Collaboration with other relevant stakeholders and sponsorship significantly improves the position of a brand within the market by ensuring its exposure and improving its name. For example, by partnering with respected, reputable partners, it will give your brand the ability to inherit part of the trust and positive perception the said consumers have toward that partner. These partnerships could also provide an opportunity to tap into previously unavailable market segments and, consequently, even allow relating the brand to customers other than those composing the target market. Such expanded reach may result in more sales and put the company in a better competitive position.