The Blake Project, the brand consultancy behind Branding Strategy Insider, delivers interactive brand education workshops and keynote speeches designed to align marketers on essential concepts in brand management and empower them to release the full potential of the brands they manage.
One of the current siren songs of marketing is the opportunity to earn some extra money by licensing your brand name. Someone comes up to you and offers you a deal you can't refuse. After all, you're playing with other people's money. It's also long-term trouble for your brand.
It all begins, in many instances, with a licensing agency that goes out and hustles your brand. Here's an actual example from a Web site:
"We are the licensing agency for Pratt & Whitney Corporation. Pratt is interested in licensing companies the rights to produce and market products under the Pratt & Whitney brand name. Categories that we are currently in discussions with companies include power generators, aviation tools (power, air, hand tools), pilot accessories, welders, air compressors, power washers, tow units, engine stands, aviation electronics (headsets, GPS, radios, etc), outdoor power equipment and small engines. If you are interested in becoming a Pratt & Whitney licensee to capitalize on the worldwide recognition of the Pratt & Whitney brand, then please contact me."
There you go. Instead of focusing on being the No. 2 jet engine in the world and figuring out how to sell against General Electric jet engines, they want to become everything they can think of and then some. Not good marketing, but it's someone else's money.Read More