Chapter 9, Problem 8QA

Summary Introduction

To describe: The meaning of “License a Brand” and Co-branding.

Introduction:

Brand: is defined as an identity in the form of mark, symbol, name, or logo given to a product produced by a company to distinguish that product with other products.

Various branding strategies are licensing a brand and co-branding.

Licensing a brand:

is defined as a branding strategy wherea company provides its brand name to another company or to an individual who wants to use the brand for their own products on rent for a specified period of time is known as licensing a brand. A brand is an intangible asset, therefore, it can be leased or rented by another company or individual.

For example: M companyused its logo to increase brand awareness by taking the help of Monopoly under license.

Cobranding:It is a marketing strategy in which multiple brand names are utilized on a product to increase its reach and to create a buzz among the customers. It is a kind of strategic alliance between multiple brands to lift up a product among the customers.

For example: NK+: A strategic alliance between APL company and NK company to track the activities of a person in athletic gear though APL brand’s watch and smartphone Applications.