Role of Packaging in the 4Ps Marketing Strategy for Your Product

The 4Ps of Marketing or the Marketing Mix comprises of Product, Place, Promotion and Price. These are the elements that set your product apart from the rest and help you lure in potential buyers. However, there’s a fifth P added to the mix—which is perhaps the most important of them all, for it has great impacts on the other four.

The importance of the packaging of your product can’t be overstated; it makes for the first impression of your product and services along with representing your brand and its values.

So, it wouldn’t be wrong to say that your product’s packaging is actually a secret weapon when it comes to your marketing strategy.

Price:

In a capitalist world, Price is perhaps the most important component of the 4Ps. It’s simple math; the more affordable your product is, the more buyers it will attract. However, the pricing of your product is closely linked to its cost.

Higher costs result in even higher selling prices. Therefore, you must always aim at cost reduction, which can be done in a number of ways, but primarily through affordable packaging. Inexpensive packaging can help make your products appear economical without reducing your profit margin.

Product:

The packaging of your product introduces your product to potential buyers. It represents your values and brand mission along with what lies within it. For instance, recent research showed that more than half of the global purchasing population would cough up money for brands and products that support sustainability.

The packaging of your product plays a huge role in establishing you as an environmentally-conscious brand. So, it’s recommended that you go for eco-friendly packaging and storage supplies, such as PET plastic bottles, which are 100% recyclable and FDA-approved.

Promotion:

Believe it or not, your product’s packaging is a mini-billboard. It details all the product specifications as well as its usage. It’s the marketing tool that can do wonders, but is not used to its full potential. In fact, for some products, like medical marijuana, it can be the only promotional or marketing outlet as it’s banned or strictly monitored on other platforms, like social media.

Place:

Here the impact of packaging is two-fold: where is your product sold and to whom? While the former deals with the conditions of your product’s placement and shipment; the latter is concerned with the demographic.

Smart and product-specific packaging not only ensures the shelf-life and potency of your product (no matter where it’s shipped to and sold), but also helps adhere to the legislation of the state it will be sold and purchased in.

For example, when it comes to drugs like marijuana, it’s compulsory that as a supplier you label the drug according to the state proportions regulations in which you’re operating. This not only verifies the legality of your product but also saves you and your potential clients from lawsuits in the future.

The importance of your packaging can’t be denied. Therefore, it’s smart to get in touch with a supplier that can hook you up with a variety of packaging options for your product.

PremiumVials is an online wholesaler that provides affordable packaging solutions for food, medical and chemical industries; with their collection ranging from push-and-turn cannabis jars to child-resistant barrier bags; along with medical strain labels for medical marijuana. Register now and use the secret weapon of packaging smarts to reap sales rewards!