INTRAPRENEURSHIP INNOVATION STRATEGIES AND PERFORMANCE OF REAL ESTATE FIRMS IN KIAMBU COUNTY, KENYA

Abstract

The real estate sector in Kiambu County, Kenya is experiencing rapid growth due to urbanization, infrastructural development, and increased investment. However, real estate firms continue to face performance challenges, including fluctuating property demand, high operational costs, regulatory constraints, and limited access to financing. These challenges necessitate the adoption of intrapreneurial innovation strategies to enhance firm performance. This study examined the effect of intrapreneurial innovation strategies on the performance of real estate firms in Kiambu County, Kenya, focusing on market segmentation and innovation accounting. The study was anchored on Market Segmentation Theory and Signaling Theory, which provide a theoretical foundation for understanding the impact of these strategies on business performance. The study employed a descriptive research design to systematically analyze the relationship between intrapreneurial innovation strategies and firm performance. The target population consisted of 1,524 registered real estate firms in Kiambu County, with a sample size of 317 firms, determined using Yamane’s (1967) formula. A stratified random sampling technique was used. Primary data was collected through structured questionnaires, which was tested for validity and reliability before data collection. Data analysis was conducted using SPSS Version 28. Content of the questionnaire was approved by the supervisors and marketing managers in the real estate sector. Findings show that; there is a strong positive and statistically significant relationship between market segmentation and performance of real estate firms in Kiambu County, Kenya, and a strong positive and statistically significant relationship between innovation accounting and performance of real estate firms in Kiambu County, Kenya. The recommendations are; real estate firms should invest in advanced data analytics tools to segment customers based on the changing demographics, psychographics, geographical, and customers’ behaviours and the firms should adopt innovation accounting structures that evaluate the financial feasibility and effect of new products, services, and technologies.

Key Words: Intrapreneurial Innovation Strategies, Performance of Real Estate Firms, Market Segmentation, Innovation Accounting, Kiambu County, Kenya