brand diversification development partnering
Partnering. Strategic alliances and business partnerships are very common tools in today’s market strategies. However, brand management is often hesitant. Brand owners tend to sit on their brand businesses like brooding hens. They have problems to team up with third parties as long as core brand competencies are concerned – product design, manufacturing, quality, marketing, sales and distribution.

A partnership is different from directing subordinates or from commanding suppliers. Quite the opposite, it is vital to share winning, to interact at eye level, to share the same objectives, to communicate openly, and to accept guidance.

However, brand partnerships are nothing different from other business partnerships. It is all about sharing. One party contributes an established brand, the other party contributes products, technology and/or customer access. The key question is: who is the right partner?

The world is full of unknown, yet successful companies – so-called hidden champions. They are leaders in their areas, but rather unnoticed by the public. They operate in smaller markets, in distant geographies, and with unbranded products. Often, they flourish in obscurity and have unparalleled profit rates.

The lag in publicity and awareness does not diminish their success. Above all, they offer very good products through an efficient business model. Imagine what happened if they had an established and powerful brand on their products? There are many companies to choose as partners for your brand. With a hidden champion you can’t go wrong.