There are a number of requirements to develop successful licensed products. The “metrics” listed below can be used to evaluate licensing strengths and weaknesses.
I. Brand
- Brand Strength: Awareness, Tradition, Trust
- Brand Relevance: Relevance, Authority
- Brand Support: Promotion, Consistency
- Brand Appeal: Loyalty, Price Premium
II. Product Category
- Concept Viability: Feasibility, Extensions, Distribution
- Concept Uniqueness: Features, Style, Brand Differentiation
- Concept Brand Fit: Imagery, Demographics
- Licensee Appeal: Investment, R.O.I., Payback, Licensing Success
- Retailer Appeal: Familiarity, Gross Margins, Licensing Success
- Consumer Appeal: Quality, Value, Product Differentiation
- Sales Potential: Market Size, Demand, Competition
III. Licensor support
- Staff Availability and Budget
- Marketing Plan Development
- Advertising Strategy
- Cross Promotions and Tie-ins
- Sales Plan Coordination