Product Strategy and Performance among Real Estates Firms in Mombasa County

Cynthia Manyeti., Dr. Stanley Kavale. and Dr. Andrew Kimwolo
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Cynthia Manyeti.: Department of Management Science & Entrepreneurship, Moi University
Dr. Stanley Kavale.: Department of Management Science & Entrepreneurship, Moi University
Dr. Andrew Kimwolo: Department of Management Science & Entrepreneurship, Moi University

International Journal of Research and Innovation in Applied Science, 2024, vol. 9, issue 11, 198-209

Abstract: Organizational performance refers to the ability of an enterprise to achieve such objectives as high profit, quality product, large market share, good financial results and survival at pre-determined time using relevant strategy for action. The general objective of the study was to investigate product strategy and its effect on the performance among real estate firms in Mombasa County. The specific objectives of the study were to determine the effect of product development strategy, product differentiation strategy, product diversification strategy, product segmentation strategy and product liquidation strategy and performance among real estate firms in Mombasa County. The theoretical framework of the study consisted of the Ans off theory, the grand selection strategy theory, the generic strategy theory and the balanced score card theory. The study employed explanatory research design and the target population was 125 real estate firms in Mombasa County. The sample size was 97 real estate firms derived using the Taro Yamane sampling formula. The study established that product development, product differentiation strategy, product diversification strategy, product segmentation strategy, and product liquidation strategy had a positive and significant influence on performance of real estate firms in Mombasa County. The study recommended that managers need to employ product development, product differentiation strategy, product diversification strategy, product segmentation strategy, and product liquidation strategy so as to increase the performance of real estate firms in Mombasa County.

Date: 2024
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