A sports kit by Nike and Apple? Yes, this is how co-branding is being cashed in on by brands to generate sales in conjunction with making their brands popular. The need of the hour is adding value to products and attaining the level where consumers begin to recognise your brand, to survive the stiff competition.
A brand is a distinctive name or symbol, which aims to signify a product or a company and sets them apart from the other products available in the market. Brands, now-a-days are keen to step up investments in the emerging world markets and thus co-branding comes up as a potential option.
A reliable way to start generating ideas is by thinking about other types of companies that do a good job serving your target market. For instance, a restaurant could co-brand with a local packaged-foods maker to create a new menu item, an accounting firm could co-brand with an information-technology provider implying a new consulting offering.
Latest branding initiatives German brand Mustang, whose rich jeanswear heritage dates back to 1948 recently entered India via Shopper's Stop Ltd as top models including the likes of Nina Manuel, Pia Trivedi, Candice Pinto, Diandra Saores, Anchal Kumar, Sahil Shroff, Niketan Madhok, & Aryan Baruah among others showcased the authentic as well as trendy Mustang apparel at Shoppers Stop, Juhu, Mumbai.
The new range of trendy styles will be introduced every 4-6 weeks at Shoppers Stop. The authentic and chic collection of Mustang apparel is attractively priced with men Shirts/tees starting at Rs 599 and men bottom wear starting at Rs 1599. The women tops/ tees are priced at Rs 599 onwards and women bottom wear starting from Rs 1399.
Also speaking on the occasion, Mr Govind Shrikhande, Customer Care Associate & President & CEO, Shopper's Stop Ltd., said, "We are delighted to introduce Europe's First Denim brand Mustang to our international brand portfolio. Our customers can pamper their style statement with Mustang 's rich fashion heritage." On the similar lines, Samsonite entered into a co-branding initiative with the box-office hit 2010 - My Name is Khan. "The personality of Shah Rukh Khan, the actor in the film fits with Samsonite, so we have decided to go in for a co-branding exercise with the film," says Samsonite spokesperson. The $1.2-billion corporation has plans to open 20 exclusive Samsonite Business stores in high streets and business districts such as Nariman Point in Mumbai to target the traveler segment. "
We are expecting business travel to contribute 35 per cent of our turnover in the next three years. Right now, it is between 6 and 7 per cent of the turnover," adds the spokesperson. The conclusion Consumers develop affinity towards products and perceive them in a certain way as they start relating to them. These products, thus give way to brands which rule the market and co-branding undoubtedly has a huge role to play. The examples are umpteen.
We can refer to the footwear business and talk about Disney and the crocs or the ice cream aisle offering Breyer's and Hershey. The business is all about making the most of a brand to reach out audiences as you promote your brand! The cost saving factor also cannot be ignored, especially in such tough economic times that we are witnessing in the current times.