Attendees of the webinar got their answer to this question in the form of seven easy steps, presented by Guinaudeau and moderated by Amanda Cioletti, vice president, content and strategy, License Global.
“Selecting the best license for your products can be a challenge when you consider the rapid change of pace, the rapid change in trends and particularly the different phases that consumers experience,” says Guinaudeau. “For specifically the entertainment-led brands, this is what makes them so attractive for brand extension.”
The webinar presented an in-depth look at the seven steps to predict what license will perform best at retail. Attendees learned to distinguish between "excellent” and “best” licenses, using a brand health tracker, to go beyond simple
Using insights from BrandTrends' groundbreaking research acquired from more than 40 countries, Guinaudeau walked attendees through the seven steps:
- Master your brand identity
- Know your consumers (better than they know themselves) and identify their emotional journey
- Understand the brand attributes of your target market
- Assign value objectives to your product line
- Search for all potential licenses
- Know your license selection criteria
- Negotiate compensation and deliverables
Using the Pokémon brand as an example, Guinaudeau went over these seven steps in detail, evaluating the consumer’s journey in relation to choosing a license.
Want to learn more? If you didn’t catch the webinar, you can still see it on-demand.
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