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The main advantages associated with implementation of co-branding are the possibility of jointly communicating brand image and reputation in a global market where consumers tend to have similar preferences and coherent lifestyles. The strategic cooperatio

Extracts from this document...

Introduction

Contents Abstract...........................................................................2 Introduction......................................................................2 Literature Review...............................................................3 Methodology.....................................................................7 Methods Findings Observation Analysis...........................................................................17 Conclusions......................................................................22 Recommendations...............................................................23 Reference.........................................................................29 Index...............................................................................34 Questionnaire Process log Dissertation Group 3 Student ID No.590053276 Into No.00500995 Abstract Co-branding can be implemented by establishing an agreement of strategic competition that allows companies to compete and cooperate simultaneously in order to obtain competitive advantages. With this type of agreement, brands enter markets sharing loyal customers they would be unlikely to reach individually. The main advantages associated with implementation of co-branding are the possibility of jointly communicating brand image and reputation in a global market where consumers tend to have similar preferences and coherent lifestyles. The strategic cooperation between two global brands, Apple and Nike, through development of the Nike+iPod Sport Kit product, serves as a benchmark to illustrate the benefits associated with implementation of cooperation agreements which provided results that confirm global brands obtain benefits, albeit not in equal measure, in terms of adding value to the brand image at a world level. Introduction Markets are more and more competitive, and for this reason strategic cooperation between companies emerges as a means for strategic partners to obtain benefits. In order to compete is an increasingly fundamental marketing strategy to face more efficiently the challenge of implementing a brand with global characteristics. The brand is an intangible asset that has taken on importance in strategic terms, for both public and private companies. Dissertation Group 3 Student ID No.590053276 Into No.00500995 The case study referring to the global brands of Apple and Nike, which are among the 40 biggest world brands2, is justified by the fact of providing analysis of the benefits arising from establishing an alliance of strategic cooperation of co-branding between two global brands, namely through added benefits for the purpose of giving increased value to brand image. This study contributes to the literature on strategic coopetition, providing greater understanding of the strategy of co-branding between global brands, as well as of the mechanisms for sharing the benefits obtained by global brands, in terms of brand image value. ...read more.

Middle

Because of the target market of these two companies is young people segment, that both of Nike and Apple have implemented successful strategy, which they have attracted their main customers attentions and acquired higher market share than their competitors. Therefore, in this case, Nike and Apple have higher brand preference than the rivals. Dissertation Group 3 Student ID No.590053276 Into No.00500995 Brand awareness As we can see from table 3, the Internet plays an important role in acquiring the latest information, which nearly a half of the students agreed with that. Because of the Internet is the most common and easiest method to know the latest information, even buy the products. Therefore, more and more companies set up their own official websites to provide the online service the customers. In addition, in this case, which Nike launched the products which can put Apple's chip inside, that more than 50% of students said they know the information and almost a quarter of them have the products already. The fact showed that the products of Nike and Apple have high brand awareness. Brand loyalty Having large volume of sales temporarily is not enough for running a long-term business. Therefore, how to build up brand loyalty is another crucial issue to discuss. In order to attract the customers not only come back constantly in the future but also have higher loyalty to the brand than the competitors. Therefore, the company should provide the customers outstanding tangible and intangible services, such as, the products which can satisfy the consumers' needs and make them feel they are respected. In addition, there is a large proportion of respondents have mentioned that they will consume any one of Nike's or Apple's products in the future, which means Nike and Apple are successful in this section. Dissertation Group 3 Student ID No.590053276 Into No.00500995 The benefits of co-branding According to the results of the questionnaires, the answers can be classified into the following two main sections, and the orders are ranked by the numbers of the respondents thought adequately (see table 6). ...read more.

Conclusion

Will you purchase any Apple's product in the future? ?Yes (skip question 11) ?No (skip question 10) 10. Why you will buy any Apple's product in the future? ?good function ?fashionable ?reasonable price ?good quality ?other__________ 11. Why you won't buy any Apple's product in the future? ?poor function ?not fashionable ?unreasonable price ?poor quality ?other__________ 12. How do you think about the following statement? In 2007,Nike cooperated with Apple and it called Nike+. You can grab your iPod nano, iPod touch or iPhone connect the sensor which you have to put it in the Nike+ shoe. So that, the sensor can record how far you run, how long you take and how many calories you consume. That can be your personal trainer. ?I had them already. ?Fantastic. I would love to try. ?Really? I don't know that. ?other_________________________ Dissertation Group 3 Student ID No.590053276 Into No.00500995 13. What kind of benefits will happen to the co-branding companies? ? exploring new consumers ? decreasing the cost ? sharing the risk ? much competitive than competitors _____________________________________________________________________ Thanks for your completing. Dissertation Group 3 Student ID No.590053276 Into No.00500995 Process log Week commencing 08/02/10 In this week, I was searching the topic which I am interested. During the deciding process I have discussed with the teachers. Finally, co-branding issue became my final decision as the topic of the dissertation. 15/02/10 During this week, I was figuring out how to write the proposal. Even this part is formative, which the proposal could be the structure to refer in the future. Hand in project proposal 22/02/10 After submitted the project proposal, literature review was the next section have to work on. Before start writing literature review, I have to find a lot of helpful, academic and relative references, such as journals, magazines, the internet and books. 01/03/10 During the week, I was reading the references, which I have found last week. There were a lot of marketing books and journals, in order to put the helpful references in the content that I have to find the topics which were relative toward co-branding. ...read more.

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