Commerce

Principle of Marketing: Packaging as a Marketing Mix

len Alfred Ajibola - Sun, 12th April, 2020 @ 11:59: AM

Topics in Commerce

Principle of Marketing: Positioning as a Marketing Mix Principle of Marketing: Packaging as a Marketing Mix Elements of Promotion in Marketing Mix Principle of Marketing: Promotion as a Marketing Mix Principle of Marketing: Place as a Marketing Mix Principle of Marketing: Price as a Marketing Mix Principles of Marketing: The 7 Ps of Marketing Mix Factors necessary for Division of Labour Disadvantages of Division of Labour Advantages of Division of Labour Outbound Marketing explained Inbound Marketing explained Production - Types of Production Commerce: Definitions and Scopes of Commerce Differences between Balance of Trade and Balance of Payments Balance of Payment Deficit and Balance of Payment Surplus Disadvantages of Foreign Trade Divisions of Foreign Trade Advantages of Foreign Trade What is Foreign Trade? Types of Foreign Trade


Academic Questions in Commerce

Please check out our Test Your Knowledge page to see all Questions and Answers

The followings are advantages of division of labour EXCEPT _____.

  • A. It promotes the use of machines in production industries
  • B. There is an increase in profit
  • C. It saves time and expenses of training
  • D. It fosters the spirit of division
  • E. It increases the production of quality goods and services in the market
  • F. It increases a country's economic growth

Which of the following statement is incorrect concerning division of labour?

  • A. It is the specialization of works
  • B. It can become monotonous
  • C. It is the specialization of processes
  • D. The nature of a job is not a condition for division of labour
  • E. A person performs only a part of the job
  • F. Division of labour has some of its drawbacks

What does a bearer cheque mean?

What is an order cheque?

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Packaging as a Marketing Mix:

Have you wondered why various organizations have their respective dress codes as a part of their ethical protocol?

Well, there is this saying that: 'First impression matters a lot'. In another instance, others would say: 'The way you dress is the way you would be addressed'. In fact these popular sayings confirms the concept of packaging. The way and manner at which your product is packaged and presented will go a long way towards stimulating the interest of its consumers.

Simply put, product packaging is referred to as the external looks of a product. It may also be referred to as branding.

You can read on Promotion as a Principle of Marketing Mix here.

Although, a product's content remains the most important goal of production, however, the product's packaging act as a means of enticement towards the product's content. For instance, a friend of mine who's a caterer made a cake for a friend. He collected N2,000 for the job. However, he was shocked after he saw the exact cake he had made carefully packaged and posted on facebook by the one who gave him the job. To summarize the long story, the cake was negotiated at N30,000 while my friend was paid only N2,000; all thanks to packaging.

Please read on the concept of the 7 Principles of Marketing here.

Product packaging requires that those who work as product marketers dress in a certain way and style that gives them a much presentable and professional look. In fact, you may have noticed that the majority of marketers nowadays are ladies. This is so because ladies tend to find a way of constantly packaging themselves, thus attracting more consumers or customers towards their products. (Men do package themselves too).

Please read on Marketing and Branches of Marketing here.

Note: Just a look at a company's sales representative, one should be able to tell the organization in which the person works with; and that's an attribute of packaging.

Packaging goes beyond the marketers' dress sense. It encomprises the followings:

  • The company's location.
    Please read on Place as a Principle of Marketing Mix here.
  • The external and internal appearance of the company's offices.
  • The designs of the company's brochures, identity cards and so on.
  • Quality of the company's website.
    You can read on Inbound Marketing here.
  • Fluency and eloquence in the manner of speech of the company's representative or staff. We often see this instance in media presenters.
  • Official telephone lines and customized emails.
  • Quality of the company's customer service. An instance of this is seen in certain restaurants located in the exotic parts of a state. Such restaurant sell their foods and drinks at higher prices. For instance, a 35cl bottle of Coca-Cola may sell for N250 instead of the usual N50.
    Please read on Price as a Principle of Marketing Mix here.

In summary, we hope you can see some elements of packaging in Len Academy's website through the organization and arrangement of our educational articles.

You can check out the 'Test your knowledge' segment of Len Academy here.

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Alfred Ajibola is a Medical Biochemist, a passionate Academician with over 7 years of experience, a Versatile Writer, a Web Developer, a Cisco Certified Network Associate and a Cisco CyberOps Associate.


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Amazing facts in Commerce

Amazon is an e-commerce website launched in 1995. It did not make any profit for its first seven years.
Amazon's first profit was in 2003. Its founder "Jeff Bezos" is the richest man in the world as at 2018/2019


NOTABLE POINTS IN Commerce

Commerce can be defined as the exchange of goods and services, usually for money and on a large scale that will require the transportation of such goods and services.

Commerce is very important to the life of any Nation for the following reasons:

  1. Commerce facilitates the exchange of goods and services which everyone can enjoy, regardless their location or whether the goods is produced within or outside their country.
  2. Commerce creates an awareness of the existence of goods and services through advertising.
  3. Commerce offers employment to a very large number of people in a Nation.
  4. Commerce promotes rapid transfer of both oral and written messages through communication.
  5. Commerce determines the standard of living in a Nation. This is because the extent of commercial activities is crucial to wealth of  a nation.
  6. Commerce makes for the protection against risk in day to day business operations.
  7. Through commerce, there is a steady supply of goods in a Nation. This is because commerce ensures that goods produced are stored until needed.

A public company is not owned by an individual. Usually, it is owned by groups or a very large number of people.

The shares of a public company are traded freely on the stock exchange.

Below are some features of a public company

  1. A public company must receive it’s training certificate to commence business.
  2. The minimum membership is two while the maximum membership is limitless.
  3. A public company has a legal status. It can sue and be sued.
  4. A public company files and publishes its annual reports, including its accounts.
  5. The liability of its members is limited.
  6. The shares are easily transferrable through the stock market.
  7. A public company can issue debentures to be secured as its assets.

Please read on the types of business structure here

The four elements of the marketing mix are usually referred to as the 4 “P”. These are:

  1. Product: Anything thing that satisfies a consumer’s need is referred to as a product. Product may come in the form of manufactured goods, raw materials or services.
  2. Price: Price is defined as the exchange value of goods and services supplied. In simple terms, it serves as a mechanism of exchange.
  3. Promotion: It involves all the processes that concerns with how business organizations should inform their customers about its product. If done properly, the demand of product will be increased. Promotions can take the form of advertising, search engine optimization, social media marketing, trade fairs exhibition and so on.
  4. Place: The place as a marketing mix concerns variables such as location and transport facility where the distribution of goods and services take place.

Think of marketing mix as the set of marketing tools that an industry or company uses to drive or accomplish its marketing objectives in the target market