Commercial Applications
A company decides to change the packaging of its product to make it more eco-friendly. Which elements of the marketing mix does this decision impact?
- Product and Price
- Place and Promotion
- Product and Promotion
- Price and Place
Answer
Product and Promotion
Reason — Packaging is a component of the product mix as it is part of product features. At the same time, eco-friendly packaging can be highlighted in advertisements and used as a promotional tool to attract environmentally conscious customers, thus impacting the promotion mix as well.
Related Questions
Assertion (A): The concept of the product life cycle suggests that all products follow a predictable pattern of stages from introduction to decline.
Reason (R): The length of each stage in the product life cycle is not fixed and vary based on industry or product type.
- A is true but R is false
- A is false but R is true
- Both A and R are true and R explains A.
- Both A and R are true but R does not explain A.
Which of the following is not included in the function of physical supply?
- Standardization
- Storage
- Packaging
- Transportation
…………… refers to the pathway, path or route taken by goods as they flow or move from the point of production to the point of consumption or use.
- Channel of distribution
- Direct marketing
- Intensive distribution
- None of these
Which of the following is/are correct statement(s)?
Statement 1: Parity pricing is an appropriate strategy when there is little competition and product differentiation.
Statement 2: Cost-plus pricing is used when a firm wants to cover its costs and achieve a reasonable profit margin.
- Only Statement 1 is correct.
- Only Statement 2 is correct.
- Both statements are correct.
- Both statements are incorrect.