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Joint venture marketing is very common these days. But you cannot say that it’s a new concept. You can never say that. I would like to take you to olden days. Do you remember barter system? Yes off-coarse you should remember it. You must have read this type of business in detail during your school days. However I would like to say few works related to barter system. Suppose you have turmeric in plenty and your colleague has pepper in plenty. Then you might exchange pepper and give some turmeric as a cost price.  Joint venture Marketing has is similar but there are some changes. Have you heard about Accenture? You must have heard.

Accenture does not have its faculty. Yes they have a bunch of software engineers but they do not run their faculty. So how will they provide training to their fresher? And also suppose they want them to do MBA. How will they make it possible? I must tell you that they have contracts with many institutions where they can send their fresher for formal training or some courses. This is joint Venture Marketing.

The two keywords related to joint venture marketing is relation and relationship. These two are the most important terms. I must tell you that I have gone through number of joint venture marketing and it my personal experience that most important thing is relationship. I would love to know that is it possible for the company like Google to work independently. No man no, this is really next to impossible. You will really understand if you use your common sense. I would also like to know that you know about link exchange or not. You will not be surprised to know that this is also an example of joint venture marketing.

This type of marketing is due to dependency. A company which is a producer has to be dependent on those companies who are engaged in marketing of that product. You will hardly find companies who do all their activities on their own. I must tell you that this is a very hard job. Reed and Taylor produce great fabric work but do they manage its marketing as well. Yes they are sold in malls. But you must also know that this is done with the help of collaboration and not by a Reed and Taylor itself.

I would like to give you one more example. Java is the product of Sun Java Company. But oracle uses it and so do people soft. How is it possible? It’s due to a mutual contract which all the company signs to use each other product. They also make sure that they will market each other products. This is joint venture marketing and I hope you better understand now.