How many times have you seen two separate brands come out with a product or service together? Probably many times. Some things you may not even think about. Some include Spotify and Hulu, Doritos and Taco Bell, and Mastercard and Apple Pay. Another one to focus on is Nike and Apple.
Both Nike and Apple are huge companies so coming together to co-brand products is an advantage for both. For starters, Apple developed a chip that can be put into Nike running shoes to track different statistics for the user. As well, Nike offers special playlists through Apple Music for being a Nike and Apple customer.
These brands are playing off their popularity to create even more buzz and sales. If someone uses Nike, they will be more inclined to purchase Apple products since they can pair easier. As well, people who exercise will be interested in the pairing of these brands if they are looking for coherence in sport and music. In addition, advertising the brands together can make consumers think of both when making purchases. The same type of thing goes for Beats and Apple before Beats was bought by Apple.
Overall, co-branding can give a competitive advantage to the companies involved. It can create more exposure to products and new features. It is usually beneficial to both companies and consumers.
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