How can companies combine products to create strong co-brands and ingredient brands
How can companies combine products to create strong co brands
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Transcript of How can companies combine products to create strong co brands
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HOW CAN COMPANIES COMBINE PRODUCTS TO CREATE STRONG CO-BRANDS OR INGREDIENT BRANDS
SACHET JAIN IIT DELHI
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CO-BRANDING
• TWO OR MORE WELL KNOWN BRANDS COMBINE INTO A JOINT PRODUCT OR MARKETED TOGETHER IN SOME FASHION.
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TYPES
• Same company co-branding• Joint company co-branding• Multiple-sponsor-co-branding• Retail co-branding
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ADVANTAGES
• Product convincingly positioned by virtue of multiple brands• Opening additional opportunities for new consumers
and channels• Reduce the cost of product introduction• Means to learn about consumers and how other
companies approach them
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Disadvantages
Risk and lack of control in becoming aligned with another brand in the minds of the consumers. If other brands has too many co-brands. It may have lack of focus on existing brands.
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INGREDIENT BRANDING
Special case of co-branding, creating brand equity for materials, components, or parts that are necessarily contained within other branded products
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Created by Sachet Jain, IIT Delhi, during an internship by Prof. Sameer Mathur, IIM Lucknow.
www.IIMInternship.com