When a Firm Allows Others to Use an Entire Business

question 21

Multiple Choice

When a firm allows others to use an entire business system in exchange for compensation, the arrangement is known as ________.

• A) industrial design rights
• B) franchising
• C) joint venture
• D) equity venture

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Definitions:

Text Message

A form of electronic communication sent and received over a phone network, typically consisting of short messages.

Sales Promotions

Short-term incentives aimed at encouraging the purchase or sale of a product or service.

Advertising

The activity or profession of producing advertisements for commercial products or services.

IMC Manager

A professional responsible for managing Integrated Marketing Communications, ensuring consistent messaging across all marketing channels and strategies.