S/E Marketing Q3 Exam Review

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What are the basic concepts of marketing?

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The basic concepts of marketing include understanding customer needs, creating value, and building strong customer relationships.

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What is the marketing mix?

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The marketing mix refers to the set of actions or tactics that a company uses to promote its brand or product in the market. It typically includes the 4 Ps: Product, Price, Place, and Promotion.

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What are the seven core standards of marketing and financing?

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The seven core standards of marketing and financing include product/service management, distribution, selling, marketing-information management, pricing, promotion, and financing.

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What is sports marketing?

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Sports marketing is a subdivision of marketing which focuses both on the promotion of sports events and teams as well as the promotion of other products and services through sporting events and sports teams.

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What is the value of sports marketing to the economy?

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Sports marketing contributes to the economy by generating revenue through ticket sales, sponsorships, and advertising, as well as creating jobs and promoting tourism.

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What is entertainment?

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Entertainment is any activity that holds the attention and interest of an audience, or gives pleasure and delight.

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How has entertainment marketing evolved?

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Entertainment marketing has evolved from traditional advertising methods to include digital marketing, social media, and interactive experiences to engage audiences.

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What is the central focus of the marketing concept?

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The central focus of the marketing concept is to satisfy the needs and wants of customers while achieving the organization's goals.

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Why are there increased sports and entertainment options?

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Increased sports and entertainment options are due to technological advancements, globalization, and changing consumer preferences.

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Why is understanding buyer behavior important in marketing decisions?

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Understanding buyer behavior is crucial for making informed marketing decisions as it helps businesses tailor their products, services, and marketing strategies to meet the needs and preferences of their target audience.