Evaluation of market development strategies on performance of food and beverage manufacturing firms in Kenya

Abstract

The aim of this study was to assess the relationship between market development strategies and performance of food and beverage manufacturing firms in Kenya. To achieve this goal, the study drew on resource-based view theory. The study utilized a descriptive survey research design and methodology that involved collecting primary data from a target population of 192 respondents. Simple linear regression technique and Yamane formula guided the determination of the sample size of 130. The data acquired from 81 percent of the sampled respondents through a self-administered questionnaire was analysed using descriptive statistics and simple linear regression. The results revealed that there exists a statistically significant relationship between market development strategy and performance of food and beverage manufacturing firms in Kenya. It was thus recommended that firms should invest in thorough market research to understand customer needs, explore new avenues for outreach, and assess expansion opportunities. Integrate initiatives into strategic planning, evaluate performance regularly, and collaborate with stakeholders for support. Invest in employee training to enhance execution effectiveness and overall success.