Which of the following critical elements of a product mix serves the dual purpose of physically protecting the product while also acting as a promotional medium to communicate brand identity?

Given below are two statements: one is labelled as Assertion (A) and the other is labelled as Reason (R). Assertion (A): Brand equity enables firms to charge premium prices and build long-term customer loyalty. Reason (R): Brand equity is developed only through extensive advertising expenditure by the firm. In the light of the above statements, choose the most appropriate answer from the options given below:

If a chipmaker offers PC manufacturers a 2.5% discount for settling their bill within 7 days instead of the standard 30 days, the chipmaker is providing a: