing, organizational performance, marketing strategies, digital media communication, channels, online partnerships

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References


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DOI: http://dx.doi.org/10.46827/ejefr.v5i1.1094

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