Packaging and Pricing Your Product
Packaging and pricing represent a very concrete way to communicate with your target market and express the positioning of your business.
- Package design is more than just the look of the physical wrapper or outer container that a product comes in. Packaging can be the way in which services are bundled together for an intermediate buyer or end user. For physical products, the package label or wrapper may represent the product's entire business positioning, list of features and benefits, advertising, and promotion, especially for smaller businesses.
- Pricing must reflect not only your costs to produce the product or service at the expected volume, but also the value your customers place on what you offer. What's more, price is a way to differentiate your business from others, especially in the consumer market.
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