Packaging – "5th P" of Marketing Mix
The trend in the businesses have changed from packing to packaging. Not just the term has changed but the way packing is done has tremendously changed too. Packaging is simply referred to as the way how the product or service appears from outside to the people.Packaging is the “5th P” of Marketing Mix. Marketing people have emphasized highly on packaging in the last few years as they feel that it is the way to create a first impression on the customers. Marketing people have analyzed that customers buy products on their packaging especially when it comes to impulse buying and that the customers create impression about the product within the 30 seconds of seeing the product and its packaging.Only with the help of packaging there are many products which can now be sold that were not possible few years back. Because of packaging today, products are now been protected from contamination, crushing, breakage, and spoilage and it helps in the product to be unaffected from climatic conditions. Packaging is also helpful in elaborating necessary details about the product, company, quantity, ingredients, precautions and side effects etc. Today many companies have realized that packaging are the way to portray their image and present your brand in front of the customers and it your packaging that differentiates your product from the rest. This is the reason why many average products do well in the market and why many high quality products do not do well in the market.Innovation and creation in the field of packaging has also been the focus of organizations when they are looking to improve products as well as introduce new products. Small improvements in the packaging of a product really change the reaction of the customers. Producers of the product really need to focus on the packaging of the product not just the outlook of the packaging but the material to be used in packaging, its availability, cost etc…
