Product Packaging- Improving the Brand Image of a Product
Posted in Marketing & Strategy Articles, Total Reads: 423
, Published on 12 July 2016
Developing brands encompasses the significance of packaging not just in keeping their products untouched, crisp, and ensured, but also as a crucial part of their marketing and advertising endeavours. The product’s packaging is the mark you leave on customers’ mind, and it can draw in new age customers’ attention very powerfully than any obsolete deal or marketing strategy.
Marketers are acquainted with the expression "Marketing Mix," term first coined by Neil Borden, president of the American Marketing Association. In spite of the fact that the term was produced back in the mid-twentieth century, its ideas are still applicable and generally utilized by organizations today. This term incorporates four key components: Product, Price, Promotion, and Place. Presently, packaging has turned into an important part of this mix, because of rapid movement of the market towards flexible retail packaging and the energy it needs to develop brands and gain loyal consumers.
Surveys organized by Fix-a-Form international, headquartered in the United Kingdom, demonstrate that most purchasing decisions are made in store and one of the important reasons that impacts these decisions is the appeal and look of a product and in this way its packaging.
Flexible retail packaging is achieved by moulding, crafting creative materials like cardboard, aluminium, fibre and paper that are overlaid, printed, and covered to keep up a sturdy structure and clear slate for innovative prints and designs. Today's top brands consider packaging as a visually appealing trap that can draw in customers right inside retail locations as they're settling on their purchase decisions. Organizations are working collaboratively with packaging suppliers to choose the perfect size, shape, outline, finishing, and flexible retail packaging so that it can create the appeal of their product and connect to their target market.
Packaging ought to be considered as a different yet contemplating component of the marketing mix inferable from its ability to improve the adequacy of the various components in the mix:
Product: This factor covers various aspects like what are the consumer expectations from product in terms of features, appearance, type of branding, size of the product, colour of the product, etc. Packaging gives a correspondence stage or promoting land to converse with your customer concerning why your item is predominant, its inborn advantages and how it is different from other products in the pool.
Price: Price considers the factors like the value of the product as perceived by the buyer, customer price sensitivity, discounts/ rebates on the product, etc. Packaging permits you to make a discernment about your product’s worth and can act as a premise to change the price. Packaging development or add-ons can likewise increase the apparent estimated value of your product through perception.
Place: Marketing mix has an important aspect in terms of Place which deals with where any customer looks for a particular product or service, what are the correct distribution channels, requirement of sales force or not, etc. Through evolution in the market, the potential outcomes of place can be changed. The introduction of sachet configurations and smaller than normal forms of product has permitted certain items to rise above places, for example, store walkways to new places, for example, stands, counters, kiosks or close to the payment points, for example, tills.
Promotion: How to make your messages reach the end customers, the effective channels to spread such messages, best time to promote the messages and similar questions fall under the scope of Promotion. Packaging is obviously a very necessary medium to communicate one’s promotions, in a space that matters the most - in store. Whilst over-the-line marketing helps in creating awareness about promotions and fetch customers to the store, packaging is the ultimate pinion that converts awareness into sales. As per one of the research findings, 67% of purchasing choices are made in store and one of the drivers (as referred to by Fix-a-Form Global) for those choices is on-pack promotion. Including an on-pack device guarantees that your item emerges in the psyches of your shoppers in such cluttered retail environment and is an ensured and perfect approach to build sales.
Here are the reasons why 4Ps should be extended to include Packaging -
1. Packaging Helps in Catching Eye of the Customer
For instance, if we are in a hypermarket and see a pack of Dabur’s Yoodley or for that matter BBlunt shampoo and conditioner, it is very obvious to get fixated to their innovative packaging. Just by looking at the bottle’s design one can definitely frame the idea that the product will be of superior quality. This is the power of Packaging which the companies are using to get the attention of their customers.
How frequently do you stroll down the passageway at a market and does an item get your attention? Packaging that is well done regardless of how old it is will definitely catch one’s eye and make things noticeable.
2. Packaging Creates Special Customer Experiences
Apple's packaging idea gets a great deal of notice which has helped them to grow as one of the most successful brands of the world. They focus on the idea that customers need to feel a specific way when unpacking Apple products. YouTube is filled with videos where individuals/experts have shared the unboxing experience of their Apple products. That sounds absurd but yes, packaging can do that. It not only sounds beautiful, but also emotional.
One needs to realize that people need to feel something special or unique when they use the purchased item or any particular service which apparently indicates that they additionally need to feel something about the packaging that those items sit in.
3. Packaging Can Justify Price
One must always consider the fact that Packaging being a very important aspect needs to be designed and developed in a way that it increases the perceived value of the product and service. An interesting reason behind Apple paying utmost attention towards packaging of its products is to help in justifying why the price of their products are always higher than their competitors for the same product.
Packaging is the most recent territory that is seeing a pile of patent filings by Indian corporate companies. As rack spaces get swarmed, organizations are surging in with creative and out of box packaging designs across market. And progressively, organizations are currently documenting patent registrations to ensure advancements around materials, packaging development and components, innovation and technology.
Packaging ought to be incorporated in Marketing Mix as a key component, working in synchronization with the other P's, to further improve brand’s image.
This article has been authored by Ruchi Tallewar from IIM Raipur