Product life-cycle theory
id:
product-life-cycle-theory-256-11307532
title:
Product life-cycle theory
text:
The Product Life Cycle Theory is an economic theory that was developed by Raymond Vernon in response to the failure of the Heckscher–Ohlin model to explain the observed pattern of international trade. The theory suggests that early in a product's life-cycle all the parts and labor associated with that product come from the area where it was invented. After the product becomes adopted and used in the world markets, production gradually moves away from the point of origin. In some situations, the
brand slug:
wiki
category slug:
encyclopedia
description:
Theory to describe international trade patterns.
original url:
https://en.wikipedia.org/wiki/Product_life-cycle_theory
date created:
date modified:
2023-11-27T11:43:33Z
main entity:
{"identifier":"Q2111809","url":"https://www.wikidata.org/entity/Q2111809"}
image:
fields total:
13
integrity:
14