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    Prelim Assignment 3 Apuan

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    Primo Horne
    This document contains a student's responses to questions about product lifecycles and international trade theories. It discusses: 1) The relevance of the international product lifecycle theory, which proposes products go through stages from introduction to decline. 2) Why the product lifecycle theory is important for tracking performance at each stage of a product's development and success. 3) The stages of the product lifecycle theory, including the introduction phase where marketing creates awareness to spur initial demand. 4) How trade theories provide logical explanations for why nations trade but have limitations due to their underlying assumptions.

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    Prelim Assignment 3 Apuan

    Uploaded by

    Primo Horne
    436 views2 pages
    This document contains a student's responses to questions about product lifecycles and international trade theories. It discusses: 1) The relevance of the international product lifecycle theory, which proposes products go through stages from introduction to decline. 2) Why the product lifecycle theory is important for tracking performance at each stage of a product's development and success. 3) The stages of the product lifecycle theory, including the introduction phase where marketing creates awareness to spur initial demand. 4) How trade theories provide logical explanations for why nations trade but have limitations due to their underlying assumptions.

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    This document contains a student's responses to questions about product lifecycles and international trade theories. It discusses: 1) The relevance of the international product lifecycle theory, which proposes products go through stages from introduction to decline. 2) Why the product lifecycle theory is important for tracking performance at each stage of a product's development and success. 3) The stages of the product lifecycle theory, including the introduction phase where marketing creates awareness to spur initial demand. 4) How trade theories provide logical explanations for why nations trade but have limitations due to their underlying assumptions.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    436 views2 pages

    Prelim Assignment 3 Apuan

    Uploaded by

    Primo Horne
    This document contains a student's responses to questions about product lifecycles and international trade theories. It discusses: 1) The relevance of the international product lifecycle theory, which proposes products go through stages from introduction to decline. 2) Why the product lifecycle theory is important for tracking performance at each stage of a product's development and success. 3) The stages of the product lifecycle theory, including the introduction phase where marketing creates awareness to spur initial demand. 4) How trade theories provide logical explanations for why nations trade but have limitations due to their underlying assumptions.

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    © All Rights Reserved
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    of 2

    REYMOND T APUAN

    OLAU11A8
    UA202000286
    ACTIVITY #3

    Directions: Read and answer the following questions below.

    1. Describe the relevance of a product life cycle. Use inferences from the International
    Product Lifecycle Theory.

    The International Product Lifecycle Theory is a study of the market-driven evolution of


    products. It has numerous applications and uses, such as marketing and consumer
    behaviour. This theory proposes that over time, all products naturally go through stages.
    The product life cycle starts with introduction and ends in retirement or obsolescence.
    The product life cycle consists of five phases: development, growth, maturity, decline
    and termination or retirement. For example, an iPhone was introduced in 2007 as a new
    technology to Apple Inc.

    2. Why does the International Product Lifecycle Theory hold more relevance these
    days?

    There is another very important reason why the product life cycle is and will always be
    important: tracking. Not only does the product life cycle process matter, but each
    individual stage matters a great deal in terms of both development and your eventual
    success.

    3. Discuss the stages in the International Product Lifecycle.

    The introduction phase is the period where the new product will be introduced into its
    target market. This includes marketing strategies designed to create awareness for the
    product among potential buyers in order to spur demand. It can take several years after
    product introduction before revenue generation is substantial enough for it to be
    considered profitable through its contribution margin or return on investment (ROI).

    4. “Trade Theories provide logical explanations about why nation trade with one
    another but such theories are limited by their underlying assumptions.” Substantiate.

    In the article "Trade Theory Provides Logical Explanations about Why Nation Trade with
    One Another" from Trade Theory, it is mentioned that trade theories also have
    limitations. The article mentions the implications of these theories as to what they
    assume and this limitation is due to these assumptions. There are many trade theories
    that have been written and published in economics textbooks over time that have come
    to influence a nation's economy. The article has given an example of how free-trade
    theory might not be a good solution for all countries as it tends to work better in certain
    cases than others. They provide a logical explanation for why nation's trade with one
    another but such theories are limited by their underlying assumptions that may create
    some limitations on them.

    5. “The most serious shortcoming of classical trade theory is that they ignore the
    marketing aspect of trade.” What do you mean by this statement?

    The most serious shortcoming of classical trade theory is that they ignore the marketing
    aspect of trade.” What do you mean by this statement? A classical, country based
    international trade theory that states that a country's wealth is determined by its
    holdings of gold and silver.

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