how can companies use packaging, labelling, warranties and guarantees as market tools
TRANSCRIPT
Chapter 11: Setting product strategy
How can companies use packaging, labelling, warranties and guarantees as market tools?
By: Kartik SinglaIndian Institute of Technology(BHU), Varanasi
Packaging
Known as the 5th ‘P’ of marketing mix. It includes all the activities of designing and producing the container for a product.
They can act as “five-second advertisements” and attract customer
attention during self-service purchases.
Packaging as a marketing tool
Appearance, convenience, dependability and prestige of
better packaging can convince the customer to pay more!!
Package appearance contribute to instant recognition of the
company or the brand.
Packaging
objectives
Aid product consum-
ption
Convey product
descripti-on
Assist home
storage
Identify the
brand
Colour and structural design of the package play a key role in visual marketing of a product.
“Beware!!! Some package design upgrades can lead to downfall of sales
too!!!!”
Labelling
Label is a simply attached tag or an elaborately deigned graphic that is a part of the package.
A label can:Help to identify the brand
Grade the product
Describe the product (who made it, when and where and how to use it?)
Promote the product through advanced graphics.
Warranties and Guarantees
is a formal statement of expected product performance by the
manufacturer.
Guarantee is an assurance that the product is of high quality and dependability.
Extended warranties and specific guarantees can increase customer confidence and reliability on the product!!!