Strategic Marketing and Organizational Performance: A Survey of Pharmaceutical Companies in Nairobi Metropolitan Kenya
DOI:
https://doi.org/10.53819/81018102t3020Abstract
The proposed study sought to establish the effect of strategic marketing on performance pharmaceutical companies in Nairobi Metropolitan. The specific objectives of this study were to evaluate the influence of innovation orientation and positioning strategic marketing on performance pharmaceutical companies in Nairobi metropolitan. The study was conducted from May 2021 to July 2021. The target population of this study was sixty-two (62) pharmaceutical firms which have branch or headquarters within Nairobi Metropolitan. The study adopted census technique and used to target all sixty-two (62) firms while purposive sampling techniques was used to sample two (2) respondents in each pharmaceutical firm comprising of strategic and marketing managers making a total of one hundred and twenty-six (124) as sample size. The research used semi-structured questionnaire to collect qualitative and quantitative data. Qualitative and quantitative data was collected where quantitative data was coded in the SPSS (Version 22). Data was presented using frequency tables and figures. Inferential statistics was used to establish relationship between strategic marketing and organizational performance. The study found that effect of innovation orientation and positioning strategic marketing enhances performance of pharmaceutical companies. Marketing mix has been embraced by retail stores in the pharmaceutical sector to assist them enhance their performance and acquire market share. Firms should consider selling pharmaceutical products in a proper manner, as well as offering relevant products to the public, in order to increase sales and market share. Managers should closely monitor the initiatives and address any challenges that arise because of them for pharmaceutical enterprises to remain competitive. Pharmaceutical companies should seek out new partners to form partnerships with in order to achieve long-term success. Pharmaceutical companies should think about expanding into new markets using their core strengths.
Keywords: strategic marketing, innovation orientation, pharmaceutical companies, Nairobi Metropolitan
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