Packaging is said to have the unique capacity to make products stand out in a crowded marketplace. Therefore, convenience of the consumer is at the top of mind of the marketers as they are focusing on developing packaging that’s easier to open, to protect against breakage, maintain freshness during delivery and keep a consistent look and feel across multiple channels. Identify the type of plan being described in the above lines.

Strategy

The correct answer is option 3 i.e. Strategy.

The description in the passage reflects a strategic decision. Marketers are focusing on developing packaging that addresses various aspects like ease of opening, protection against breakage, maintaining freshness, and ensuring a consistent look and feel across multiple channels. This indicates a strategic plan to enhance the packaging for better product positioning and consumer satisfaction. Therefore, the type of plan being described is a strategy.

A strategy provides the broad contours of an organisation’s business. It will also refer to future decisions defining the organisations direction and scope in the long run. Thus, we can say a strategy is a comprehensive plan for accomplishing an organisation objectives. This comprehensive plan will include three dimensions-
(i) determining long term objectives,
(ii) adopting a particular course of action, and
(iii) allocating resources necessary to achieve the objective.
Whenever a strategy is formulated, the business environment needs to be taken into consideration. The changes in the economic, political, social, legal and technological environment will affect an organisation’s strategy. Strategies usually take the course of forming the organisation’s identity in the business environment. Major strategic decisions will include decisions like whether the organisation will continue to be in the same line of business, or combine new lines of activity with the existing business or seek to acquire a dominant position in the same market.