The Impact of Co-branding on Consumers’ Purchase Intention-A Case Study of NAIXUE

In recent years, as competition in China's new-style tea drink market intensifies and the consumer base becomes younger, tea brands have begun to adopt co-branding as a marketing strategy to improve their competitiveness. This study takes co-branding of tea brand as the research object. The study firstly combed the literature related to brand co-branding and consumers’ purchase intention and reviewed the existing research results. On this basis, this study proposes hypotheses and constructs a conceptual model based on SOR theory and customer value theory. To better understand how the five factors are connected in the model, this study will use surveys and statistics to analyze them. This will help us learn more about how they relate to one another. First, the questionnaire was developed by drawing on well-established scales from existing studies and combining the co-branding characteristics of tea brands. Subsequently, the questionnaire was distributed on social platforms, and a total of 308 usable responses were collected. The analysis was conducted using SPSS26.0 and AMOS26.0 to conduct mathematical statistics and test hypotheses and results were discussed to draw management suggestions. Finally, the limitations of the study are analyzed and prospects on future research are envisioned. The study found that: (1) co-brand awareness positively affects consumers' perceived value; (2) the matching degree of co-brands positively affects consumers' perceived value; (3) the scarcity of co-branded products positively affects consumers' purchase intention; (4) consumers' perceived value positively affects consumers' purchase intention. Based on the results of the study, the following recommendations are made for tea beverage brands: (1) choose the right co-brands; (2) improve the brand value; (3) increase consumers’ perceived value towards the products.