Sports Marketing Ch 2 T/F

The marketing concept requires maintenance of important relationships with customers.

• True

• False

Maslow's Hierarchy of Needs:

Basic Needs; food, water, sleep, shelter, air

• Physiological

• Security

• Social

• Esteem

• Self-actualization

About half of every dollar that consumers spend on products pays for marketing costs.

• True

• False

Producers are the driving force behind the marketing concept.

• True

• False

Companies that have a comparative advantage are able to pass savings to their customers in the form of lower prices.

• True

• False

Young families often spend entertainment dollars to attend sporting events for their children.

• True

• False

Maslow's Hierarchy of Needs:

Desire for Friends, Family, Love and Belonging

• Physiological

• Security

• Social

• Esteem

• Self-actualization

Maintaining a successful marketing relationship requires little to no effort.

• True

• False

 The increased standard of living in the United States has resulted in less discretionary income for consumers.

• True

• False

Two major goals of marketing are to determine what consumers want and how much they are willing to pay.

• True

• False