Growth Strategies and Sales Performance of Private Security Companies: The Case of WS Insight Limited

Abstract

The purpose of this study was to examine the impact of growth strategies on sales performance of private security companies, namely WS Insight Limited. The specific objective of the study was to find out how market penetration strategy implementation affects the sales success at WS Insight Limited. The resource-based theory, core competency theory, goal attainment theory and contingency theory were used to guide the research. Descriptive survey design was adopted. The target group included 71 management workers from the executive, senior, middle and junior management levels who were in charge of strategy execution. The study discovered that majority of respondents agreed that in the last eight years, WS Insight Limited had boosted its advertising and marketing activities to raise brand awareness and had used new distribution channels to grow market sales. Between 2013 and 2020, there was the implementation of tactics such as price discounts and fair pricing, as well as the formation of strategic alliances, as evidenced by a composite mean of 3.98 and standard deviation of 0.851. The study also discovered that the current economic climate and political considerations influence strategic decision-making. The study concluded there is a link between growth strategies and sales performance, with market penetration strategy execution being the most important independent variable. The study recommended that the company should increase its advertising and marketing operations in order to expand into new markets. It is also suggested that management should encourage the best use of distribution networks and price discounting tactics, as this would help the company penetrate the market and increase sales. Keywords: Growth Strategies, Market Penetration Strategy Implementation, Sales Performance, WS Insight Limited, Kenya