Co-Branding

In addition to lifestyle marketing, another one of my favorite topics in this field is co-branding. Co-branding is a brand partnership in which two companies create an alliance to create market synergy. There are different types of co-branding, such as ingredient co-branding, joint-venture co-branding, and same-company co-branding. Co-branding joins two (or more) well-established brands to market both products to the same consumer in hopes to bring loyalty to one product or brand to the other. Another goal of this type of branding is to combine the strength of the two brands and share brand equity.

Why I Love Co-Branding
If I see two of my favorite brands offered in one product, I am definitely more likely to make a purchase. Co-branding can also increase the premium that customers are willing to pay and my own habits show that I will pay more for products that make me feel like I'm getting the best of two worlds in one. I feel like I'm getting more for my money when I see two brands offered in one package. Would I rather have Crest toothpaste or Crest toothpaste plus Scope? The latter seems like more bang for my buck! However, there is potential for this to backfire. If I love one brand and it co-brands with what I consider to be a not-so-favorable brand, this could taint the image of the first brand altogether - but luckily, this has yet to be the case. Betty Crocker plus Hershey's, yes please! Tide plus a touch of Downy, what could be better than that? There is something fulfilling about seeing that "bonus logo" on any packaging, making co-branded products that much more appealing.

Here are some of my favorite examples and others that were nothing short of genius:

My personal favorite:

Another example of co-branding that has made headlines this week, and perhaps the inspriation for this post, is the collaboration between Target and Neiman Marcus for a holiday collection.

Check out this article via Forbes about this epic mash-up.

There are countless examples of co-branding all around us and I'm sure countless more in the works. Next time you're roaming the aisles of your favorite store or catching up on the lastest business news, check out what other collaborations are happening and ask yourself if that makes you more or less inclined to puchase these products or shop in these stores. I think co-branding is an incredibly advantageous strategy and there is a lot of potential to reach newer and broader markets while increasing brand equity. 

Are there any particular brands, companies, or products that would like to see team up together?