"Co-branding is a marketing strategy that involves strategic alliance of multiple brand names jointly used on a single product or service."
In this type of franchise, two or more brands join together to operate under one franchise system. For example, a coffee chain might partner with a donut chain to form a single franchise.
Co-branding concept and definition: Understanding what co-branding is, how it works, and its benefits for franchise businesses.
Types of co-branding: Identifying the various types of co-branding, including horizontal, vertical, ingredient, and complementary co-branding.
Selection of suitable franchise: Identifying the business objectives of the franchise and guidelines to select one.
Brand positioning and brand promise: Understanding the importance of brand promise and the steps of brand positioning.
Franchisor and Franchisee Relationship: Exploring how the relationship between the franchisor and franchisee can affect the success of co-branding.
Co-branding strategies: Exploring the different strategies businesses can use to co-brand, such as mixed branding, multiple branding and endorsements.
Finding co-branding partners: Discuss suitable ways to identify suitable co-branding partners and evaluating their brand compatibility.
Marketing and promotion: Crafting a marketing and promotional plan for co-branded products or services, including product pricing or discounting, marketing budget and identifying non-competing areas.
Legal agreements and documentation: Understanding the legal documents necessary to implement co-branding activities.
Measuring the effectiveness of co-branding: Identifying the appropriate tools to measure the success of co-branding activities, such as sales data and customer feedback.
Product co-branding: This type of co-branding occurs when two or more companies combine their products to create a new product. For example, when Intel and McAfee combine their technology to develop Intel Security.
Promotional co-branding: Also known as advertising co-branding or marketing co-branding. In this type of co-branding, two or more companies partner up in advertising campaigns to promote a new product or service. An example of this is the partnership between Coca-Cola and McDonald's.
Joint Venture co-branding: Joint venture co-branding is when two or more companies form a partnership to create a new business venture. For example, Spotify and Hulu collaborate on a joint venture that offers music and TV streaming.
Sponsorship co-branding: In sponsorship co-branding, one company sponsors events or shows that are hosted by another company. For instance, Visa sponsors the Olympic games.
Complimentary Co-Branding: This type of strategic partnership is established between two brands in different industries that have complementary products or services. For example, Apple and Nike collaborate to bring a fitness app that combines both, Apple watch and Nike running shoes.
Location Based Co-Branding: Where two businesses that exist in the same neighborhood, work together on a marketing campaign to establish a strong presence in that location. For example, many shopping malls or grocery stores will offer co-branded deals, where one business will incentivize customers to visit their partner business.
Multi-Channel Co-Branding: This kind involves two companies that complement each other from a multi-channel perspective. For instance, Walmart and VUDU offer customers the chance to purchase movie tickets and watch their favorite movies directly from Walmart's website.
Ingredient Co-Branding: This co-branding strategy is commonly applied in the food and beverage industry, where a company uses a trademark ingredient. For example, Nestle and KitKat have teamed up to give their consumers a chocolate-flavored ice cream.
Licensing Co-Branding: This is where a brand is permitted to use another brand’s name, image or identity in return for payment of royalties. For instance, Michael Kors licenses sports brands, such as Nike and Puma.
Technology co-branding: This is the mixture of two or more technology products to create a new product. For instance, Microsoft and Intel.
Service Co-Branding: This involves two or more companies coming together to offer joint services. For instance, American Express and Delta Airlines have come together to offer their consumers a co-branded credit card that provides travel benefits.
Endorsed Branding: This involves well-known personalities or celebrities endorsing a brand. For example, Rihanna endorses Fenty Beauty, an LVMH brand.
Systems co-branding: This type of co-branding takes place when one company enables the other company to utilize their systems for a better customer experience. For example, Avis car rentals offering a partnership with Amazon Alexa for voice-first reservations.
Collaborative co-branding: In this type of co-branding, two companies come together to create a new product or service. For instance, David Beckham and H&M's collaboration created an underwear line for men.
Cause-related co-branding: Two companies work together to help support a cause. An example of this is (RED), an organization that was founded to help combat HIV, Tuberculosis, and Malaria, partnering with mainstream brands like Apple, Coca-Cola, and Starbucks in various limited-time campaigns.
"Co-branding is an arrangement that associates a single product or service with more than one brand name."
"The typical co-branding agreement involves two or more companies acting in cooperation to associate any of various logos, color schemes, or brand identifiers to a specific product."
"The objective for this is to combine the strength of two brands, to increase the premium consumers are willing to pay, make the product or service more resistant to copying by private label manufacturers, or to combine the different perceived properties associated with these brands with a single product."
"An early instance of co-branding occurred in 1956 when Renault had Jacques Arpels of jewelers Van Cleef and Arpels turn the dashboard of one of their newly introduced Dauphines into a work of art."
"Co-branding (also called brand partnership)"
"Co-branding as described in Co-Branding: The Science of Alliance, is when two companies form an alliance to work together, thus creating marketing synergy."
"Make the product or service more resistant to copying by private label manufacturers"
"Combine the different perceived properties associated with these brands with a single product."
"To combine the strength of two brands, to increase the premium consumers are willing to pay."
"The typical co-branding agreement involves two or more companies acting in cooperation."
"Various logos, color schemes, or brand identifiers."
"Make the product or service more resistant to copying by private label manufacturers."
"To increase the premium consumers are willing to pay."
"To make the product or service more resistant to copying by private label manufacturers."
"Renault had Jacques Arpels of jewelers Van Cleef and Arpels turn the dashboard of one of their newly introduced Dauphines into a work of art."
"To turn the dashboard of one of their newly introduced Dauphines into a work of art."
"Co-Branding: The Science of Alliance"
"To increase the premium consumers are willing to pay."
"To combine the strength of two brands."