Think of a product. For instance, Coca-Cola.
The image that usually comes first to mind is the pack. Which is why packaging plays such an important role in building the brand’s image.
Of no less importance, is its role in sales.
Packaging encounters the consumer at a crucial juncture—the moment, at the shelf, when she is about to make her purchase decision. This is the moment the pack must sell the product.
Packaging is also a form of advertising. Good packaging augments advertising in building brand equity and generating sales. Inferior packaging, on the other hand, can weaken brand performance.
Over the years, as media advertising has fragmented, and media costs have increase, brands are relying relatively less on media for advertising support. This increases the importance of the role of package as the advertising campaign.
Consumer research supports marketers through the stages of development of packaging—review, exploration, screening and optimization, and validation. It helps them identify the functional and graphic elements of the design that break through the visual clutter on-shelf, improve the communication and strengthen the imagery.
Note: To find content on MarketingMind type the acronym ‘MM’ followed by your query into the search bar. For example, if you enter ‘mm consumer analytics’ into Chrome’s search bar, relevant pages from MarketingMind will appear in Google’s result pages.
Marketing has changed. More so in practical terms, and marketing education is lagging.
The fundamental change lies in the application of analytics and research. Every aspect of the marketing mix can be sensed, tracked and measured.
That does not mean that marketers need to become expert statisticians. We don't need to learn to develop marketing mix models or create perceptual maps. But we should be able to understand and interpret them.
MarketingMind helps. But the real challenge lies in developing expertise in the interpretation and the application of market intelligence.
The Destiny market simulator was developed in response to this challenge. Traversing business years within days, it imparts a concentrated dose of analytics-based strategic marketing experiences.
Like fighter pilots, marketers too can be trained with combat simulators that authentically reflect market realities.
But be careful. There are plenty of toys that masquerade as simulators.
Destiny is unique. It is an authentic FMCG (CPG) market simulator that accurately imitates the way consumers shop, and replicates the reports and information that marketers use at leading consumer marketing firms.
While in a classroom setting you are pitted against others, as an independent learner, you get to play against the computer. Either way you learn to implement effective marketing strategies, develop an understanding of what drives store choice and brand choice, and become proficient in the use of market knowledge and financial data for day-to-day business decisions.