This qualitative research explores the dynamics of collaborative marketing and supply chain strategies for enhanced product lifecycle management. Through in-depth interviews with industry stakeholders, key themes, challenges, and implications of collaboration emerge. Trust, communication, technology, strategic alignment, and sustainability are identified as critical factors driving successful collaboration. The study highlights the transformative potential of collaboration in driving innovation, efficiency, and customer satisfaction. Despite challenges such as aligning objectives and ensuring data security, collaborative strategies offer significant opportunities for value creation and differentiation. The findings underscore the importance of building trust, leveraging technology, and integrating sustainability considerations in collaborative efforts. Strategic alignment and cultural fit among partners are essential for overcoming differences and achieving common goals. The implications of the research extend to practitioners seeking to enhance collaboration in their organizations and researchers exploring collaborative practices in different industries and contexts. Future research could further explore the impact of collaboration on stakeholder perspectives and outcomes. By addressing challenges and leveraging opportunities, organizations can maximize the benefits of collaborative marketing and supply chain strategies to drive sustainable growth and competitive advantage in today's dynamic business landscape.