Business Review and Objective Setting
– The Bicknell Group starts each marketing alliance assignment with a thorough review of the client’s products, target market and market position. A key purpose is to achieve a focused definition of target customers and the basis on which the client’s product is sold. With this understanding, objectives for strategic marketing relationships are established with the client.
Alliance Partner Targeting
– The next phase entails first brainstorming with the client in order to think broadly about who to include among potential strategic partners. The resulting list of potential partners is then prioritized to focus attention on non-competing businesses that serve the same customers. The prioritized target list is usually divided into companies with whom the client’s product can be co-marketed and companies with whom the client’s product can be bundled. The benefits of an alliance to both the client and potential partner are clearly delineated in this phase.
Potential Partner Contact and Presentation
- Once The Bicknell Group and its client have rationalized the potential partner list, we contact the target corporations, qualify their interest and establish a meeting to explore the proposed relationship. When the client is introduced to the prospective partner, The Bicknell Group provides support and guidance concerning the client’s presentation.
– The Bicknell Group coordinates with the client and potential partner to structure a relationship terms sheet incorporating the principal elements of the proposed relationship. The alliance is structured to include key incentives and safeguards to promote the success of the alliance.
Negotiation and Documentation
– Crucial negotiations occur as the marketing alliance agreement is formally documented. The Bicknell Group acts as a valuable intermediary in this process to insure that a cooperative relationship is fostered between the parties and to promote the on-going ability of the parties to work together.