This study investigates small firm internationalization from a developing country perspective. Despite the vast literature on small firm internationalization, the differences that exist between developing countries and developed countries remain unexplored. Therefore, current theories are influenced by processes and practices in developed countries, which are then applied blindly to developing countries. This study therefore asks: What are the factors that owners/managers in developing countries understand to influence the scope and pace of internationalization of their small firms?An interpretive approach is adopted to explore the factors that influence internationalization of small firms from developing countries. Consequently, case data from four Botswana firms were collected and analyzed.The literature review and case studies are used to propose a framework of a small firm internationalization from a developing country. The framework identifies major factors that influence small firm internationalization in this context as being; national\entrepreneurial culture, government policies, networks, innovative products, market knowledge and commitment.

The purpose of this study was to demonstrate the usefulness of hybrid market segmentation by identifying segments (e.g., clusters) of consumers using a combination of psychographics, demographic information, and behavioral bases. A sample of 621 saving employed adults from Botswana completed a structured questionnaire at their place of work. Results revealed six segments that depicted unique saving motives, attitudes, and perceptions. The six segments were labeled as “anxious detached, prudent, carefree egoistical, anxious fanatical, pragmatic, and apathetic savers.” Further differences were examined among the segments based on personal values, life satisfaction, usage of saving programs, and demographic information. Results are useful for researchers and practitioners as an alternative approach for analyzing savers through the use of hybrid segmentation. Results such as these could facilitate marketing efforts to serve those who are most likely to save.

Abstract

Purpose: This study seeks to contribute to the discourse of financial savings market segmentation. The study explores different segments of savers on the basis of demographic and psychographic characteristics that are unique to each segment relying on the perspectives of a sample of consumers of financial saving programmes. Design/methodology/approach: Principles of perceptual mapping were used to analyse 33 semi-structured interviews that gathered data on the participants’ psychographic make-up such as personal values, motives for saving, attitudes towards savings and perceived conditions of savings. Findings: Eight distinct segments emerged on each psychographic characteristic based on the participants’ demographics of income, gender and age. However, only five were sizeable enough to be interpreted, being three segments from the males’ category and two from the females’ category. The three segments that emerged within the male category are young low-income earners (YoLI), young high-income earners (YoHI) and old high-income earners (OHI) while the two female segments include YoLI and OHI. The most sizeable segment of savers in both gender-based categories is one of old adults who have a high income. These segments vary in terms of values, motives and perceptions. Originality/value: The study suggests that a multi-dimensional approach of segmenting financial savings markets is more effective, as neither the demographic nor the psychographic segmentation can fully describe the saving behaviour of consumers. Research implications: The findings of the present study provide strategic communication implications for financial institutions for the respective segments.

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