Smell or taste?

The biggest challenge in the cosmetics industry is the need for innovative packaging techniques that can be differentiated from the competition. Has anyone thought of the effect if the vendors stop spending money on packaging and concentrate on the quality? Personally, when I buy goods I look into its quality, reliability, and then cost-benefit. I hardly ever care if that product has an attractive packaging. However, it seems the opposite in the ‘pink’ cosmetic industry. The notion of quality is more tied with the innovative, attractive eye-catching packaging of the product than the actual quality of the product. That means the quality evaluation and perception towards the product is directly influenced by sleek packaging, shape and color. The brand name also plays a big role as in every other arena of products. But can you imagine the cost of the cosmetic products if the manufacturers stop spending and researching on attractive packaging and aesthetics of the products. I mean what will be the effect if one of the big companies like Estee Lauder Companies, Mary Kay, Procter & Gamble Cosmetics or Revlon introduce cosmetic products in two modes one which has all sleekness, color and shape attributes (expensive) and the other in a simple container and a ordinary package (half the price of the first). This will serve both kinds of the customers. Those influenced by the ‘smell’ and the others influenced by the ‘taste’. I was just wondering that could this be a workable business model. Will such a marketing strategy work where the cost of the product is half of the “attractive” product with same quality and “brand”?