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PLCTProduct Life Cycle Theory
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Finally, Norway holds the Product Life Cycle theory, as basic metals and fabricated metal products may have reached the maturity phase, when the capital abundant, high-skilled labor Norway is decreasing its exports and lower-labor cost Lithuania is increasing the exports of metalworking industry's products.
Faktoriai, lemiantys tarptautines prekybos atsiradima (parengta autoriu) Type of Factor Factor Theory Production costs Absolute advantage theory Productivity Comparative advantage theory, Melitz theory Internal Innovation Product Life Cycle Theory Need to reach New Trade Theory economies of scale Firm strategy and Porter's Diamond of structure Competitive Advantage Political environment Mercantilism, Porter's Diamond of Competitive Advantage External Factor endowment Heckscher-Ohlin theory, Porter's Diamond of Competitive Advantage Consumer demand Linder's overlapping product ranges theory, Porter's Diamond of Competitive Advantage Rivalry Porter's Diamond of Competitive Advantage Table 3.
Dhalla and Yuspeh's article is the one most quoted as the premiss for recent scepticism over the product life cycle theory's general applicability (Mercer, 1993a).
The product life cycle theory draws an analogy with the life cycle of human beings, in that every product in a market is mortal.
Dhalla and Yuspeh (1976) substantiate this rationale with their research, which found many cases where a brand was dropped because management, on the basis of the product life cycle theory, believed the brand had reached a dying stage.
This research shows there is a clear lack of evidence of the end stage of the life cycle, which itself weakens the assumption that the product life cycle theory is applicable generally.
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