Forming collaborations with other brands is a strategical way to reach new customers and increase sales. While reaching new customers, it also creates word of mouth, e-word of mouth and increases brand awareness. However, if the collaboration is not creating excitement or not making sense to the consumers, the collaboration cannot be called successful. Whilst the aim of the collaborations is to reach new customers, the brands that collaborate must have similarities in the target markets segmentation.
Brands form collaborations to produce a unique product or service. The brands do not have to be from the same industry, where this will lead to produce more creative and unique products or services.
Since today there has been many successful collaborations that has led to enhance the customer base of brands and boost sales. In the following weeks a new creative and innovative product will enter the market, born by a collaboration of Adidas Originals and LEGO.
With this new shoe, Adidas is adding another creative product to there portfolio, while LEGO is giving the opportunity to their customers to wear the toy that they were playing in their childhood. Due to the usage of the toy in the shoe, the product can be considered innovative; where the idea of innovation enables brands to stay ahead. Another advantage can be seen as Adidas gaining competitive advantage by influencing the consumers who are loyal to Nike but a fan of LEGO.
Fashion is about what brands market to you; if they do not target you, you cannot be aware of it.
In-text shoe photo, instagram.com/sean_wotherspoon/
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