Asked by Andrea Barisic on May 03, 2024
Verified
For a cost, Huma can open up a Jimmy John's store in her hometown of Detroit, Michigan. The parent company has agreed to let Huma use its company name. Additionally, the company will give her support for her operational and marketing efforts. What type of market entry strategy is this?
A)licensing
B)franchising
C)joint venture
D)direct ownership
E)contract manufacturing
Franchising
A business model whereby the owner (franchisor) of a product, service, or method obtains distribution through affiliated dealers (franchisees).
Market Entry Strategy
The planned method of delivering goods or services to a new target market and distributing them there.
Operational Support
Services and activities that assist in the day-to-day functioning of a company or organization.
- Recognize the components of the marketing mix and their functions within marketing strategy.
- Identify approaches to grow a business globally, including exportation, licensing, and acquiring direct ownership.
Verified Answer
Learning Objectives
- Recognize the components of the marketing mix and their functions within marketing strategy.
- Identify approaches to grow a business globally, including exportation, licensing, and acquiring direct ownership.
Related questions
Selling Domestically Produced Products to Foreign Markets Is Called
Product,price,place,promotion,and People Are Known as the Five Ps of the ...
The Place Element of the Marketing Mix Involves the Activities ...
The Marketing Concept Is Also Referred to as the Four ...
A Firm That Is Deciding Whether It Will Use Advertising ...