Exactly what it sounds like. Sometimes, companies spend so much time, money, and energy perfecting a product, they forget to give the same tender, loving care to the packaging for that product.
You'd be surprised how many people are swayed to buy something because of the really cool packaging it comes in. (Just watch the people in line ahead of you next time you're at the grocery store.) And this could apply to your products too.
Let's say that your company designs medical devices, and you're a bit ahead of the curve and already understand the importance of great packaging design. Even if you've just engineered the greatest medical device on the planet, you may have trouble designing the packaging.
That's why you need Red Olive. Packaging design is our product, so we put the same amount (albeit a different kind) of expertise, skill, and effort into your packaging as you do into your medical devices. Granted, yours will probably save more lives in the long run.