Greetings!
I'm not sure how many of you went to see the premiere of Iron Man 2 this past weekend. The movie earned more than $130 million in box office sales which suggests a lot of you did. The total sales were enough to land it into the #5 position for all-time top-grossing opening weekends. The movie, which features Robert Downey Jr. as millionaire Tony Stark, received terrific reviews. The critics' praise should help Iron Man 2 continue to hold onto the #1 spot as we head into the summer season. On the heels of the original, Iron Man 2 is expected to gross over $100 million in licensed merchandise sales, making it one of the biggest programs to date.
We continue our series on the Pitfalls of Brand Licensing with the challenges faced when licensees get caught "Logo Slapping." I hope you find it beneficial.
Sincerely,
Pete Canalichio
Vice President Business Development
The Licensing Book Features "Three Ways to Expand the Licensing Value of Your Brand"
Pete's article on "Three Ways to Expand the Licensing Value of Your Brand" was published this week in The Licensing Book (pages 60 - 61).
The Licensing Book - Three Ways to Expand the Licensing Value of Your Brand
To best help you understand how to expand the licensing value of your brand, let's take a step back and reflect on why companies choose to brand their products in the first place. Companies brand their products to differentiate them from their competitors'. For example, most consumers have no problem differentiating a Coke from a Pepsi. By giving their products a brand, companies can begin a dialogue with their consumers about their products' attributes. Over time...
Read the entire article at http://viewer.zmags.com/publication/5ffecae8#/5ffecae8/60
Pitfalls of Brand Licensing: "Logo Slapping"
Licensees often do not understand that the licensor expects them to custom design the attributes of the brand into their products. Instead, many think they can simply apply the licensed trademark (logo) to the their already developed product. This practice is known in the industry as "logo slapping."
If a licensee submits a product for approval that has been "logo slapped," it is likely the licensor will disapprove the product. Licensors expect the licensee to create their products with the same rigor they would employ if they were developing it in-house. To do this, licensees need to understand the brand architecture and follow the brand style guide carefully.
For a licensee, trying to meet retailer deadlines, an unexpected rejection can lead to frustration, lost time and money. To avoid this, the licensor and licensee must enter their agreement with a clear understanding of the brand's expectations and the approval process. This will help ensure the licensed products meet the brand promise not just the first time but every time.