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Explain international product life cycle model, and draw a figure to illustrate. And what are the...

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General Management

Explain international product life cycle model, and draw afigure to illustrate. And what are the critiques to thistheory?

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The Product LifeCycle represents the five stages that a product experiences from when it enters the market until its decline in the market Introduction In the introduction stage the consumers are unaware of the product and hence there is a lot of investment in marketing and promotional activities There is a low level of competition during this stage It is the introduction stage that gives the company an idea about the consumer response to their product The costs are kept high and the main objective of the introduction stage is to increase the demand for the product with the    See Answer
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