Products & Pricing in Sports

What really determines the value that customers place on entertainment and sports?

• whatever owners/producers decide to charge for the product

• customer's perception of the product's quality and/ or value

• whatever ticket brokers decide to charge for that event

• players/performers will determine the price customers pay

This is selling several products as a package for a set price.

• prestige pricing

• psychological pricing

• bundle pricing

• price skimming

Any good purchased by the customer for their personal use

• consumer product

• tangible product

• business product

• intangible product

Which stage of the product life cycle is the least profitable?

• Introduction

• Development

• Maturity

• Decline

The collecting of baseball cards is in what stage of the Product Life Cycle?

• Introduction

• Degeneration

• Maturity

• Decline

The price charged must cover the costs of doing business and allow for a profit.

• true

• false

The focus group should demographically represent the target market.

• true

• false

This is whatever a business offers customers to satisfy needs and wants.

• the service

• the product

• the package

• the price

This is similar to a volume discount or a quantity discount.

• group package

• psychological package

• bundle package

• industrial package

Which of the following best describes watching a NBA game in person?

• tangible product

• intangible product

• industrial product

• business product