Ch 20 - Business

Question 1

4 P’s

Answer 1

product, price, place, promotion

Question 2

Pull promotion

Answer 2

advertising; makes potential clients aware of service

Question 3

Push promotion

Answer 3

incentive; encourages potential clients to purchase services or existing clients to purchase more

Question 4

10 business steps

Answer 4

1) determine desired annual income, 2) divide by 50 to get desired weekly income, 3) divide by cost of session to get number of sessions needed per week, 4) divide contacts made by clients signed up to get closing percentage, 5) determine timeframe for getting new clients, 6) multiply number of clients needed by closing percentage to get number of contacts needed, 7) divide by number of days in timeframe to get contacts needed per day, 8) divide by number of hours available for contacts to get contacts needed per hour, 9) collect contact information, 10) follow up