Modifying Package Designs Opens Up Opportunities
“Packaging innovation, software technology and equipment optimization can all help develop new offerings from existing products, which is ultimately an easier way to reduce customer churn and ensure continued brand satisfaction,” says Tom McGlone, President of Maverick Packaging. A recent Forbes article, “Beat The Odds: How to Successfully Create New Products”, also makes the case.
Innovation comes with risk, so there are some fundamental truths that we recommend companies adhere to. First, it is three times more difficult to sell a completely new-to-the-market idea than it is to sell an established concept. Second, the universal law of 80/20 has proven many times over that it is the critical few winners that produce the majority of results. As you continue to dig deeper into an area of success, you’ll find more success. Lastly, history is filled with examples of companies that were wounded by the cutting edge of innovation. Creating an entirely new product costs much more than refining an existing one. Many of the most financially successful product releases have come from the modification of existing products. Companies that translate new concepts into scalable solutions win in the long run.
The solution? Innovate with improvements to existing products. This can most easily be accomplished by modifying packaging designs for differentiation.
How Maverick Packaging Can Help You Win with Package Design
There are three ways we can help:
- Differentiation and Performance Through Package Design Support. We have over 20 years of experience in solving technical challenges, especially with unique caps and closures. Our team is able to provide the critical technical expertise that you’ll need early in your design process.
- Forecast Savings and Supply Chain Impact. Purchasing and operations professionals are able to forecast savings and supply chain efficiencies with our help. Our team is able to provide estimates for the higher volume filling applications, program implementation timing and inventory management.
- Samples. Inevitably there will reach a point in the program’s development that samples will be required. Our team and capabilities enable us to respond to samples and short-runs.
Maverick Packaging is a full-service liquid packaging partner you can grow with! Package sizes from 5ml up to 1 gallon and run quantities from 500 to 5 million.