An assessment of growth strategies employed by SMEs in Nairobi, Kenya
Kiossi Mikala, Guailor Vertu
Omschrijving
This study aimed at understanding the nature and effectiveness of strategies developed by Nairobi SMEs to expand their market and promote their business. Three objectives were formulated: to determine what growth strategies Nairobi SMEs employed to attract and maintain their customers, to examine advertising techniques Nairobi SMEs employed to promote their business and to determine the effectiveness of growth strategies employed by Nairobi SMEs. This study employed a descriptive design as it sought to determine the state of growth strategies employed by Nairobi SMEs. A total number of 100 questionnaires were distributed in a way of interviews to targeted respondents, and 78 were returned and preceded for data analysis and report. Analysis of data was done through the Software Package for Social Sciences (SPSS) version 20, and Microsoft Excel 2007. This study revealed that the seven most employed growth strategies by Nairobi SMEs were diversification, product development, differentiation, effective customer service, focus strategy, market development and geographic expansion.
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