Abstract: Savings and Credit Cooperative Societies despite their crucial role of providing financial services to the unbanked, and their geographical spread, have been challenged by the competitive forces as a result of concentration of financial service providers in the market. The study examined the influence of product differentiation strategies and market innovation strategies on customer satisfaction in SACCOs in Nakuru County, Kenya. The Porter’s generic competitive strategies and technology acceptance model guided the study. The researcher used descriptive survey design. The accessible population encompassed the 20 deposit-taking Saccos operating in Nakuru County. A simple random sampling technique was employed to select a sample of 384 customers. Questionnaires were used to assist in data collection. The questionnaire was pilot tested to assess its validity and reliability before its use in the main study. Both descriptive and inferential statistics were used in the analysis of the collected data. The results of the study established that product differentiation strategy and technology innovation strategy had a positive relationship with customer satisfaction. It was concluded that high technological improvements, the aforementioned firms should engage in new, improved ways and innovations to ensure they firmly stay competitive as well as maintain high-end service quality. Furthermore, the study recommended that the Saccos ought to engage their clients on ways of improving their services, for example through customer satisfaction surveys and implement the findings.
Keywords: Competitive strategies, customer satisfaction, deposit-taking Saccos, differentiation strategies, market innovation strategies.
Title: INFLUENCE OF COMPETITIVE STRATEGIES ON CUSTOMER SATISFACTION OF DEPOSIT TAKING SAVINGS AND CREDIT COOPERATIVE SOCIETIES IN NAKURU COUNTY, KENYA
Author: Tallam Dinah Jemursoi, Wanyoike Daniel
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
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