Tuesday 2 October 2012

Benefits of Co- Branding

Co branding is the utilization of two or more brands to name a new product. The ingredient brands help each other to achieve their aims. The overall synchronization between the brand pair and the new product has to be kept in mind.

Here are the 7 Benefits of Co-Branding:

1: Less expense to market a new product

If you decide to go with co-branding then I am telling you right now that it results to less expenditure. We all have an idea as to how much it will cost to market a new product right? And of course we all know that if you are alone and you market a new product then the expense will be outrageously high.





However, with co- branding you need not worry about that because it results in very less expenses because of the already existing brand image of the other business in the market.

2: Boost the company’s brand image while increasing profits

When you start with co-branding you are able to reach out to more and new prospects with your new products and services. Introducing new products or services creates a buzz and stirs curiosity amongst your target market and this result to an increase in brand value and at the same time it boosts profits.

3: New markets

Co-branding enables you to reach people or areas that were out of your reach before. When you were operating the business by yourself you have limited access, but when you start with co-branding, you are able to tap into customers which you were not able to reach before. This results in bringing new customers to your online business.

4: The risks involved would be less

If ever you just started your online business then the risks of introducing a new product to the market is higher. It will take some time before you are able to tap into your market, usage and implementation of various strategies is needed. So, it is better for new online businesses to tie up with an established company which have a brand value in the market and this result in reaching the target market easily.


5: Improvement of products with the use of modern technology
With co-branding, you get to share with the other company’s technology which will assist you to produce better products. This will yield in giving quality products that can be offered at a fair price with advanced features which will of course attract new and existing customers.

6: Introduction of your products or service to the other side
The best example for this is the promotion of Intel. Years ago Intel came up with the slogan “Intel Inside,” this made consumers realize what was inside their IBM and Compaq computers. Because of this around 300 computer manufacturers started co-branding with Intel.

7: Benefits from the other company’s customer base

Co-branding can bring in the benefits to a company from its partner’s loyal customers. Back in 1984, Nike got together with Michael Jordan the world-renowned NBA player with the basis that all Jordan fans would feel affectionate and loyal towards Nike and choose it over its competitors. Why? Because, well their idol is with Nike, so they feel the need that they should also be loyal to Nike.



                                                               


















Maani Sharma [ MBA Aviation ]
Manager Aviation NEWS Project

www.All-Aviation-NEWS.in

www.AeroSoftCorp.com

www.AeroSoft.in

www.AeroSoft.co.in

www.AeroSoftseo.com

On-Line Assistance:

Gtok:                       maani.aerosoft@gmail.com

Y!Messenger:          maani.aerosoft@yahoo.com

Rediff:                     maani.aerosoft@rediffmail.com

MSN:                     maani.aerosoft@hotmail.com

No comments:

Post a Comment