Co-marketing (Collaborate marketing) is a marketing practice where two companies cooperate with separate distribution channels, sometimes including profit sharing. It is frequently confused with co-promotion. Also Commensal (symbiotic) marketing is a marketing on which both corporation and a corporation, a corporation and a consumer, country and a country, human and nature can live. The 7Cs Compass Model is a framework of Co-marketing (Commensal marketing or Symbiotic marketing). Also the Co-creative marketing of a company and consumers are contained in the co-marketing.
Commensal (symbiotic) marketing
Commensal (symbiotic) marketing is a marketing on which both corporation and a corporation, a corporation and a consumer, country and a country, human and nature can live. The 7Cs Compass Model by Koichi Shimizu is a framework of Co-marketing (Commensal marketing or Symbiotic marketing).
The four elements of the 7Cs Compass Model
- A formal approach to this customer-focused marketing mix is known as Four Cs (Commodity, Cost, Channel, Communication) in "7Cs Compass Model. The four Cs Model provides a demand/customer centric version alternative to the well-known four Ps supply side model (product, price, place, promotion) of marketing management:
- Product -> Commodity
- Price -> Cost
- Place -> Channel
- Promotion -> Communication
- (C2)Commodity - (Original meaning of Latin: Commodus=convenient) : the product for the consumers or citizens. Not product out.
- (C3)Cost - (Original meaning of Latin: Constare= It makes sacrifices) : producing cost, selling cost, purchasing cost and social cost.
- (C4)Channel - (Original meaning is a Canal) : Flow of commodity : marketing channels.
- (C5)Communication - (Original meaning of Latin:Communio=sharing of meaning) : marketing communication : It doesn't promote the sales.
- (C7)Circumstances - (Needle of compass to Circumstances )
In addition to the consumer, there are various uncontrollable external environmental factors encircling the companies. Here it can also be explained by the first character of the four directions marked on the compass model:
EXHIBIT: Shimizu's 7Cs Compass Model (Courtesy: © Koichi Shimizu, Japan)
The co-creation of a company and consumers are contained in the co-marketing. Co-creation is a management initiative, or form of economic strategy, that brings different parties together (for instance, a company and a group of customers), in order to jointly produce a mutually valued outcome.
- ^ Shimizu, Koichi(1989) "Advertising Theory and Strategies," (Japanese) first edition, Souseisha Book Company in Tokyo. (ISBN 4-7944-2030-7) pp. 63-102.
- ^ Shimizu, Koichi (2014) "Advertising Theory and Strategies," (Japanese) 18th edition, Souseisha Book Company. (ISBN 4-7944-2132-X C3034) pp. 63-102.
- ^ Solis, Brian (2011) Engage!: The Complete Guide for Brands and Businesses to Build, Cultivate, and Measure Success in the New Web, John Wiley & Sons, Inc. pp. 201-202.
- ^ Shimizu, Koichi (2016)"Co-marketing (Symbiotic Marketing) Strategis,"(Japanese) 5th edition, Souseisha Book Company (ISBN 978-4-7944-2482-2) pp. 25-62.
- ^ Prahalad, C.K.; Ramaswamy, V. (2004) "Co-Creation Experiences: The Next Practice in Value Creation". Journal of Interactive Marketing. Volume 18, Number 3.