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Casual Articles - 5 Things Every Business Needs To Know About Packaging
A manufacturing company with 120 staff historically bought their company vehicles from the local dealer who offered excellent service, choice and most importantly a large discount. The quantity of cars required at this stage was six and two vans, which they purchased from ex-demonstration stock.The company was experiencing a surge in production and as a result they had to manage cash flow tightly as expenditure on meeting the production deadlines was going out long before the products were being paid for. As a result the financial team looked at the accounts and decided to look at cost cutting across the business to sustain the cash until they got paid.One area that seemed to stand out as an obvious cut was company cars. The current cars were bought outright an
5. Packaging trends and innovations can influence whether your product will ever get onto the stores shelf.
In January of every year, I write a trends piece about where I believe the packaging industry is going for the year. This covers not only the hottest packaging trends and innovations but outside influences that can drive the retail industry. Many influences can be outside of your control. The secret is in knowing what is going to be the "issue" of the future or what might be mandated as a "must have" in your product packaging.
There are external factors that can dramatically change what the consumer wants or demands in their product packaging. What do you know about RFID, product integrity and product security, bioresins and bio plastics, environmental sustainability, smart or intelligent packaging? If you are like most inventors the answer is not much. But these packaging concerns are the wave of the future. Chances are one or more of these factors will be discussed when your try t
Over the past 19 years, I have worked with thousands of business owners in Africa, Canada and the United States. I foresee serious financial adversity looming for many entrepreneurs in the coming years, and perhaps a lot sooner than we may think. And before you conclude that this is mere speculation, let me share some reasons for my concern, and then allow me to offer you a solution.On a macro level, we all know that the dollar’s purchasing power has declined. The “world’s reserve currency” is in trouble. America slips further into debt. Since the end of the gold standard in 1971, this has escalated. With cheap labor increasingly available in India and China and a huge influx of new immigrants into the US and Canada, with the Canadian economy heavily dependant on the US,
Here are 5 vital things you need to know as you start on your journey that packages your product to sell.
1. You can't have a product without a package.
Just think about potato chips and eggs for example. How could you sell them unbroken and undamaged without a package? You have to be able to transport a product from point A to point B. The package is what makes it happen. Even if your product is not fragile, it can't get into the buyers hands in a shop worn condition. Consumers will NEVER buy it.
It’s interesting how packaging is evolving. In many cases, there would be no product without the package. Take something as simple as toothpaste. Whether it's in a tube or in a pump the package plays an integral role in making this product work. It is so ordinary that many people never stop to consider this fact: Where would toothpaste be without a package?
So ask yourself these questions: Is your invention going to need a package that is part of the actual product? Or will the packaging be more of a protective device to convey the product?
Whatever the answer might be, it's time to start thinking about how the packaging is going to impact both shipping and merchandising.
2. The package could cost more than what is inside.
The rule of thumb is that the package should be 8-10% of the total cost on average. 10% of every dollar spent at retail is directly attributable to packaging. But that cost can vary dramatically with the product being packaged. The proportion of cost is lower with high ticket items and higher with commodity items as well as products in which the packaging is a bigger component than the product itself.
Let’s talk potato chips again. Packaging is a much higher cost in an item like this. You have a few chips and a bag but don't forget that besides the bag there is a master shipping carton that contains the bags of chips. This is one of the hidden costs that many people overlook.
So think about not only the primary package (the one that is going to be seen at retail) but any other packaging materials that you will require to transport, ship or convey your product to its ultimate destination unbroken, not damaged, not tampered with and arriving in pristine condition.
3. Your package has to sell the product not just protect it.
The average consumer spends just 2.6 second making a decision whether to pick up your product or not. So your packaging better be on target to the right audience with the right message. Just stroll through any retail that merchandises similar products to yours. Overwhelmed by the competition? You Bet!
And that's just the beginning. Who is going to buy your product? Do you know? Are you aware of what language, colors, design and packaging materials that appeals to your target demographic? This can make or break whether your product sells or not. Ask yourself who do I want to buy my product and what packaging attributes will appeal to them?
4. Most packaging materials suppliers require large quantity orders.
It’s hard to find a supplier for small quantities. The double edged sword is that you don’t have large orders when getting started. The number one question I am asked is how to find a vendor for small quantities. In many cases, this can be a challenge but it is not impossible.
I know you have this exotic design concept on your head that's just going to WOW them at retail. The reality is that in many cases you will have to start with stock packaging items that you can customize. As you get more orders or are able to order in larger quantities you can upgrade your packaging designs.
Don’t be discouraged. The stock design world has come a long way with innovative designs and materials. With a little innovation and creativity, you can have that prestige look on a start up pocketbook.
5. Packaging trends and innovations can influence whether your product will ever get onto the stores shelf.
In January of every year, I write a trends piece about where I believe the packaging industry is going for the year. This covers not only the hottest packaging trends and innovations but outside influences that can drive the retail industry. Many influences can be outside of your control. The secret is in knowing what is going to be the "issue" of the future or what might be mandated as a "must have" in your product packaging.
There are external factors that can dramatically change what the consumer wants or demands in their product packaging. What do you know about RFID, product integrity and product security, bioresins and bio plastics, environmental sustainability, smart or intelligent packaging? If you are like most inventors the answer is not much. But these packaging concerns are the wave of the future. Chances are one or more of these factors will be discussed when your try to
Have you ever wondered why there are still companies that use cold calls to acquire new business even though most people hang up sooner or later on most cold calls?It's the so-called 'numbers game' which goes approximately like this:- You call 100 people.- Five to 10 people listen to you for a while for whatever reason (because they're polite, or feel sorry for the cold caller or ...)- Two to three people are at the moment searching exactly for the kind of product or service offered in the cold call.- One of them eventually buys.So you just need to make hundreds or thousands of calls and you will eventually get the business you wanted.Unfortunately, this business development approach has a number of considerable disadvantages:packaging is evolving. In many cases, there would be no product without the package. Take something as simple as toothpaste. Whether it's in a tube or in a pump the package plays an integral role in making this product work. It is so ordinary that many people never stop to consider this fact: Where would toothpaste be without a package?
So ask yourself these questions: Is your invention going to need a package that is part of the actual product? Or will the packaging be more of a protective device to convey the product?
Whatever the answer might be, it's time to start thinking about how the packaging is going to impact both shipping and merchandising.
2. The package could cost more than what is inside.
The rule of thumb is that the package should be 8-10% of the total cost on average. 10% of every dollar spent at retail is directly attributable to packaging. But that cost can vary dramatically with the product being packaged. The proportion of cost is lower with high ticket items and higher with commodity items as well as products in which the packaging is a bigger component than the product itself.
Let’s talk potato chips again. Packaging is a much higher cost in an item like this. You have a few chips and a bag but don't forget that besides the bag there is a master shipping carton that contains the bags of chips. This is one of the hidden costs that many people overlook.
So think about not only the primary package (the one that is going to be seen at retail) but any other packaging materials that you will require to transport, ship or convey your product to its ultimate destination unbroken, not damaged, not tampered with and arriving in pristine condition.
3. Your package has to sell the product not just protect it.
The average consumer spends just 2.6 second making a decision whether to pick up your product or not. So your packaging better be on target to the right audience with the right message. Just stroll through any retail that merchandises similar products to yours. Overwhelmed by the competition? You Bet!
And that's just the beginning. Who is going to buy your product? Do you know? Are you aware of what language, colors, design and packaging materials that appeals to your target demographic? This can make or break whether your product sells or not. Ask yourself who do I want to buy my product and what packaging attributes will appeal to them?
4. Most packaging materials suppliers require large quantity orders.
It’s hard to find a supplier for small quantities. The double edged sword is that you don’t have large orders when getting started. The number one question I am asked is how to find a vendor for small quantities. In many cases, this can be a challenge but it is not impossible.
I know you have this exotic design concept on your head that's just going to WOW them at retail. The reality is that in many cases you will have to start with stock packaging items that you can customize. As you get more orders or are able to order in larger quantities you can upgrade your packaging designs.
Don’t be discouraged. The stock design world has come a long way with innovative designs and materials. With a little innovation and creativity, you can have that prestige look on a start up pocketbook.
5. Packaging trends and innovations can influence whether your product will ever get onto the stores shelf.
In January of every year, I write a trends piece about where I believe the packaging industry is going for the year. This covers not only the hottest packaging trends and innovations but outside influences that can drive the retail industry. Many influences can be outside of your control. The secret is in knowing what is going to be the "issue" of the future or what might be mandated as a "must have" in your product packaging.
There are external factors that can dramatically change what the consumer wants or demands in their product packaging. What do you know about RFID, product integrity and product security, bioresins and bio plastics, environmental sustainability, smart or intelligent packaging? If you are like most inventors the answer is not much. But these packaging concerns are the wave of the future. Chances are one or more of these factors will be discussed when your try t
Let’s face it; leads are the lifeblood of any business. Without them, any business struggles and will eventually withers away. For this reason, it’s vitally important that your business have a system in place for capturing leads on a consistent basis.Now, there are many ways to go about acquiring leads and millions upon millions of dollars are spent annually in the hopes of doing just that. Unfortunately, many of those millions of dollars are being wasted on inefficient and ineffective lead generation methods.As a small business, every resource is valuable. This means you don’t have the luxury of wasting even a single dollar on ineffective methods of generating qualified leads. So how do you go about determining what’s effective and what’s a waste?Here
Let’s talk potato chips again. Packaging is a much higher cost in an item like this. You have a few chips and a bag but don't forget that besides the bag there is a master shipping carton that contains the bags of chips. This is one of the hidden costs that many people overlook.
So think about not only the primary package (the one that is going to be seen at retail) but any other packaging materials that you will require to transport, ship or convey your product to its ultimate destination unbroken, not damaged, not tampered with and arriving in pristine condition.
3. Your package has to sell the product not just protect it.
The average consumer spends just 2.6 second making a decision whether to pick up your product or not. So your packaging better be on target to the right audience with the right message. Just stroll through any retail that merchandises similar products to yours. Overwhelmed by the competition? You Bet!
And that's just the beginning. Who is going to buy your product? Do you know? Are you aware of what language, colors, design and packaging materials that appeals to your target demographic? This can make or break whether your product sells or not. Ask yourself who do I want to buy my product and what packaging attributes will appeal to them?
4. Most packaging materials suppliers require large quantity orders.
It’s hard to find a supplier for small quantities. The double edged sword is that you don’t have large orders when getting started. The number one question I am asked is how to find a vendor for small quantities. In many cases, this can be a challenge but it is not impossible.
I know you have this exotic design concept on your head that's just going to WOW them at retail. The reality is that in many cases you will have to start with stock packaging items that you can customize. As you get more orders or are able to order in larger quantities you can upgrade your packaging designs.
Don’t be discouraged. The stock design world has come a long way with innovative designs and materials. With a little innovation and creativity, you can have that prestige look on a start up pocketbook.
5. Packaging trends and innovations can influence whether your product will ever get onto the stores shelf.
In January of every year, I write a trends piece about where I believe the packaging industry is going for the year. This covers not only the hottest packaging trends and innovations but outside influences that can drive the retail industry. Many influences can be outside of your control. The secret is in knowing what is going to be the "issue" of the future or what might be mandated as a "must have" in your product packaging.
There are external factors that can dramatically change what the consumer wants or demands in their product packaging. What do you know about RFID, product integrity and product security, bioresins and bio plastics, environmental sustainability, smart or intelligent packaging? If you are like most inventors the answer is not much. But these packaging concerns are the wave of the future. Chances are one or more of these factors will be discussed when your try t
Who would expect that watching a fifty year celebration for Larry King would get me thinking about the attributes of great coaches, sales professionals, clients, consultants, you name it. The other night while watching Larry being interviewed by Katie Couric, Katie asked Larry what makes a great guest. His response got me thinking. Larry said they have PASSION; they are able to clearly ARTICULATE what they do; they have a CHIP ON THEIR SHOULDER and they have a SENSE OF HUMOUR.Larry named a few examples, such as Frank Sinatra, who had all four attributes, and Jimmy Hoffa, who by the way lacked a sense of humour. Go figure! I started to think about all his guests and who was the most engaging of them. True enough. They were all passionate about something, clear and
4. Most packaging materials suppliers require large quantity orders.
It’s hard to find a supplier for small quantities. The double edged sword is that you don’t have large orders when getting started. The number one question I am asked is how to find a vendor for small quantities. In many cases, this can be a challenge but it is not impossible.
I know you have this exotic design concept on your head that's just going to WOW them at retail. The reality is that in many cases you will have to start with stock packaging items that you can customize. As you get more orders or are able to order in larger quantities you can upgrade your packaging designs.
Don’t be discouraged. The stock design world has come a long way with innovative designs and materials. With a little innovation and creativity, you can have that prestige look on a start up pocketbook.
5. Packaging trends and innovations can influence whether your product will ever get onto the stores shelf.
In January of every year, I write a trends piece about where I believe the packaging industry is going for the year. This covers not only the hottest packaging trends and innovations but outside influences that can drive the retail industry. Many influences can be outside of your control. The secret is in knowing what is going to be the "issue" of the future or what might be mandated as a "must have" in your product packaging.
There are external factors that can dramatically change what the consumer wants or demands in their product packaging. What do you know about RFID, product integrity and product security, bioresins and bio plastics, environmental sustainability, smart or intelligent packaging? If you are like most inventors the answer is not much. But these packaging concerns are the wave of the future. Chances are one or more of these factors will be discussed when your try t
In order to get the most value out of interactive web conferencing sessions try the following simple steps in order to keep it affordable.1. To save money, save time. A well-planned conference with an agenda is the conference that doesn't use up a lot of time answering questions over what is going to be covered or what has already been discussed. If someone joins in late and it will take more then a few minutes to catch them up to speed, either send them the notes of the meeting later, or hold a separate phone call with them at a later date.2. Minimize unnecessary services. If recording the conference isn't all that necessary, don't bother signing up for a service that offers the option to record it. While, recording a session is a useful tool, it certainly isn
5. Packaging trends and innovations can influence whether your product will ever get onto the stores shelf.
In January of every year, I write a trends piece about where I believe the packaging industry is going for the year. This covers not only the hottest packaging trends and innovations but outside influences that can drive the retail industry. Many influences can be outside of your control. The secret is in knowing what is going to be the "issue" of the future or what might be mandated as a "must have" in your product packaging.
There are external factors that can dramatically change what the consumer wants or demands in their product packaging. What do you know about RFID, product integrity and product security, bioresins and bio plastics, environmental sustainability, smart or intelligent packaging? If you are like most inventors the answer is not much. But these packaging concerns are the wave of the future. Chances are one or more of these factors will be discussed when your try to get a buyer to commit to carrying your product.
Many requirements mandated but big box retailers such as Wal-Mart and Home Depot drive smaller retailers in the same direction.
I'm not trying to scare or overwhelm you with decisions that you are not prepared to make. I am trying to point out a few of the facts you will need to be aware of and consider in product packaging. The time to address these issues is at the point when you prepare your product for market not at the end when many times it’s too late.
Make your product packaging among the first decisions you make with your idea-- not your last. If you need more guidance, check out my packaging websites or come to my Packaging Boot Camp which will answer your "How Do I" questions. http://www.packagingbootcamp.com
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