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Concept information

... > social science subjects > business and management > international business > economics of international business > economic theories of international business > product life cycle hypothesis

Preferred term

product life cycle hypothesis  

Definition(s)

  • Attempting to explain patterns of international trade, Raymond Vernon observed a circular phenomenon in the composition of trade between countries in the world market. Advanced countries, which have the ability and competence to innovate as well as high-income levels and mass consumption, become initial exporters of goods. [Source: Encyclopedia of Business in Today's World; Product Life Cycle Hypothesis]

Broader concept(s)

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URI

http://data.loterre.fr/ark:/67375/N9J-DZT06K2X-5

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