Live experiences can be compelling and memorable, and they have the power to stimulate strong emotional connections. The implications for brands and licensed properties are huge because today’s consumers want to do more than purchase products and services.
These days, most retailers prefer that their own line of products be called private brands, not private-label products. Many might even call these products a store brand or own brand. Indeed, there has been considerable evolution in this segment of the market.
You may have heard predictions that online shopping will eventually overtake traditional brick and mortar stores. While “e-tailers” may continue to gain ground, consumers still enjoy touching and feeling a physical product in stores.
Throughout the past decade, behavioral economics has made an enormous impact in the realm of academia, government and public policy. Today, this framework is now entering the world of marketing and consumer research — and its influence will be profound.
Packaging has two major functions: protect and sell. It’s impossible to say which is more important. However, we know packaging that effectively combines both purposes can form the basis of a brand’s image.