Global Gadgets Imports and Cooperative Marketing
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The president of GGI asks you about cooperative marketing. Used effectively, it can help companies to increase sales and boost brand awareness and at the same time reduce marketing cost. Is cooperative marketing appropriate for GGI? Help the company president understand how it works, its benefits and its applicability to GGI by reading the following articles:
What is the value such relationships?
Besides advertising, what are other creative ways companies can engage in cooperative marketing?
How should a company decide with whom to partner in joint marketing efforts?
What are some of the effective cooperative marketing ways that GGI could use in this project?
Please list references.
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Solution Summary
This posting discusses the cooperative marketing of Global Gadgets Imports. It also discusses the value of such relationships for GGI.
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The president of GGI asks you about cooperative marketing. Used effectively, it can help companies to increase sales and boost brand awareness and at the same time reduce marketing cost. Is cooperative marketing appropriate for GGI?
Yes, cooperative marketing is appropriate for GGI. The reason is that cooperative marketing will help reduce cost of marketing. For instance, if any of the stores that sell GGI products displays GGI labels and advertising banners prominently, then there is additional advertising for GGI at very little extra cost. Moreover, if GGI engages in cooperative marketing it will be able to gain from the credibility of the company with which it partners. For example if GGI partners with Costco then GGI will gain from the reputation that Costco enjoys in the market.
What is the value such relationships?
There is tremendous value in such relationships. Consider the case where a reputed store chain like Target displays the logo of GGI outside each of its store and sells some of the items that GGI produces. The result will be that GGI will have a large brand recognition at very less extra cost. Moreover, it will be able to increase its sales through Target. Such a relationship is also beneficial to Target because it helps the chain avail itself of the high class of GGI products and improve its revenues.
Again if ...
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