Chapter 22

Promotion refers to

All of the communication methods used to persuade customers to purchase your products and services

Variable costs

Are expenses that can fluctuate such as utilities supplies and advertising

Fixed costs

Are operating costs that are constant for example rent and loan payments

What are the two most important aspects of business operations

Clients and employees

Learning to think in terms of what can help you gain a more global perspective of business functions as you develop your plan

Costs, revenues, and profits

Demographics

Refers to particular identifying characteristics of an area where population such as the specific size age sex or ethnicity of its residents; average income; and buying habits

Who oversees laws regarding Social Security unemployment compensation Insurance, cosmetic, and luxury taxes

Federal government

Business plan

Is a basic business tool that provides a strategy for understanding key elements in developing business

The small business administration SBA

Is another independent federal agency set up to help small businesses succeed.

Profit

Is the amount of money available after all expenses are subtracted from all revenues

Revenue

Is the income generated from selling services and products; that is money coming in

Business plan

It is a written description of your business as you see it today and as you foresee it in the next five years detailed by year

Business plan

It serves as a sort of map or blue print to help guide you in making informed decisions and should include several important categories

Why is insurance another primary concern for business owners

Malpractice, liability, disability fire burger Lj that best business interruption

Failure to set aside appropriate funding for this critical business strategy often means the difference between success and failure

Marketing

Marketing is a complex business strategy that is planned according to what are commonly referred to as the four P's

Product price promotion and place or the marketing mix

Place is the

Distribution channel or method for delivering your goods and services to clients

Demographics can be obtained in a variety of formats including

Electronic media such as CD-ROM or print publications that distribute cluster snapshots or Demographic synopses

Categories of a business plan

Executive summary, marketing plan, strategic design, development plan, operations plan, Financial plan

What is the primary concern when planning the treatment room

Safety and comfort of both clients and practitioners

The small business administration SBA provides links to training programs and other resources such as

Service Core of retired executives (SCORE)

Demographic information is available from various sources including

Town senses bureaus, The government, local chamber of commerce, real estate agents, special marketing agencies

Competition

What others are offering and the prices they are charging

In skin care the word product refers to

Your complete Business concept