From innovation to internationalisation: the product cycle model

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Chapter 3 in The Development of International Business, 2017, pp 26-35 from Edward Elgar Publishing

Abstract: Presents Vernon’s product cycle model as a ‘stand-alone’ contribution, offered before systematic analysis of IB had really commenced, which in retrospect anticipates key concepts that were later formalised. These include the origins of OAs (the innovation stage); initial internationalisation in an essentially Market Seeking (MS) mode, reflecting a particular (‘negative’) type of location advantage (LA); the move to Efficiency Seeking (ES) production in intra-group supply networks (‘positive’ LAs of host countries – that is, cost-competitive inputs). Also suggests that Vernon’s work exemplifies a key theme of the book. It starts from a theoretical issue in international economics (the relationship between trade and FDI) but approaches it through a practical concept from marketing (the life-cycle of a product).

Keywords: Business and Management; Economics and Finance (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (5)

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