Business Quiz

What should Jamal focus on most to enhance his business's brand identity?

• Outlining employee and management responsibilities

• Maintaining a regular and loyal clientele

• Determining his business's point of difference

• Summarizing his projected financial statement and analyses

Considering her financial constraints, what is the best marketing strategy for Laura's new beauty business?

• Direct mail

• Viral marketing

• Newspaper ads

• Television spots

Which business model is most suitable for Kendra, who wants to control all aspects of her business?

• Franchise

• Sole proprietorship

• Partnership

• Corporation

Why does Raul advise David to come up with a thorough vision statement for his business?

• Because a vision statement would give a long-term picture of what the business is to become.

• Because a vision statement would provide an outline of employee and management levels.

• Because a vision statement would project financial statements and provide financial analysis.

• Because a vision statement would outline all of the research obtained regarding client needs.

What is the only way to guarantee that you will stay in business according to the text?

• pay yourself well

• research emerging trends

• take care of your clients

• advertise

What should Maura determine first to achieve her goal of becoming a business owner?

• choosing a business name

• determining the long-range goals of the business

• determining the feasibility of the business

• choosing a business location

What is Gwen most likely to engage in to improve her business according to her assistant manager, Darlene?

• Creating glitzy ad pieces and mailing them out

• Renting more booths or stations

• Buying expensive television advertising spots

• Engaging in more social media campaigns

What is a realistic benchmark for the net profit of a salon, spa, or barbershop?

• 15%

• 50%

• 5%

• 75%

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

• He specifically set up his shop to be controlled by only a small number of stockholders.

• He and his business partner each invested half of the capital to open the business.

• He is in charge of his own booth and only pays the business owner a monthly rental fee.

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

What is Ursula working on for her business?

• A description of the key strategic influences of her business

• A list of varied services she will offer

• A plan for high quality service expectations

• All of the above