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Licensing: Help To Grow Existing Product Lines

Viewed 33 times4-8-2022 02:27 PM |Personal category:business| business

The attraction of licensing trademarks for business intentions appears to be at an all-time high, mostly in the fashion arena where consumers are buying more licensed products and brand names than ever before. For retailers, licensing opportunities provide them with a point of difference from their competitors.

 

Licensing is leasing a legally protected property (like trademarked or copyrighted name, logo, likeness, character, phrase or design) to another party in combination with a product, service or promotion. It is a process which lays stress on consumer management, development of brand equity in line with international imagery, providing right shopping ambience and perhaps is less about manufacturing. Licensing is a way of growing with an already established brand. It provides the brand recall benefits, which are not achievable in case one comes out with a brand new image. View more about Licensing agency

 

There are many types of licensing business like art & design, corporate brands, events, fashion brands, food & drink, institutional, magazine brands, music, personalities, sports and television licensing to name a few.

 

The advantages of licensing for licensors

 

The main advantage for a licensor is the facility to use and develop its brand or property.

Licensing can achieve this by:

 

. Improving its brand existence at a retail or distribution outlet.

 

. Making further brand perception to support its core products or services.

 

. Providing and increasing its core values through various links with the licensed products/service or category.

 

. Coming into new markets (consumer or geographical) which were unfeasible with its own strengths.

 

. Making new revenue flows, often with little involvement or additional financial resources

 

The advantage of licensing for licensees

 

The main advantage for a licensee (particularly manufacturer or retailer) is the capability to considerably upsurge consumer interest in and sales of its products or services.

Licensing can achieve this by:

 

. Shifting the values and consumer favour towards the licensed product or service.

 

. Providing added value and differentiation in the competitive market.

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