stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Milady Chapter 10 Foundations Flashcards | StudBud
Explore
/
Milady Chapter 10 Foundations
Milady Chapter 10 Foundations
26 terms
·
StudBud Administration
·
41 plays
Imported from external platform
Flashcards
26 cards
F
Practice quiz
P
Host live
L
Questions
26
Answers
1
The modern version of word of mouth is ______.
viral marketing
television advertising
radio spots
billboard marketing
2
A realistic benchmark for the net profit of a salon, spa, or barbershop is ______.
15%
5%
75%
50%
3
What does it mean to engage in viral marketing?
creating glitzy ad pieces and mailing them out to the neighborhood
engaging in more social media campaigns
renting more booths or stations to up-and-coming beauty pros
buying expensive television advertising spots
4
An executive summary, financial documents, and supporting documents are all part of what?
Vision statement
Business plan
Mission statement
Organizational plan
5
Which of the following is the MOST important question to ask yourself when creating your brand identity?
What is my business’s point of difference?
Who are my potential customers?
Which employees should I hire?
What will my profits be in year one?
6
Which of the following types of business ownership is MOST likely to raise capital by offering stock to stockholders?
a single franchise
a corporation
a partnership
a sole proprietorship
7
Why will you need to purchase insurance when you open your own business?
It protects your clientele against falls and accidents.
It protects the general public against auto mishaps in front of your store.
It protects your staff against compensation loss for sick days.
It protects you against malpractice suits.
8
What is a description of the key strategic influences of business also known as?
Financial documents
Vision statement
Marketing plan
Mission statement
9
If you are an owner of a salon, spa, or barbershop, which of the following is TRUE?
You are guaranteed to have large profits.
There is no guarantee of any profits.
You are guaranteed to have losses.
You are guaranteed to have small profits.
10
Why is it important to have a keen business knowledge of the beauty industry?
because it will help you manage finances and business practices
because entrepreneurship is an essential part of beauty & wellness careers
Because eventually you must become a business owner.
because his renting a booth is the same as owning his own business
11
Which part of a business plan should outline all the research obtained regarding the clients your business will target?
organizational plan
mission statement
vision statement
marketing plan
12
How long is it MOST likely to take to determine and complete all of the aspects of starting your business?
6 months
1 year
10 years
1 month
13
Which business model will allow you to make your own rules and meet all of the duties and responsibilities on your own?
franchise
partnership
corporation
sole proprietorship
14
Marketing is the means for ______.
keeping your clientele satisfied
recruiting and hiring your staff
designing your salon, spa, or barbershop space
selling and promoting your business
15
Which of the following will allow someone to create a brand identity?
outlining his employee and management levels and responsibilities
summarizing his projected financial statement and analyses
determining his business's point of difference
maintaining a regular and loyal clientele
16
Which is an essential set of benchmarks that, once achieved, helps you to realize your mission and your vision?
policies
objectives
statements
goals
17
What is the first objective toward achieving a goal of becoming a business owner?
determining the long-range goals of the business
choosing a business location
choosing a business name
determining the feasibility of the business
18
When there are personnel problems, there are problems with the:
Marketing
Marketing
Employees
Landlord
19
The key duty of receptionists is ______.
greeting clientele at the door
answering the phone
assisting stylists with their work
booking appointments
20
Which part of your business plan should include a description of how the business will run administratively?
marketing plan
organizational plan
vision statement
mission statement
21
Which is NOT one of the top three ways that clients find a service provider, according to the PBA?
dissatisfaction with another service provider
recommendations or referrals
a convenient location
advertisements
22
Which is the MOST important reason to create incentives in the form of money or prizes for your employees?
Incentives can inspire employees to achieve more.
Incentives are a tax write-off.
Incentives can be in lieu of regular pay.
Incentives are appreciated by employees and clientele alike.
23
What does adding services and retail sales to your service tickets mean for your business?
additional clientele
additional revenue
additional advertising
additional risk
24
What is an outline of employee and management levels and responsibilities also known as?
an organizational plan
an executive summary
a mission statement
a marketing plan
25
The only way to guarantee that you will stay in business is to ______.
research emerging trends
take care of your clients
advertise
pay yourself well
26
What is the BEST way to market a new business with a low budget?
newspaper ads
television spots
viral marketing
direct mail
