This paper presents current theoretical and empirical findings on consumersï¿½ preference change in cobranding. We develop a conceptual model to illustrate attitudinal changes in co-branding based on the findings of previous research. We argue that attitude change is influenced by three important effects, namely the extension effect, the mutual effect and the reciprocal effect. It is shown how the interactions of these effects can be used to systematically explain the rationale behind preference change in co-branding. Our study also takes an initial step toward the understanding of the connection between product/brand evaluation and the success of alliance formation. Finally, we provide suggestions for marketing managers and motivate the need for further research in the field of strategic marketing.