Licensing is one of the lesser known techniques for extending a brand into new categories. This exercise will help you determine whether your brand is ready to be licensed. This highly facilitated, day long, training seminar is designed to gain complete consensus among your organization’s management team and marketing leadership on the brand’s awareness and perception amongst consumers and its ability to extend into new categories through brand licensing.
We work with you to evaluate whether your brand is ready to extend into new categories, as well as identify suitable categories in which to extend your brand through licensing. This includes assessing the strengths and weaknesses of the brand, determining the awareness and perception of the brand among consumers, identifying categories which your brand has permission to extend into and finally selecting the top categories that represent the best market opportunity for your company. The training seminar focuses on using your brand’s positioning, architecture and consumer perceptions in making brand licensing decisions.
We believe that the training seminar should deliver against these objectives:
- Identifying and or verifying categories your brand has permission in which to extend
- Evaluating which of these categories should be extended through licensing
- Prioritizing the categories to ensure you are capitalizing on your best market opportunities
Specific research is critical input to this training seminar which we will be conducted as part of pre-work. We will then incorporate the research into the training seminar to build consensus. The research will be designed to answer the following questions:
- What is the awareness level of the brand?
- What are the perceived strengths and weaknesses of the brand by target segment?
- What new categories does the target segment want to see the brand in?
- What is the market attractiveness of these categories?
We include educational components throughout the day so that all participants are speaking a common language. For instance, we make sure people understand brand architecture and its components: product attributes, functional benefits, emotional benefits and higher order brand identity. We also make sure that people are clear on their brand’s positioning statement and finally, what is brand licensing, what are its benefits and what the brand licensing process is.
The deliverable is a consensus on whether the brand is ready to be licensed into new categories and if so, a list of the top categories that represent the best opportunity to extend the brand through brand licensing. Through our training seminar we will work with the team to ensure that every category selected by definition will reinforce the brand’s position.