Co-marketing (Commensal marketing, symbiotic marketing) is a form of
marketing co-operation A marketing co-operation or marketing cooperation is a partnership of at least two companies on the value chain level of marketing with the objective to tap the full potential of a market by bundling specific competences or resources. Other terms ...
, in which two or more businesses work together.
"Co-marketing" began in 1981 when Koichi Shimizu, a professor at Josai University, published an article in a bulletin published by Nikkei Advertising Research Institute in Japan. Co-creation marketing and collaborative marketing are included within as part of 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 coexist. The 7Cs Compass Model by Koichi Shimizu is a framework of Co-marketing (Commensal marketing or Symbiotic marketing).
The 7Cs Compass Model comprises:
*The key keywords in this model are commodity, security and weather.
* ''(C1) Corporation'' – The core of 4Cs is corporation (company and non profit organization). C-O-S (competitor, organization, stakeholder) within the corporation. The company has to think of compliance and accountability as important. The competition in the areas in which the company competes with other firms in its industry.
The four elements of the 7Cs Compass Model
*A formal approach to this harmonious coexistence with the earth and sustainable
marketing mix
The marketing mix is the set of controllable elements or variables that a company uses to influence and meet the needs of its target customers in the most effective and efficient way possible. These variables are often grouped into four key ...
is known as
Four Cs (
Commodity
In economics, a commodity is an economic goods, good, usually a resource, that specifically has full or substantial fungibility: that is, the Market (economics), market treats instances of the good as equivalent or nearly so with no regard to w ...
,
Cost
Cost is the value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it i ...
,
Communication
Communication is commonly defined as the transmission of information. Its precise definition is disputed and there are disagreements about whether Intention, unintentional or failed transmissions are included and whether communication not onl ...
),
Channel
Channel, channels, channeling, etc., may refer to:
Geography
* Channel (geography), a landform consisting of the outline (banks) of the path of a narrow body of water.
Australia
* Channel Country, region of outback Australia in Queensland and pa ...
in "7Cs Compass Model. The four Cs Model provides a
demand
In economics, demand is the quantity of a goods, good that consumers are willing and able to purchase at various prices during a given time. In economics "demand" for a commodity is not the same thing as "desire" for it. It refers to both the desi ...
/
customer
In sales, commerce, and economics, a customer (sometimes known as a Client (business), client, buyer, or purchaser) is the recipient of a Good (economics), good, service (economics), service, product (business), product, or an Intellectual prop ...
co-creation alternative to the well-known four Ps supply side model (
product
Product may refer to:
Business
* Product (business), an item that can be offered to a market to satisfy the desire or need of a customer.
* Product (project management), a deliverable or set of deliverables that contribute to a business solution
...
,
price
A price is the (usually not negative) quantity of payment or compensation expected, required, or given by one party to another in return for goods or services. In some situations, especially when the product is a service rather than a ph ...
,
promotion
Promotion may refer to:
Marketing
* Promotion (marketing), one of the four marketing mix elements, comprising any type of marketing communication used to inform or persuade target audiences of the relative merits of a product, service, brand or i ...
,
place
Place may refer to:
Geography
* Place (United States Census Bureau), defined as any concentration of population
** Census-designated place, a populated area lacking its own municipal government
* "Place", a type of street or road name
** Of ...
) of marketing management:
***Product → Commodity
***Price → Cost
***Promotion → Communication
***Place → Channel
* ''(C2)Commodity'' – (Original meaning of Latin: Commodus= both convenient and happy) : Co-creation goods and services created by corporations and consumers together. Product out is useless. It is no good to buy it because we made it.
* ''(C3)Cost'' – (Original meaning of Latin: Constare= It makes sacrifices together ) : producing cost, selling cost, purchasing cost and Costs for society and the global environment.
* ''(C4)Communication'' – (Original meaning of Latin: Communio=sharing of meaning) : marketing communication: IMC, advertising, sales promotion, public relations, publicity, corporate identity etc.
* ''(C5)Channel'' – (Original meaning is a Canal): Marketing channels. Fusion of real and internet.
* ''(C6) Consumer'' – (Needle of compass to consumer)
The factors related to consumers can be explained by the first character of four directions marked on the compass model. These can be remembered by the cardinal directions, hence the name compass model:
**N = Needs
**S = Security
**E = Education: (
consumer education
Consumer education is the preparation of an individual to be capable of making informed decisions when it comes to purchasing products in a consumer culture. It generally covers various consumer goods and services, prices, what the consumer can ...
)
**W = Wants
*''(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
A compass is a device that shows the cardinal directions used for navigation and geographic orientation. It commonly consists of a magnetized needle or other element, such as a compass card or compass rose, which can pivot to align itself with No ...
model:
**N =
Nation
A nation is a type of social organization where a collective Identity (social science), identity, a national identity, has emerged from a combination of shared features across a given population, such as language, history, ethnicity, culture, t ...
al and International:
Political
Politics () is the set of activities that are associated with decision-making, making decisions in social group, groups, or other forms of power (social and political), power relations among individuals, such as the distribution of Social sta ...
,
legal
Law is a set of rules that are created and are law enforcement, enforceable by social or governmental institutions to regulate behavior, with its precise definition a matter of longstanding debate. It has been variously described as a Socia ...
and
ethical
Ethics is the philosophical study of moral phenomena. Also called moral philosophy, it investigates normative questions about what people ought to do or which behavior is morally right. Its main branches include normative ethics, applied e ...
environment
**S =
Social
Social organisms, including human(s), live collectively in interacting populations. This interaction is considered social whether they are aware of it or not, and whether the exchange is voluntary or not.
Etymology
The word "social" derives fro ...
and Cultural
**E =
Economic
An economy is an area of the Production (economics), production, Distribution (economics), distribution and trade, as well as Consumption (economics), consumption of Goods (economics), goods and Service (economics), services. In general, it is ...
**W =
Weather
Weather is the state of the atmosphere, describing for example the degree to which it is hot or cold, wet or dry, calm or stormy, clear or cloud cover, cloudy. On Earth, most weather phenomena occur in the lowest layer of the planet's atmo ...
: Extreme weather, climate change and disasters.
Co-creation marketing
The
co-creation
Co-creation, in the context of a business, refers to a product or service design process in which input from consumers plays a central role from beginning to end. Less specifically, the term is also used for any way in which a business allows c ...
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.
[Prahalad, C.K.; Ramaswamy, V. (2004) "Co-Creation Experiences: The Next Practice in Value Creation". ''Journal of Interactive Marketing''. Volume 18, Number 3.]
Collaborative marketing
Collaborative marketing is a
marketing
Marketing is the act of acquiring, satisfying and retaining customers. It is one of the primary components of Business administration, business management and commerce.
Marketing is usually conducted by the seller, typically a retailer or ma ...
practice where two
companies
A company, abbreviated as co., is a legal entity representing an association of legal people, whether natural, juridical or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specifi ...
cooperate with separate
distribution Distribution may refer to:
Mathematics
*Distribution (mathematics), generalized functions used to formulate solutions of partial differential equations
*Probability distribution, the probability of a particular value or value range of a varia ...
channels, sometimes including
profit
Profit may refer to:
Business and law
* Profit (accounting), the difference between the purchase price and the costs of bringing to market
* Profit (economics), normal profit and economic profit
* Profit (real property), a nonpossessory inter ...
sharing. It is frequently confused with
co-promotion Co-promotion is a marketing practice that allows two or more companies to combine their sales force in order to promote a product under the same brand name and price with a single marketing strategy.Currentpartnering.com, (2015). ''Co-promotion''. ...
.
See also
*
Advertising">...
*Advertising
*Co-creation
*Marketing">Advertising
*Co-creation">Advertising">...