procedure of Licensing-tapa bilmedim bu haqqda Franchising is a form of marketing and distribution in which the owner of a business system (the franchisor) grants to an individual or group of individuals (the franchisee) the right to run a business selling a product or providing a service using the franchisor's business system.
Franchisees are also given permission to use the franchisor's branding, trademarks, and identifying marks under specified guidelines. It is important for anyone deciding to start a business by becoming a franchisee to remember that in franchising the franchisee is bound to a partnership agreement with the franchisor for a defined period of time (some exceptions do exist).
Franchising as we know it today is widely believed to have originated with Isaac Singer in the 1850s. After Singer invented his sewing machine he encountered two main problems when introducing it to the marketplace. The first was that customers needed to be taught how to use the new invention before they would buy it. The second was that Singer did not have enough capital to manufacture his machine in large numbers.
A joint venture (also known as a co-venture) is an arrangement between businesses in which the parties pool their resources to achieve a common goal. That goal may be a one-off project or an ongoing task. This means that a joint venture can be time-limited or ongoing. It can be run between companies in different spheres or between companies that would normally be competitors.
18. Give explanation with examples to product adaptation and standardization strategies.
In general the factors encouraging standardisation are (Global Agricultural Marketing Management, chapter 8):
1)economies of scale in production, marketing and R&D (reduced stock and development costs)
2)consumer mobility - the more consumers travel the more is the demand
3)technology
4)image, for example "Japanese", "made in".
5)global competition
The most important advantage of standardisation is the cost saving in compartments like Research and Development, marketing and production. In the compartment of Research and Development the forces and financial resources can be focused on one product without having the problem to adapt the product to the different cultures. So this department is able to work more effectively without having really high costs. In the marketing department it is the same: the focus is on one product and the work can be aligned on one campaign for the product. The marketing approaches like branding, packaging, etc. are standardized and make the market more unified. In the production there is a high cost saving because of the use of the same technology, same infrastructures. The firm must not adapt the equipment to local needs because it is selling the same product in other markets. The world is becoming more homogenized and the number of firms which use the strategy of product standardization is increasing, but still the strategy depends on which product is marketed and where they are marketed. Also a main point is that today quality is the most important point and standardising quality could be through the international Quality management tools (e.g. ISO 9000). Today it is easier to standardize quality and to guarantee quality in the international context.
Product adaptation refers to the process of making changes to a product to reach new or foreign customers and markets. A team may modify an existing product's features or use it as the base for a product sold to new markets.
This process often occurs when a team complies with a foreign market's regulatory or cultural needs. A team may also adjust elements of a product to make it more marketable to foreign customers, such as its packaging.
19. Clarify brand narratives and storytelling in marketing.
Brand storytelling is a marketing method that uses a creative narrative to connect a brand to its customers. This narrative often links a brand's mission to customer values to develop a stronger bond. Companies may use unique characters, settings and plots to develop their brand story. They can also draw on their company history, inspiration, goals, products and services to create a robust brand story.
Here are 14 types of brand storytelling you can test out in your next marketing campaign: