How to Set Up Co-Marketing and Increase Customer Purchase Through Brand Partnerships

We live in an era of globalisation that has profoundly marked the global economy and brought both positive and negative changes. Its expansion has enabled many companies to operate more easily, but has increased competition, which has meant seeking new solutions. In the empirical part, we examine company X, which operates in the hospitality sector, and company Petrol, which have premises at the same location, and we investigate their possibilities for partnership collaboration and thus the possibilities for increasing customer purchases.

Problem

We live in an era of globalisation that has profoundly marked the global economy and brought both positive and negative changes. Its expansion has enabled many companies to operate more easily, but has increased competition, which has meant seeking new solutions. Many companies, in their desire for market power, have thus begun to connect and form alliances.

Some companies have embarked on partnership brand collaboration, known as co-branding. This involves the cooperation of at least two companies that together create a joint product or service. Both companies invest their knowledge and resources into the final product and share the costs incurred in the creation process.

Co-branding brings numerous advantages to the participating companies; one of them is certainly the expansion of the market and potential customers, as well as faster brand penetration. Through co-branding, companies can increase brand recognition and reputation, become more competitive and increase capital. However, partnership collaboration can also be unsuccessful and brings numerous risks and disadvantages.

In the diploma thesis, we first examine the concept of strategic alliance and the formation of marketing alliances, and then define co-branding as partnership brand collaboration in more detail. We define the brand and describe the fundamental advantages and disadvantages of co-branding. We then present the main reasons for entering into co-branding and what is important when choosing a suitable partner.

We also examine why talent management within a particular organisation is important and how this can affect the collaboration of two brands. We also look at the fundamental forms and strategies of co-branding and how consumers respond to it.

Solution and Method

In the empirical part, we examine company X, which operates in the hospitality sector, and company Petrol, which have premises at the same location, and we investigate their possibilities for partnership collaboration and thus the possibilities for increasing customer purchases. We examine how the customers of both companies recognise their operations and possibilities for collaboration, and how consumers would respond to certain collaboration possibilities. Similarly, we investigate what the employees of company X think about the possibilities for collaboration between the mentioned companies.

Through online analysis, we also examined whether there are examples in which company Petrol collaborates in co-branding with other well-known or less well-known brands and which forms of collaboration it chooses.