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©2009 Liljeqvist & Wargo.
All rights reserved.
While it may be hard to see through the gloomy economic headlines, we've actually entered a potential gold mine for product managers and business owners. While competitors are paralyzed in fear, you get a marketing free-throw... a virtually unopposed chance to be the one "new" product, capture consumers' attention, raise your value, and stimulate your brand!
Now more than ever, product packaging is your most powerful marketing tool. With budget-conscious comparison shoppers facing the shelf, your advertising is out of range, your brand is up for review, and even the product itself takes a back seat to finding the best bang for the buck. In a matter of seconds, your product is spot judged on quality, performance, price and comparative value. Shoppers accustomed to a particular brands are suddenly far more willing to comparison shop. Approximately 70% of purchase decisions are made at the point of sale, so the battle for turning browsers into buyers usually takes place on the shelf. This is the perfect environment to use strategic package and merchandising design to put compelling marketing messages where it matters most and seize market share.
Smart package design can do more than influence purchase decisions– it can help raise your margins. WHAT? Raise margins?!? Absolutely. Even with consumers struggling, the lowest price doesn't always win. The key is delivering a perception of value. While your competitors desperately cut prices, you can use applied design to cut costs with more efficient packaging, alternative materials, merchandising displays and even simple shipping or manufacturing changes. You might hold the price steady, but change your packaging structure to perform a useful function or raise the appearance of quality. Voila: the same product, the same price, but now with enhanced value, which makes it a better deal. If the new package structure is also more economical to manufacture or ship, then you could save money even as you increase sales. Talk about a stimulus!
