15 ways in which this pack of biscuits teaches “How to do a business successfully?”
Identify a Problem : The market is full of biscuit packs of Rs 10. There is a huge market in rural India where the spending capacity for biscuit pack is Rs 5 only. Why not introduce a biscuit pack with cream for Rs 5 only but looks big? Also there is a problem of ‘change’ of Rs 5 in urban market. Hence the Rs 5 which is the standard AFFORDABLE FMCG PRICE for every Indian.
Identify the Target Group : The customers (mainly CHILDREN AND LOWER MIDDLE CLASS PARENTS) doing shopping at Pan shops and small grocery stores on every street in every village/town/city of India.
Provide Easy and Cost-effective Solution : 5 CREAM biscuits with 6th one extra (20% EXTRA) AVAILABLE WITHIN 100 METERS of customer’s location.
Product Packing should be Rich and Attractive : Small Rectangle Biscuits LOOK BIG compared to Small Round Biscuits. Glossy paper with bright colours showing MORE cream with proper highlighting of 20% Extra (Yellow Band of 20% Size) and Rs 5 NEXT TO NAME of biscuits is big advantage.
Product Packing Shape, Size and Strength matters a lot : Small shops and stores have limited space and sliding showcases with less depths. RECTANGLE SHAPE saves space, biscuit packs can be easily stacked, front side fully visible. TIGHT PACKING reduces breakage of soft biscuits.
Product Quality should Add Value in Taste and Health : Sweetness and Cream attracts all humans in the target group. Adding health supplements and highlighting will add knowledge and satisfaction of customers.
Product Branding starts with Visuals : Give maximum space to name/logo you want to the product to be remembered by. Here it is the short word ‘MAGIX’ (and NOT Parle or Pineapple or Flavoured Sandwich Biscuits). NOTE: ‘Parle’ brand has already been set for Parle-G buiscuits, so can’t use that.
Previous/Ongoing Branding helps the New Product : The TRUST created by genuinely giving good quality and quantity of (Parle-G) biscuits helps the new product atleast to be tried by earlier SATISFIED customers.
Highlighted Product USPs help Sales : The USPs, in this case, are Cream, Affordable Price (Rs 5), Something Extra (20%) and Value Addition (Health Benefits) and they are prominently highlighted on ATTRACTIVE FRONTSIDE of the pack.
Unhighlight the Risky Points : The weight, in this case, is written in small REGULAR font size with REGULAR black colour in the middle of the UNATTRACTIVE BACKSIDE of the pack.
Let Product do Marketing Promotion : Design the product in such a way that the customers can share easily. In this case, the not all 6 biscuits are eaten mostly by the owner, but a few are SHARED WITH POTENTIAL CUSTOMERS too!
Images on Product Packing help Sales : In a FMCG product the images on product packing motivate the customers to BUY the product. In this case, it is the MOUNTAIN OF CREAM.
Smiles = Happiness = Satisfaction = Retention = Branding : A smile on your customer’s face brings happiness after satisfaction in terms of quality and quantity and this will retain the business and create a brand. In this case, sweet 6 cream biscuits against Rs 5 only brings the smile.
Product Packing itself should generate Sales : The packing design should be done keeping sales in mind which comes after understanding the USPs of the product and understanding the target group of customers. Every unit of space of the product packing should be STRATEGICALLY planned.
Product should have Magic Win-Win Formula : The first Win is for the Company and the second Win is for Customers. In this case,
- the Company has increased the price (and profit) by 25% smartly. Earlier they were selling 50g pack (5 biscuits) for Rs 4 and now they are selling same 50g pack (6 biscuits) for Rs 5.
- the customers assumes/feel 20% extra (6th biscuit) in proportionately longer square shape pack for JUST Rs 5.