In His Product Life-Cycle Theory,Raymond Vernon Argued That for Most

question 136

Essay

In his product life-cycle theory,Raymond Vernon argued that for most of the twentieth century a very large proportion of the world's new products had been developed by U.S.firms,produced in the U.S. ,and sold first in the U.S.market.What reasons does he cite for U.S.firms basing initial production at home and not at some low-cost foreign location?

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Definitions:

Perceptual Processes

The means by which individuals organize and interpret their sensory impressions to give meaning to their environment.

Cephalocaudal Development

A pattern of growth where development proceeds from the head downwards through the body.

Toddler

A child who walks with short, uncertain steps.

Neonates

Newborn infants, especially those in the first four weeks after birth, emphasizing early developmental and care needs.