IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 3 NO. 9 2017

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The Impact of Innovations and Technology on International Market Growth: Evidence from Developing Nation – Nigeria

Udegbe, Scholastica Ebarefimia

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Abstract

In today’s global market, business are faced with intensive competition and challenges, and research have shown that through proper usage of current technologies and innovations some challenges of sustainable and human development can be addressed,, while also providing added value to firm. Hence this study investigates the impact of technology and innovations on international market growth , with evidence from developing nation – Nigeria . A survey research design was adopted and research was based on convenience sampling method of 150 Nigerian firms involved in international marketing . Data are obtained based on convenience sample of 5 respondents from the marketing department of each of the 150 firms, making a sum total of 750 respondents . 496 useable questionnaires were returned. The data collected were analyzed using descriptive statistics , percentage, and t- test . Validi- ty and reliability test indicated that all variables were valid and reliable. The findings re- vealed that majority of the respondents scored the issues raised in the questionnaire positive- ly, but at different varied levels. Results indicate that firms that are innovative and employ current technology will benefit more in the international market , and thus enjoy increased capacity to develop international network capabilities. Use of technology and innovations enhances international information and international market growth directly or indirectly . Overall, evidence have shown that technology and innovations help in facilitating interna- tional marketing through telecommunications , transportation , globalization of production, advertisement , globalization of markets , e – commerce ,and technology transfer . All these leads to improved performance and international market growth of the marketing firms sur- veyed. Feedback from the research will assist to expand knowledge as to the usefulness of technology and innovation in enhancing international market growth .

keywords:

Technology , Innovation, International market , Growth , Nigeria , Developing nation.

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