Licensing and Franchising Are Also Known as __________

question 67

Multiple Choice

Licensing and franchising are also known as __________.

• A)contract manufacturing
• B)diversification
• C)cooperative contracts
• D)investments

Identify the internal and external factors influencing buying decisions.

Learn how product information is internalized and influences the buying decision.

Understand the difference between product features, advantages, and benefits.

Learn effective strategies for handling objections in sales.

---

Definitions:

Extrinsic Rewards

Benefits given to an individual, such as pay, bonuses, or other incentives, which come from an external source rather than the satisfaction from the task itself.

Intrinsic Motivation

A drive to engage in activities due to internal rewards and personal satisfaction, rather than for external rewards.

Inherent Rewards

Inherent Rewards are the personal satisfaction and inner fulfillment individuals receive from engaging in meaningful work or accomplishing a task.

Gainsharing Plan

A performance-related pay strategy designed to involve employees in improving productivity through sharing the resultant financial gains.