A Priceless Source of Information About a Prospective Franchise That

question 25

Multiple Choice

A priceless source of information about a prospective franchise that cannot be obtained from trade associations or from the franchisor can come from which of the following?

• A) Legal records
• B) Current and former franchisees
• C) The franchisor
• D) Current customers

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Definitions:

Transactional Marketing

A business strategy focusing on single, "point of sale" transactions, emphasizing maximizing the efficiency and volume of individual sales rather than developing a relationship with the buyer.

Buyer-Seller Relationship

The interaction and ongoing connections between a buyer and a seller, often focusing on long-term engagement rather than one-time transactions.

Market Planning

It involves a comprehensive strategy for marketing products and services which includes setting objectives, analyzing the market, and implementing tactics to reach business goals.

Tactical Planning

Short-term, specific planning that supports strategic planning by focusing on current operations and immediate actions.