The new drink features a design that combines iconic elements of both brands.
Brand collaborations are quite common in the marketing world. The goal of cobranding is clear: to create a synergy of forces to open up new markets and strengthen brand positioning. In other words, a brand union allows both parties to reach niche markets where it would otherwise be more difficult to enter.
The new partnership between Coca-Cola and Jack Daniel’s
According to official sources, Coca-Cola and Jack Daniel’s have announced the joint launch of a new ready-to-drink beverage in Europe. This new drink blends the product of both brands and is made with Jack Daniel’s Tennessee Whiskey and Coca-Cola, the new Jack Daniel’s & Coca-Cola RTD is inspired by the classic cocktail known and enjoyed in bars around the world.
The product was launched in Mexico in November last year and will soon go on sale in several European countries. Subsequently, it will continue to expand into other global markets in Latin America and Asia in order to complete its global strategy.
President of The Coca-Cola Company in Europe, Nikos Koumettis, said that this new alliance was born to become a fan favourite, with the two flavours collaborating to create an iconic pairing by blending the best of both brands.
Image taken from Coca-Cola
Why cobranding is beneficial
Co-branding is a term used to describe a strategic, short-term partnership between two or more companies in order to increase their profitability and positioning due to the strength and value of their brands.
And what are the advantages of co-branding? Well, there are several, and here we tell you about them:
- It opens up new markets: Thanks to the collaboration with other brands and companies, it is possible to reach markets or niches that were previously very difficult to reach, as both companies allow their partner access to the market they dominate.
- Increased reach for your brand: Because both brands increase their reach, this allows you to gain greater visibility for your brands and therefore gain an audience.
- Costs are shared: By combining efforts and developing communication strategies, costs are shared. If your budget for promotion is limited, this can be a great opportunity to promote yourself, as you also have your partner’s budget and thus join forces.
- Sharing efforts: By combining the efforts of both teams, it allows to be more creative and to generate new ideas.
- Gain credibility as a brand: By collaborating with other brands that are serious and respected in the sector, you can improve your brand image and this is a great benefit, as it creates greater trust with consumers.
- The main beneficiary is the customer: Thanks to the union of both companies, an innovative product is obtained that will undoubtedly satisfy customers.
As you can see, there are many advantages to cobranding. There are many other cases of successful collaborations in the marketing world, but we’ll cover that in another Trucker 360 article.
