Why is it important to understand how products are classified in terms of their position in their life cycle?


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Why is it important to understand how products are classified in terms of their position in their life cycle?


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Why is it important to understand how products are classified in terms of their position in their life cycle? Do branding, packaging and labeling really benefit consumers? Should manufacturers be required to provide certain information on their labels (if so, what types of information should be required?). Explain and provide examples.