Marketing Practices on Firm Performance among Insurance Firms in Juba Central Equatoria State, South Sudan
Author(s)
Olutayo K. Osunsan , Ngida Philemon Simon , Grace A. Byamukama ,
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Abstract
This study investigated the effect of Marketing practices on firm performance in Juba town Central Equatoria State, guided by the study objectives: (i) to examine the effect of product quality on the firms’ performance in Juba, (ii) to determine the effect of distribution on the firm’s performance firms in juba, (iii) to investigate the effects of promotion on the performance of firms in juba, and (iv) to establish the effects of price on the performance of local firms in juba. The research adapted descriptive design, the target population of unity of analysis was 8 Insurance companies and 62 (units of inquiry) successfully participated in the study. The study revealed that: (i) product quality significantly affects firm performance by causing a variance of 49.8% (R2 = 0.498, p =0.000); (ii) distribution significantly affects firm performance by causing a variance of 50.9% (R2 = 0.509, p =.0.000); (iii) promotion insignificantly affects firm performance by causing a variance of 42.4% (R2 = 0.424, p = 0.000); and (iv) price significantly affect firm performance by causing a variance of 26.0% R2=0.260, p =0.000). The study concluded that marketing practices has a significant effect on firm performance. The recommendations were made that firms should: (i) improve product features, labels, attributes; (ii)distribution should be prioritized; (iii)embrace promotional advancement, and (iv) engage competitive pricing. This study therefore adds to the body of knowledge that product quality, distribution, promotion and price all have significant effect on firm performance in the financial industry of South Sudan.
Keywords
Marketing Practices, Firm Performance, Marketing Mix, Insurance Firm, South-Sudan
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