Answered: Analyze the growth of franchising and…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Analyze the growth of franchising and its advantages and disadvantages.

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Step 1

A business strategy for getting and keeping customers is known as Franchising. It is a type of process in marketing where an image of how can a product help the buyers is created in the minds of existing and future customers. It is thus an arrangement where a franchiser gives rights and licenses to the franchisee. It is well known strategy of expanding business. A contract is signed by the franchisee, where it gets to use the brand name, symbol and goods of the franchisor.

Advantages and disadvantages are given in the next step.

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