S/E Marketing - Chapter 2 Test Review

Price, quality, service, and the enjoyment gained from a sport influence customer satisfaction.

• True

• False

Increased consumer demand for sports entertainment events typically results in lower prices and less competition.

• True

• False

What is the primary goal of the marketing concept?

• To increase sales at all costs

• To meet customer needs and wants

• To reduce production costs

• To focus solely on advertising

Which of the following is a key marketing mix component about the marketing concept?

• Public relations

• Product, price, place, and promotion

• Employee satisfaction

• Market share analysis

What is the breakeven point?

• The point at which total revenue equals total costs

• The level of sales where profits are maximized

• The point where fixed costs exceed variable costs

• The total sales needed to achieve a profit margin

A target market is a specific group of consumers a business wants to reach.

• True

• False

A marketing segment is a large group of consumers within a small market that share no characteristic.

• True

• False

Who does mass marketing appeal to?

• People between the ages of 18-25

• A small, specific group of people

• A large, general group of people

• People over the age of 50

What is market share?

• The percentage of total sales of a product or service that a company expects to capture in relation to its competitors

• An attempt to add appeal to a large general group

• A group of consumers within a larger market who share one or more characteristics

• People who have nothing in common

Which is not a market segmentation?

• Geographic Segmentation

• Demographic Segmentation

• Behavioral Segmentation

• Cost Segmentation