Question

what conclusions can you draw (theoretical perspective) ablut product life cycles and internation trade theories?

Answer 1

the term production life cycle refers to the length of time a product is introduced to consumers into the market until it is removed from the shelves the life cycle of a product is broken into four stage : introduction , growth, maturity and decline this conceen it is deciding whactor in pt is used by managment and by marketing professional as a factor in deciding when it is appropriate to increaase advertising, reduces price expand to new markets or redesign packing the process of stratezing ways to continiously support and maintain a product is called product life cycle mangament.

also we can say that,

A product lifest of cycle is the amount of time a product goes from being introduced into the market until its taken off the shelves product life cycle helps inform business decision making from pricing and promotion to expansion or cost cutting newer more successful products push older ones out of the market

HOW PRODUCT LIFE CYCLE WORK

products like people , have life cycles .A product begins with idea and within the confines of modern business is not likelyto go further until is not likely to go furhter until it undergoes research and developemnt and is found to be feasible and pottentially profitable at that point the produced is produced , markketed and rolled out

as mentioned above there are four genreally accepted stages in lfe cycle of product - introduction ,growth , maturity and decline

introduction: this phase genrally includes a substantial investment in advetising and a market focused on making consumer aware of the product and its benifits.

GROWTH; if the product is successful if then moves to the growth stage this is characterized by growing demand an increase in production and expansion it is avilability

maturity: this is the most profitable stage while the cost producing and marketing decline

decline A product takes on icreases competion as other compa emulate its success sometimes with enhacements or lower price the prouct may lose market share and begin ot decline

when a product is successfully introduced into the market demand increases therefore increasing its popularity these newer product end up pushing older ones out of the market effectively replacing them companies tend to curb their marketing efforts as a new product grows that s because the product drops when demand wanes it may be taken off the market completley

special consideration:

companies that have a good handle on alll four stages can incerase profitability and maximize their returns those that arent able to may experience an increase in their marketing and production cost ultimately lending to the limited shelf life of this product

many brands that were american icons have dwindeled and died better managment of product life cycles might have saved some of them or perhaps at their times had just come some examaple. many l of the most succesful products are suspended in the mature stage for as slong possible undegoing minor updates and redesigne to keep them differentiated  example include apple computers and iphones ford best selling trucks and starbucks coffee all which undergo minor changes acccmpined by marketing efforts are designed to keep them feeling unique and special eye of consumer.

INTERNATIONAL TRADE THEORIES : international trade can be defined as the trade across different countries international trade enhances efficiency by allocating resources to increase the amount produced for a given level of efforts free trade could bring out about world peace by substituing commercial relationship among individuals for competitive relationship between states

it has various advantages : INNOVATION: trade isthat it promotes dynamism and innovation within an economy

competion : selling goods and services in the foreign market also boosts the competiopn in that market .in a way, it is a good for local suppliers and consumers as well suppliers wil have to ensure that their prices and quality is competetive enough to meet the foreign competion,

transfer of technology : international trade often leads to the transfer of technology from a developed nation to the devloping nation govt in the developing nation involve developing local manufacturing capacities .

More job creation: increase in international trade also creates job oppurtunites in both countries this is a major reason why big trading nations lile us , japan and south korea have lower unemployent rate

there are so many disadvantages of international trade

over dependence , unfair to new companies , a threat to national security pressure on natural resources

so we can conclude that international trade and production life cycle managment go hand in hand.