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How common is co-branding? What are the benefits of co-branding?
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It is vary common and takes many forms. It can involve two companies linking their product brands to service brands connecting with products to sponsorships, which are a form of co-branding.
Brands are comprised of attributes and associations and are designed to enhance perceived value for a specific target. Marketing drives profits by attracting customers or retaining existing customers. Co-branding, then, helps in both regards, helping us attract and retain customers and build value with other stakeholders through new or reinforced attributes and associations.
However, be careful. Remember what our mothers told us--we will be known by the company we keep.
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