Sports & Entertainment Chapter 2 Review

Economic uncertainty has a direct impact on consumer purchases.

• True

• False

Mass marketing is used by companies when they are trying to appeal to a specific group of consumers with similar needs.

• True

• False

The marketing concept requires maintenance of important relationships with customers.

• True

• False

A values-based culture communicates values through high performance and excellent customer service.

• True

• False

Producers are the driving force behind the marketing concept.

• True

• False

The best strategy for a business to rise above the competition is to provide uncompromising, outstanding customer service.

• True

• False

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

• True

• False

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

• True

• False

Behavioral-based segmentation focuses on information that can be measured, such as age, income, profession, gender, education, marital status, and size of household.

• True

• False

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

• True

• False