Explain the term and objectives of Co-Branding and give an example.

Expert Solution

Co-branding refers to the utilization of two or more brands so as to create a new product. This can be of the same company or from two distinct companies. The underlying brands of the new brand help each other in achieving the purpose of the newly created brand. It is important that the synchronization between the ingredient brand and the new product is determined carefully.

Co-branding tends to create an overall marketing synergy by creating a larger customer base which combines the existing customer base of the brand pairs, highlighting the best features of every brand. Businesses operating online also hold the added visibility of their business website and other properties so as to further promote the campaign.

Objectives

Example

Both MasterCard and Apple have joined hands in making transactions cashless. MasterCard became the first credit card company which supported Apple Pay. This provided Apple with a generous customer base along with tweaking its service along with providing MasterCard brand new feature and function which was exclusive to its customers.

Rahul Sunny answered 1 year ago

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