Research on the Marketing Strategy of Co-branding with Other Brands -- Taking Luckin Coffee as an Example

Abstract

With the increasingly fierce market competition, marketing strategy is the top priority for the development of each brand. Many brands in the Chinese beverage industry have seized the market, so in order to enhance brand competitiveness and expand market share, collaborating with other brands has become a key focus of brand marketing. Based on case analysis of specific products, this article takes Luckin Coffee which is an emerging brand in China and has a large number of young consumer groups as the research theme, analyzes its co-branded products with other brands - Coconut Cloud Latte, Cheese Latte, and Sauce-flavored Latte from a market perspective, explores and summarizes the reasons for its success and the implications for the development of other brands. Research has found that Luckin not only innovates its products when collaborating with other brands, but also attracts more consumers in packaging, online and offline advertising, pricing, and peripheral products. Co-branding helps maintain a youthful and differentiated brand development, cultivate a loyal customer base, and achieve a win-win situation for the brand.