Co-Branding
Co - branding ( also co-branding or co-branding ) is the collaboration of established brands to better market their products. This involves a mutual image transfer quality promise. A typical use case are credit cards where the very limited number of suppliers made possible by collaboration with " Affinity partners," a variety of cards.
Conceptual framing
Very broad one could understand any common brand policy, the term " co-branding ". It makes sense, however, is to summarize the definition of a co-branding close:
In particular, the following features must be met in order for a co-branding:
- A longer-term connection of at least two images,
- The brands involved are both previously as independent even after co-branding insulated brands,
- A common branding, that is, this brand policy option is intended by all sides,
- A joint service or a joint product,
- A perceptible outward cooperation.
In contrast to product placement, so the pure placement of brands or products to monetary payments, or the contrary, the license acquisition of brands, ie the use of well-known brands for advertising effects on payment of a license fee must stand behind a common longer-term performance of the co-branding. Also for cross-promotional co-branding is to be deferred, since only marks are mutually promoted, but also lacks the long- term joint performance.
Conceptual success factors of co-branding
The success factors of co-branding, in particular:
- Brand Fit: The participating brands fit together.
- Product Fit: The new power is similar to the previous performance; customers are familiar with the involved brands.
- Complementarity: The brands involved are complementary.
- Brand Amplifier: Both brands have sufficient brand knowledge.
Possibilities of co-branding in the music market
Another possibility is a cross-sector co-branding between an artist and a brand, and a record company and a brand, which the artist is clearly the stronger "brand".
For the co-branding between artists and manufacturers of branded products, there are numerous examples. Interestingly, contact seller music near services or products, such as Manufacturer of instruments, studio equipment and accessories, as co- branding partners less in evidence. One of the best known examples of a co-branding between artists and brand owners make the cooperation between Volkswagen AG and Genesis, Pink Floyd, Bon Jovi and the Rolling Stones dar. These alliances VW stepped not only as a sponsor of the tours of the respective bands on but also presented in terms of units limited edition models of various Golf models. These were equipped with elaborate safety and environmental technology, bearing the logo of the band on the hood, the rear of the vehicle and the rear side panels as well as in the interior, for example, on the radio, the dashboard and other interior equipment. The bands and their designers were actively involved in the designs and the design of these models. Here, in the sense of a " real" co-branding new models were already established brands. These collaborations strengthened the awareness of the individual brands ( the artist and the golf brand ) sustainable.
Another example is the cooperation of Pepsi- Cola dar. with various artists PepsiCo tried with large-scale sponsorship activities as well as a Star doses collection, including with Britney Spears and Michael Jackson, to reach their target audience. The idea of the special Star doses reached the main rival Coca -Cola later and went co-branding alliances, including with Bon Jovi, Sting, Peter Maffay, Chris Rea and Scorpions,.
Not recorded music brand by consumers than is strong enough perceived - The co-branding between record companies and brand owners will in practice a smaller application because - as already mentioned above. Above all, the major companies with their wide musical spectrum are not perceived as a brand. In Germany rather smaller independent label will have the chance to be noticed with its own profile ( something the 3p label, which represents an independent direction and occurs as such in the media in appearance). An example of a successful co-branding between a music recording company and a brand was the cooperation between BMG (now Sony BMG ) and the VISA Corp.. in the United States. Here is a BMG - VISA card released. Cardholders were purchases made at BMG Music Service, depending on the sales points, which then for CDs, videos, concert tickets for the card, etc. can be redeemed.
Prospects for personal brand branding
Co -branding does not necessarily always lead to win-win situations, reasons for this could be the mismatch between the marks in question or the dominance of one of the components. A key to a successful co-branding is therefore the identification of the right partner. Important are:
- Personality / Charisma / Image
- Reputation and popularity among the target group
- Successes and achievements
- Judging by the target group
- Willingness to cooperate
The criterion of cooperation is extremely important because many artists and other celebrities fight back, to be used by the industry as " flagship". A co- branded should be scheduled only if the appropriate product manager about the interests of artists realize. However, if both partners are willing to cooperate, co-branding is a powerful marketing tool with many benefits for all partners involved.