joint venture marketing
joint venture marketing
Education has always been a pillar of strength upon which society rests. Although the education industry has evolved, the concept remains the same: providing the next generation with the right tools of knowledge and morals to move society a step forward.
Over the years, the education industry has evolved to where profits and balance sheets matter as much as the quality education and the right infrastructure. In an ever growing world, with opportunities increasing every day, providing the right kind of infrastructure is costly. So, for a higher education institute to live up to the standards it aspires, it needs an inflow of students and financial support from alumni, the business community and government. In order to have students, the right kind of exposure in the high demand fields is essential. Advertising and marketing, which are very burdensome to the bottom-line generally, can be aided through the use of joint venture marketing.
Various companies reap significant benefits from a joint venture with an academic institute. Computer and software companies and other high tech companies partner with various institutions and offer their products at lower rates, resulting in an upswing in their share of market. This is beneficial for companies seeking a captive market of students and faculty, who appreciate the access to low cost equipment or software guaranteeing a steady volume of sales. The companies enjoy an opportunity to build brand loyalty with future shoppers (college students).
There are numerous examples of joint venture marketing with college institutions with well-known brands. For years Microsoft has offered software very cheap to enrolled college students and this year Apple has heavily marketing a special discount for college students on their popular laptops. Banks also offer loans at lower interest rates to students and of course the somewhat controversial credit card offers has gone on for over 20 years.
In the real world
Recently, Google and the British library embarked on a project to digitize and publish hundreds of books previously unavailable online. This partnership will bring a wealth of never before seen information out into the digital world. It might not lead to any direct profits, but the availability of the information is tremendous for readers around the world. Google gets the chance to earn high marks for corporate citizenship.
There are various government agencies and non-profit organizations who partner with companies to provide grants for research and scholarships. They do their bit for society and they even earn publicity for it. This results in the colleges becoming an integral part of the company’s research and development for new products efforts and scientific discoveries.
Institutes have shown great success with partnerships with foreign universities and colleges giving them global exposure and international presence. One example of a technological partnership is Dell. They have academic affiliations with various universities across the nation and world. The company actively recruits from the best institutes as well.
christian fea is CEO of Synertegic, Inc. A joint venture marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.