Challenges Affecting Performance Of Marketing Research Firms In Kenya
Guandaru, Mercy W
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This study sought to investigate the challenges affecting marketing the performance of marketing research firms in Kenya. To achieve this, the study’s objectives were to determine the effect of impactful reporting, cost of research, regulatory framework and technological factors on the performance of marketing firms in Kenya. The study adopted a descriptive research design which allowed the researcher to observe the aforementioned challenges in a natural and unchanged environment and collect in-depth information from the respondents. The target population for this study, therefore, included all research firms in Kenya. The study used individuals in the marketing departments as they were in the best position to understand the challenges the company is facing. Therefore, four main target audiences sought were a finance manager, a marketing manager, a marketing PR consultant and an audit officer from each company that was included in the study. The study also used questionnaires to collect data which was analyzed using SPSS (Version 22). The findings indicated that impactful reporting (M=3.39) was the greatest challenge, followed by regulatory framework (M=3.04), cost of research (M=2.98) and finally technological factors (M=2.92). Further, a Pearson correlation coefficient of 0.151 and significant value of 0.048< 0.05 indicated a positive relationship between impactful reporting and performance of research firm. A negative relationship was established between performance of marketing research firms and cost of research as indicated by a Pearson correlation coefficient of -0.228 and a p value of 0.036<0.05. Additionally, a Pearson correlation coefficient of 0.233 was obtained for the relationship between regulatory framework and performance of marketing research firms. Similarly, this relationship was found to be statistically significant given that its associated significant value was 0.032 < 0.05. Finally, a significant Pearson coefficient of -0.281 was also found for the relationship between technological factors and performance of marketing research firms. This was also statistically significant as indicated by a significant value of 0.043<0. 05. Therefore, this study concluded that the performance of marketing firms is significantly affected by all these challenges. The study therefore recommended marketing research firm to not only ensure that they apply the right technology n research for impactful reports but also consider the costs and legal frameworks associated with marketing research.