Repositioning Strategies And Performance Of Fast-Moving Consumer Goods Firms In Kenya
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Manufacturing in Kenya was identified as one of the four pillars in the Big 4 Agenda that was expected to spur economic growth due to its strong forward and backward linkages with other sectors of the economy. However, statistics show that there has been a downward trend on performance of firms manufacturing fast moving consumer goods. The aim of this study was therefore to assess the effect of repositioning strategies (image repositioning, intangible repositioning, tangible repositioning and product repositioning) on performance of firms manufacturing fast moving consumer goods in Kenya. The study used a causal research design. The target population was 193 firms for the period 2016 to 2021. Data was analyzed through regression analysis. The study findings indicated that an increase in adoption of both image repositioning and intangible repositioning strategies resulted to a significant increase in both annual sales and return on assets of firms manufacturing fast moving consumer goods. In addition, the study found that tangible repositioning strategy and product repositioning strategy had insignificant effect on both sales and return on assets. Based on the findings, the study recommends that management of fast moving consumer goods firms increase their investment in adoption of image and intangible repositioning strategies given their positive and significant effect on both sales and return on assets.
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