Abstract
Entrepreneurs all over the world seek ways of introducing their products to international markets; unfortunately, the international marketing environment poses a lot of opportunities and threats to foreign entrants. The cultural, political, and technological environments act as determinant factors in entrepreneurial success in global markets. This study aims to unravel the effects of these international marketing environments on entrepreneurial developments. The study being descriptive and historical relied heavily on secondary sources of information. Analysis revealed that the PESTEL and other human factors have significant impacts on business transactions. Furthermore, the political systems and governmental regulations on business dealings have a lot to do with entrepreneurial success in the international arenas. The study recommends the establishment of a supportive governmental framework to serve as a platform for the willing entrepreneurs to succeed in the international markets.
Highlights
Background to the studyThe international market serves as an avenue for creative entrepreneurs to earn foreign income outside their country of existence
Technology has become a very important factor in most businesses, and it was established that advancement in global technologies does affect most entrepreneurial profitability positively, though not all entrepreneurs have adopted the usage of technological products to transact their businesses
The analyses further revealed that detailed awareness of cultural environments can enhance the business dealings of entrepreneurs in a foreign country
Summary
The international market serves as an avenue for creative entrepreneurs to earn foreign income outside their country of existence. According to Kotler (2007), “international marketing” refers to exchanges across national boundaries for the satisfaction of human needs and wants and the extent of a firm’s involvement abroad is a function of its commitment to the pursuit of foreign markets. Lim et al (2016) stressed that environmental factors are unpredictable and in most times form the basis for decision for local entrepreneurs to break into new markets. There are many ways to break into new untested markets which include exporting, foreign direct investment, joint venture, and international partnerships; all these options seem to tie
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