Welcome to the second article of Toluna’s (formerly MetrixLab) PACT blog post series: a collection of blog posts that dive into the principles and best practices of effective packaging design. Our first blog post explored the importance of packaging structure. Today, we’re discussing the role of packaging design in driving premium perceptions of products. Let’s go!
Elevate your ability to command a premium price for your product
High-quality products tend to have higher price points. By extension, high-quality, premium-priced products tend to be marketed in premium packaging designs. These premium designs signal that the quality inside matches the quality outside, and thus that the price is justified.
Essentially what we have is a triangle of product quality, packaging quality, and premium price, all working together in an intricate interplay, wherein packaging design can be leveraged to signal product quality and to justify or even to elevate the product’s price.
For example, imagine you’re on holiday in a foreign country, venturing into unknown supermarkets that feature brands you’re largely unfamiliar with. Chances are you’ll look at design and retail price to guestimate product quality.
Premium products require premium packaging, and in turn, premium packaging can create the perception of high-quality products. It can also help command a premium price for your product and help escape the vicious downward spiral of price promo cycles.
What is important is to ensure that the quality of your design is not only in sync with your product quality but also with its in-market price. Consumers will implicitly assign a permissible price based on the quality of your packaging design, relative to the designs of your competitors.
Features of effective premium packaging
The good news is that there are design tips and tricks to help signal and even elevate premium product quality and permissible price perceptions of your product through its packaging. I’ve put together 7 key features of effective premium packaging:
In our competitive world, leveraging your packaging design to drive premium perceptions in subtle yet effective ways can help dodge the negative price and promotional pressures and instead enable you to command a fairer price for your product. As such, premiumization is well worth your consideration and possible investment.
Want to learn more about designing packaging that stands out and tells a story worth hearing? Get in touch with one of our experts – we love sharing our craft!