International Trade Meaning and Definition of Product Cycle Theory
Meaning of Product Cycle Theory
Product cycle theory views the products of the successful firm as evolving through four stages: (1) infancy, (2) growth, (3) maturity, and (4) decline.
Related Entries of Product Cycle Theory in the Encyclopedia of Law Project
Browse or run a search for Product Cycle Theory in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.
Product Cycle Theory in Historical Law
You might be interested in the historical meaning of this term. Browse or search for Product Cycle Theory in Historical Law in the Encyclopedia of Law.
Legal Abbreviations and Acronyms
Search for legal acronyms and/or abbreviations containing Product Cycle Theory in the Legal Abbreviations and Acronyms Dictionary.
Browse
You might be interested in these references tools:
| Resource | Description |
|---|---|
| Product Cycle Theory in the Dictionary | Product Cycle Theory in our legal dictionaries |
| Related topics | Browse topics from the World Wiki Encyclopedia of Law |
| Browse the Legal Thesaurus | Find synonyms and related words of Product Cycle Theory |
| Legal Maxims | Maxims are established principles that jurists use as interpretive tools, invoked more frequently in international law |
| Legal Answers (Q&A) | A community-driven knowledge creation process, of enduring value to a broad audience |
| Related topics | Product Cycle Theory in the World Encyclopedia of Law |
What is Product Cycle Theory?
Vocabularies (Semantic Web Information)
| Resource | Description |
|---|---|
| Topic Map | A group of names, occurrences and associations |
| Topic Tree | A topic display format, showing the hierarchy |
| Sitemap Index | Sitemap Index, including Taxonomies |
| https://legaldictionary.lawin.org/product-cycle-theory | The URI of Product Cycle Theory (more about URIs) |
Product cycle theory in Global Commerce Policy
In this regard, product cycle theory is: proposed by Raymond Vernon in 1966. The entries on trade policy are here. It states that highly industrialized countries enjoy a comparative advantage in the research and development of new products because they have better access to capital and specialized human resources. The product cycle is assumed to consist of several stages, beginning with production in a small custom- oriented market, later becoming the domain of the multi-national firm and reaching its apex with the manufacture of the product in lower-cost countries from where the product is re-exported to the market in which it had been developed originally. See also Heckscher-Ohlin theorem.[1]
Product cycle theoryin the wold Encyclopedia
For an introductory overview on international trade policy, see this entry.
Resources
Notes and References
- Dictionary of Trade Policy, “Product cycle theory” entry (OAS)
Leave a Reply