What Is an Employee Participating in When He/she Recognizes That

question 76

Multiple Choice

What is an employee participating in when he/she recognizes that the use of a new product can potentially improve the company's market performance?

• A) need or opportunity recognition
• B) identification of suppliers
• C) word-of-mouth exploration
• D) information search

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Definitions:

Local Market Conditions

The specific characteristics and dynamics of a market within a localized area, including factors such as demand, competition, and regulatory environment.

Global Market

A market that transcends national borders, encompassing worldwide commerce and trade.

Franchising

A method of distributing products or services involving a franchisor, who establishes the brand’s trademark or trade name and a business system, and a franchisee, who pays a royalty and often an initial fee for the right to do business under the franchisor's name and system.

Licensing

The act of granting permissions to individuals or entities to use patented or copyrighted material, trademarks, or technology owned by another party, under agreed terms and conditions.