You are on the World Triathlon Corporation (WTC—the owners and producers of the Ironman Triathlon World Championship event in Hawaii) licensing team. You and your team have been asked by the President (Ben) to develop a licensing plan.
As a first step, he has requested that you watch the event in order to identify potential brand and merchandise (and other) licensing opportunities for the Ironman brand. While watching the event, identify as many licensing opportunities as you can find/create. As you create your list, remember that licensing may include more than just physical products—think outside the box. You will be attempting to strategically identify possible products/categories or other properties/opportunities surrounding the Ironman event/brand to license to potential licensees.
The second step is to state three licensing business objectives for the WTC licensing plan. Be clear and specific.
The third step is to prioritize all of the “licensing opportunities” that you identified for each of the three objectives you stated. Note that the priority of the specific licensing opportunity may change depending on the objective.
Finally, discuss how the opportunities you have identified align with the business objectives for the WTC plan.