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Have you heard the term Coopetition? If not, you’ll hear it soon. It is causing quite a stir in the marketing circles.

So in case that you are not familiar with the term, let’s start by defining coopetition. If we check Wikipedia, we find the following definition:

“Coopetition or Co-opetition is a neologism coined to describe cooperative competition. Co-opetition occurs when companies work together for parts of their business where they do not believe they have competitive advantage, and where they believe they can share common costs. For instance, the cooperation between Peugeot and Toyota on shared components for a new city car for Europe in 2005. In this case, companies will save money on shared costs, while remaining fiercely competitive in other areas. For co-opetition to work, companies need to very clearly define where they are working together, and where they are competing.” (more…)