Effect of Innovation Strategies on Performance of Real Estates Firms in Mavoko Sub-County, Kenya

Peter Maingi Wambua and Stephen M. A. Muathe
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Peter Maingi Wambua: Kenyatta University, Kenya
Stephen M. A. Muathe: Kenyatta University, Kenya

International Journal of Research and Innovation in Social Science, 2021, vol. 5, issue 6, 198-206

Abstract: For the last 5 years, the real estate in Kenya has been affected negatively by financial crisis that affected the entire world. There has been also a massive expansion of the real estate that calls for innovation and new strategies by the stakeholders in the sector for them to keep abreast with the challenges. Therefore, this study sought to assess the effect of innovation strategies on real estate firms’ performance in Mavoko Sub-County, Kenya. Specifically, the study sought to; determine how Process Innovation Strategy, Product Differentiation Strategy, Technology Strategy, and Innovative Customer Service Strategy influences performance of real estate firms in Mavoko Sub-County, Kenya. This study used census method since the population was small and the firms were easily accessible. Primary data for this study was collected using copies of questionnaire as its key instrument. SPSS version 25 then aided in analyzing data as it was most apposite and user-friendly for analyzing attitudinal responses that are management related. Data collected was then analyzed through descriptive statistics and inferential statistics and presented using frequency distribution tables and figures. The findings revealed that 90.3% of the total variance in the dependent variable (Performance of Real Estate Firms) could be significantly explained by combined independent variables (Process Innovation Strategy, Product Differentiation Strategy, Technology Strategy, and Innovative Customer Service Strategy). The study therefore concluded that Process Innovation, Product Differentiation, Technology, and Innovative Customer Service Strategies had significant positive effect on the performances of real estate firms in Mavoko Sub-County, Kenya. Therefore, the study recommended that the firms should make use of these strategies so as to boost their performance.

Date: 2021
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