Evaluation of Factors Influencing Choice of International Markets for Nigerian Export Firms
DOI:
https://doi.org/10.53555/nnbma.v6i6.860Keywords:
Choice of market, Export firms’ decision, Export markets, Nigeria export firms, International market selectionAbstract
This paper sets out to determine factors influencing choice of international markets for Nigerian Export firms. The paper objectives were to determine factors influencing Nigeria export firms’ choice for International markets engagement; to ascertain criteria for Nigerian export firms’ preference or selection of an international market and to examine the decision determinants of Nigeria export firms international marketing involvement. The population of the study is manufacturing companies in the NEPC membership list actively engaged in international marketing. Descriptive survey design was adopted in this study. A total of 90 manufacturing companies actively engaged in international marketing were randomly selected from the NEPC membership list. The research instrument was a structured questionnaire administered on the Marketing Executives of each of the ninety companies actively engaged in international marketing. Eighty two copies of the questionnaire (81%) were retrieved and used for the analysis. Both descriptive and inferential statistics were used in data processing. Simple percentage was used for descriptive analysis, while regression analysis was employed in testing the hypotheses with the aid of SPSS version 20 window. The study found that size and growth potential of the export market, economic factors and political factors are the most influential, and major determinants of the Nigerian manufacturing firms’ that impact on the choice of their international export market and that there is positive relationship between ‘Nigerian export firms’ preference and selection of an international market. The study concludes that improving profit, gain business expansion and to increase sales in the international horizon are significant decision determinants of Nigeria Export firms’ choice for foreign markets to export their products.
References
. Adam J. Koch (2001). Factors influencing market and entry mode selection: developing
the MEMS model Marketing Intelligence & Planning 19/5 351±361, Analysis of Nigeria Firms, Export... (PDF Download Available). Available from:
. Amungo, E. (2016). Examining the factors influencing the international expansion of Nigerian banks. In I. Adeleye, L. White, & N. Boso (Eds.), Africa-to-Africa internationalization: Key issues and outcomes (69–98). Cham, Switzerland: Palgrave Macmillan.
. Athreye, S., & Kapur, S. (2009). Introduction: The internationalization of Chinese and Indian firms trends, motivations and strategy. Industrial and Corporate Change,18(2),209–221.
. Awolusi O. D. (2012). An assessment of critical factors influencing the internationalization of Nigerian service firms. Journal of Research in International Business and Management. 2(8), 213-226.
. Babakus, E. and U. Meyer, (2016). Perceived uncertainty, networking and export performance. European Business Review, 18(1): 4-13.
. Barungi, B., Ogunleye, E., & Zamba, C. (2016). Nigeria 2015: African eco-nomic outlook. Retrieved from africaneconomicoutlook.org
. Bianchi, C. (2014). Internationalisation of emerging market firms: Anexploratory study of Chilean companies. International Journal of Emerging Markets, 9(1), 54–78.
. Bolaji, H., & Chris, A. (2014). Relationship between internationalisation of firms and economic performance: A case study of selected banks in Nigeria. Journal of Economics and Sustainable Development, 5(5),160–166.
. Boojihawon, D. K., and Acholonu, K. K. (2013). Internationalisation process of African banks: An exploratory study. African Journal of Economic and Management Studies, 4(2), 244–266.
. Boso, N., Oghazi, P. and Hultman, M. (2017). International entrepreneurial orientation and regional expansion. Entrepreneurship and Regional Development, 29(1–2), 4–26.
. Cavusgil, S. T., (2014). Differences among exporting firms based on their degree of internationalization. Journal of Business Research, 12: 52-63.
. Dunning, J. H. (1988). The eclectic paradigm of international production: A restatement and some possible extensions. Journal of International Business Studies, 19(1), 1–31.
. Fortanier, F., & Tulder, R. (2009). Internationalization trajectories: Across-country comparison; are large Chinese and Indian companies different? Industrial and Corporate Change, 18(2), 223–247.
. Hoskisson, R. E., Wright, M., Filatotchev, I., and Peng, M. W. (2013). Emerging multinationals from mid-range economies: The influence of institutions and factor markets. Journal of Management Studies, 50(7), 1295–1321.
. Initiative for Global Development & Dalberg Global Development. (2011). Pioneers on the frontier: Sub-Saharan Africa's multinational corporations. Retrieved from http://www.igdleaders.org/wp-content/uploads/IGD-Dalberg-Pioneers-on-theFrontier.pdf
. Johanson, J., and Vahlne, J. E. (1977). The internationalization process ofthe firm—a model of knowledge development and increasing foreign market commitments. Journal of International Business Studies, 8(1),23–32.
. Johanson, J., and Vahlne, J. E. (1990). The mechanism of internationalisation. International Marketing Review, 7(4), 11–22.
. Johanson, J., and Vahlne, J.-E. (2009). The Uppsala internationalization process model revisited: From liability of foreignness to liability of outsidership. Journal of International Business Studies, 40(9), 1411–1431.
. Jormanainen, I., and Koveshnikov, A. (2012). International Activities of Emerging Market Firms. Management International Review, 52(5), 691–725.
. Karafakioglu, M. and T. D. Harcar, (1990). Internal determinants affecting interest in exporting companies. Journal of Global Marketing, 3(4): 17-19.
. Mol, M. J., Stadler, C., & Ariño, A. (2017). Africa: The new frontier for global strategy scholars. Global Strategy Journal, 7(1), 3–9.
. Nigerian Export Promotion Council, (2019). Why export. Lagos: Federal Government Printing Press.
. Ogunusi, G., (1986). Nigerians, export policy management in Nigeria. Management in Nigeria, 34(2): 29-31.
. Ogwo, E.O., (1998). Export marketing for Nigerians’ economic transformation. Management in Nigeria, 34(2-4): 20-25.
. Okusaga, A. O. (2007). International Marketing: An Interdisciplinary Approach, Lagos: World System & Service.
. Omokaro-Romanus, C., Anchor, J. R. and Konara, P. (2019). The internationalization of Nigerian firms: Motivationsand location patterns. Thunderbird International Business Review. 61:75–88. DOI: 10.1002/tie.21962
. Onah, J., (2009). A model of export promotion for Nigeria. Available from http://www.faqs.org/abstract/business.
. Opara, B, C. and Adiele, K. C. (2014). Nigeria Firms’ International Marketing Preference and Export Determinants, Nigeria firms’ international marketing preference and export determinants (pdf download available). Available from: Conference Paper - https://www.researchgate.net/publication November 2014 [accessed mar 19 2018].
. Opara, B. C., (2010). Nigerian firms, non-oil export involvement: An economic transformation paradigm. European Journal of Social Sciences, 40(4): 547-556.
. Panaganniya, A., (1995). What can we learn from China’s export strategy? Finance & Development: 32-35.
. Pawe?, B., (2006). Newly industrialized, globalization and the transformation of foreign economic policy. London: Ashgate Publishing Ltd.
. Testfom, G. and E. Lntz, (2006). A classification of export marketing problems of small and medium size manufacturing firms in developing countries. International Journal of Emerging Markets, 1(3): 262-269.
. William, L. and E.H. Shaw, (2000). Executive insights: Global marketing management at the dawn of the new millennium. Journal of International Marketing, 8(1): 65–77.
Downloads
Published
Issue
Section
License
Copyright (c) 2020 Journal of Advance Research in Business Management and Accounting (ISSN: 2456-3544)
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Terms & Condition
Submission -
Author can submit the manuscript through our online submission process or email us at the designated email id in contact details.
The other mode of submission not accepted than online and email.
Before submission please read the submission guidelines.
NN Publication accepts only article submitted in pdf/doc/docx/rtf file format. Another format except given file formats will no be considered .
Author will be responsible for the error mistakes in the submission files. The minor changes can be done without any cost after publication. But for major changes NN Publication may charges you the editing charges.
Publication (Online) -
The online publication is scheduled on last date of every month, but it can be delayed by 24 to 48 hours due to editorial process if huge number of articles comes to publish in single issue.
Automatic notificatation email will be sent to the all users on publication of an issue, so its author’s duty to check their email inbox or SPAM folder to get this notification.
After publication of article author can not withdraw their article.
If editor’s found any issue after publication of article then the NN Publication have the authority to remove the article from online website.
No refund will be provided after online publication of article.
Publication (Print) -
The print copy publication are sent as per the author’s request after 2 weeks of online publication of that issue.
NN Publication will ship the article by India Post and provide the consignment number on dispatch of print copy.
NN Publication follows all the guidelines of delivery provided by IndiaPost and hence not responsible for delay in delivery due to any kind of reasons.
Refund of hard copy will not be provided after dispatch or print of the journal.
NN Publication will be responsible for raise a complain if there is any issue occurs in delivery, but still will not be responsible for providing the refund.
NN Publication will be responsible to resend the print copy only and only if the print copy is lost or print copy is damaged in delivery / or there is delay more than 6 months.
According to India Post the delivery should be completed with in 1-3 weeks after dispatch of articles.
Privacy Policy-
NN Publicationl uses the email ids of authors and editors and readers for sending editorial or publication notification only, we do not reveal or sell the email ids to any other website or company.
