Social

Packaging: A New Member To The 4P Club

Every marketer is aware of the marketing mix. Since, its inception in the mid 20th century, it is still being used in all arrays of business and corporate houses. The marketing mix, also known as 4Ps, included Price, Product, Promotion, and Place. Recently the club has been joined by a new member, “Packaging”. The marketers are realizing the power of packaging and consider it as the ultimate tool in the marketing mix. Let’s understand how this new member and the older ones gel together:

Price: 

Marketers’ strategies revolve around the pricing of the product. A product too highly priced of its value is very likely to be dejected by the customers. This is where packaging comes into play. A product which is nicely packed with labels and information about the product is now the desired product. The package can be labeled with information like what the product is, how it was made, and where it was made. There could be creative graphics and designs on the package. All these augmentations to the product are only possible when it is packed. A customer would be more engaged if the product package design is attractive. Also, the package needs to be fit-form. Now obviously, a product which is nicely packed and decorated can be sold for a little higher price for higher profits.

Product:

 The most important part of the marketing mix is the product. If there’s no product, there’s no point of any other element or even marketing for that matter. A product could be anything tangible or intangible that could be sold in exchange for money. Physical products are susceptible to damage. Packaging is all the more important when it comes to preserving the product. A product needs to be protected against weather, physical damages, or any other damages that can happen to it, while storage or during transportation. 
Tell Everyone, Share NewsPatti App
Especially, when considering food products, the packaging is all the more important. The food needs to be preserved afresh until consumed. There are many other products where conservation and preservation of the product, safeguarding it from harm, and protection are necessary. Moreover, packaging adds a visual appeal to the product and engages more audience. These engagements are more likely to convert into sales. The contents of the package can be perceived by the package. It communicates the quality and emotions linked to the product.

Promotion: 

After the product has taken its physical form, the foremost step is to promote it in the market. A product needs to be within the audience to be purchased by them. Conventional promotion strategies like advertisements, hoardings, and cold calling are still effective, but not up to the mark. The consumers are more likely to buy what they see. By big corporates and giants, the packaging is considered as the miniature form of print advertisement. A customer who buys a product will always be reminded of it whenever they look at the package.

Also read: How To Promote B2B With The Help Of Internet Marketing

It is way easier to develop a relationship with the customer this way. The product and the consumer go hand in hand. There’s an emotional connection that consumer builds with a product or a brand. This image of a brand and the connected emotions will always be revived in the consumer’s mind whenever they come across it. The traditional and modern marketing strategies walk together when it comes to the promotion of the product. Product-flexible packaging designs can connect to the consumers with all the information and designs printed and labeled over it.

Place: 

At the very end of the marketing mix comes the place in the play. A product is designed keeping in mind the place where it is to be consumed. This does not necessarily mean that the product is made in the same place. From the manufacturing site to the consumption site, the product needs transportation. There are environmental factors at play. And there are differences in the perceptions from place to place. The packaging has again excelled with product placement. A package is designed to withstand the environmental changes and protect the product accordingly. Also, it has to be appealing in form and factor to the target audience. 
Different color combinations and designs for packaging are tried before the product is actually packed. A common example could be the packaging of medicines. The package protects the medicine from environmental contamination and at the same time is colorful in order to be appealing to the customer.

Now that we know how packaging has affected all the other elements of the marketing mix, it is pretty obvious how this new element has gained a position in the marketing mix. Marketers have already considered it as the fifth P in the marketing mix due to its huge potential in marketing.

| About the Guest Author:

Guest Author

Rohani Egbert

Leave a Reply