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A franchise is any arrangement in
which the owner of a trademark,
trade name or copyright has
licensed others to use it in selling
goods or services.
FRANCHISEE: A franchisee or
purchaser of a franchise is legally
independent but economically
dependent on the integrated
business system of the franchisor.
The franchisor is seller of
the franchise.
Leonard J. KonopaJournal of Marketing , Vol. 27, No. 2 (Apr., 1963), pp. 35-37Published by: American Marketing AssociationArticle Stable URL: http://www.jstor.org/stable/1248369
Leonard J. (1963) describes a franchise as a process which involves a manufacturing firm’s selection of a specific or limited amount of retail outlets to distribute their products in a specific manner.