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5 Things Every Business Needs To Know About Packaging |
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When you are getting started it's so hard to understand the integral role packaging has to play in marketing and selling your product. Put simply, it's one of the most important product decisions you will have to make. They key is to know which packaging factors will influence your product's success --or failure
Here are 5 vital things you need to know as you start on your journey that packages your product to sell.
1. You can't have a product without a package.
It's interesting how packaging is evolving. In many cases, there would be no product without the package. Take something as simple as toothpaste. Whether it's in a tube or in a pump the package plays an integral role in making this product work. It is so ordinary that many people never stop to consider this fact: Where would toothpaste be without a package?
So ask yourself these questions: Is your invention going to need a package that is part of the actual product? Or will the packaging be more of a protective device to convey the product?
Whatever the answer might be, it's time to start thinking about how the packaging is going to impact both shipping and merchandising.
2. The package could cost more than what is inside.
The rule of thumb is that the package should be 8-10% of the total cost on average. 10% of every dollar spent at retail is directly attributable to packaging. But that cost can vary dramatically with the product being packaged. The proportion of cost is lower with high ticket items and higher with commodity items as well as products in which the packaging is a bigger component than the product itself.
So think about not only the primary package (the one that is going to be seen at retail) but any other packaging materials that you will require to transport, ship or convey your product to its ultimate destination unbroken, not damaged, not tampered with and arriving in pristine condition.
3. Your package has to sell the product not just protect it.
The average consumer spends just 2.6 seconds making a decision whether to pick up your product or not. So your packaging better be on target to the right audience with the right message. Just stroll through any retail that merchandises similar products to yours. Overwhelmed by the competition? You Bet!
And that's just the beginning. Who is going to buy your product? Do you know? Are you aware of what language, colors, design and packaging materials that appeals to your target demographic? This can make or break whether your product sells or not. Ask yourself who do I want to buy my product and what packaging attributes will appeal to them?
4. Most packaging materials suppliers require large quantity orders.
It's hard to find a supplier for small quantities. The dilemna is that you don't have large orders when getting started. The number one question we’re asked is how to find a vendor for small quantities. In many cases, this can be a challenge but it is not impossible.
5. Packaging trends and innovations can influence whether your product will ever get onto the stores shelf.
There are external factors that can dramatically change what the consumer wants or demands in their product packaging. What do you know about RFID(radio frequency i.d.tags), product integrity and product security, bioresins and bio plastics, environmental sustainability, smart or intelligent packaging? If you are like most inventors the answer is not much. But these packaging concerns are the wave of the future. Chances are one or more of these factors will be discussed when your try to get a buyer to commit to carrying your product.
Many requirements are mandated but big box retailers such as Wal-Mart and Home Depot drive smaller retailers in the same direction.
The time to address these issues is at the point when you prepare your product for market not at the end when many times it's too late. |
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