Co-Marketing

Co-Marketing (or Collaborate marketing) is an alternative term for cooperative advertising. It 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:

N = National and International(Political, legal and ethical)environment

W = Weather

S = Social and Cultural

E = Economic

Co-creative marketing

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.