It’s the month of love! Couples all over the world are celebrating Valentine’s Day and professing their undying love for each other. However, only a few relationships can stand the test of time. A close look reveals that only those based on mutual trust and understanding last long. You need to be great friends, good partners first to eventually become good lovers. Everybody can do with a good companion. After all, life can get tough and a trustworthy companion makes the journey easier. If you can choose the right companion, half the battle is won. A love affair will last long only when you choose your partner with care. A hasty decision in this respect will only end in a broken relationship.
Business too, is also all about relationships and affairs. Having an ‘affair’ is actually good business. Ask any Bollywood (even Hollywood) actor and (s)he will tell you how a rumour of an affair between the lead couple just before the release of their film is bound to get the audience more interested in the film and contribute to increase in ticket sales. It’s a time-tested trick and always grabs the maximum attention and media coverage. However the ‘affair’ we are talking about is a ‘corporate affair’. And in that regard too, it is a time-tested trick to grab the attention of the consumer.
In today’s fast moving and competitive world, one of the fastest ways to spread your presence in the market and get noticed and talked about is to find the right business partner. Look at Coca-Cola. Its success story is based on partnerships and alliances. Be it the bottler (in 1899 it started its first bottling agreement and today has 300 bottling partners around the world), the supplier, etc., all are partners of the brand and its success depends on the efficiency of these partners. However the biggest partner of Coke has been McDonald’s. Coca-Cola products are sold in over 31,000 outlets of McDonalds spread across 100 countries. Coke entered the Russian market with the help of McDonald’s. In US alone, 5% of Coke’s market share comes from McDonald’s. It’s all thanks to Ray Kroc – the man who made McDonald’s such a successful QSR chain. Back in 1950, Ray Kroc persuaded a young Coke employee to supply him Coca-Cola. Since then, the relationship has grown from strength to strength. The point to note here is that not a single McDonald’s restaurant serves Pepsi, even though there is no document that prohibits them from serving Pepsi. It’s a partnership that has benefitted both brands. If you look carefully, you will find that every dollar that Coke earns comes from some partner or the other – be it a bottling partner or a distribution partner.
Business too, is also all about relationships and affairs. Having an ‘affair’ is actually good business. Ask any Bollywood (even Hollywood) actor and (s)he will tell you how a rumour of an affair between the lead couple just before the release of their film is bound to get the audience more interested in the film and contribute to increase in ticket sales. It’s a time-tested trick and always grabs the maximum attention and media coverage. However the ‘affair’ we are talking about is a ‘corporate affair’. And in that regard too, it is a time-tested trick to grab the attention of the consumer.
In today’s fast moving and competitive world, one of the fastest ways to spread your presence in the market and get noticed and talked about is to find the right business partner. Look at Coca-Cola. Its success story is based on partnerships and alliances. Be it the bottler (in 1899 it started its first bottling agreement and today has 300 bottling partners around the world), the supplier, etc., all are partners of the brand and its success depends on the efficiency of these partners. However the biggest partner of Coke has been McDonald’s. Coca-Cola products are sold in over 31,000 outlets of McDonalds spread across 100 countries. Coke entered the Russian market with the help of McDonald’s. In US alone, 5% of Coke’s market share comes from McDonald’s. It’s all thanks to Ray Kroc – the man who made McDonald’s such a successful QSR chain. Back in 1950, Ray Kroc persuaded a young Coke employee to supply him Coca-Cola. Since then, the relationship has grown from strength to strength. The point to note here is that not a single McDonald’s restaurant serves Pepsi, even though there is no document that prohibits them from serving Pepsi. It’s a partnership that has benefitted both brands. If you look carefully, you will find that every dollar that Coke earns comes from some partner or the other – be it a bottling partner or a distribution partner.
