Question

The following table lists an assortment of characteristics (production requirements and locations) pertainingg to the three phases of the product cycle. For each of these characteristics indicate the phase (early, middle, or late) to which the characteristic is most likely associated. Do this by substituting the appropriate label into the response box for each characteristic: use E to denote Early, M for Middle, and L for Late. Characteristics Standardized manufacturing routines are increasingly common, using low- skilled and semi- skilled labor in assembly type operations. Pressure is on high -income markets too turn toward the use of new products. Access is needed to capital that is willing to risk failure and an initial period of little or no profits. An increasing share of the world's output is moving to countries where labor costs are low. The product itself begins to be standardized in size, features, and manufacturing process There must be a consumer base with substantial income and skilled marketing to advertise information about the product.

Answer 1

M - standardized manufacturing routines are increasingly common, using low - skilled & semi - skilled labor in assembly type operations

L - Pressure is on high-income markets to turn toward the use of new products

E - Access is needed to capital that is willing to risk failure and an initial period of little or no profits

E - An increasing share of the world's output is moving to countries where labor costs are low.

L - The product itself begins to be standardized in size, features, and manufacturing process.

E - There must be a consumer base with substantial income and skilled marketing to advertize information about the product.