Asked by
Sammy's Mango
on Nov 20, 2024Verified
In 2015, Nike signed an 8-year, $1 billion apparel deal with the NBA. This is an example of a deal for ________ rights.
A) branding
B) licensing
C) product line
D) rebranding
E) repositioning
Licensing Rights
Licensing rights refer to permissions granted by the owner of intellectual property (such as trademarks, patents, copyrights) to another party, allowing them to produce, sell, or use the property in specified ways.
Apparel Deal
An agreement or contract concerning the design, production, and/or distribution of clothing and accessories.
Rebranding
The process of changing a company's image, mission, or identity through a redesigned strategy, logo, and marketing materials to create a new perception.
- Explain the impact of licensing agreements on brand and product marketing.
Verified Answer
GM
Learning Objectives
- Explain the impact of licensing agreements on brand and product marketing.