Branding and packaging are two areas in which a company can design a p

QUESTION

Branding and packaging are two areas in which a company can design a product in a way that will make it be perceived differently enough from competitors’ products that it will attract consumers.

Indicate whether the statement is true or false.

ANSWER

Answer: TRUE
Explanation: Product differentiation is the attempt to design a product in a way that will make it be perceived differently enough from competitors’ products that it will attract consumers. Two important ways to differentiate a product are through branding (a unique name, symbol, and/or design) and packaging (a unique covering or wrapping).