Brand Alliance And Co-Branding

Brand Alliance is defined as a marketing strategy signing the collaboration of two or more individual brands. It is a planned strategy with an agreement between multiple individual brands to combine their services for achieving fruitful results. The brands, products or other related assets are combined with a clear objective to raise their product awareness in the market. Therefore, the strategy of brand alliance plays a crucial role in the promotion of two or more businesses.

Definition of Brand Alliances

Brand alliance renders ample of benefits to all the individual brands allying ensuring a steep rise in their profits. Moreover, a brand alliance is not limited to international businesses only; it can be observed between two or many national or international brands to attract a maximum number of consumers. The practice of this strategy enhances the chances of earning additional profits from all the business allies. 

Classification of Brand Alliances 

3 Types of Brand Alliances 

• Co-Brands: It is a technique of endorsing the brand name of two or more brands on one specific product. The prime goal of this technique is to advertise excellent work and deliver high-value products to consumers. 

• Brand Licences: It is an agreement between two brands allowing each other to use their brand names in return of a licensing fee. The first company permits another brand to use its brand name on the products and services they launch in the market. Thus, permission to use the brand name is allowed with a promise to return in the form of licensing fee. 

• Cross Marketing: It is a collective or agreement between two brands to promote each other's products and services. The concept of cross-marketing is similar to a trade deal arrangement where two brands work for the benefit of each other. 

How Do Brand Alliances Work? 

Brand Alliances works on the concept of combining two or more brands to achieve mutual profits in their respective businesses. It involves the engagement of two or more brands working collectively to benefit each other mutually. To do so successfully, these brands follow various methods allowing each other to use their brand names to promote their services. Moreover, brand alliances influence the reaction of the consumers towards their partner's brands. This is one of the most successful methods used by marketers to promote their goods on a large scale. Therefore, the concept of brand alliances affects different brands in diverse ways depending on the variant consumer reactions. 

Successful Examples of Brand Alliance 

Example 1: Let's take an example of two biggest giants in their respective industries — the brand alliance of BMW, a luxury car giant with Louis Vuitton, a luxury retail giant. The brand alliance of the two came into knowledge of the consumers when BMW launched its unique sports car, BMW i8. The launch of this edition highlighted the partnership between the two brands as BMW launched i8 with exclusively designed interiors. It was designed by Louis Vuitton and crafted a 4 piece set of suitcases and bags that enhanced the car's uniqueness. All the designs prepared by Louis Vuitton were seamless and a perfect fit into the car's rear parcel shelf. Moreover, the bags were designed matching the interiors of the vehicle leading to high appreciation among the consumers. 

Example 2: Another example can be seen as an alliance between two retail giants namely, Alexander Wang and H&M. Both of these giants are among the leading brands in the business of apparels and high-end shoes. Both the brands came into an alliance where Alexander Wang specifically designed shoes catering to the young generation. The shoes designed by Alexander Wang were showcased at the line of stores of H&M offering trendy apparels, shoes, and accessories. Therefore, an alliance like this was positively appreciated by the consumers contributing to the profits of both brands. 

Difference Between Co-Branding and Brand Alliance 

Co-Branding can be defined as the type of marketing strategy engaging two or more brand names for the promotion of products. It is imperative for this type of strategic alliance to participate in at least two brands in the promotion of their services. The purpose of co-branding is to combine the market strength and increase consumer engagement by promoting their products among the consumers. Unlike, brand alliance, the primary objective of co-branding is to endorse the brand name of multiple brands on specific products. 

On the other hand, the prime goal of a Brand Alliance is to combine multiple brands manage for the mutual benefit of those businesses. It is the collaboration of two or more individual brands as per a planned strategy to promote their businesses. The chief concern of brand alliance is to benefit all the individual brands comprising the coalition. Therefore, the primary difference between co-branding and brand alliance is the nature of these branding techniques. 

Guide to Getting Started with Brand Alliances

3 Key Steps to Get Started with Brand Alliances 

• Recognize your brand: To invest in brand alliances, it is crucial for you to critically analyze numerous brands before you select the brand of your choice. So, to successfully promote your product, you need to tie up with a brand which is popular among the consumers. 

• Plan a business strategy: After you have recognized your brand, you need to plan an effective strategy to ensure the promotion of your products among the consumers. 

• Review and consumer feedback: The most vital factor before you get into brand alliances is to understand the demand of the consumers. To do so effectively, you need to go through the reviews and understand consumer feedback for the promotion of their products. 

Role of Brand Concept Consistency 

Brand consistency plays a crucial role in the market in formulating the highest and integrated levels of brand alliances. To achieve this, the brands having maximum market value acts as one of the critical elements ensuring brand success. The concept of brand consistency involves marketing and branding at higher levels highlighting every aspect of marketing. It includes advertisement, corporate communications, and every messaging statement including communication getting delivered to the target audience. 

Therefore, brand consistency is the key to gain consumers trust for the brand they rely on to fulfill their requirements. This acts as a catalyst developing an emotional connection with the consumer and simultaneously drawing his interest towards the product. Also, the concept of brand consistency adds to the factor of trust and reliability towards the brand promoting its services.  

Sample Question And Solution Of Brand Alliance

Events Planning and Management: Brand Manage

Question:

Summarise Virgin Atlantic’s background and history, turnover, management structure, current corporate goals and targets, and markets. Your summary should use material from the Virgin Atlantic website, and other relevant online sources.

Develop a SWOT analysis to identify Virgin Atlantic’s current situation in relation to its main competitors. You should identify a minimum of three strengths, weaknesses, opportunities and threats. Your model should be developed referencing core marketing texts with content developed from articles and web sites.

Describe the marketing mix and its role in marketing, referencing two relevant theories and concepts.

Explain how Virgin Atlantic use the different elements of the marketing mix to promote their brand. You should apply at least one other theoretical model learnt during your lectures. Your explanation should be illustrated with specific examples of Virgin Atlantic’s events, promotional activities and target audiences .

Create a diagram explaining how special events are defined and classified. Your diagram should draw upon relevant core texts.

Classify at least four Virgin Atlantic events using the model you have provided.
Explain the impact of Virgin Atlantic’s marketing and events strategy.

Answer:

Background/ Introduction

The Virgin Atlantic (VA) Airways was founded in 1984 by the Richard Branson's Group and has been into operations since then. Virgin has grown to become the second largest carrier in Britain, and it operates in the world's major cities. The Airline enjoys consumer loyalty and recognition globally because of its innovativeness, world-class customer services and on time deliveries (Virgin Atlantic, 2015, p. 2). The management focusses on customer driven services which emphasize on innovation, fun, quality and giving customers services worth their money. From the beginning, Richard Branson's aim was…. "To provide the highest quality innovative service at excellent value for money for all classes of air travellers (Virgin Atlantic, 2015, p. 4)"...Read More>>

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Most Popular Faqs Searched By Students:

 

Q. What Is Strategic Brand Alliances?

Ans: The strategic brand alliance is the act of short-term tactical partnership among companies/organisations. The objective is to increase awareness among consumers’ minds.  Promoting sales, provide urgent financial resources, strategic tool for brand growth and development, and marketing success is also part of strategic brand alliances.
A brand alliance usually happens among two known, reputed, and nationally acclaimed brands. There is a significant benefit to both parties.

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Q. What type of conclusion will include in Brand Alliances topics?

Ans: Like all other assignments, the conclusion of any brand alliance assignment will focus on disusing the outcomes.
     While working on brand alliances topics, students cannot introduce any new aspects.
     Repetitions of ideas shared in the introductory part are also not allowed.
     Students need to add recommendations and future scope of research in the conclusion as well.