MKT333_exam2Q's

MKT333_exam2Q's - Marketing 333 Midterm II Review Essay...

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Marketing 333 Midterm II Review Essay Questions (25 – 31) #26) A franchise is a continuing relationship in which a franchisor grants to a franchisee the business rights to operate or to sell a product. The franchisor is the originator of a trade name, product, methods of operation, and so on, that grants operating rights to another party to sell its products. Franchisee is an individual or business that is granted that right to sell another party’s product. The franchisee, in return, pays the franchisor for the rights to use its name, product, or business methods. A franchise agreement between two parties usually lasts for 10 to 20 years. The success of franchising is 1) raising money and 2) commitment to small business and the marketing impact of a large business. A written contract is what ties the franchiser to the franchisee. #27) Two major trends are evident in retailing today. First, adding interactivity to the retail environment is one of the most popular strategies in retailing in recent years. Small retailers as well as national chains are using interactivity to involve customers and set themselves apart from the competition. For example, retailers have used the “entertainment” retailing such as playing music, showing videos, hosting special events, and sponsoring guest appearance. Second, m commerce (mobile e-commerce) is gaining in popularity. M-commerce enables consumers to purchase goods and services using wireless mobile devices, such as mobile telephones, pages, PDAs, and handheld computers. M-commerce saves times and offers more convenience in a greater number of locations. #28) Marketers segment markets for three important reasons: 1) segmentation enables marketers to
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MKT333_exam2Q's - Marketing 333 Midterm II Review Essay...

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