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Country classifications Essay Topics & Paper Examples

Product Life Cycle

INTERNATIONAL PRODUCT LIFE CYCLE The international product life cycle is a theoretical model describing how an industry evolves over time and across national borders. This theory also charts the development of a company’s marketing program when competing on both domestic and foreign fronts. International product life cycle concepts combine economic principles, such as market development and economies of scale, with product life cycle marketing and other standard business models. The four primary elements of the international product life cycle theory are: the structure of the demand for the product, manufacturing, international competition and marketing strategy, and the marketing strategy of the company that invented or innovated the product. These elements are categorized depending on the product’s stage in the traditional…