Articles
New Product Packaging - Tips For a Successful Product Launch and Building Market Share
Although many new products that enter the marketplace have unique formulations and ingredients, a unique delivery system and ease-of-use with a good product will outperform a great product with a mediocre package.
Many marketers have found that in order to win market share and build a loyal customer base, they must exceed their customers' expectations from their first impression of the package presentation to the ease of use and product performance.
Research shows that customers who use intuitive packaging will tend to repurchase the same product due to its ease of use and positive user experience. Creating a unique package design that consumers find easy and exciting to use will provide you with lasting brand identity that will ensure long-term success.
Differentiation in your design can also keep your competitors from eroding your market share. Features as simple as creating a contoured spout or developing a package that can be easily dispensed at the point of use while on the go may make or break your product launch.
Besides creating a unique and effective package design, many other important factors contribute to successfully launching a new product. By following these four steps, you can increase your product's chances of success.
- Evaluate the current market and understand the strengths and weakness of the current market leaders. Determine what is not currently being delivered in both product experience and performance and package ease of use. Then, develop a set of objectives for your product based on the current market.
- Check the product or formula for label accuracy and ingredient statements. Perform stability and compatibility testing in bulk form and in the optimal package/delivery system. In many cases, this testing will be done on several packaging methods to ensure back-up options are available if the preferred material does not pass.
- Complete the designs and samples of the secondary package based on how and where the product will be distributed and displayed.
- Conduct additional package and shipping tests as needed based on the specific requirements to insure the product/package arrives to the end customer in the best possible condition.
There are no shortcuts to a successful product launch, yet there are many pitfalls that can greatly reduce the life expectancy and level of success of your product. Keep the current market in mind, conduct thorough testing and develop a user-friendly delivery system, and you will be on the road to winning market share.
