Before getting into what the fifth P of marketing is, we need to understand what the previous 4 are. Marketing is a very tricky game. You need to be one hundred percent sure about your product, the usage of the right words, the target audience, and at the end of the day perfect execution. Any successful business has a perfect marketing plan which is made before launching the product.
For example, for, the food making industry has a different set of rules that they need to abide by. These rules also include the 4P’s of marketing. So basically, what are these P’s? And which is the 5th one that is so important? Here is the answer:
Any marketing strategy is surrounded by the four P’s namely
All of these are detrimental in the selection of an accurate marketing strategy. But besides that, the 5th P is the most important.
The most essential P is called Packaging.
The reason is that many companies usually have the perfect marketing plan where they have determined the details about the product, the target audience, selection of accurate pricing, and place where the product is sold. They have also determined the modes of promotion; however, they would still fail. The main issue is that packaging is not given enough attention and hence even though everything about their plan is perfect, it is still deemed to fail.
Benefits of Enticing and entailing Packaging
When it comes to the food manufacturing industry, custom coffee boxes are the real deal. The reason is that even though you master everything in the marketing mix, the most essential thing is when the customers will look at your product. Custom boxes ensure that the customers will be enticed to at least touch and the product in the supermarket, if not buy it.
As a new business owner, the important thing is to increase brand identity. Indeed, many buyers cannot tell the difference between two sets of ads running on their TV, however, they sure can tell the difference between the two companies just by the packaging. This shows that packaging is very essential for building brand identity in times where there is so much competition around. Having enticing and entailing packaging will attract the customers and will be a whole new marketing tactic; one thing that will boost any business.
How to use all the P’s to make a proper marketing mix?
Having said all this, proper usage of all the five P’s is important in the marketing mix. Here is a list of ways in which you can use them efficiently.
First of all, it is essential to select the service, or product that you are willing to sell. It is important to see how essential it is in the lives of the customer to select the right and proper product to sell. When it comes to the coffee boxes, we all know that it is a necessity in times like these where people have become more dependent on this drink in their daily life.
Once you have selected the product, you need to come up with a price that is a little bit lower than the one available in the market. The reason is that people tend to buy a product that will save them a little bit of financial burden but still provide them with the quality that they need. To do that, you must have proper research of the prices that your competition is asking from the buyers.
Before getting into what place you are launching the product, you need to make a list of essential areas where the promotion can be held. Some of these include
- Social media
- Print media
- News, flyers, brochures
- Sessions, seminars
Such promotion tactics are always beneficial in order to maintain a proper brand identity.
Moving forward, it is also important to determine the place where the product is to be launched. Availability of this place is important to check for all added financial burdens. Other than that, the feasibility will also tell us a lot about the target audience. It is no doubt that you can tell a lot about the people who visit a place frequently.
This is the most important tactic. You can use the services of companies like H5 Packaging to ensure that you have made the perfect custom boxes for your brand. These boxes will then move on to bring most sales because no matter what you say in the promotional posts, what the customers will be attracted to is what they will see in the supermarket. So special emphasis needs to be given to that.
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