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Using Marketing Mix Theory to Analyze the Successful Reasons on Heytea’ s Co-branding Strategy
- 1 RCF Experimental School, Beijing, 100028, China
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Abstract
Since May 2023, when Heytea established a co-branding alliance with Fendi, its sales and popularity have significantly increased. Several retailers faced a shortage of the product within the first week following its launch. This study sought to examine the elements that have contributed to the successful cross-border co-branding cooperation between Heytea and Fendi. This study employs the marketing mix theory of the 4Vs to analyze the situation of Heytea from three angles: value strategy, variation strategy, and vibration strategy. Heytea had success by using three crucial factors: augmenting the perceived worth of their product, providing a wide array of products to cater to a broader consumer demographic, and producing enthusiasm to captivate public attention. Similarly, the three suggestions are to improve the caliber of products, provide customized service, and engage influencers. This study offers an extensive investigation into cross-border co-branding in China, with significant implications for other companies and industries.
Keywords
Value strategy, Variation strategy, Vibration strategy, Co-branding
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Cite this article
Chen,L. (2024). Using Marketing Mix Theory to Analyze the Successful Reasons on Heytea’ s Co-branding Strategy. Advances in Economics, Management and Political Sciences,110,209-216.
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