外文翻譯--品牌熱情的起因與效果-其他專業(yè)-展示頁
2025-01-31 10:02本頁面
【正文】 is crucial to the success of its retail outlets. Companies typically develop their brand image and trademark through extensive advertising and promotion. But a pany will benefit from massmedia advertising only if it has in place a number of stores that customers who see its ads can visit. To reap the benefits of its national or regional advertising efforts, the pany needs to attain efficient scale, in terms of number of stores, as quickly as possible. Because franchising entails less monitoring and provides quicker access to capital and managerial resources, a firm can expand more quickly that way than through panyowned stores. Faster expansion through franchising, in turn, allows panies to achieve moreor at least spread the costs outfrom their advertising dollars. Risk Management. In using franchising as a tool to determine the profitability of retail locations, franchisers can, over time, convert profitable franchised locations into panyowned locations. When opening new stores, a corporation does not know with certainty the business potential and the chances of success of different locations. Franchising allows a firm to judge the profitability potential of different sites without incurring business risk. If a particular store fails, the franchisee bears the brunt of the failure. Once the profitability of different locations is established, franchisers can bring the more profitable locations under pany ownership. Franchisers are not obligated to renew the franchise contract when it expires, so an ownership redirection strategy is theoretically possible. But because of ethical concerns, it may not be possible or advisable to implement such a strategy in a systematic Manner. ProductMarket Characteristics Shape Firms’Motivations to Franchise The various benefits discussed above are not mutually exclusive. In other words, a pany may be motivated to franchise by all of these benefits, or by some bination of them. Its productmarket characteristics shape the benefits it can expect to attain from franchising. For example, a firm may not find franchising an efficient means of raising capital if the size and scale of its stores require an investment that would be difficult for individual entrepreneurs to make. It is not practical for department stores or supermarket chains to franchise their stores because individual entrepreneurs would find it too difficult to make the investment required for setting up a large department store or supermarket. Productmarket characteristics, and their influence in deciding whether or not to franchise, differ for various firms. To evaluate the franchise option, a prospective franchiser needs to outline the linkages between the productmarket characteristics of its business and the different advantages franchising provides. An illustrative set of these characteristics and their implications for the franchising decision are discussed below. Price Competition. Pricing, a key marketingfunction, is often petitionbased. For example, when setting prices, a gas station has to take into conside
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