| ign="center"> | | | | throughout the Midwest carried a coupon for $1 off |
| Let's say you have not taken the full dive into a | | | | A1 Steak Sauce if purchased simultaneously. The joint |
| full-time joint venture. Is there something you can do | | | | venture also created awareness of both products by |
| to test the waters and find out if a joint venture is | | | | placing signs and product displays for A1 Steak Sauce |
| right for you? Absolutely! You can form a short-term | | | | near the fresh meat case, with signs placed for |
| JV with another partner for a limited time only as a | | | | Cargill's beef near the A1 Steak Sauce aisle. This |
| cross-promotional effort. | | | | helped create awareness for customers and |
| Cross-Promotion 101 | | | | encouraged shoppers to interact with both products. |
| Cross promotion is an activity where you and your | | | | Additionally, to help steer customers away from |
| JV partner simply offer special deals on the other | | | | traditional ground beef recipes, Cargill and Kraft |
| partner's products. There are many ways to cross | | | | promoted and offered recipes for flavorful dishes |
| promote and bring more attention from your | | | | that used A1 Steak Sauce as the Texas-Style |
| respective customers to your JV partner's products. | | | | Burger, Bold 'n' Saucy Cheeseburger, and the All A1 |
| Cross promotion can take many forms. One popular | | | | Burger. |
| form for JVs is to simply display and merchandise | | | | Although it is too early to determine the full financial |
| your JV partner's products in your store while your | | | | returns of the joint venture, there is no doubt that |
| partner does the same. Another way might be to | | | | the cross-promotional effort was a success. The |
| offer coupons for special deals on your JV partner's | | | | cross-promotional efforts took place in over 1,900 |
| products. | | | | retail grocery stores, including SuperTarget stores. |
| Another popular cross-promotional merchandising | | | | The Cargill-Kraft JV is a good example of how you |
| strategy is to package the deal. Both you and your | | | | can effectively form a JV for a short-term |
| JV partner can package products to sell for a special | | | | cross-promotional effort. Remember to utilize |
| price, or even offer complementary services that | | | | coupons, signage, and package merchandising to help |
| customers of both businesses may need. | | | | make the JV a success. If you and your joint |
| Case Study: Cross-Promotion Success | | | | venture partner find that the promotional effort was |
| A good example of a successful cross promotion | | | | a stunning success, you may want to renegotiate for |
| occurred just this last summer in 2009. The Excel | | | | a longer term. |
| beef division at the international food producer | | | | Christian Fea is CEO of Synertegic, Inc. A Joint |
| Cargill's in Wichita, KS and food giant Kraft paired up | | | | Venture Marketing firm. He exemplifies how to profit |
| for a temporary joint venture that lasted from July | | | | from Joint Venture relationships by creating profit |
| through August 2009. The joint venture was planned | | | | centers with minimal risk and maximum profitability. |
| to cross promote Cargill's ground beef products and | | | | To discover more Joint Venture Marketing Strategies |
| Kraft's popular A.1. Steak Sauce. | | | | join his free Joint Venture Marketing Wealth Report. |
| Cargill's ground beef packages sold in retail stores | | | | |