Which of the following is an example of brand licensing?

Brand licensing refers to the practice where a brand owner permits a third party to use its brand name, logo, or characters on products or services, typically in exchange for a fee or royalty. Using Disney characters on merchandise by third parties is a prime example of brand licensing because it involves Disney granting permission to another company to incorporate its well-known characters into their own products. This arrangement allows the third party to benefit from the established brand equity and recognition of Disney while generating revenue for both parties involved.

In contrast, creating a new product line under the same name does not involve third-party usage or consent, thus it does not illustrate brand licensing. Developing a trademark without external licensing indicates an internal branding effort without external partnerships or agreements. Offering discounts on branded products relates more to marketing strategies than to the concept of licensing, which focuses on the authorized use of a brand by an outside entity.