Abstract
AbstractWhile considerable research attention has been given to co‐branding (brand alliance), empirical evidence of the success drivers remains fragmented with inconclusive findings. This meta‐analysis aims to synthesize the existing research and provide a comprehensive and generalisable set of findings. It integrates data of 197 effect sizes from 37 independent studies reported in 27 articles. The findings reveal that the relationship between the partner brands has a significantly larger impact on the success of co‐branding than the individual brand characteristics, and brand image fit is a relatively more important driver than product category fit and brand equity. Moderator analysis indicates that the relative importance of the relationship between brands is generalisable to the type of industry, business and co‐branding strategy. This paper advances theoretical understanding in three ways: (a) it increases generalisability of existing studies by investigating the impact of theoretical, contextual, and method‐related moderators on the effect sizes, (b) it brings a consensus to the equivocal findings on the importance of success drivers and (c) it identifies the knowledge gaps, and presents a future research agenda. In so doing, the paper guides practitioners by highlighting which factors to be considered and prioritised when forming a brand alliance.
Highlights
Brands are the most valuable assets of companies pursuing commercial success (Blackett & Russell, 2000; Keranen et al, 2012)
The results reveal that the dyadic relationship between brands is a more important criterion in the evaluation of co-branding than the individual brand characteristics
Some researchers have quantitatively studied the success factors that drive the positive evaluation of co-branding, there have been recent calls to aggregate the factors and examine their relative importance (Helmig et al, 2008; Newmeyer et al, 2014)
Summary
Brands are the most valuable assets of companies pursuing commercial success (Blackett & Russell, 2000; Keranen et al, 2012). Co-branding, named brand alliance, is a marketing strategy in which two or more brands are presented simultaneously to the consumer as one product to create a sum of brand assets, that is greater than that of the individual brands (Ahn et al, 2020; Newmeyer et al, 2018; Rao et al, 1999). Co-branding combines the individual brand characteristics of the constituent brands and transfers the associated values of both brands to the created co- branding (Yu et al, 2020). The purpose of forming a co-branding is to create synergies, boost awareness and enhance the value of the brands involved by leveraging each brand through the transfer of associations from one brand to the other and differentiating them
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