Raymond Vernon's product life cycle theory stemmed from the idea that for most of the twentieth century,
A) European industries guided the rest of the world in new products.
B) cost-saving processes were not as important as the development of new products.
C) many of the world's new products were developed and first sold in the United States.
D) most new products were developed for the manufacturing and agricultural industries.
E) the United States had lower technology-driven innovations than other developed nations.

Question

Quizplus · Accepted Answer

Raymond Vernon's product life cycle theory suggested that many new products were initially developed and sold in the United States due to its large market size and high-income consumers, which drove innovation.

Raymond Vernon's Product Life Cycle Theory Stemmed from the Idea