Question

which trade theory grew out of the fact that for most of the twentieth century, the majority of the new products in the world were developed by u.s. firms and first sold in the u.s. market?

Answer 1

product life-cycle trade theory grew out of the fact that for most of the twentieth century, the majority of the new products in the world were developed by u.s. firms and first sold in the u.s. market.

What is the product life cycle?

Four stages make up a product life cycle: introduction, growth, maturity, and decline. Many items are still in a stage of extended maturity. In every product life cycle, the product, however, eventually disappears from the market. German economist Theodore Levitt created the idea and released his Product Life Cycle model in the Harvard Business Review in 1965. This model is still in use today. The product life cycle is crucial to marketing since it aids in defining and deciding on tactics for a certain product. It functions as "a forecasting tool, planning tool, control tool, and estimated for profits,".

To learn more about the product life cycle click on the given link:

https://brainly.com/question/29406682

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