Analysing the packaging of premium category food products

Abstract

Packaging is an important attribute to drive sales in the premium category products. As per the AIDA model, after the awareness for the product has been created it is important to create interest in the product. Packaging plays a keys role in creating interest in the consumers’ mind to buy the product, as packaging is the first thing about the product that attracts a consumer. It conveys product information, helps in safe transportation of the product, identifies the brand, responsible for making a favourable overall impression and hence is a key factor in the consumer’s decision to buy a product. For the premium category consumers, the product purchase decision is solely driven by the extent to which the product satisfies the symbolic and hedonic benefits associated to it. It is a status symbol and hence, there is a detailed consumer decision making process involved, indicating that the premium category consumers analyse packaging critically before making the purchase. Packaging is one of the key attributes to have a product in their choice set. The product package for food products is directly associated with the food quality so, with rising affluence, people are willing to spend more for better packaged food products and hence it is essential to analyse the packaging of premium products and understand what constitutes a good package. Packaging includes five different types- Paper and board, which is the highest in the category followed by the rigid plastics with the next highest share in the packaging 1category. The other three types include glass, flexible plastic and beverage cans1) . In the global packaging industry, the food contributes to the highest market share of the packaging market. It is followed by beverages, healthcare, cosmetics and others in the descending order of the market share contribution to the overall global packaging market1) . In our CCS, we have identified some of the package attributes and analysed its impact on the perceived premiumness of the product. Prior to the analysis, we conducted a literature review to understand the previous and ongoing research in the field and proceed accordingly