Co-branding is a synergistic marketing
arrangement between two or more brands. The idea is to act in
cooperation in a way that combines the strength of the brands. It is
also a way to differentiate products and services in a highly
competitive marketplace. Co-branding is an excellent strategy that can
give you a competitive edge because most luxury real estate marketing
professionals under utilize it.
Here is an example that reflects a
wonderful co-branding arrangement between Sephora (a LVMH* company)
specializing in selling beauty products) and Pantone, a 50-year-old
company known for its universal color systems in graphic design (web and
print), fabrics and more.
Sephora stores are like the cosmetic
section of a department store. They carry a multitude of known brands.
Now they also want to market their own Sephora branded products.
According to Pantone, Inc. they are “the
provider of color systems and leading technology for the selection and
accurate communication of color across a variety of industries. The
PANTONE® name is known worldwide as the standard language for color
communication from designer to manufacturer to retailer to customer”.
In our own work as luxury real estate
brand strategists and website designers we communicate via Pantone
colors with our clients, graphic designers, web designers and printers.
We give our clients a complete Pantone profile of their brand’s color
theme.
Every year Pantone announces the Color of the Year. For 2013, the color is Emerald Green (Pantone 17-5644).
The photo above shows an eye -popping
display in the Sephora window displaying makeup they created using
Pantone’s “Color of the Year”. Pantone becomes an endorser brand giving
additional credibility to Sephora’s new makeup line. Pantone benefits
by expanding their influence, their product line and their consulting
services into yet another industry: cosmetics.
Inside the store, in this picture, you
can see that Sephora has developed an eye-shadow trio, mascara and an
eye pencil in emerald green. Consumers can derive social currency
because they are wearing the color of the year.
Think about ways in which you can
co-brand with other non-competing businesses in your luxury real estate
marketing practice. It is a great way to stand out from the crowd.
*LVMH -Louis Vuitton, Moet, Hennessey
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