Preparing for Market
Packaging
Other than the actual quality of the product, many other factors can determine market success. You can also add perceived value by packaging your product differently, or bundling a service and presenting it in a glossy brochure (Asia Africa Intelligence Wire). How the product is packaged can have a big effect on who buys the product, and how it is perceived after purchase. Product packaging is the box that the product is enclosed in.
Depending on where the product will be sold, packaging importance can vary greatly. If the invention is sitting on a shelf among many competing products, a cool or professional appearance could be needed to gain attention. On the other hand, if most sales are made on the Internet, the box the product comes in doesn't matter as much. The customer has already been sold on buying the merchandise and doesn't need to be persuaded any further. The web site is the key marketing tool and "packaging" that sells online products.
We already discussed how important knowing the customer is to being Product-Smart. It is important to consider whom the target market is, who is buying the product off the shelves or from the web site? If the product is marketed to teenagers, the packaging might have explosive colors and designs to make it "cool" to buy. The same goes for the web site; it must appeal to teenagers so they will want to buy the product. If the target market is older people ages 60 to 90, maybe the web isn't a great packing tool and the product packaging should be plain with big writing.
Product packaging is an important element to consider before going to market. It can alter the way a product is perceived by customers.
Paper outline
- Protecting inventions
- Manufacturing the product
- Getting resources and financing
- Testing the market
- Preparing products for market
- Closing thoughts
- Download the entire paper
Check out the Silent Timer Web site to see the product Erik took to market. Contact him with any questions.
