| This study extends the brand extension-brand equity research by examining the relatively new, but pervasive, phenomenon of cobranding. Cobranding is defined as the use of two or more brands to name a new product (e.g., Compaq Fisher Price baby computer). Cobranding is positioned as a case of brand extensions, on one hand, and as a conceptual combination, on the other. Drawing from previous research in brand extensions and integrating into it elements of the conceptual combination literature, a conceptual model for evaluating cobranding extensions is proposed.; Consistent with previous research in brand extensions, the evaluation of cobranding extensions is modeled as a function of (1) the quality of each of the brands involved in the extension, and (2) the fit of each of the constituent brands with the co-branded product. However, unlike previous research, and a significant contribution of the study, the author's position is that the major effects of fit of each of the constituent brands are indirect. The consumers' evaluation of the extension takes place, first, by assessing the degree of overall fit between the cobrand and the extension. In turn, the overall fit is determined by considering simultaneously the fit of each of the constituent brands with the extension and the compatibility between the brands, irrespective of the product featured in the extension. Taken collectively, the results of the main (n = 228) and the replication (n = 368) studies provide support for the model.; The contribution of the study goes beyond the theoretical and managerial implications related to the specific findings. The proposed conceptual model can be used to study other types of branding strategies, such as composite brand extensions, ingredient and component branding, brand bundling, co-promotion, and advertising alliances. Studying alternative branding strategies under the same conceptual framework will make it possible to organize existing knowledge better, unify alternative streams of research, and examine similarities and differences among alternative cobranding strategies. This should open new avenues for further research in the area of branding, brand equity, and brand management. |
