Identify the Three Characteristics That Distinguish Franchises from Other Forms

question 124

Essay

Identify the three characteristics that distinguish franchises from other forms of corporate retailing.

Grasp the various tools for measuring the impact of PR and media relations, along with their advantages and flaws.

Comprehend how impressions are determined in media and the inherent flaws in these methods.

Learn the components of an effective pitch and the preparatory steps required.

Analyze how political candidates leverage media for coverage.

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Definitions:

Marginal Cost

An increase in the full cost that comes from producing an additional unit of a product or service.

Monopolistic Competition

A market structure characterized by many firms selling products that are substitutes but not perfect substitutes, leading to each firm having some market power.

Perfect Competition

A market structure characterized by an infinite number of small firms, identical products, and easy market entry and exit, leading to companies not having pricing power.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, allowing for some differentiation and price control.