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WAEC Marketing 2024 Question 35

Question 35

International Marketing

The process of entering a new market by paying a fee for using another company's brand name is

  1. A.exporting.
  2. B.licensing.
  3. C.direct ownership.
  4. D.joint venture.
Show the answer and explanation

Answer: B (licensing.)

Explanation

Licensing gives the right to use another firm's brand name or technology for a fee.