In a competitive retail environment WRS Marketing Solutions is uniquely positioned to develop and manage successful licensing programs through our complete licensing services.
We become an integral part of our clients’ team, developing and executing licensing programs that fully leverage the value of their intellectual property, brands and related assets. With our diverse staff of licensing professionals, we build our clients’ licensing programs by utilizing four key strengths:
At WRS Marketing Solutions, we continuously monitor market trends to remain ahead of the curve. We utilize strategic planning and integrated marketing to establish strong, sustainable programs in a wide range of product categories and industry segments.
WRS Marketing Solutions recognizes that licensing success requires early retail awareness and support, and incorporates an integrated retail strategy in our overall licensing plan. We utilize our relationships with major retailers to develop strategic alliances and generate consumer excitement through shop concepts, fixturing, point-of-sale displays, retail promotions and sales incentives.
Licensing has become an important marketing tool for an increasing number of companies across all industries and product disciplines. In fact, it has become one of the most powerful contemporary forms of marketing and brand development. When used effectively, Licensing can increase the value of a brand by extending into new, relevant product categories, thereby generating significant ancillary revenues, expanding consumer awareness and reinforcing the brand’s image.
For the licensees, the benefits of using an already established brand name or character image that has been nurtured successfully over the years, allows the manufacturers of licensed products to create immediate consumer recognition for their products. This can be accomplished without making an investment that would usually be required for launching and building a new brand. In this way the licensee’s products instantly gain the benefits of the brand recognition and the brand image lent by the trademarks and copyrights. Additionally, consumers are usually willing to pay more for a known, credible brand name. The licensed brands benefits are realized instantly – eliminating the time and money it could take until the new product develops brand benefits similar to those that consumers associate with an already well-established brand.
The benefits to the licensor are linked to its brand extension and the enhancement of its brand image and goodwill at a consumer level without having to invest in the development, production, or marketing of a new product that may be outside the core competency. The licensor also receives legal protection, since licensing a brand for use in certain product categories prevents potential competitors from using the brand name to enter those categories.
While licensing is a simple concept, understanding the licensing industry jargon is an important first step. Licensing basics are provided here to get you started. If you would like more in-depth information, there are several books available on the subject, and you can visit the Licensing Industry Merchandisers’ Association web site www.lima.org.
The process of leasing a legally protected (trademarked or copyrighted) intellectual property. An intellectual property can be a name, likeness, logo, graphic, design, slogan, signature, character, or a combination of several of these elements, in conjunction with a product or a product line. An intellectual property can also be licensed for many non-product purposes, such as for a promotion or a service.
An already established brand name or character image or design that has been Trademarked, Copyrighted and nurtured successfully over the years.
The owner of the Intellectual Property.
The company/entity who acquires the contractual rights to license the Intellectual Property.
An agreement between the licensor and licensee granting legal permission for the licensee to use the licensor’s Intellectual Property. The document includes specific terms and conditions, such as scope of rights, territory, length of term, and financial remuneration to the licensor.
The basic component of financial remuneration paid by the licensee to the licensor, ranging anywhere from 3% to 18% (depending upon the product category) of the licensee’s sales of the licensed products. In addition, a guaranteed minimum royalty, or guarantee is typically required; payable to the licensor irrespective of whether the license results in any sales. A percentage of the guarantee is normally paid as an advance upon execution of the contract.
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