BTEC Level 4 Lesson 2.5 : Packaging

This video explores the reasons for packaging; as well as the elements of an effective product’s package.

SUMMARY

  • This chapter has been about those decisions that are closest to the product. The main issues revolve around managing the product portfolio to ensure that the firm continues to offer relevant products to meet the needs of consumers, knowing when to drop a product from the mix and knowing when to introduce a new product.
  • Branding is concerned with communicating the unique selling proposition of the product to the consumers and is the focus of all the firm’s marketing activities relating to the products. The brunt is the personality of the product, communicating subtle messages about quality and performance.
  • Here are the key points from this chapter
  • The product life cycle is a useful description, but not much help in prediction.
  • Products in the star state will cost more money to maintain than they bring in common but are for the future.
  • Dogs may still be profitable, but I’ll probably a poor use of resources and could be replaced by more profitable products
  • War horses and dodos will eventually disappear unless they can be repositioned into new, growing markets
  • Most products will decline in might be replaced eventually
  • The safe route in NPD  is that me-too; the high-growth route is innovation
  • A product is a bundle of benefits, not merely the sum of each physical characteristic.

Welcome to the end of the concepts of products, branding and packaging! and congratulations for completing the topic on packaging . Take some minutes to test your understanding on the concept.