Discuss the Advantages of Licensing and Franchising

question 54

Essay

Discuss the advantages of licensing and franchising. In what situations is each of these strategies most appropriate?

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Definitions:

Situation Analysis

Situation analysis is the process of evaluating the current state of a business or project, including internal and external factors, to inform strategic planning.

Target Market Segment

A specific group of consumers identified as the intended recipient of a marketing strategy or campaign.

Strategic Business Unit

A division or unit within a larger company that focuses on a specific market sector or product line.

Savory Seasonings

A variety of herbs, spices, and other flavorings that enhance the taste of food without sweetness.