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:
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 (2014) "Advertising Theory and Strategies," 18th edition, Souseisha Book Company. (ISBN 4-7944-2132-X C3034) pp. 63–102. (Japanese)
- 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 (2003)"Symbiotic Marketing Strategy," 4th edition, Souseisha Book Company.(ISBN 4-7944-2158-3 C3034) pp. 25–62. (Japanese)
- Prahalad, C.K.; Ramaswamy, V. (2004) "Co-Creation Experiences: The Next Practice in Value Creation". Journal of Interactive Marketing. Volume 18, Number 3.