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Cooperative marketing is considered as one of the most viable marketing techniques and it is applied by most of the organizations throughout the world. This paper analyzes the scenario of cooperative marketing and how it benefits GGI. In the similar manner the value of these relationships are discussed and certain other aspects that are also related to cooperative marketing are discussed in detail.
Cooperative marketing is actually termed as a distribution system and it is implied by many organizations throughout the world. The marketing system that is based on cooperative marketing revolves around the scenario of people working together in order to gain a collaborative goal. Cooperative marketing as it is implied by the name is based on helping others in both the short and the long run. The cooperative marketing efforts are members owned and they are member controlled and ultimately they actually generate member-benefit (Winer, 2006). If two individuals who are neighbors are selling certain products along the road side then this scenario is considered as cooperative marketing. There are wide and varied benefits of cooperative marketing like economies of scale, bargaining power, preserving the target markets and access to professional expertise. In the similar manner there are certain challenges that are associated with cooperative marketing and these challenges are the partners or in certain scenarios the organizations agreeing on one scenario, sharing of information and development of trust and the costs associated with this marketing efforts. Furthermore the lack of trust that is associated with the members can also be considered as one of the biggest challenges of cooperative marketing. In the branding terminology it is also considered as co branding strategies.
The scenario of cooperative marketing can also be evaluated by the example of Visa and Marriott offer. The holders of Visa card can experience fabulous discounts at Marriot hotels and for this campaign certain valuable coupons are offered to the loyal customers of Visa card. However, it can be analyzed that both the organizations benefited from this approach and this is actually the power of cooperative marketing (VISA, 2003). Another example of cooperative marketing is the co op plans of small businesses that actually link business owners and the governments. In this scenario the local entrepreneurs were offered to sell their products to the state and the federal government. In the similar manner it can be said that cooperative marketing played its part and it actually benefited both the parties (NFIB, 2009).
In the scenario of GGI cooperative marketing can be very beneficial and the organization can easily coordinate with suppliers and other players in the market when they are entering into the housewares section. The collaboration with the suppliers can be extremely beneficial for GGI because in this manner both the parties can share their risks and profits at the same time and in this way it can be beneficial for the organization in both the short and the long run. Furthermore, they can hire marketing or a branding organization for the repackaging of the brand and this collaboration would give a new life to the brand. In the similar manner for the additional stores they can hire a logistics company to deal with these matters.
Therefore, it can be said that cooperative marketing is quite effective for different organizations if the basic idea of cooperative marketing is implemented in a proper manner. The value of these relationships is quite effective but the entire value of the program revolves around the objective of the program and the relationship revolves around the scenario that how well both the organizations are aligned with each other. Besides advertising there are certain scenarios like socially cooperative marketing that can be very beneficial for social and general organizations. However, in cooperative marketing it is a difficult task to identify which organization is favorable for a certain organization. That is the reason why the decision makers of the organizations stress a lot on the alignment of objective and mission and vision of both the organizations. As far as GGI is concerned then it can be said that GGI can align with different organizations in order to fulfill its objectives. The best match for GGI is the organizations that produce house wares and it might be the suppliers of the GGI. In this co-marketing efforts they can market together and even collaborate in certain other scenarios.
Thus, in a nutshell it can be said that cooperative marketing can be considered as a viable approach for many organizations but the objective and certain other factors must be aligned with the other organization. In the similar manner it can be clearly said by understanding the scenario of GGI that cooperative marketing is a viable approach for this organization and would definitely produce effective results for them in both the short and the long run.
References
NFIB. (2009). Co-op Purchasing Plan Links Small Business owners and Local Governments . Web.
VISA. (2003). VISA and Marriot offer the visa escape! Summer Travel Promotion. 2009. Web.
Winer, R. (2006). Marketing Management. Prentice Hall.
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