Raymond Vernon's IPLC Theory

Raymond Vernon’s IPLC Theory: Meaning, Stages, Application, and Criticisms

What is IPLC Theory? Prof. Raymond Vernon developed the International Product Life Cycle (IPLC) theory in 1966. He explained how a product produced in the home country gets international market and starts exporting and ultimately how the international market force the home country to start importing. According to Vernon, demand for new innovative products grows …

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