This week, we will continue our 12 Ps Marketing series blogs by discussing Packaging.
What is packaging?
Packaging refers to how you will present your product or service to your target market.
When customers view your product or service at the point of sale, they will see it in its packaging. As a subset of marketing branding, packaging is a communication tool that not only should appeal to your customers, but convey the price, highlight your product features, help your consumers understand the value of your product, and promote it. As a result, it is crucial to take into account the packaging's design, messaging, and other factors.
A crucial component of your marketing mix, packaging is the primary representation of your product. Since it is the first thing people will see, it can instantly grab or divert customers’ attention in a matter of seconds.
Marketing decisions made about packaging
In an overcrowded and competitive market, a company's packaging will need to attract potential or new customers and help to maintain consumer loyalty. Packaging will differentiate your products from those of your competitors, include useful information, and add additional value to your product to make it work harder for you.
Questions usually asked when making the decisions are:
What is your product or service?
What is the product differentiator, i.e. the quality that sets your product apart from the competition?
Who are your competitors and what product or service do they offer?
Who is the target audience?
How do your target audience or existing customers buy your product?
What is the brand colour and product portfolio?
Will the packing process of the product be automatic or manual? What is the cost-benefit analysis of each process?
What are your product’s essential features and what are the materials needed?
How will your package design look, why does the design matter and what does it signify?
In summary, packaging is all about judging a book by its cover and more. Packaging will not only differentiate your product among similar ones from your competitors, include useful information, add additional value to make your product work harder for you, but it will also help you engage with your customers by prompting strong reactions, standing out, and being remembered.
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