Cooperative Marketing of Global gadgets imports Research Paper

Cooperative Marketing of Global gadgets imports - Research Paper Example This research will begin with the definition of cooperative marketing as an advertising and promotional program whereby manufacturers or a distributor supports the marketing efforts of both businesses. It can also be used by multiple businesses looking to pool their resources to avoid being overburdened with costs for advertising and promotion. In addition, it is collaborative effort of two or more companies that come and work together in advertising and promotional efforts in order to reach a common goal. Cooperative marketing is ideal for Global gadgets imports. There are great values that come along with cooperative marketing. One of the great values that come along cooperative advertisement is that the cost of advertising will be greatly reduced. This happens when the partnering businesses come together and contribute towards the advertising and promotion of the product. This only happens when the businesses have the same interest. The cost will be cheaper in the end and in the s hort run for both businesses and the individual offices. The other great value that the businesses will derive is the benefit from a larger discount commonly known as trade discount. Another value of cooperative advertising is that the businesses will benefit from the risks involved. This will happen when businesses pool the risks and share them. This can happen when the distributing company tries to explain to its retailors the cause of a particular hitch resulting from the manufacturer. (West, 2008). There are a number of challenges that global gadgets imports needs to address when approaching a cooperative marketing situation. Cooperative marketing has guidelines that both companies must have similar targets. They should therefore, have same ideas, promotions, and cash in order to partner. The marketing intention should serve both companies accurately and effectively, since both brands wants to be conducting this effort. The element of trust is very essential in cooperative marke ting and has to be taken into consideration. Therefore, information sharing must be respected. Global gadgets imports should engage in cooperative marketing in various ways. One of these methods is through distribution. A retailor company can engage in cooperative marketing when the business being carried out involves the distribution to other retailors or distributors. In this way, Global gadgets imports will be involved and will gain greater geographical outreach to the various customers in the world. It will also help in creating awareness of these products in the market. The other way that Global gadgets imports can engage in cooperative marketing is through imaging. This helps to create awareness through consumer learning, overall product information, or focus on the product industry. This method also helps in establishing a positive outline of the goods of both companies in the minds of consumers and other related companies. This also helps to eliminate the negative media, joi ntly promotes the businesses products and may give lessons on the sternness of several problems that may be caused by occurrence impurity or product glitches (William, 2007). Differently, Global gadgets imports can engage in cooperative marketing through packaging. This is done through product packaging of the individual business products for product consistency. This helps in giving out a cohesive look and increase market influence. The packaging strategy can be done by implementing a standard base packaging for the partnership businesses products. Such kind of packaging should help eliminate transportation damage that occurs and establish a freshness look of the products. However, the packaging should be different from the parents company to help eliminate risks such as product substitution. In addition, Global Gadgets Imports should create a marketing team that tries to understand how their target market lives and understand their lifestyle. In carrying out this strategy, Global Gadgets Imports does necessarily have to promote a specific product, but the label acknowledgment should be