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The profit earned by a product is at its lowest during the _____ stage of the product life cycle.
Venus Inc., an American firm, enters into the Chinese market in association with its local partner, Xy Inc. According to the terms of the contract, the firms agreed to share profits and control, and also pool resources. Moreover, the firms also agreed to share financial burdens as well. This scenario is an example of _____.
Which of the following firms is using a product development strategy?