What statement about estheticians is correct?

It's their responsibility to make recommendations to clients

Who governs the packaging and labeling of all food, drugs, and cosmetics?

Food and Drug Administration (FDA)

What statement about small-business loans is correct?

To obtain them, you must qualify as a good credit risk

What does tracking the performance of products and services help you to do?

identify what is popular with clients and what is not

When are quarterly tax payments due?

April 15, June 15, September 15, and January 15

What must you do before you begin to develop your marketing plan?

decide on the main focus of your business

What statement about television advertising is correct?

Its a great opportunity to reach large numbers of clients

What helps with challenges associated with maintaining a competitive business edge?

focusing on the needs of the customer

What statement about the marketing budget is correct?

Successful marketing requires ongoing financial commitment

What are the four P's?

product, price, promotion, and place

What is the MOST important factor in any business plan?

solid financial management strategy

What statement about the federal unemployment tax is correct?

Employers are responsible for paying this tax

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New Master Chapter 29&30

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Questions 33

Answers

1
What is a key marketing piece that lists all treatments and services available at your salon?
print newsletter
menu of services
email newsletter
press release
2
What statement about estheticians is correct?
The main focus of their selling efforts should be to make $
It's their responsibility to make recommendations to clients
The marketing plan should have no influence on sale training
They should not be actively involved in promoting the salon
3
What term refers to anything that a business owns?
fixtures
assets
liabilities
equipment
4
What is an example of an indirect cost of performing a service?
time
rent
materials
labor
5
What is NOT a type of insurance generally recommended for salon and spa owners?
malpractice
disability
protection and indemnity
property or casualty
6
Who governs the packaging and labeling of all food, drugs, and cosmetics?
Better Business Bureau (BBB)
Federal Trade Commission (FTC)
Food and Drug Administration (FDA)
Centers for Disease Control and Prevention (CDC)
7
What is an example of paid advertising?
press release
radio commercial
buy-one-get-one-free promotion
personal selling
8
What is a consumer?
company that sells something
person who buys something
person who handles the day-to-day management of a busness
person who owns a business
9
What is the basic tool that business owners use to help make a plan of action and avoid risk?
financial strategy
risk assessment plan
management plan
business plan
10
What statement about small-business loans is correct?
Falling behind on loan payments will not affect the business
The only place to obtain a loan is a traditional bank
They are typically interest-free
To obtain them, you must qualify as a good credit risk
11
What does tracking the performance of products and services help you to do?
determine the best media outlets for advertising
identify what is popular with clients and what is not
gauge the productivity of each member of your staff
decide whether to hire additional employees
12
When are quarterly tax payments due?
April 1, June 1, September 1, and January 1
January 1, April 1, July 1, and October 1
April 15, June 15, September 15, and January 15
January 15, April 15, July 15, and October 15
13
What is an example of a private (non-governmental) agency that protects the consumer?
Better Business Bureau (BBB)
Food and Drug Administration
Federal Trade Commission (FTC)
Consumer Product Safety Commission (CPSC)
14
What should every sales promotion focus on?
small discounts that wont eat into the salons profits
value to the consumer
introducing the salon to a totally new customer
increasing sales of less popular products and services
15
What are the four P's also commonly known as?
business plan
retail strategies
marketing mix
advertising principles
16
What is NOT one of the ways in which skin care businesses commonly compensate providers?
tips
fixed wages
commission
salary
17
What term refers to the amount of money you need to invest in your business?
capital
promissory funds
investments
constituency
18
What term refers to the strategies used to persuade other to purchase products and services?
product
place
promotion
pricing
19
What is typically the biggest expense for a business?
payroll
mortgage or rent
supplies
utilities
20
What term refers to a business strategy for how ideas/goods/ services are bought or sold?
advertising
networking
promoting
marketing
21
What must you do before you begin to develop your marketing plan?
decide on the main focus of your business
determine how much of your budget will be used for marketing
put together a good public relations program
identify the media outlets that reach your target audience
22
What are the two important factors upon which a successful direct marketing campaign is based?
offer and target audience
esthetician and client
budget and results
print and broadcast ads
23
What is the MOST valuable asset in any business?
supplies
building
customers
equipment
24
What statement about television advertising is correct?
Continuity is unimportant with television advertising
Cable TV ads are usually more expensive that network TV ads
It is the most common form of advertising use by small spas
Its a great opportunity to reach large numbers of clients
25
What term refers to the point at which all costs are covered and your business begins to profit
cash flow
break-even analysis
gross profit
net profit
26
What form is used to verify that an employee is eligible to work in the United States?
Form W-4
Form SS-4
Form 1040
Form I-9
27
What helps with challenges associated with maintaining a competitive business edge?
choosing one media outlet for all your advertising
always changing the product and services offered in the spa
focusing on the needs of the customer
focusing on business revenues
28
What statement about the marketing budget is correct?
Successful marketing requires ongoing financial commitment
marketing costs increase once people recognize the brand
It should be based on a percentage of the annual budget
You should cut it back during times when sales are sluggish
29
What are the four P's?
proprietorship, progress, production, and promotion
professionalism, patience, productivity, and pride
professionalism, place, progress, and price
product, price, promotion, and place
30
What is the MOST important factor in any business plan?
thorough executive summary
solid financial management strategy
comprehensive strategic design and development plan
detailed operations plan
31
What statement about the federal unemployment tax is correct?
Employees are responsible for paying this tax
Employers are responsible for paying this tax
The program is fully funded by the federal government
Employers+employees are required to contribute to this tax
32
What term refers to a legal document that clearly defines the terms of a loan agreement?
promissory note
income statement
break-even analysis
risk statement
33
What term refers to any direct attempt to reach the consumer?
public relations
advertising
direct marketing
personal selling

New Master Chapter 29&30 Flashcards | StudBud