Brand and Position Standard 1 Objective 1, 2 What’s Your Brand Brand and Position Standard 1 Objective 1, 2

Branding and Licensing Step 1- Identify Where to Play This step is used to determine where the brand has permission to enter. In other words, what categories can the brand extend into? Corporate (John Deere, Coke) Character (Simpsons, Mickey Mouse) Fashion (DKNY, Under Armour) Technology (iPod, Xbox) etc Branding and Licensing

Branding and Licensing Step 2 – How to Win In this step the brand owner must assess what is the best method to enter the market for each new category – by manufacturing themselves, by sourcing, by acquisition or by licensing the brand to a third party. Branding and Licensing

Branding and Licensing Step 3 – Prospect Licensees In this step, the brand owner scours the market for best-in-class manufacturers in a particular category who may be suited to license their brand. Branding and Licensing

Branding and Licensing Step 4 – Due Diligence After the brand owner identifies several candidate manufacturers they must determine if the candidates are qualified to become a licensee. reasonable steps taken by a person in order to satisfy a legal requirement, especially in buying or selling something. Branding and Licensing

Branding and Licensing Step 5 – Define Opportunity Here the brand owner and manufacturer determine the scope of the licensing opportunity as measured by sales, royalty revenue and product Stock Keeping Units. Branding and Licensing

Branding and Licensing Step 6 – Negotiate a Contract In this step, the brand owner and manufacturer agree to the deal terms and execute the contract. Branding and Licensing

Branding and Licensing Step 7 – Orientation Once the contract is signed, the opportunity to create newly branded products begins.  The first critical step is the orientation meeting. Branding and Licensing

Branding and Licensing Step 8 – Business Planning To help ensure long-term sustainable growth for the license, there must be a business planning process. This step defines how to get started. Branding and Licensing

A brand name identifies a specific product or name of a company. A brand name evokes positive images or emotions in consumers In some cases, the brand name becomes part of the everyday vernacular such as Kleenex (R) to mean tissue  A trade name is the official name under which a company does business.  It does not afford any brand name protection It does not provide you with unlimited rights for the use of that name Brand v Trade

Brand Names and Logos

ow a new firm enters a market can happen in a number of ways: 1 Take Over 2 Diversification 3 Competitive Advantage 4 Demand Bargaining power is the relative ability of parties in a situation to exert influence over each other. buyer bargaining power refers to the pressure consumers can exert on businesses to get them to provide higher quality products, better customer service, and lower prices. The presence of powerful suppliers reduces the profit potential in an industry.Suppliers increase competition within an industry by threatening to raise prices or reduce the quality of goods and services Asubstitute product is one that may offer the same or similar benefits to a company as a product from another industry.  Positioning