Strategic Management: Formulation and Implementation

Innovative Packing Strategies

The fact is, the number of consumers willing to pay a premium for products that save time and are more convenient will continue to grow in the next decade. Therefore, effective execution of packing will be the key to tapping the potential of this market.

Sue Bassin distinguishes four strategies that can boost sale and profits through innovative package design:

These four approaches to new packaging enable a company to stimulate the market, establish a position, and gain a reputation for leadership.

Moreover, innovative new packages and products can even offer an opportunity to create whole new businesses, and therefore new sources of sales and profits.