Examlex
CisTech is test marketing its new computers by measuring consumer responses to the new computers and its marketing tactics in laboratory stores.CisTech is using controlled test marketing in this scenario.
Franchising
A business model that allows individuals to operate their own outlets of a larger chain, sharing in the brand, products, and operational support.
Royalties
Payments made to the original creators or owners of intellectual property for the right to use their work.
Franchisor
A business entity that grants the right to use its brand, products, and operational model to an individual or company (franchisee) in exchange for a fee.
Entrepreneurship
The act of creating, managing, and running a business venture in order to earn profit by taking various risks in the corporate world.
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