Have you ever thought about how your brand would look next to a brand you appreciate? If not, why? Today, partnership marketing is the only chance for businesses to survive in a hyper-competitive market!
For instance, joint products are generally considered the most innovative of all collaboration types. Imagine creating or even altering an existing collaborative product to provide additional value to the customer.
There are many ways out there to make such a partnership, and the vast number of joint product examples is the most obvious way to see the success of this kind of partnership! By partaking in a joint product partnership, it will require a distinct value proposition.
The unique selling proposition of the joint products must highlight these new features and their benefits. Branding is also important because it will ensure the both brand’s look and feel will be displayed, not only through the packaging but also via all advertising.
How many types of joint product partnerships are there?
- Powered By
This type of collaborative product is when a partner brand is supplying its services or software to benefit a new or existing product. Mobile phones powered by a technology provider such as Google or Microsoft are such examples.
- White Label
Many successful technologies also offer white label solutions. By this, brands are selling off their services to a brand partner. The partner brand then uses the technology under its name.
- Product Merger
When two brands decide to amalgamate their products this type of collaborative product is named merger. This kind of joint product partnership comes in various formats with full to partial mergers depending on the product line.
- Integration
When a partner wishes to integrate another brand into their own rather than using its technology, it is an integration that offers an additional service to the existing one.
As technology continues to improve, the opportunities for successful product collaborations will continue to grow. Here are some powerful joint product examples to inspire you in having your collaborative product!
LG x Prada
LG teamed up with Prada to tap into the growing high-end mobile phone market with their “Prada phone by LG”. This is an example of two successful companies coming together to produce a new unique offering for their customers.
Nike x Apple
Apple and Nike demonstrated one of the finest examples of Joint Product Partnerships. The Nike & iPod Sports Kit was stored in your shoe and measured the distance of your runs, sending the information directly to your iPod.
Microsoft x SAS
The venerable data analytics software company SAS partnered with Microsoft Azure to create a response system for natural disasters, including flooding from hurricanes.
SAS used Azure’s solution to modernize the town’s flood response, automating tasks that used to require a more manual process of dispatching public services vehicles and opening up new disaster solutions for other flood-prone areas, including nearby towns.
Rimowa x Dior
Rimowa has seen an opportunity to expand its brand and the way consumers perceive it. To that end, the company partnered with Dior Men’s Artistic Director Kim Jones on a capsule collection. The limited-edition collection included a hand case, a cross-body case, and spins on classic Rimowa cabin suitcases and trunks.
This could be you soon. Why not benefit from our partnership marketing platform to find your potential partner as of today! Registration is free! Sign up now and join our community to seal strategic partnerships!