Word: brands
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Dates: during 1990-1999
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...SAMPLE MENU] BREAKFAST Carbohydrate Addict's brand French toast and syrup (both low carb), coffee, tea or diet soda...
...market of unauthorized Chevy baseball caps and Corvette T shirts that were obviously striking a chord with consumers. That's when it hit Enborg that it would be easier--and more profitable--for the automaker to meet the obvious market demand for those goods itself by licensing its brand names to handpicked manufacturers. Today, GM has more than 1,200 licensing agreements generating annual revenues of $1.1 billion. They cover everything from clothes to colognes...
...others pay for all the things you'd like to do [with the brand] but your shareholders won't pay for," says John Maries, general manager of the Jaguar Collection. For even smaller but ultra-exclusive companies, like sports-car maker Aston Martin, licensed products can help boost a low profile. Aston Martin has only recently launched its licensing program. And, befitting the producer of a car made famous by James Bond, it's sticking with toys for big boys. Its two initial products are expensive model cars and a Sony video game...
Successful brand-extension licensing operations look easy, but they require foresight and thought. "It shouldn't be misconstrued by companies as a freebie," says Equity Management's Konkle. Every brand has a "core equity," which is its image--what it stands for in the minds of consumers. Is it a premium brand? Does it signal value? What image does it conjure up? "You can't just put out a doodad with a name slapped on it," insists Michael Stone, co-director of New York's Beanstalk Group, another large licensing agency. Missteps abound among those who have held that simplistic...
...homing in on your target audience. Though Europe clearly offers new licensing opportunities for its own firms and foreign ones, it still cannot be viewed as one big market of 370 million undifferentiated consumers. Cultural and language barriers are very much a factor in consumer choice. And some brand images vary from country to country. BMW cars, for instance, aren't considered to be particularly top of the line in Germany, but are considered luxury cars in much of the rest of the world. Rovers are commonplace in Britain, but they are seen as classy foreign imports in Southern Europe...