Setting Product Strategy: How Companies Can Combine Products for Strong Co-Brands
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This document discusses product strategy and how companies can combine products through co-branding or ingredient branding. It defines co-branding as combining different products into a joint product or marketing them together. There are three types of co-branding: same company co-branding, joint venture co-branding, and retail co-branding. Ingredient branding is creating brand equity for products contained within other branded products. Successful co-branding and ingredient branding require ensuring a logical fit between brands, adopting due diligence, and making the customer understand the value of the products or ingredients.
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Setting Product Strategy: How Companies Can Combine Products for Strong Co-Brands
- 1. Setting Product Strategy How can companies combine products to create strong co-brands or ingredient brands? Presentation by Divyasree P K IIT Madras
- 2. Co-Branding N. Process by which different products are combined together into a joint product or marketed together in a joint fashion
- 3. Types Same company co-branding Joint venture co-branding Retail co-brandingRetail co-branding
- 4. Same company co-branding Two or more products from the same company are promoted togethercompany are promoted together
- 5. Same company co-branding Aquaguard Euroclean promoted together by Eureka Forbes
- 6. Same company co-branding Promoted by Oriental Cuisines Private Limited
- 7. Joint venture co-branding Two or more products from different companies are promoted togethercompanies are promoted together
- 8. 2 in 1 transit credit cards Citi bank credit card Joint venture co-branding DMRC Citi bank credit card Metro transit card Additional customers Increased reach
- 9. Retail co-branding Two retail establishments use same location to optimize space and profitslocation to optimize space and profits Pizza Hut & KFC
- 10. co-branding?
- 11. Easy positioning Visibility due to multiple brands&
- 12. Existing market New channels PLUS New channels INCREASEDSALES
- 13. Reduced cost of product introduction Speeds up the adoption process!
- 14. MOSTimportantly, Provides opportunity to understand how other brands approach the customerother brands approach the customer
- 15. co-branding?
- 17. 1 Ensure separate brand equity exists
- 18. 2 Ensure a logical fit between the brands
- 19. CO-BRANDS.. ..must be complementary and unique.. ..to ensure favorable perception by customers
- 20. 3 Adopt due diligence before entering co-branding ventures
- 22. INGREDIENT BrandingBranding N. Process which creates brand equity for products that are contained within other branded products
- 23. Carl Zeiss lens in Sony digital camera
- 24. Success story of Intel Ingredient brand became the preliminary cutoff for the selection of host product!!
- 26. 1 Ingredient is integral to the success of host
- 27. 2 Ingredient offers tangible quality differentiation
- 28. 3 Host must display a visible marker of the ingredient
- 29. 4 Concerted efforts to make the customer understand the value of the ingredient