In order to survive and grow in the stiff market competition, many companies today work together with each other by creating combination brands or so-called, brand alliances. In fact, brand alliances are gaining popularity these days in Korea or elsewhere in the world. Despite their expected advantages, however, they have not always been successful in the marketplace in the long-run. The purpose of this research was to examine how consumers evaluated brand alliances in the physical goods as well as services categories. The focus was on how they reacted to the consistency and inconsistency created by the combination of two ingredient brands. The results showed that the respondents evaluated brand alliances in the physical product category in a quite different way than they reacted to those in the service category. Implications of the results are discussed from a theoretical and practical standpoint.