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Posted: July 16th, 2023
First, read Chapter 14 in the textbook. Then, imagine you are a licensing manager for a professional sports team looking to enter into a license agreement for a new licensed product.
In a 2- to 3-paragraph journal assignment, address the following:
Product Development: Identify which sports team you are representing and what product you would recommend for the team license. Why did you choose this product? What target audience will purchase it?
Considerations: What are some of the considerations sport organizations must make when entering into licensing agreements? Explain your reasoning.
Questions: What five questions would you ask the company to help you determine whether you should agree to a licensing deal? As you develop your questions, consider how sport organizations employ licensing strategies and protect trademarks to maintain brand and logo integrity.
Refer to Chapter 14 and other course resources to support your responses.
_______________________
Journal Assignment:
As the licensing manager for a professional sports team, I am representing the New York Yankees, a renowned Major League Baseball (MLB) team. For the team license, I would recommend developing a line of branded apparel and accessories. The New York Yankees have a massive and dedicated fan base, both within the city and across the globe. By offering a range of high-quality apparel items, such as jerseys, hats, t-shirts, and accessories like bags and wallets, we can tap into the passion and loyalty of the team’s supporters. These products will allow fans to proudly display their affiliation with the team and create a sense of belonging to the Yankees community.
When considering licensing agreements, sport organizations must take various factors into account. Firstly, they need to evaluate the reputation and credibility of the potential licensee. It is essential to partner with companies that have a proven track record in manufacturing and distributing licensed products. Additionally, the financial terms of the agreement, such as royalties and minimum guarantees, should be carefully negotiated to ensure a fair and mutually beneficial arrangement. The quality control and brand integrity are crucial considerations, as the sports organization must protect its trademarks and logos. The licensee should be committed to maintaining the integrity and authenticity of the team’s brand in the licensed products.
To determine whether a licensing deal is viable, I would ask the following five questions:
What experience does your company have in manufacturing and distributing licensed sports merchandise? I want to ensure that the potential licensee has a strong understanding of the industry and has successfully handled similar agreements in the past.
How will you ensure the quality and authenticity of the licensed products? It is crucial to maintain the brand integrity, and I want to know about the licensee’s quality control processes and measures to prevent counterfeit products.
What marketing and distribution strategies do you propose to promote and sell the licensed products? I would like to assess their marketing plans and distribution channels to ensure maximum visibility and availability of the products to the target audience.
Can you provide references from other sports organizations or teams you have worked with in the past? This question aims to gauge the licensee’s reputation and reliability by seeking testimonials from their previous partners.
What measures will you take to protect the team’s trademarks and logos? I want to know about the licensee’s commitment to upholding the team’s brand identity and their strategies for trademark protection against infringement or unauthorized use.
By asking these questions, I can gather essential information to make an informed decision regarding the licensing deal and ensure that the partnership aligns with the New York Yankees’ objectives of maintaining brand and logo integrity while offering quality products to our loyal fan base.
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