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Development of strategies to enhance license relationships
> Licensor
> Licensee |
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Concept development refers to the creation of the licensed product positioning.The goal is alignment of the licensed product concept with key market dynamics.
The key objective of the concept development process is to establish the strongest possible product positioning, one that is consistent with the brand while appealing to consumers, retailers and prospective licensees.
Assessment Criteria
- Brand fit: brand equity, product attributes
- Appeal to the core consumers of licensor’s product
- Consumer impressions: in-store, in-home
- Category perceptions: positive, premium
- Product usage: frequency, occasions
- Product relevance, importance, trust
- Sales volume and trend
- Advertising and promotional support
- Category margins to support royalty
- Complementary distribution
- Royalty revenue potential
- Barriers to entry
- Regulatory and product safety issues
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License Sales activities start after the development phase is completed.
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