Nowadays, to enter a new market or to gain awareness for products is complicated. The markets are crowded with competitors and the consumer can easily decide between different options of a product. It is indispensable to stand out from the crowd and to raise the consumers awareness for the own products to be successful.
Most of the time, the brand is the core of a company. It reflects the image of the organisation and connects it to the products. As hard as establishing a brand is, as easy it is to destroy it with a critical headline in newspapers, selling defective products or similar. Ironically, it is even harder to regain the brand image and regaining the trust of the customers afterwards as cases like Abercrombie & Fitch and Volkswagen showed.
In some cases even a regeneration is almost impossible. Therefore, there are different strategies a company can implement to simplify the process of branding. Co-Branding is a strategy where companies work and sell their products together without giving up their own brands. Next to advantages like gaining attention of a different market segments there are also risks and obstacles the company has to face by implying this strategy. For this reason it is important to analyze which company is able to use the strategy and which requirements are needed to create a successful cooperation for the participating parties.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Brands and co-branding
- Brands
- Co-Branding
- Chances and risks of Co-Branding
- Chances of Co-Branding
- Risks of Co-Branding
- Nike+iPod - A successful case of co-branding?
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This seminar paper aims to provide an in-depth analysis of co-branding as a strategic marketing tool. It explores the advantages and disadvantages of this approach, highlighting the potential for brand synergy and the risks involved. The paper uses the case study of Nike+iPod to illustrate the practical implications of co-branding.
- The importance of brand strategy in competitive markets
- The role of co-branding in brand building and market expansion
- The benefits and drawbacks of co-branding strategies
- The critical factors for successful co-branding partnerships
- The application of co-branding concepts in real-world scenarios
Zusammenfassung der Kapitel (Chapter Summaries)
The introduction sets the stage by emphasizing the challenges of gaining market share and brand recognition in today's competitive environment. The paper underscores the crucial role of a strong brand in achieving success and highlights the risks associated with damaging a brand's reputation.
Chapter 2 defines the concept of "brand" and its significance in company strategy. It delves into the various interpretations of the term "brand" and examines its key characteristics. The chapter also discusses the trade-offs between branded and generic products and the importance of maintaining brand consistency for long-term success.
Chapter 3 explores the opportunities and pitfalls of co-branding strategies. It examines the benefits of leveraging combined brand power to reach new market segments and increase awareness. Conversely, the chapter analyzes the risks associated with co-branding, such as potential brand dilution and the challenges of managing complex partnerships.
Chapter 4 delves into the Nike+iPod case study to provide practical insights into the effectiveness of co-branding. It examines the specific strategies employed by Nike and Apple, evaluating the success of the partnership in terms of brand synergy and market impact.
Schlüsselwörter (Keywords)
Co-branding, brand strategy, brand building, market entry, brand synergy, brand dilution, partnership management, case study, Nike, Apple, iPod.
- Quote paper
- Ann-Sophie Theuring (Author), 2017, Co-Branding. Strategy to strengthen brands, Munich, GRIN Verlag, https://www.grin.com/document/412529
