Explain the trade payment methods and product cycle

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Trade payment methods include cash, credit, and electronic transfers. Product cycle includes development, introduction, growth, maturity, and decline.

Trade payment methods refer to the ways in which a buyer can pay for goods or services.
Cash payment involves physical currency exchange.
Credit payment involves borrowing money and paying it back with interest.
Electronic transfers involve the use of technology to transfer funds.
Product cycle refers to the stages a product goes through from development to decline.
Development involves research and design.
Introduction involves launching the product to the market.
Growth involves increasing sales and market share.
Maturity involves stabilizing sales and maximizing profits.
Decline involves decreasing sales and eventually discontinuing the product.

Explain the trade payment methods and product cycle

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