International Product Life Cycle Theory

Yanko Petrov, CEO of a Bulgarian based dairy products manufactuer is gathering information to consider foreign direct investment and a location for their new product. Since this is a new product (special kind of feta cheese) and is not being sold anywhere, I would recommend following the international product life cycle theory.
The international product life cycle theory constitutes 3 different stages for a "brand new product". The first stage is "new product", which recommends that the product is produced in the home country. …