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How Does Co-Branding Work to Improve Sales

8/30/2015

Corporate challenge: A company enters a new market space with a better quality product at a lower price. The market is saturated, and the new product is not selling, despite its higher quality and lower price.

Ironbound solution: A simple way to increase customers and grow popularity for a product is to co-brand with a successful and well-known brand.

Ironbound action: Co-branding can be a form of brand extension that grows market share for all brands involved (as shown by Reese's and Oreo). The optimal co-brand collaboration should be with a brand that will get your product into the hands of your target customers who are most likely to repurchase the product and become loyal to your brand. Most successful companies are open and willing to co-brand, to keep their own product relevant, dynamic, and trendy.

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Build Dedicated Teams

8/10/2015

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Image: http://blog.netflix.com

Corporate Challenge: Finding and retaining talent to reduce turnover and maintain a teamwork environment.

Ironbound Strategy: Create employee value. Get to know your team members and understand the benefits they value most.

Ironbound Action: Netflix found that people perform better at work when they’re not worrying about home. They recently announced unlimited leave for new moms and dads in the first year after a child’s birth or adoption with full pay. Creating value for parents during this change in their life helps reduce stress and strengthens dedication to the Netflix brand.

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How Does Co-Branding Work to Improve Sales

Build Dedicated Teams

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