________ is pursued primarily by manufacturing firms and ________ is employed primarily by service firms. Select one: a. Licensing; franchising b. Exporting; licensing c. Franchising; exporting d. Franchising; licensing
Question
________ is pursued primarily by manufacturing firms and ________ is employed primarily by service firms.
Select one:
a. Licensing; franchising
b. Exporting; licensing
c. Franchising; exporting
d. Franchising; licensing
Solution 1
The question seems to be incomplete. Could you please provide the full question or the context?
Solution 2
The correct answer is:
a. Licensing; franchising
Licensing is a business arrangement in which one company gives another company permission to manufacture its product for a specified payment. This is a strategy primarily used by manufacturing firms.
Franchising, on the other hand, is 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. This is a strategy primarily used by service firms.
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