“Branding is not just a product, it’s also a way of life, an idea, branding is actually leadership.”
― Onyi Anyado
What is Co-branding
Co branding is the utilization of two or more brands to name a new product. The ingredient brands help each other to achieve their aims. The overall synchronization between the brand pair and the new product has to be kept in mind. Example of co-branding – Citibank co-branded with MTV to launch a co-branded debit card. This card is beneficial to customers who can avail benefits at specific outlets called MTV Citibank club.
Advantages and Disadvantages of Co-branding
Co-branding has various advantages, such as – risk-sharing, generation of royalty income, more sales income, greater customer trust on the product, wide scope due to joint advertising, technological benefits, better product image by association with another renowned brand, and greater access to new sources of finance. But co-branding is not free from limitations. Co-branding may fail when the two products have different market and are entirely different. If there is difference in visions and missions of the two companies, then also composite branding may fail. Co-branding may affect partner brands in adverse manner. If the customers associate any adverse experience with a constituent brand, then it may damage the total brand equity.
Or in more kickass terms. The best example of co-branding is the Justice League. Batman and Superman. Need we say more?
Recently, Broken Box Culture decided to change things up a bit. This is nothing new. We’re constantly throwing stuff against the wall to see what sticks and what doesn’t.
We have decided to take our designs and put them on things. Shirts, stickers, random peoples foreheads (just kidding) and we like how it looks.
If you’re using POD (print on demand) you know that the profit margins suck. So we paired up with Grateful Graphix to put a design on TeeSpring so we can bankroll getting our own inventory outright without begging for money on the digital street corner (gofundme.com without giving back.With TeeSpring you’re buying a shirt and we get a better profit margin IF we get enough orders in on time.)and while so far we haven’t shattered any sales records (it’s been a day and we’re slow starters) we’ve had some interesting perks that have been unplanned.
So like I said, we aren’t close to hitting our goal yet but it has brought us some new design business and we have been offered some space in a store front in Seattle.
Not too bad for co-branding a brand new venture.
Don’t be afraid to take an unknown leap.