Co Branding Leveraging Product's Brand Image

Distinguishing the goods or services (writer: Products) to each other in the bombardment of the production of products from its competitors in the same industry can be a very difficult thing for the customers. Perhaps consumers will be confused to choose the products or services which are to be chosen. But on the other hand, the question arises, why there are many products sold in the market but not least also products that do not sell at the market? Why is there a product that is so loved and remembered by the people but there are also products that are not known by the people?

In the marketing world we are familiar with a term called brand. Brand is what gives the name, characteristics, distinctiveness, symbols, and designs or a combination of all of them to a product. Thus brand become a differentiator and makes products easy for people to remember by the name, characteristics, symbol, design or from all of them. Then, if you ask isn’t most of the product at the present time have a brand? But why does it all not work well? The answer for the first question is "Yes! Almost all products have a brand ". But to answer the second question we need to analyze from several variables. In this article the author will only explain from the point of Product Brand Image and Co-Branding as a key to strengthening the memory of consumers to our products.

Let us look at the case of Islamic banking in recent years more and more popping up both in Indonesia and in various countries around the world. Islamic Bank as a product that provides a service to the community, not just competing with other Islamic bank but also competes with existing conventional banks. With such tight competition in the banking industry, as well as other banks an Islamic bank should be able to provide excellent service and quality should also be able to well-known and powerful by the public as a reliable bank and be chosen by the public. In the subsequent discussion the ability we call as Product Brand Image. Certainly not an easy thing to answer this challenge.

As a product that comes after the existing products, build trust and strong recognition in the minds of consumers is very necessary. One of many ways to do instantly is the Co-Branding strategy. In simple terms this strategy combine two or more brands in a marketing activities together. In this article the author will provide examples of cases that occurred in Bank Muamalat Indonesia (BMI). Although as a first bank established by Islamic principles but does not necessarily make it known as a bank have strong recognition in people's minds and become the people's choice. BMI Product successfully increased its brand image in the early days of its inception by co-branding with one of the leading conventional banks that existed at the time (BCA) and several other partners.

With the co-branding strategy allows BMI to use some of the services that exist in the BCA at no charge to customers. One example is the use of BCA ATM anywhere and anytime for cash withdrawal transactions by customers BMI is not charged. At that time BCA known as a bank that has a network of ATMs in various places. Surely this is an advantage for customers because BMI given the ease of transactions. Even aside with BCA, BMI also co-branded with many other banks in the use of its ATM services at no charge. This further adds to excellence as well as BMI and Product boost its brand image in the face of society.

For all readers who hopefully blessed by God and have an interest in the world of practical marketing, co-branding could be one alternative strategy that can be used to improve the product's brand image in the market in which you compete. Everything we do in business, the main thing of course, should always be considered is as described in the following Ayat (verse):

“Those who devour usury will not stand except as stand one whom the evil one by his touch Hath driven to madness. That is because they say: “Trade is like usury,” but Allah hath permitted trade and forbidden usury. Those who after receiving direction from their Lord, desist, shall be pardoned for the past; their case is for Allah (to judge); but those who repeat (the offence) are companions of the Fire; they will abide therein (for ever).” (Al Baqarah : 275)

So, I hope this article will be useful and keep working with the totality of devotion.

(Dwinto, 13/10/2012)

Source:

Noble Qur’an

Dwinto, The Impact of Co-Branding towards Brand Equity, 2009


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