Explain Packaging and Sales Promotion, state the purpose & types of Packaging.

PACKAGING-

Packaging is the science, art & technology of enclosing or protecting product for distribution, storage, Sale, and use. Packaging also refers to the process of designing, evaluation and production of packages. Packaging is heavily integrated into our daily lives. We see it all around us on everyday items such as chocolate bars and potato chips packets- but packaging also provides us with a recognizable logo or packaging. We instantly know what those goods are inside.

The purpose of packaging:

Packaging has several objectives-

Physical protection: The object enclosed in the package may require protection from, among other things, shock, vibration, compression, temperature etc.

What are Consumer products or goods?

Product planner needs to think about products and service on three levels. The most basic level is the core products, which addresses the questions: what is the buyer really buying? The core product stands at the centre of the total product. It consist of the core, problems-solving benefits that consumers seek when they by a product or service.

The product planner must next build an actual product around the core product. Actual product may have as many as five characteristics: a quality level, features, designs, a brand name and packaging.

Finally the product planners must build an augmented product around the core and actual product by offering additional consumer service and benefits.

Which all technique are adopted while doing financial forecasting, also explain problems in financial forecasting.

Technique adopted while doing financial forecasting:

Financial forecasting aims ate predetermining the demand for funds and the avenues where the funds are to be utilized. Thus a systematic projection of the financial data is made in the form of financial statement (fund flow analysis, financial ratio ext). Financial forecasting generates information which is utilized by the management of an enterprise for taking decision s particularly for judging the financial efficiency of the funds and projecting a scale of standards to be followed in the future course. Another important basic objective of financial forecasting is its use as control device. Optimum utilization of funds, by a company can be planned through financial forecasting. Financial forecasting is done by using the following technique

a)  Fund flow analysis

b)  Pro forma financial statements

c)  Cash budget