The Main Advantage of Licensing as a Strategy to Exploit

question 61

Multiple Choice

The main advantage of licensing as a strategy to exploit innovation is

• A)it requires little involvement in complementary resources by the innovator.
• B)it's a way to operate as a virtual company.
• C)it saves on costs, so is vastly more profitable for the innovator.
• D)it's always successful and highly profitable.

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Definitions:

Market Segmentation

The practice of categorizing a market into distinct subsets of customers with common needs or characteristics.

Brand Positioning

The process of placing a brand in the marketplace and in the minds of consumers by differentiating it from competitors, focusing on unique attributes or benefits.

Logistics Supplier

A company that provides services related to the management, transportation, and storage of goods.

3PL

Third-party logistics, which refers to the outsourcing of supply chain functions and logistics to an external service provider.