What is the meaning of co-branding?

Co-branding is a marketing strategy that utilizes multiple brand names on a good or service as part of a strategic alliance. Also known as a brand partnership, co-branding (or "cobranding") encompasses several different types of branding collaborations, typically involving the brands of at least two companies.

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Co-Branding Agreement

Queens New York Co-Branding Agreement

Name: Queens New York Co-Branding Agreement
Brand: US Legal Forms
Rating: 4.81 (438 reviews)

Category:

Contracts - Co-Branding

State:

Multi-State

County:

Queens

Control #:

US-02925BG

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Instant download

Description

Co-branding is a pairing of two or more branded products to form either a separate and unique product or brand; the use of distinct brands in combination with market-related products for complementary use, such as between a fast food chain and a toy company; or even physical product integration, such as a brand-name toothpaste combined with a brand-name mouthwash. A co-branding strategy can be a means to gain more marketplace exposure, fend off the threat of private label brands and share expensive promotion costs with a partner. In a co-branding relationship, both brands should have an obvious and natural relationship that has potential to be commercially beneficial to both parties.

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The disadvantages: If the companies don't share the same missions and visions, composite branding is a no-go. Co-branding can also have an adverse effect on partner brands. If the customers associate bad traits and experiences with one of the brands, the total brand equity might get damaged.

The other type of partnering strategy, co-branding, is an arrangement that associates a single product or service with more than one brand name. Companies will work together on associating logos, color schemes or brand identifiers to a specific product that is designated for this purpose.

Co-branding can boost the reputation of two or more brands, depending on the strategy employed. There are four distinct strategies including market penetration, global brand, brand reinforcement, and brand extension strategy.

Co-branding is a useful strategy for many businesses seeking to increase their customer bases, profitability, market share, customer loyalty, brand image, perceived value, and cost savings.

The 6 Best Co-Branding Examples We've Ever Seen Nike & Apple. In 2016, Apple and Nike introduced the Apple Watch Nike+.Subaru & L.L. Bean. When L.L. Bean announced its partnership with Subaru in 2000, the fit made perfect sense.Red Bull & GoPro.Star Wars & COVERGIRL.ICIC Bank & Ferrari.DISH & Boost Mobile.

Establish Credibility - Co-branding enables businesses to build or enhance their brand by partnering with another respected business. Two brands coming together establishes credibility because each company is able to highlight and reflect each other's assets and thus strengthen their position in a given market.

Co-branding is a marketing strategy that utilizes multiple brand names on a good or service as part of a strategic alliance. Also known as a brand partnership, co-branding (or "cobranding") encompasses several different types of branding collaborations, typically involving the brands of at least two companies.

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 that is contractually designated for this purpose.

Co-brand logos in use Co-brand with the parent brand of other companies. Do not co-brand with specific products or divisions of other companies. Use the Red Hat logo to co-brand. Do not use product logos in co-brands.

The Taco Bell/Doritos partnership detailed below is a perfect example of co-branding. Or, for instance, when Nike partnered with Apple for Apple Watch Nike +. A common example is when your favorite brand or retailer partners with a credit card company for a co-branded credit card like Bloomingdale's American Express.

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Queens New York Co-Branding Agreement

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