Risk Management/Sports & Entertainment Markets

Any strategy to reduce business threats that includes preventing, reducing, or lessening the negative impacts of those threats:

• industrial management 
• risk management 
• marketing management 
• sales management 

One of the most common methods businesses use to reduce the threat of accidents and injuries to customers and employees:

• hiring well-qualified employees 
• training employees in safety procedures 
• installing safety equipment
• all of the above are correct

Buying insurance is a way to deal with risk by: 

• transferring it
• retaining it 
• avoiding it
• refusing it

When a cruise ship leaves port, how does the cruise shop owner deal with the threat that the ship might sink while on the cruise? 

• the risk is retained  
• there is no risk
• the risk is avoided 
• the risk qualified

This is a group of customers with shared needs and wants, that is separated from the total market, on which the business will focus its efforts:

• industrial segment
• market segment
• consumer target 
• demographic target

Dividing the market into physical locations:

• geographic segmentation 
• industrial segmentation
• demographic segmentation
• psychographic segmentation 

Dividing the marketing based on information such as age, income, gender, ethnic background, education, and marital status:

• geographic segmentation 
• industrial segmentation
• demographic segmentation
• psychographic segmentation 

Dividing the marketing based on information such as age, income, gender, ethnic background, education, and marital status:

• geographic segmentation 
• industrial segmentation
• demographic segmentation
• psychographic segmentation 

Dividing the market based on characteristics that cannot be physically measured such as values, interests, and lifestyle:

• geographic segmentation 
• industrial segmentation
• demographic segmentation
• psychographic segmentation 

This athlete is someone who is NOT paid to play a sport. All University and College sports are played by these athletes.    

• professional athletes 
• consumer athletes
• industrial athletes
• amateur athletes