Which Type of Retail Ownership Is Owned and Operated by an Individual

question 145

Multiple Choice

Which type of retail ownership is owned and operated by an individual but is licensed by a larger supporting organization?

• A) independent retailer
• B) chain store
• C) franchise
• D) cooperative
• E) secondary retailer

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Definitions:

Dynamic Pricing Policy

A pricing strategy where prices are variable and can change in response to market demand or other external factors.

Loss-leader Pricing

A marketing strategy where a product is sold at a loss to attract customers in the hope they will make additional purchases.

Customary Price

The expected or typical price range for a product or service within a particular market or industry, based on tradition or standard practice.

Nationally Branded

Products or services that are marketed under a manufacturer's brand name and widely recognized across a country.