Zhongxin Wanghai, September 9 (Xie Mengyuan) On the 16th, as soon as the wine heart chocolate jointly launched by Moutai and Dove was put on sale, it once again "detonated" the network, just like more than ten days ago, Moutai jointly launched "sauce coffee" to win attention. Looking back on the first half of the year, it is not difficult to find that many mid-to-high-end consumer brands have "ended" to co-brand with mass consumer brands such as coffee, and have gained a high degree of topicality. What is the magic of cross-border co-branding that frequently "goes out of the circle"? Can such a high-frequency launch of joint products continue to "capture" the hearts of young people?
The so-called brand co-branding, also known as joint marketing in marketing, refers to the cooperative brand strategy, that is, the cross-border cooperation of two or more brands. Through the cooperation and combination of different brands, new products, services or experiences are created, bringing freshness and value enhancement to consumers.
"Big brands like Moutai, Ordos, and LV have formed a very strong brand equity, and such brands will not easily launch new brands or product lines because their brand image has been established." Lu Wei, assistant professor of marketing at China Europe International Business School, said in an exclusive interview with Chinanews.com that under the premise of careful decision-making by big brands, co-branding is a less risky "test the waters" opportunity, "such as Moutai and coffee co-branding, and chocolate co-branding, is to test the attitude of young people step by step." ”
Successful co-branding often leads to a "win-win". In Lu Wei's view, brands can attract more attention through joint acquisition and conversion, and then attract new customers, so as to achieve the ultimate goal of improving corporate efficiency, "There is also inspiration, many times cross-border can collide with innovative products." ”
In the first half of the year, a number of high-end consumer goods and coffee co-branded tasted the "sweetness". It is reported that the sales of "sauce coffee" reached 542.1 million cups on the first day, and the sales of a single product exceeded 33 million yuan, and on the same day, Luckin Coffee's US stock price was reported at $60.5, up 7.30%, and the market value rose by more than 6 billion yuan overnight. Coincidentally, the overall sales of Heytea, co-branded with Fendi, continued to grow explosively in the first half of the year, with not only monthly sales increasing for 6 months year-on-year and month-on-month, but also achieving <> months of daily sales growth in comparable stores.
Moutai and Luckin, Dove, Fendi and Heytea, LV and MANNER, Omega and Swatch... In Lu Wei's view, it is no longer a trademark mechanical splicing, but more attention to deep integration of the joint name just proves the characteristics of mid-to-high-end consumer brands pursuing youth and looking forward to standing at the forefront of the tide, "These brands are very willing to embrace young people, although at present, they are high in terms of sales and brand tonality, but for sustainable development, if you do not do a step now, in 5 years, you may lose market share." ”
In order to capture young consumers, why are brands keen on co-branding? Lu Wei believes that this is related to the consumer psychology of today's young people, "Now they need more emotional value, in addition to paying attention to the function of the product, seeking some exciting, fresh, fun products that can represent personality." Unlike one-way TV advertising, consumers on the Internet communicate more frequently and equally with brands and other consumers to attract attention.
On the 14th, Moutai announced that it would co-brand with Dove, which triggered a wave of netizens "creating terriers". On the same day, on a social platform, in addition to the "official announcement" that topped the hot search, the second place on the hot search list was "Moutai scumbag", and in the comment area of related topics, "the end of business is marriage" and "the new love of scumbags came too fast" and other ridicule emerged endlessly.
Lu Wei also pointed out that brands can reposition themselves in the market through co-branding, such as some brands that have an inherent image or a single audience in the minds of the public, hoping to change the image of the brand and reach new user groups, they can co-brand through brands that have their target user groups, "The cooperation between Moutai and FMCG breaks its impression that it only appears in the business scene." ”
However, joint names can only bring attention, and how to leave young people behind also requires long-term thinking. Lu Wei stressed that there must be follow-up after the "eyeballs" to maintain interaction with consumers, "The consumer notices you, and then what? The artillery battle is over, will there be any bullets in the follow-up? Can you still provide the concepts and products they want? (End)