Final Exam Review Sports Marketing

1.  Marketing and advertising are the same thing.

• True

• False

An activity that will produce money is called a(n)

• a. revenue stream

• b. possession utility

• c. economic utility

• d. profit motive

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

• True

• False

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

• true

• false

Profit is

• a. the amount of money remaining after income is paid

• b. revenue plus expenses

• c. the amount of money remaining from revenues after all expenses are paid

• d. none of the above

The amount of satisfaction that people believe they receive from the entertainment is referred to as

• a. form utility

• b. economic utility

• c. place utility

• d. time utility

7. Economic uncertainty has a direct impact on consumer purchases.

• True

• False

Bringing a new professional team to a major city is an example of a(n)

• a. speculative risk

• b. controllable risk

• c. insurable risk

• d. uncontrollable risk

Ethical behavior involves

• a. making easy routine decisions

• b. always making decisions that produce the greatest financial profits

• c. acting in a mature, responsible manner

• d. all of the above

Forecasting involves

• a. purchasing and promotion

• b. pricing and ticket sales

• c. predicting costs and revenue

• d. planning, distribution, price and advertising