Co-branding is a marketing strategy where two or more brands collaborate to create a product or service that features both of their names. This partnership allows brands to leverage each other's strengths, reach new audiences, and enhance their overall market presence. For example, when Nike teams up with Apple to create a fitness tracking app, both brands benefit from the association and shared customer base. This approach can also lead to innovative products that combine the best features of each brand. A well-known example is the collaboration between Doritos and Taco Bell to create the Doritos Locos Tacos, which attracted fans of both brands and boosted sales significantly.