5 Benefits of Using Strategic Brand Alliance
If you are pursuing an MBA, you must be familiar with the concept of establishing strategic brand alliances . Strategic alliances give a business a competitive advantage over other firms in the niche. How? A company can form a strategic partnership with another organisation based on short and long-term objectives. Joint ventures, franchises, cross-licensing and marketing come under brand alliances. Now, what benefits does a firm get to enjoy when it enters a strategic brand alliance? Read on to know how the formal partnership can help a company realise its potential. Mention these benefits in your assignment on the same topic to reflect your in-depth understanding of joint ventures, franchises and more. 1. Access to new target markets When a company becomes a part of strategic brand alliances, it gets to explore a broader target market. Most importantly, the brand does not have to start afresh. It can use the resources and expertise of the company ...