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Be Stronger Together: Partner Strategies between Material Suppliers and Sports Goods Producers to Promote High-Tech Innovations
Abstract
Innovations in sports goods are often the results of new materials. Since sport equipment manufacturers have, in many cases, no specialized capabilities in material engineering, they rely on partners who are experts in inventing or further enhancing components. Today there are many business models known that reach from simply buying the component, to licensing, to joint innovation management and beyond. One of these strategies is component branding or co-branding as a way of benefitting from the image or perception of a partner. According to this strategy, a sports equipment producer may signal their partnership with an innovative chemical company to consumers in order to gain spillover, such as increased trust in the innovation, which affects for their final product. In order to conceptualize this strategic approach, this chapter presents a real case and the theoretical background to analyze what companies may gain from co-branding. Furthermore, these insights are used to develop a framework that can be used to understand the basic principals behind such strategy. Finally, the pros and cons are discussed.
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