Packaging Supplies Can Determine The Success Of A Start Up
The fact remains that 90% of the #startups fail as they are not able to identify the market need, do not have enough funds, have the wrong team, or cannot manage their competition. But there is one way to ensure that the business stays on the right track. This would require managing the packaging supplies properly. This would entail finding the product packaging that is ideal, following the processes and finding the right suppliers who can help the product to get launched successfully.
There would be several issues for startup owners as they start their journey by packaging their prototypes for the market. It can turn out to be more expensive than they expected. Still, the packaging is important as it is the first impression that the consumer will have about the product. Hence it is the gateway to the consumer base being built. In order to ensure that the packaging is perfect, it is important to know the target market first.
In order to have unique #packaging, it is important to be a little creative. There are several ways to design great packaging in a cost-effective manner. In order to reduce costs, flexible packaging can be used rather than making use of bulky boxes or glass jars, as these reduce space as well as freight costs. Printed labels can be used as an alternative over a custom. Even automating the packaging line may turn out to be a good option for long-term savings.
The fact remains that there are already several highly attractive packaging concepts in the #marketplace. Hence there needs to be something that can stand out and make a mark in the target market. Money may not work here, but creativity will.
In fact, even a #minimalist package #design may appeal to the target audience. They may be looking for an easy to open, as well as easy to discard type of packaging. Hence understanding the needs of the consumer is going to lead to repeat purchases. There are several packaging designers who can help here.
In addition, it is imperative to know how the competition is marketing as well as packaging their products. The product has to be differentiated from them and still be able to catch the attention of the consumer. This means considering the marketing strategy of the competitor, their packaging design, the materials being used, the labeling as well as colors. This research will help to drive the packaging design as well as the marketing strategy.
The packaging manufacturers will always ask for Minimum Order Quantity (#MOQ) requirements. This can be unexpected for a new business owner. For those who are starting on a small scale, it is important to understand the minimum order quantities which the manufacturer will require for the specific type of packaging. This is because manufacturing of a package requires investment. Hence the order has to be able to cover these expenses too.
In order to reduce costs, ordering bulk quantities will often impact the pricing in a big way. Smaller quantity orders tend to cost more. This applies to everything, including the packaging materials. Buying in bulk would require managing inventory as that will help to reduce the overhead costs in the long run. But in case the product flops, there would be a much bigger loss due to a useless inventory.