Product packaging is an important factor in making any product or brand as a successful product in market. Consumers have a tendency to look at the product packaging and make respond to its design. The consumer may think once about satisfying their needs and it may influence their buying behavior.
The most important factor of winning product packaging is that behavioral economics which is an economical perception of any individual or a group purchase of a product like shopping with friends and family.
What is Behavioral Economics and Behavioral Finance:
Behavioral economics is about individual or group psychological behavior which is relating to the economic decision making of an individual or an organization. The behavioral economics is a main factor that influences consumer’s purchasing behavior in market and it can also decide the winning product by the frequency of buying it. It can be a new purchase of product or it can a be favorite product or brand of the consumer.
Behavioral finance which relates to associate behavioral and cognitive psychological theory with typical economics and finance of consumers or an organization in order to provide explanations for why consumers tend to make insane financial or purchasing decisions.
When it comes to consumer’s point of view, they tend to think about purchasing a product can be highly benefit for them. It’s basically a human cognition and behavior that consumers play a highly important role in today’s market. The prosumers or manufactures should be able to analyze the consumer’s needs based on type of product and the packaging design made for it.
By this way, any product or brand can be easy made as a winning product based on the packaging design made for it and thereby doing complete analysis and updating consumer’s needs based on the behavior economics and purchasing behavior of an individual or organization.
The term packaging refers to technology of wrapping or protecting products for distribution, storage, sales and use of it. It can also be described as the process of designing, evaluating and producing packages.
There are five innovations and trends in packaging
- Consistent spending in packaging
- Ethical brands
- Eco friendly packaging
- Trendy packaging
- Natural green labels
Consistent spending in packaging:
The latest smart technology has innovative payments methods for online shopping. People started to enjoy extremely quick and seamless transactions. The famous brands need to follow this trend in order to easily use the packaging for consumers. The packaging should be consumer oriented in order to continuous existence in market.
Ethical packaging for any product or brand is highly important based on customer needs and trading of products. The ethical brands should have the details and date of manufacture of the product or brand which makes consumers ease to buy it.
Eco friendly packaging:
The awareness about environment pollution is very high among consumers. The consumers are expecting an environment friendly packaging in products or brands they purchase it in market. They just need a packaging that solves the problem rather than creating it.
The trendy packaging is one of the vital factor for the marketing and sales of any product or brand. It can be used for making an strong impression among target audience such as young consumers. The trendy packaging will be more applied in food and drink packaging.
Natural green labels:
The consumer of present generation is so engaged and demanding to natural looking labels in a remarkable way than to attractive artificial designs. They chose simple packaging design along with the quality of product or brand they chose to buy it and less concern about the price of the product or brand.
These are the five most important innovations and trends in packaging design for consumer oriented market. These steps will be really helpful to make product or brand to market it in an effective manner.
Celebration packaging just not mean packaging of sweets, green gifts, firing of crackers for any type of occasions such as for Diwali, Marriage functions, Christmas and New Year and so on. The actual meaning of celebration packaging is that festival time offers for new or existing product launch with colorful and attractive Packaging Design.
If we consider a new textile product launch of a leading textile store in Tamil Nadu, they will launch a grandeur ad with some celebrity cast in it. They will hang-up flex design, radio jingles, print ad in order to attract the customers and make them buy the product.
Apart from the digital promotion, we must primarily concern about quality, price, discount offers and most importantly how well product packaging is there for a specific product.
In present consumer oriented market, the product packaging design is given highest priority and then to the product. It may range from mobile phones to purchase of jewelry, costumes, lipstick, perfume etc.
The product packaging design is one of the important and influencing factor of purchasing the product or brand. The colorful and attractive packaging design decides upon the sales of the product. The festival offers can be considered as important factor to provoke consumers to buy the product.
Apart from wholesale and retail market, the online shopping market plays a huge role in product packaging design. We tend to view the product clearly in online shopping websites. We chose vibrant and attractive packaging design that is made for any product available in online shopping websites. Apart from promotions of product and offers in online shopping, the way the product packaging design is projected and product type we intend to purchase it determines the choice of celebration packaging.