At Untapped Agency, we are fortunate to live in a world of brand licensing. Now we can share a few examples why licensing should be the top priority for all CMO’s to attract new consumers.
As marketing professionals at our Agency Firm, we forged early careers managing retail brands from mass to prestige. Working in the retail brand environment, our role was to create the reason for a consumer to purchase our products and from our outlets. In mass retail this was price centric as brands for bargains. We worked for the retailer who purchased thousands of brands to make accessible to their customers. Flip to prestige and responsibility was for a premium brand within our consumer category, where retail focused on brand nurture, value-add, superior customer care and brand protection.
Marketing at this time was traditional. The Buyers in the company were responsible for brand extensions through sourcing of the innovative and new products and introducing consumers to complementary new product iterations. In the prestige brand, we were introduced with the product extension from our global head office.
Then we were introduced to licensing. Stepping out of retail into brand management. Licensing is brand management on a super scale. In all our marketing management, licensing was never mentioned. How could this be?
Our role is to manage the intellectual property on behalf of the Brand Owner to extend their brand out of its core category and into many new products, services and promotions. The brand owner continued in their core category as a market leader, creating, cultivating, deliver an authentic experience and a superior product/service. The depth of these attributes are then used by our Agency to translate these into brand extensions. New products, new services, new channels, new markets. The brand slowly becomes a lifestyle where consumers can engage outside the core. At Untapped Agency, we are fortunate to have represented a few of the biggest brands on the planet and the most iconic – Disney, Warner Bros, Ford and Jim Beam to name a few. Leaders in leveraging their brand assets into creating multiple income streams from incredibly lovable and innovative goods and experiences.
Here is the licensing rationale examples for marketers who are unfamiliar with brand licensing.
“I buy into the Energizer brand – the bunny that goes on and on and on – so I will feel confident buying Energizer branded flash drives, power extension leads and car battery jump starter leads. I attribute the brand values of Energizer batteries across all other products that bear their name. These latter products are licensed. This means that Energizer did not make these but the licensed third party, who are market leaders in these products and now badging these with the Energizer brand allowing new product innovations and new retail categories, even new retail channels.
I have used Vicks on my chest with every winter cold. I trust this brand. So when my infant son was unwell I invested in the Vicks Vaporizer as I believed that this was the best on the market to use in conjunction with the Vicks vapour solution. Proctor & Gamble did not make the vaporizer, they licensed this to a market-leading healthcare devices and hone comfort products manufacturer.”
So this is licensing. As a marketing leader for your brand, how can you reach into your brand attributes and seek to create the ultimate marketing programme through enabling new products to be created that enhance your consumer engagement?
If you want to learn more, we welcome you to attend our Brand IP Licensing courses for company leaders. Designed specifically for Chief Marketing Officer, you are exposed to brand licensing and develop the skills and knowledge to create a case for licensing in your company. Licensing incorporates marketing, sales, finance and law and is the trending growth strategy for innovative brands.
To successfully venture into licensing, control of your brand is mandatory. Untapped Agency offers Trademarks Attorney services and is a Licensing Agent for Brand Owners, Licensees, Manufacturers and Retailers. We extend iconic brands, copyright, fashion, designs, innovations and trademarks into innovative, new consumer products, services and promotions.