Sports Marketing 1 Final Review

What is a key way sports and entertainment businesses reach their customers?

• By only offering free events

• Through advertising, sponsorships, and social media

• By ignoring customer needs

• By lowering ticket prices constantly

What helps sports businesses make money?

• Offering only free tickets

• Having multiple ways to earn money (like merchandise and ticket sales)

• Ignoring customer preferences

• Only selling merchandise at events

What is the free enterprise system?

• A system where the government controls everything

• A system where businesses can operate freely with some rules

• A system where only government businesses are allowed

• A system with no competition

What does competition mean in sports marketing?

• Working together with other businesses

• Competing with other businesses for the same customers

• Stopping all other businesses from operating

• Eliminating the need for marketing

Which of these is a risk in sports marketing?

• Planning events in advance

• A sudden change in what customers want

• Partnering with other businesses

• Creating strong advertising

What is risk management in sports marketing?

• Ignoring problems

• Finding ways to reduce or deal with risks

• Avoiding all risks

• Only taking on high-risk projects

What does economics mean in sports marketing?

• How businesses can avoid competition

• How to create new teams

• How money is earned and spent in the sports industry

• How fans decide to watch sports

How can politics affect sports marketing?

• By creating new sports events

• Through laws about sponsorship, ads, and broadcasting rights

Which of these affects sports marketing?

• A change in consumer spending habits

• The price of merchandise at the event

• The weather on the day of the game

• The number of fans attending the event

What is the relationship between costs and profits in sports marketing?

• Higher costs always mean lower profits

• Businesses should balance costs and revenue to make a profit

• Costs don’t matter as long as the business sells tickets

• Reducing costs always leads to higher profits