Various Factors Have Contributed to the Growth of Packaging as a Marketing

question 133

True/False

Various factors have contributed to the growth of packaging as a marketing tool and include self-service, consumer affluence, consumer independence, company and brand image, and innovation opportunities.

---

Definitions:

Technological Advance

The development and application of new technologies or improvements in existing technologies, leading to greater efficiency or new capabilities.

Marginal Product

The increase in output that arises from an additional unit of input, holding all other inputs constant.

Power Cords

Electrical cables used to connect appliances and electronic devices to the main electricity supply in order to power them.

Fifth Worker

An example used in economics to illustrate the principle of diminishing returns, where the addition of a fifth worker may lead to a lesser increment in output than the fourth.