The 4 steps to every consumer purchase – Week 4

19 Friday Apr 2013

Posted by Brian Pankratz in Consumer Satisfaction, Marketing, Packaging Design, Product Development

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advertising, brian pankratz, brianjpankratz, co-packing, cost reduction, cost savings, Design, designs, Display Pack, Emotional Marketing, environment, Innovation, Marketing, maximize profit, New packaging designs, new product, packaging, packaging and containers, packaging assembly, packaging companies, Packaging solutions, product development, Product Packaging, Quality, simple packaging features, thermoforming

This week we are wrapping up our series with The 4 Steps To Every Consumer Purchase. If you missed any of the previous weeks, you can find them here…Week 1 – Scanning, Week 2 – Price, Week 3 – Comparison.

Step 4: The Final Step
Making a purchase is an emotional process. Manufacturers need to offer products that help the consumer confirm that they are making the right decision. The last and final step is the Confirmation step.

The Confirmation Step
In this step the product is in the hands of the consumer. They have reviewed the benefits, features, and price point. We now have to win the emotional connection with the consumer. Most consumers have had problems with products they purchased in the past and want to ensure this doesn’t happen again. They are asking the following questions:

Will I have to return this product later?
Will this product be easy to use?
How long will the product last?
Most importantly…do I “feel good” about this purchase?

Feeling Good – Emotional Connection
Yes, it’s true. Consumers need to feel good as they make the walk to the register with your product in hand. Have you ever purchased a product and shortly after leaving the store felt regret about your purchase? This is called “buyer’s remorse” and it is a very real emotional response in the buying process. If, through your packaging you have answered the price (value) and comparison questions, then the potential for a negative emotional response is reduced greatly. Packaging has the ability to generate excitement about the purchase as well as an eager expectation when the product is removed from the packaging. When all of these steps are in line, you have a successful package. The way your product is packaged matters. Consumers respond when products are packaged with them in mind. They receive the needed confirmation that the product is exactly what they are looking for, this is successful packaging.

When the consumer confirms that you have the best product and they have a sense of security with their purchase, loyalty is built. Can you think of any products that have a loyal following? If so, care was put into the way that product was packaged. Packaging does matter, and those who take the time to understand how to package their product to communicate all 4 steps will have a better chance of building their customer base.

For more information on creating packaging that captures all 4 steps and helps to build customer loyalty, contact Brian Pankratz, bpankratz@mercuryplasticsinc.com.

Don’t miss a week! To get the next post in this series sent directly to your email, subscribe at, www.brianpankratz.com.

The 4 steps to every consumer purchase – Week 3

10 Wednesday Apr 2013

Posted by Brian Pankratz in Marketing, Packaging Design, Product Development

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brian pankratz, brianjpankratz, co-packing, Design, Display Pack, Holiday packaging ideas, Innovation, Marketing, maximize profit, New packaging designs, new product, packaging, packaging and containers, packaging assembly, packaging design, Packaging solutions, packaging supplier, pankratz, printing, product development, Product Packaging, Quality, single source, Supplier, sustainability, thermoforming

Welcome to week 3! Let’s recap…in week 1, we talked about the Scanning step, creating a package design that attracts the attention of the consumer. In week 2, we talked about Price, making sure the consumer agrees with your price point.

Step 3:
This week we are going to talk about what happens after the consumer finds your product and then processes the price. This step is called the Comparison step.

The Comparison Step
In the comparison step the consumer wants to make sure they have selected the best product for their money. So, even after they find what they like and agree with your price point, the consumer will still compare their choice to make sure their selection is the right one.

It is important to know what role packaging plays in this step. The way product is packaged can either bring additional value, or give the consumer hesitation in making a purchase.

Things To Think About…
Here are some things to think about when packaging your product:

Is your product the highest or lowest priced compared to your competition?
How does your competitor pack their product? If in a bag, a blister pack or clamshell may offer your product a higher perceived value.
Does your packaging help the product stand out among the other products?
Is your packaging unique?
Are the specifications or benefits of your product clearly mentioned?

The Goal
There are many things to think about when creating packaging for products that will be compared to one another. The goal is to design packaging for your product that has a loud but comforting voice to the consumer.

Each product is different and special consideration should be given to each product before assuming how it should be packaged. The goal of the comparison step is to offer security to the consumer that your product is better. Consumers aren’t afraid to spend more money if they know they are getting a better product. How does your product compare?

For more information on creating packaging that can win the Comparison step, contact Brian Pankratz, bpankratz@mercuryplasticsinc.com.

Don’t miss a week! To get the next post in this series sent directly to your email, subscribe at, www.brianpankratz.com.

The 4 steps to every consumer purchase – Week 2

12 Tuesday Mar 2013

Posted by Brian Pankratz in Consumer Satisfaction, Marketing, Packaging Design

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brian pankratz, brianjpankratz, co-packing, cost reduction, cost savings, Design, designs, Display Pack, holiday packaging, Innovation, Marketing, maximize profit, New packaging designs, new product, packaging, packaging and containers, packaging assembly, packaging companies, packaging design, Packaging solutions, packaging supplier, pankratz, printing, product development, Product Packaging, Quality, single source, Supplier, sustainability, thermoforming

Welcome to Week 2 of “The 4 steps to every consumer purchase”. If you missed week 1, you can find it here.

Recap
When consumers shop they follow four steps before they make their purchase. Understanding the pattern and focusing on how this relates to packaging can help to sell more product, while increasing profits. In week one we talked about the first step, scanning. Consumers start the purchasing cycle by letting their eyes scan the products until one specific product wins their attention.

Step 2:
The consumer has now found a product they like, what do they do next? They look at the price. Seems pretty straight forward, right? Well it is…but the important thing in this step is to understand what questions the consumer asks after they see the price.

The Questions:
After the consumer views the price of the product, they ask themselves the following questions:

Is the price what I expected to pay for the product?
Am I getting the best product for the money?

Before the consumer looks at the price, they have an idea of what the cost should be. So, how does packaging play a role in this step? Simple, more affordable packaging can reduce the overall cost of the product. The cost of your packaging can help you to be more competitive and win more sales.

There are some simple ways to get cost of out your products packaging without sacrificing quality or overall design. Reducing the product to package ratio and using alternative recycled materials are good places to start, but there are many other ways to reduce cost. New designs that can attract more consumers should be considered as well.

The goal is to improve each step of the process. Creating a new design that is more attractive along with reduced costs in packaging is a great combination that will help to win the sale.

Join us next week as we learn what happens when the consumer isn’t satisfied with the price point of your product.

Don’t miss a week! To get the next post in this series sent directly to your email, subscribe at, www.brianpankratz.com.

To learn more about creating packaging designs that save you money and increase profit, contact Brian Pankratz, bpankratz@mercuryplasticsinc.com.

About the SuperBowl Commercials…

04 Monday Feb 2013

Posted by Brian Pankratz in Consumer Satisfaction, Cost Savings, Marketing, Packaging Design, Product Development, Sustainability

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advertising, Ameristar Award, brian pankratz, brianjpankratz, cost reduction, cost savings, Display Pack, Innovation, Marketing, maximize profit, New packaging designs, new product, packaging, packaging and containers, packaging companies, packaging design, Packaging solutions, packaging supplier, pankratz, printing, product development, Product Packaging, single source, thermoforming

Do you know anyone who watches the Superbowl for the commercials?

Did you find yourself waiting to be amused when a new commercial came on?

Ask yourself this question…if companies can produce commercials during the Superbowl that draw our attention and get us laughing and talking for days , then why aren’t commercials like that all year-long? Have we been programmed to just settle the rest of the year and only expect greatness in advertising while watching the Superbowl?

Now about packaging
Since we’re talking about packaging, I’ll ask another question…why do some companies settle when packaging their products? If packaging helps to sell the product, then why would anyone want to settle for packaging that doesn’t “WOW” the consumer?

It’s your call
The fact is…new packaging designs take time and resources. I completely understand that our schedules make it tough to fit in additional projects. But, what if I told you that I can evaluate your current packaging and offer honest feedback at no costs? Offering designs that could leap-frog your product ahead of your competitors? Would you be interested? What do new packaging designs offer?

Here are a few benefits that earlier redesigns have resulted in:

1. Reduced cost for packaging resulting in increased profit.
2. Packaging design awards.
3. The use of more sustainable materials.
4. Smaller carbon footprint in manufacture process.
5. Reduction in packaging components used.
6. Increased satisfaction among retailers and consumers.

So now what?
If you have products that you are responsible for and want to find out if there are better ways to packaging them, contact me and let’s talk. Step one is to have a quick discussion to decide if there is a fit for us to work together. If there is a fit…we continue, if there isn’t a fit…we don’t. Pretty simple and shouldn’t take more than 15 minutes.

Don’t let your packaging turn into every other design. Make it unique and “WOW” the consumer with every product you have!

For more information on creating new packaging designs, contact Brian Pankratz. bpankratz@mercuryplasticsinc.com.

5 Reasons You Must Shop Your Own Product

23 Wednesday Jan 2013

Posted by Brian Pankratz in Consumer Satisfaction, Marketing, Packaging Design, Product Development

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advertising, brian pankratz, brianjpankratz, cost reduction, cost savings, Design, designs, Display Pack, environment, holiday packaging, Innovation, Marketing, maximize profit, New packaging designs, new product, packaging, packaging assembly, packaging companies, packaging design, Packaging solutions, packaging supplier, printing, product development, Product Packaging, simple packaging features, single source, Supplier, sustainability, thermoforming

Have you ever been in a store and shopped the product you manufacture? Not only shopped your product, but also shopped your competitor’s product?

If so, what did you learn?

Maybe a better question is…what can you learn by shopping your own product and why would you want to do this?

Here are five reasons why you should shop your own product…

1. Know what the retailer is saying about your product: Sales associates help consumers make decisions on what products they should buy. They offer their opinion and in most cases, their opinion will sway consumers to purchase certain products. Understand what the retailers are saying about your products.

2. Understand what your competition is doing: It is always a good idea to stand in the aisle where your product is offered to see how it compares to your competition. For example: if your competition is packaging all of their product in clamshells and you have made the decision to use bags, your presentation may lose the sale.

3. Shelf placement: Does shelf placement matter on how you package your product? The answer is…Yes. This will help determine how you show your product in the packaging. It’s not easy to always know where your product will be placed, but some items are commonly placed in certain areas. Whether in a bulk bin, end cap, or stand alone in-aisle display matters. Maximize your products visibility by using packaging that helps show your product better from all angles.

4. Product presentation: This one is easy…walk up to your product as if you were the consumer and determine if your packaging has something that grabs your attention. Features can be added in the packaging design that spark curiosity and draw the consumer in. Also look for anything that takes away from your product, such as a glare on the plastic that makes it tough to see your product. Make sure your packaging, “POPS”!

5. Knowledge of your product: This one may not be for everyone, however, if your product requires the sales associate to know certain features that will help them to sell your product better, make sure they are offered information with supplemental training to inform them. This can be as easy as inserting an extra instruction sheet into your master carton with your product that is titled, “What you need to know,” or a customer care phone number to call and get more information. At the least, put all major selling points in your graphics so the consumer can be made aware of your products benefits.

There is a lot to learn when going shopping, do not take this environment for granted. When designing packaging, we personally use this practice to determine how to create packaging that makes an impact on the store shelf. After going shopping, answer the most important question of all, “with the many choices of products similar to yours, would you buy your own product?”

If you would like to learn more on creating better packaging designs for your product, contact Brian Pankratz, bpankratz@mercuryplasticsinc.com.

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– Week 3: How Important is Profit? Plan-Plan-Plan!

09 Wednesday Jan 2013

Posted by Brian Pankratz in Cost Savings, Packaging Design, Product Development

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2013 goals, advertising, brian pankratz, brianjpankratz, co-packing, cost reduction, cost savings, Design, designs, Display Pack, Innovation, Marketing, maximize profit, New packaging designs, new product, packaging, packaging and containers, packaging assembly, packaging companies, packaging design, Packaging solutions, packaging supplier, pankratz, printing, product development, Product Packaging, profit, Profitability, reduce costs, single source, Supplier, sustainability, thermoforming

Welcome to week three of, “How to cut costs and maximize profit in the New Year.” Let’s start with a question: How important is profit to your company? The ability to keep the doors open depends on your ability to create profit. Not only is being profitable important, it allows organizations options to produce additional growth. Investing in new equipment and launching new products is dependent on the ability to create profit.

A quick look back…
To summarize where we have been in this series…in week one, we reviewed ways to design your packaging to increase profits. In week two, we covered how being sustainable can increase profits. This week we are going to focus on how planning can either increase or take away profit.

Plan-Plan-Plan
Regardless of what industry you are in, the same goes for all…poor planning will contribute to increased costs. The better planner you are, the more you can eliminate added costs. How orders are placed, how packaging is designed, and how much time is allowed to complete projects are all examples of areas planning is important.

Example:

In the year 2013, company ABC plans on launching five new products. They are similar in size and shape, but do have features that make them different. The method of packaging will be a clamshell with an insert card.

Poor planning: Create five different clamshells to custom fit each product.

Good planning: Create one clamshell that can hold all five different products. (If needed, create a smaller insert tray to better hold the product in place.)

Result: The “Good planning” example will have the same packaging for all five parts. Since the packaging is similar for all five, the quantities will be more, which will allow for better pricing and will result in one part number being used over five parts. The insert cards will be a common die line which will result in better pricing for printing. Also, it will reduce the chance for obsolescence packaging costs.

There are several examples similar to the one above that can lead to increased costs due to poor planning. The goal is to work with suppliers that can identify these areas and help reduce your costs resulting in increased profits. Sometimes, identifying these areas can be difficult, so it is important to partner with those who have a track record of reducing costs while increasing the value of your packaging. Create profit in 2013 and do it by being good planners!

For questions or for more information on how you can increase profits in the coming year, contact Brian Pankratz at Mercury Plastics, Inc. bpankratz@mercuryplasticsinc.com.

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– Week 2: How to cut costs and maximize profit in the new year!

29 Saturday Dec 2012

Posted by Brian Pankratz in Cost Savings, Marketing, Packaging Design, Sustainability

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brian pankratz, brianjpankratz, cost reduction, cost savings, Design, Display Pack, environment, Innovation, Marketing, maximize profit, New packaging designs, packaging companies, packaging design, Packaging solutions, packaging supplier, pankratz, Product Packaging, Quality, single source, Supplier, sustainability, technology, thermoforming

Week 2: Sustainability increases profits!

Yes, the title is right…packaging your product in a way that communicates your companies care for the environment can help profitability. Why? The reason is…consumers like manufacturers that care about the environment.

A common problem
If a company cares about the environment, but doesn’t relay that message out to the consumer, how are they to know? Another question…if you package your product with 100% recycled materials, do you think it helps to say this on your packaging, or should you just have your customer guess if you have made the
decision to be sustainable? You guessed it, if you are taking a position to use recycled materials, tell the consumer. For some consumers it may be the deciding factor with two like products at equal price points.

Some areas to focus on
There are easy ways to package your products to promote sustainability. The raw materials you use, the use of certified materials or paper boards, keeping a low product to package ratio, possible down-gauging thermoformed plastics, and the best way is to actually tell the consumer verbally on your packaging. Use easy to recognize symbols and verbiage that tell the consumer that you are focused on the environment.

Consumers desire products from companies that they know are doing their part to help the environment. My advice is…be sustainable and communicate clearly how you are helping the environment with the way you are packaging your products.

For more information on how to cut costs and maximize profit with your products, contact Brian Pankratz at Mercury Plastics, Inc, bpankratz@mercuryplasticsinc.com.

– Week 1 – How to cut costs and maximize profit in the new year!

17 Monday Dec 2012

Posted by Brian Pankratz in Cost Savings, Packaging Design, Product Development

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brian pankratz, brianjpankratz, buyer, cost reduction, cost savings, Display Pack, environment, Holiday packaging ideas, Innovation, Marketing, maximize profit, New packaging designs, new product, packaging and containers, packaging assembly, packaging companies, packaging design, Packaging solutions, pankratz, printing, single source, Supplier, thermoforming

It’s that time of year again…executives around the globe are finalizing departmental budgets and are in the process of communicating next year’s cost savings targets. Over the next three weeks, I want to offer areas to help find these savings since many years of eliminating waste can make it difficult to find additional savings.

Please Remember!
The first thing to remember is, just because you reduce the cost of the packaging does not mean you sacrifice quality or create a less desirable package. Both cost reductions and better overall packaging can be achieved together.

Also, if you already haven’t, I want to invite you to subscribe to this blog to receive future updates in this series. If you know others that need this information, pass it along. If you have questions or need more help, reach out to me for help. Here we go…Week 1: New Designs That Save.

Week 1: New Designs That Save:
One of the best ways to reduce the cost of your packaging is through creating new designs. Many different objectives can be met by creating new packaging designs. The use of more cost effective materials, using less materials, creating designs that are easier to assemble, etc., are all areas to focus.

Why is design the best?
The reason I believe this to be the best method of reducing cost is because of the added benefits that will follow. Do you think that reducing the cost of your packaging along with increased sales would benefit your company? Of course, and that should be the main focus when you create new designs.

What else?
Other areas to review are your graphics. Using spot colors adds cost, are they really needed? Understand what is involved to assemble your packaging. Look for ways to reduce labor costs in the assembly operation (number of total pcs.). Look for ways to create added value with innovative or captivating features. Understand the value that each change can offer whether it is reducing costs or adding more value!

Adding these all together can bring huge costs savings while also increasing additional sales. Don’t just alter existing designs when a fresh new look is what your brand needs.

Need help?
The task of designing new packaging can be overwhelming, don’t do it without the proper consultation. For more information on getting the most out of your packaging, don’t hesitate to get others involved. I have been a part of this process in the past and records speak for themselves. Winning the Ameristar Award 5 out of the last 6 years was not easy, but we are proud of the work we were able to do for our customers.

For questions or for more information on new packaging designs, contact Brian Pankratz at Mercury Plastics, Inc., bpankratz@mercuryplasticsinc.com.

Your Packaging Thinks You’re a “!@#$%^!”

03 Saturday Nov 2012

Posted by Brian Pankratz in Marketing, Packaging Design, Product Development

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advertising, assembly, brian pankratz, brianjpankratz, cost reduction, cost savings, Design, designs, Display Pack, Emotional Marketing, Innovation, Marketing, maximize profit, New packaging designs, new product, packaging, packaging and containers, packaging assembly, packaging companies, packaging design, Packaging solutions, packaging supplier, pankratz, printing, product development, Product Packaging, purchasing, Quality, single source, Supplier, sustainability, technology, thermoforming

If your packaging could talk…what would it say? What would it say about both you and your company? Some of us are thinking to ourselves that we’re very happy our packaging can’t actually talk. A smaller percentage of us wonder what would actually be said. Regardless of the side that you take with wanting your packaging to talk, there is a sobering truth that lingers.

The Truth
The truth is…packaging does talk. How we package our products tells a lot about us. This is consistent with many things in our lives…how we dress, the car we drive, the words we use, etc., all tell a little bit about who we are. This goes the same for how you package your product.

Write the Script
Determine what you want your package to say. Certain colors, textures, fonts, and shapes all communicate different messages. Being unique and creative is essential and will help your packaging to speak loud and clear.

Details
Great manufacturers understand that every detail matters. If you want to be regarded as a top innovator, your packaging should be as innovative as the product inside. Doing this gains confidence with the consumer that attention has been given to every detail, even the packaging. Do consumers notice this? Absolutely!

Your packaging is talking…did you tell it what to say or is it telling everyone that you are a !@#$%^!

If you would like more information about ways to create packaging that speaks a clear message, contact Brian – bpankratz@mercuryplasticsinc.com.

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“Buyers Guide to Packaging” – Week 4: Eliminate the Spaghetti Dinner – Order Single Source Solutions®

08 Saturday Sep 2012

Posted by Brian Pankratz in Info for Buyers, Packaging Design, Product Development

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If you were to create a flow diagram of the tasks in a buyer’s work day, it would resemble a spaghetti dinner (see Figure 1). A buyer’s day is filled with getting quotes from multiple suppliers, issuing purchase orders, handling design issues, traveling to multiple companies for meetings, setting up deliveries, and the list goes on. For some buyers, this spaghetti dinner can be hard to digest.

Simplify for savings:
Thankfully, there’s more on the menu than spaghetti . This past week, Packaging Digest released an article about the how using a packaging supplier who has the capability to be a single source solutions provider can result in major benefits, major benefits that save money and help to reduce the many steps of dealing with multiple suppliers.

There is a list of both benefits and cost reductions associated with working with a supplier who can provide single source packaging solutions.

Cost reductions include:
– Reduced freight costs
– Decreased administrative responsibilities, such as; PO’s, setting up delivery appointments, etc.
– Engineering and design costs reduced

Benefits include:
– Increased speed to market
– More focus to products and profitability for manufacturer
– Less on-hand inventory to manage

A new diagram
Working with a supplier that can provide single source solutions results in a new diagram (see Figure 2), allowing buyers the opportunity to reverse the pattern of having to do more with less, being effective and taking unneeded steps out of their day.

Single source solution suppliers can be the missing link to help manufacturers be successful and profitable in a growing and competitive market. Utilize the resources of key suppliers and grow your brand and your profit margin.

Don’t miss a week! Sign-up today at http://www.brianpankratz.com to get week 5 of “Buyers Guide to Packaging” sent directly to your email.

For more information or for any questions, please contact: Brian Pankratz. bpankratz@mercuryplasticsinc.com

“Buyers Guide to Packaging” – Week 1: Don’t Ask – Don’t Tell

18 Saturday Aug 2012

Posted by Brian Pankratz in Info for Buyers, Packaging Design, Product Development

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brian pankratz, brianjpankratz, buyer, buyers, Buyers Guide, cost reduction, cost savings, Display Pack, environment, maximize profit, new product, packaging, packaging companies, Packaging solutions, printing, product development, Supplier

This week launches us into a new weekly series titled, “Buyers Guide to Packaging.” The information I will be offering in this series will make it a “must read” for every buyer in the packaging industry. If you are a buyer, then you understand fully the continued pressure to drive out waste and cut cost.

Not knowing how to do this could be frustrating at all levels. My goal in this series is to inform buyers and give them the tools needed to maximize their buy while driving cost out of their operation without sacrificing the integrity of the brand.

Always Ask
This week I am going to give you a simple question that you can ask your packaging suppliers. The simplicity of this question should not be confused with the results it can yield. Your suppliers know what materials run better than others, what sizes layout better on their equipment, and ways to optimize design features for smooth manufacturing. The problem is, some buyers never ask…and some suppliers never tell.

Why Don’t Suppliers Say Anything?
So, why is it if suppliers know how to save their customer money, they don’t say anything? There are a few reasons why this may happen…some customers aren’t open for change, some suppliers think designs are set in stone and can’t be changed, the other reason is…buyers don’t ask.

Set Yourself Up For Success
As a buyer, it helps to know what materials are more cost effective, how certain designs dictate costs (specifically what features add cost), and the specifications of your suppliers equipment. For example, if your supplier has an offset printer that can print up to 6 colors on the front side and 1 color on the back and you send over artwork consisting of 4 color process with 3 spot colors on the front, you just bought yourself 2 passes. There are many examples like this, I think you see what I am talking about.

Remember that every detail matters! Working together with your suppliers in the initial stages of projects is the best time to have these types of discussions. Let your supplier help find ways where costs can be cut and profits can increase. If you don’t ask the simple question, you may never get the simple answer.

Don’t miss a week, sign-up today at http://www.brianpankratz.com and get week 2 of “Buyers Guide To Packaging” sent directly to your email.

For questions or comments, please contact Brian Pankratz, bpankratz@mercuryplasticsinc.com.

Brian Pankratz

~ Let's Talk Packaging

Tag Archives: maximize profit

The 4 steps to every consumer purchase – Week 4

The 4 steps to every consumer purchase – Week 3

The 4 steps to every consumer purchase – Week 2

About the SuperBowl Commercials…

5 Reasons You Must Shop Your Own Product

– Week 3: How Important is Profit? Plan-Plan-Plan!

– Week 2: How to cut costs and maximize profit in the new year!

– Week 1 – How to cut costs and maximize profit in the new year!

Your Packaging Thinks You’re a “!@#$%^!”

“Buyers Guide to Packaging” – Week 4: Eliminate the Spaghetti Dinner – Order Single Source Solutions®

“Buyers Guide to Packaging” – Week 1: Don’t Ask – Don’t Tell