Licensing Process Quiz

What are some factors that influence the appeal of licensing?

• High manufacturing costs, low brand recognition, limited distribution

• Intangibility of sports, consumer affinity for favorite teams, brand awareness

• Celebrity disfavor, slow styles change, low advertising costs

• Tangible nature of sports, consumer indifference, low brand awareness

What does licensing provide for the licensor?

• No control over the product, decreased brand equity, higher costs

• Approval of the product, collection of licensing fees, royalties

• Limited distribution, lower shelf space, decreased brand awareness

• Greater risk, limited promotion, legal protection

What are some advantages for licensees in the licensing process?

• Negative association with sports, limited brand awareness, high advertising costs

• Initial distribution with retailers, lower prices, potential for failure

• Limited shelf space, high manufacturing costs, low profitability

• Positive association with sports, greater brand awareness, connection with athletes

What is a potential risk for licensees in the licensing process?

• Positive association with sports, greater brand awareness, connection with athletes

• Increased possibility of success, lower advertising costs, higher prices

• High royalties, expensive manufacturing costs, negative impact on market share

• Athlete performance, slow styles change, low competition

What are some advantages for licensors in the licensing process?

• Expansion into new markets, increased brand equity, enhanced company image

• Limited distribution, lower shelf space, negative association with sports

• Negative impact on market share, high competition, low brand awareness

• Decreased brand equity, minimized risk, limited profit

What is a potential risk for licensors in the licensing process?

• Decreased brand equity, minimized risk, limited profit

• Potential for licensee's poor quality products, high competition, low brand awareness

• Increased possibility of success, lower advertising costs, higher prices

• Expansion into new markets, increased brand equity, enhanced company image

What do licensees pay in the licensing process?

• Fees for using specific logos, slogans, and manufacturing costs

• Fees for using specific logos, manufacturing costs, royalties for using athlete images

• Fees for using specific logos, slogans, and trademarked images

• Fees for manufacturing products, royalties for using athlete images

What are some examples of music licensing?

• Listening to music on the radio, watching a movie, hearing music in a restaurant

• Watching a movie, listening to music on Spotify, watching American Idol

• Listening to music on the radio, watching American Idol, watching a movie

• Listening to music on Spotify, hearing music in a restaurant, watching a movie

What is the impact of licensing on consumers?

• Decreased cost for licensed products, higher demand, wide distribution

• Decreased cost for licensed products, lower demand, limited distribution

• Increased cost for licensed products, higher demand, wide distribution

• Increased cost for licensed products, lower demand, limited distribution

What are the 3 P's of licensing?

• Profit, Promotion, Protection

• Placement, Packaging, Positioning

• Product, Place, Price

• Price, Production, Publicity