How Packaging Helps You Achieve the 5 Ps of Marketing
If you think of packaging as something that simply gets your products from one place to another, you may need to change your mindset. Packaging can do so much more for your business with the right approach!
In fact, packaging can help you achieve the 5 Ps of marketing, including product, price, promotion, place, and people. Here’s what you need to know about the 5 Ps and how you can achieve them through packaging.
What Are the 5 Ps of Marketing?
The concept of the 5 Ps of marketing isn’t anything new, in fact, it’s been around for more than 40 years! However, we understand that you may have never heard of this concept which is why we are going to give you a quick overview of the 5 Ps of marketing before we dive into how this relates to packaging.
1. Product
The first P of marketing is the product. This refers to the goods and services being offered by a company. There are tons of decisions that go into making a product, including function, appearance, quality, and warranty—just to name a few.
In order for a product to be successful, it needs to meet the needs and expectations of consumers. It also must provide certain benefits to consumers that drive them to purchase the product.
2. Price
The second P of marketing is the price. This refers to the pricing strategy for the goods and services being offered by the company. The pricing strategy needs to work for both the company and the consumers.
The company needs to make sure that they’re actually earning a profit by selling the product rather than losing money. They also need to make sure that consumers will actually buy the product at that price point.
Generally speaking, pricing should be based on the principles of supply and demand. This means that if there’s a ton of supply and low demand, prices will go down. On the other hand, if there’s a limited supply and high demand, prices will go up. Companies need to monitor supply and demand and adjust their prices accordingly.
3. Promotion
The third P of marketing is promotion. This refers to promoting the product and getting the word out to consumers. After all, consumers can’t purchase a product they don’t know about!
Furthermore, consumers are unlikely to purchase from a brand that they’re unfamiliar with, so not only do companies have to promote specific products, they also have to promote the brand more generally.
The best way to do this is through advertising. These days, digital advertising reigns supreme and can be done through social media, search engines, email, and more. Using an omnichannel approach to marketing by incorporating these different channels is a smart strategy.
4. Place
The fourth P of marketing is place. This refers to where a product or service is seen, made, sold, or distributed. For instance, some products or services are offered exclusively online, whereas others can be found on the shelves of a brick-and-mortar retail store. The best placement strategy for your brand will depend on your industry, market, and specific product.
You also need to think about the placement of your advertising. Again, think about where your customers are and where they’re spending time—then go there with your promotional content! For instance, marketing to Millennials would require you to advertise in different places than if you were marketing to Baby Boomers.
5. People
The fifth and final P of marketing is people. This refers to the people involved in your business who are interacting with consumers. Your goal should be to hire and train people to provide the best possible customer service. When you let your people do the talking, you can win people over more than paid advertising can.
How Does Packaging Help You Achieve the 5 Ps of Marketing?
Now, let’s turn our attention to packaging and discuss how packaging can help you achieve these 5 Ps.
1. Product
One of the main purposes of packaging is to protect the product. As a result, you should be choosing your packaging based on the product in question. If it’s a detailed and interactive product, you may want to consider using clear plastic packaging to show it off. On the other hand, if it’s an exclusive or mysterious product, you may want to consider using a cardboard box.
The right type of box for your packaging will depend on the product’s size, weight, and fragility. If the product is particularly heavy or fragile, you’re going to need a thicker type of cardboard, like corrugated cardboard, to provide the insulation and protection the product needs. On the other hand, if the product is lightweight and not fragile, you may want to consider using a paperboard or chipboard that’s lighter and thinner.
2. Price
Believe it or not, but your packaging also communicates the price of a product. High-quality packaging indicates a high-quality product that’s worth paying more for. On the other hand, low-quality packaging indicates a low-quality product that shouldn’t be too expensive.
If you’re looking for a high-quality packaging option, you may want to consider rigid boxes. These boxes cannot be folded or collapsed like other cardboard boxes. As a result, they give off more of a high-end feel and are often used by expensive electronic and jewelry brands to justify their prices.
3. Promotion
Your packaging should also be promotional. If your packaging is just a plain cardboard box—you’re doing it wrong! Instead, your packaging should promote your product by featuring relevant images, information, and guarantees related to the product. Your packaging should also promote your brand by featuring relevant colors, logos, fonts, etc.
The best way to do this is with custom packaging. Companies like Box Genie offer customized packaging solutions that allow you to design your own boxes with branded logos, colors, fonts, images, and more.
4. Place
Your packaging also helps you establish a place in the market. It can be difficult to compete on shelves filled with similar products. So if you’re looking to stand out and earn a place in a crowded market, you can achieve this through packaging.
To earn your place, make sure to include relevant information on your packaging, including product details, functions, and benefits. You should also include components, ingredients, expiration dates, and manufacturers.
5. People
The last thing you need to include on your packaging is your contact information to cover the last P of marketing—people. It should be easy for consumers to contact you if they have any questions about the product. From there, they should receive top-notch customer service that helps promote and grow your brand.
Final Thoughts on Packaging and Marketing
With the right approach to packaging, you can achieve the 5 Ps of marketing for your business. If you need help nailing down your packaging approach, feel free to reach out to the packaging experts at Box Genie. We can help you come up with the best packaging solutions and designs that are tailored to your brand, products, and customers.
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