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How can kelly and noah prepare for a successfully persuasive

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Reference no: EM132855263

CASE SCENARIO: Starting a New Business

This case scenario will help you review the chapter material by applying it to a specific situation. Kelly Lee and Noah Walker meet in a marketing class and recognize that they have two things in common. First, they enjoy working with animals. Kelly's family breeds Irish setters, and Noah works part time in a veterinary office. Second, they both want to be entrepreneurs. After some initial market analysis, they decide to collaborate on creating a pet daycare center, Pet Haven, that will offer daily workouts for the animals, hourly playtime and petting with individual handlers, and clean and roomy cages or containment areas.

To get Pet Haven up and running, Kelly and Noah realize they must persuade either a bank or other investors to give them a small business loan. Then they must persuade potential customers to use their service.

Persuading Lenders to Fund a Loan

When Kelly and Noah go to the bank to discuss a loan for Pet Haven, the banker is interested in the idea but tells them their interest rate will be very high because they have an insufficient credit history and no collateral for the loan. To secure a more reasonable rate, he suggests they ask relatives to co-sign the loan application. In other words, their parents would have to agree to repay the loan if Kelly and Noah could not.

Kelly and Noah decide they need to convince their parents that Pet Haven is a sound financial idea. To prepare for these meetings, they brainstorm a list of questions their parents might ask:

Question 1: How can Kelly and Noah prepare for a successfully persuasive conversation with their parents?

Question 1a. What questions require a logical argument, using claims, reasons, and evidence?

Question 1b. How should Kelly and Noah gather information to support these arguments?

Question 1c. How can Kelly and Noah establish credibility about their ability to run a business and repay a loan?

Question 1d. What kinds of emotional appeals might be effective to motivate their parents?

Reference no: EM132855263

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