Which of the following theories suggests that firms seek to penetrate new markets over time?
A) theory of comparative advantage.
B) imperfect markets theory.
C) product cycle theory.
D) none of the above

Question

Quizplus · Accepted Answer

The product cycle theory suggests that firms seek to penetrate new markets over time as their product moves through various stages of the product cycle, including introduction, growth, maturity, and decline. This theory also suggests that as a product becomes mature in a market, firms may seek to introduce new or improved versions of the product in other markets to continue growth.

Which of the Following Theories Suggests That Firms Seek to Penetrate