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Product packaging:
Meaning & definition:
The packaging of a consumer product is an important part of the marketing plan. There are many factors to be considered while designing a package. A good number of companies adopt square packages in place of round packages which save space. "Lipsticks and eyebrow convenience and promotions considerations". According to the William J. Stanton, "packaging may be defined as the general group of activities in product planning which involves designing and producing the container or wrapper for a product.
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The product margin is calculated as product sales minus the direct costs of selling the product.
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