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I was impressed with your energy drink blog. I am currently in a venture were we are launching a new energy drink. My business partner recently proposed that we use a third party product marketing/distribution firm to move our energy drink into key target markets. My question to you is, do you think this a good way to launch our brand? Based upon what he has explained to me our involvement regarding the introduction and direction of our brand’s martketing and distribution will be minimal. Also we don’t know what the cost of their services will be. I explained to my partner that cashflow for startups like ours is critical and we should be cautious when dealing with firm s like this so that we don’t run out money before things get started. I would appreciate your advice here. Thanks
Great question. When starting any new venture and starting on the long road of building a brand, control is essential. Using a third party is fine, but it is ultimately your brand and product line. I would not enter into any agreement without 100% approval of all marketing and distribution. It sounds like they may have some good ideas for marketing along with access to key target markets and distribution. Access to key target markets and distribution could be critical to the introduction of your energy drink product and brand, especially within the grocery store environment. My suggestion is to do your research first comparing trying to do distribute and access target markets on your own versus partnering with the top organizations in this space. From there, you can make a more informed decision. These organizations may have excellent ideas on how to introduce your brand and product, but I would not relinquish control. A well constructed brand strategy coupled with an integrated marketing communications (IMC) strategy is critical to your success. I would be open to hearing ideas, but keep control and make sure any partner is in complete alignment with your mission, vision, and values. Good luck with your brand and product!
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