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1. You are required to describe the concept of above brands (both 1 & 2) Marks: 4
The concept of these brands is co-brands with each other like McDonalds is the co-brand of shell Pakistan and ufone is the co-brand with the RBS visa card. Co-branding also called brand partnership is when two companies form an alliance to work together, creating marketing synergy. In first example RBS visa card is the co-brand of ufone is one of largest cellular company in Pakistan and RBS compare to it is a smaller company but with the help of this co-branding they offer that if you buy the RBS visa card you can use it to get ufone services easily. In second example McDonalds is start their business in Pakistan in early 2000 but shell Pakistan is one of the largest oil provider in Pakistan with co-branding with this MacDonald’s can get significant market share.
2. What are the motives behind this concept? Marks: 3
The motive behind this concept is to work with other companies to combine resources and leverage individual core competencies, or they can use current resources within one company to promote multiple products at once. Like if they made a TV add of one company and show that this brand is the co-brand of other brand and if you purchase this brand you can also get benefits of other brands.
3. What is the significance of this concept? Marks: 3
In both examples these Companies engage in co-branding to leverage strong brand. It is becoming a popular business practice to strive for a positive association between different brands that can develop synergy. A well executed co-branding strategy can lead to win-win situation for both co-brand partners and can help in realizing unexplored markets or untapped opportunities Companies form co-branding alliance to fulfill following goals:
1. Expanding customer base
2. To make financial benefits.
3. Respond to the expressed and latent needs of customers
4. To strengthen its competitive position.
5. Introduce a new product with a strong image
6. Creating a new customer perceived value
7. To gain operational benefits
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