According to the theory of the international product life cycle, which of the following happens when a product becomes standardized?

Question

Quizplus · Accepted Answer

When a product becomes standardized, production by the innovating company often declines because other companies, possibly in other countries, start producing similar products often at a lower cost. This increased competition can lead to a decrease in production by the original innovating company.

According to the Theory of the International Product Life Cycle