Assessment of market orientation of commercial banks in Uganda
Abstract
The main objective of this study was to examine the techniques used in market orientation in commercial banks, to find out the challenges of market orientation practices in commercial banks in Uganda, and to examine the strategies of solving the challenges of market orientation used in commercial banks and make policy proposals to improve market orientation among commercial banks in Uganda. The researcher adopted descriptive research method. Purposive sampling method was used to select the respondents used in this study. The study also used questionnaires and interview methods. The statistical package for social scientist (SPSS) was used to analyse the data collected and the findings were presented using frequency tables.
According to the research findings, majority of the respondents were in disagreement that commercial banks employ the right techniques of market orientation which makes it hard for commercial banks in Uganda to use the available knowledge of market orientation to compete in the industry. The study results also revealed that commercial bank in Uganda are facing a challenge of poor information flow between the banks and their customers which affect their market orientation. On objective three it was concluded that most the strategies adopted by the commercial banks are not effective in solving the challenges of market orientation in commercial banks in Uganda. The study recommends that management should adopt policies which enforce practices of market orientation most effectively and efficiently to ensure business sustainability. Finally, the researcher recommends commercial banks to improve their market orientation techniques so as to market orientation.