Explain How Packaging Could Be Used as a Marketing Tool

question 34

Essay

Explain how packaging could be used as a marketing tool.

---

Definitions:

Absolute Advantage

Absolute advantage refers to the ability of a country, company, or individual to produce a good or service more efficiently than competitors, using the same amount of resources.

Trade

The trading of goods, services, or a combination of both among two or more entities, domestically or across borders.

Comparative Advantage

The capability of a person, business, or nation to manufacture a product or provide a service with a smaller opportunity cost compared to rivals.

Absolute Advantage

The capability of a country, entity, or individual to produce a particular good or service more efficiently than others, using the same amount of resources.