Influence of Promotion Strategy on Microinsurance Uptake (Demand) among Micro and Small Enterprises in Nairobi City County, Kenya
DOI:
https://doi.org/10.47672/ijbs.2713Keywords:
Micro and Small Enterprises (MSEs), Promotion, Market Development Strategy, Microinsurance UptakeAbstract
Purpose: The study aimed to investigate the influence of promotion strategies and Microinsurance uptake/demand among micro and small enterprises in Nairobi County, Kenya.
Materials and Methods: The research adopted a positivist philosophy and descriptive research design. A representative sample of 387 MSEs was selected through multistage random sampling from a population of 12,429 registered MSEs in Nairobi County (MSEA, 2024). Data collection involved structured questionnaires, with a pilot test conducted to ensure validity and reliability. Quantitative data were analyzed using SPSS version 27. Descriptive statistics such as means and standard deviations were calculated, while inferential analysis employed multiple regression and correlation techniques to test hypotheses at a 95% confidence level (p < 0.05).
Findings: The analysis revealed strong positive correlations between promotion strategies and microinsurance uptake (r = 0.589), significant at p < 0.01. Regression models showed that the promotion strategies accounted for 34.7% of the variance in microinsurance uptake. The ANOVA results indicate an F-statistic of 159.360 with a p-value of 0.000 further suggesting that the relationship between promotion strategies and microinsurance uptake was statistically significant at the 95% confidence level. The unstandardized coefficient (B) for promotion strategy was 0.516, indicating that a one-unit increase in promotion strategies influence led to 0.516 units increase in microinsurance uptake.
Unique Contribution to Theory, Practice and Policy: The study recommended microinsurance providers should craft targeted promotional campaigns tailored to the unique information needs of MSE’s. Multi-channel strategy that combines face-to-face engagements, SMS alerts, community-based seminars, and digital media advertising are recommended.
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Copyright (c) 2025 Aggrey Mulumbi, Dr. Caleb Odhiambo Onjure, Prof. Jane Muriithi
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