Beauty Business Exam Review

Front

Jamal is the proud owner of a newly opened establishment in the downtown area of his community. He has been hard at work these past few weeks in an effort to create his business's brand identity. Which of the following will Jamal want to focus on the MOST in those efforts? determining his business's point of difference, summarizing his projected financial statement and analyses, maintaining a regular and loyal clientele, outlining his employee and management levels and responsibilities

Back

determining his business's point of difference

Front

Given her financial constraints, which of the following is likely to be Laura’s BEST way to market her new beauty business?
Options: viral marketing, newspaper ads, direct mail, television spots

Back

viral marketing

Front

Kendra is considering opening her own full-service establishment. She has just begun taking preliminary steps in that direction. What she knows for certain at this early stage is that she wants to be in charge of making her own rules and is more than responsible enough to meet all of the duties and obligations of running a business. Which business model would MOST likely be best for Kendra? Options: franchise, corporation, sole proprietorship, partnership

Back

sole proprietorship

Front

The only way to guarantee that you will stay in business is to ______.

Back

take care of your clients

Front

If Maura wants to become a business owner, what will be her first objective toward achieving this goal?

Back

determining the feasibility of the business

Front

If Gwen engages in more viral marketing, what will this MOST likely mean?

Back

engaging in more social media campaigns

Front

A realistic benchmark for the net profit of a salon, spa, or barbershop is ______.

Back

15%

Front

How can Umberto demonstrate to Wilson that he is the sole proprietor of his establishment?

Back

He alone manages and assumes all of the expenses as well as receiving all profits.

Front

Ursula is working on a description of the key strategic influences of her business, including the varied services she will offer and the high quality she expects those services to provide. What, exactly, is Ursula working on?

Back

her mission statement

Front

What should be your primary concern when planning and constructing the best physical layout for the type of business you envision?

Back

maximum efficiency