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Pricing Strategies and Marketed Share of Realtors in Kenya

DOI : https://doi.org/10.36349/easjebm.2024.v07i05.005
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The real estate sector in Kenya serves as a fundamental catalyst for economic growth and development, yet it has been underexplored how pricing strategies influence Realtors' market share performance. This study aimed to fill this void by examining the effect of various pricing strategies on Realtors' market share in Kenya. Specifically, it delved into competitive pricing, value-based pricing, segmented pricing, and promotional pricing tactics. The study's objectives encompass identifying prevalent pricing strategies among realtors, assessing their respective market shares, analyzing the correlation between pricing strategies and market share, and exploring how organizational culture moderates this relationship. Employing a desktop research design, the investigation draws upon existing literature, industry reports, and market analyses. The findings indicate that while competitive pricing may yield short-term increases in market share, it could potentially compromise profit margins over time. Conversely, value-based pricing strategies, tailored to unique value propositions, tend to bolster market value and customer loyalty. Segmented pricing approaches stimulate market growth and geographical expansion. However, promotional pricing tactics, while effective in stimulating short-term demand, necessitate careful implementation to avoid long-term repercussions. In summary, adept pricing strategies significantly influence Realtors' market share performance in Kenya. This study underscores the imperative of aligning pricing strategies with organizational culture and market dynamics. Recommendations stemming from this research advocate for supportive policy frameworks, initiatives to enhance consumer awareness, and collaborative efforts among stakeholders to foster sustainable growth within the real estate sector.

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Dr. Afroza Begum

Lecturer, Dept. of Pharmacology and Therapeutics, Shaheed Monsur Ali Medical College & Hospital, Uttara, Dhaka-1230, Bangladesh

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