In the Opening Vignette,it Is Suggested That It Costs About

question 28

Multiple Choice

In the opening vignette,it is suggested that it costs about _________ as much to gain a new customer as it does to keep an existing one.

• A)twice
• B)two times
• C)one hundred
• D)five times
• E)ten times

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Definitions:

Business-Format Franchising

A franchising arrangement where the franchisor provides the franchisee with a comprehensive system for managing the business, including brand, operational procedures, and ongoing support.

Bakery Franchise

A business system where individuals or entities purchase the rights to open and operate a bakery store under a larger company's brand and operational model.

Exclusive Territory Rights

The privilege granted to an entity allowing it to operate or sell within a specific geographic area without competition.

Overlapped Franchise Areas

Regions where the territories or markets of two or more franchise operations intersect or coincide, potentially leading to competition between them.