Product Packaging Guidelines for Start-Up Businesses to Ensure Profitability

If you have a startup business in mobile or electronic products, you have lots of obstacles to rise above as you get your product off the ground. It has been researched that around 90% of the startups fail. The reasons for this failure are many and range everywhere from lack of requirements in the market, shortage of funds, the wrong squad but you can help keep your business on the right track is when you find the perfect product packaging, strategies and the suppliers that to appropriately guide your business to success.

Big Dreams and Rose Colored Glasses

Most of the startup owners feel a little shell shock when they begin the journey of packaging their prototypes. Packaging can cost more than the expectations, but it certainly sets the first impression about your product into the minds of the consumer. It is the doorway to the customer base you aim to build. So, it becomes important that your packaging becomes a priority on your to-do list and then you can move forward to identifying your target market.

Identify Your Target

There are numerous natural packaging concepts that are planned to grasp the eye of the customer in the marketplace when you surely have something that will make you stand out from the crowd and make your product the topic of discussion among your target market. If you are tight on your budget, try to become creative rather than feeling demotivated. When you know your target audience, you can bring in your products as per their requirements.

If you prefer direct-to-consumer instead of selling on the shelf, then expensive packaging might not the solution. Take into account easy to open, easy to throw away packaging that seems easy to the customers when they open the packing. On the other hand, the ‘unboxing’ knowledge can also help you here. So, it is better that you recognize the needs and preferences of your consumer along with word of mouth recognition. A skilled supplier can guide you in the right direction if you do not have any packaging expert.

Be Familiar with your Competition

Before moving to production, it’s vital to understand how your competitors are selling and wrapping their products. How can you set your product apart from them and still hold the attention of the customer? Take into account their marketing strategy of your competitors. Examine their packaging design and the materials, classification and the color combinations they make use of. Contrast these to your consideration of the target market. Bearing in mind these things, strategize your package design and build your marketing strategy.

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