Open AccessINFLUENCE OF COMMERCIAL BANKS’ CUSTOMER RELATIONSHIP MARKETING (CRM) STRATEGY ON GROWTH OF MSES IN KENYA
Author(s) -
Jane Karambu Kathuku,
Patrick Karanja Ngugi,
Willy Muturi
Publication year - 2016
Publication title -
international journal of marketing strategies
Language(s) - English
Resource type - Journals
ISSN - 2790-3494
DOI - 10.47672/ijms.27
Subject(s) - nonprobability sampling , marketing , business , descriptive statistics , customer relationship management , population , sample (material) , pie chart , qualitative property , statistics , chemistry , demography , mathematics , chromatography , sociology
Purpose: The main purpose of this study was to establish the influence of commercial banks’ customer relationship marketing (CRM) strategy on growth of MSEs in Kenya.Methodology: The study employed a descriptive survey design with a population of 2,519,457 MSEs in Kenya and the chief credit officers from the 44 commercial banks in Kenya. The bank chief credit officers and MSEs owners were targeted for information by this study because they were likely to be the decision makers. The chief credit officers who were sampled from the headquarters of the commercial banks were actively involved in making lending decisions. The researcher used purposive sampling to select respondents. The sample size which was purposively selected was comprised of 352 respondents. The study will use questionnaires to collect data from the field. Both quantitative and qualitative data gathered will be coded and analyzed using Statistical Package for Social Sciences (SPSS) computer software. Descriptive statistics was used to analyze the data in frequency distributions and percentages which were presented in tables and figures. Inferential statistics were used to analyze qualitative data.Results: The study found out that commercial banks’ customer relationship marketing (CRM) strategy have a positive and significant effect on MSEs Growth.Unique contribution to practice and policy: It was recommended that commercial banks should improve on customer relationship management to enhance the growth of MSEs. This study demonstrated that keeping banking relationships can be beneficial to firms, in so far as contact between the commercial banks and MSE can improve the availability of funds and lower their costs.