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WorksheetsSEM Final Review Part 1
Total questions: 50
Worksheet time: 25mins
Product/service management involves
developing
maintaining
improving
all of the above
Marketing is the creation and maintenance of
sales
satisfying exchange relationship
a favorable image
financial resources
Gathering and using information about customers to improve business decision making involves
marketing-information management
promotion
product/service management
distribution
Financing
is one of the six core standards of marketing
involves budgeting of marketing activities
involves offering customers different forms of payment for a company’s products or services
b and c
The success of sports marketing does not depend upon
new opportunities
ambush marketing
timing
gross impressions
To satisfy customer needs, you must do all of the following except
charge prices to maximize company profits
identify your customer
develop products that customers consider better than other choices
operate the business profitably
All of the following are forms of promotion except
television commercials
newspaper advertisements
government regulations
in-stadium advertising
Fisher Price tests new toy ideas with children and parents to make sure kids enjoy playing with the toys. This is an example of
product management
selling
promotion
distribution
Gross impressions do not
occur during televised sporting events
involve the number of times a product is associated with a successful athlete
occur accidentally
influence consumer purchases
The popularity of teams and sports figures is based upon
controversy
winning
wealth
all of the above
Each of the following is an example of a market segment except
freshmen at a four-year high school
students at a university who purchase season football tickets
female NASCAR fans
all teenagers in the United States
_____________ segmentation divides markets into physical locations, such as Easter, Northern, Southern, and Western regions of the United States
Geographic
Demographic
Psychographic
Behavioral-based
Emotional purchases are more likely not to occur when
individuals are shopping for groceries on a tight budget
individuals are attending their favorite concert
individuals are watching a college football rivalry and their team is winning
fans are given the opportunity to attend the Super Bowl
Most consumers
have limited financial resources
conduct research before making everyday purchases
use the decision-making process to decide how to spend their limited resources
both a and c
Secondary data
is collected by observing consumer behavior
is collected through consumer surveys
has already been collected for some other purpose
is obtained for the first time
The first step in marketing a product is to determine
who specifically the customer is for the product
what quantity of the product should be produced
who the competition is in the marketplace
how the product will be advertised and promoted
The marketing concept
focuses attention on satisfying customer needs
focuses attention on maximizing profit
involves satisfying exchange relationships between the consumer and producer
both a and c
An activity that will produce money is called a(n)
revenue stream
possession utility
economic utility
profit motive
Profit is
the amount of money remaining after income is paid
revenue plus expenses
the amount of money remaining from revenues after all expenses are paid
none of the above
Bringing new professional team to a major city is an example of a(n)
speculative risk
controllable risk
insurable risk
uncontrollable risk
Ethical behavior involves
making easy routine decisions
always making decisions that product the greatest financial profits
acting in a mature, responsible manner
all of the above
Costs of sports and entertainment events include
high salaries
facilities
promotion for events
all of the above
Forecasting involves
purchasing and promotion
pricing and ticket sales
predicting costs and revenue
planning, distribution, price and advertising
_________ is the possibility of financial gain, loss, or personal injury.
Profit
Risk
Insurance
Utility
Risk retention involves
buying insurance
assuming the cost of an uninsurable risk
stopping the activity that involves risk of loss
the possibility of loss or gain
When a business is legally responsible for losses suffered by an injured person, it is said to be
liable
ethical
avoiding risk
risk averse
The _________ shows assets, liabilities, and net worth.
balance sheet
income statement
check register
purchases journal
All of the following are steps in the host selection process for the Olympics EXCEPT:
site visits by the selection committee
paying large fees to the members of the International Olympic Committee
an extensive application process
an elaborate marketing campaign
Which American professional sports league often seeks out players from Latin America?
The World Wrestling Federation
the National Football League
the National Basketball Association
Major League Baseball
Piracy is a particular problem for the film industry in
China
Germany
Canada
Great Britain
One of the best strategies for growing a sports or entertainment business is to
avoid differentiation
exclude data on global trends
ignore cultural differences
consider international marketing
A business project in which two or more organizations work together and share the costs and profits is called _________
an industry
infrastructure
a joint venture
piracy
What amendment to federal education law prohibits discrimination against females in school sports?
Equal Rights Amendment
Title IX
Americans with Disabilities Act
Civil Rights Act of 1964
The first step for marketing research is to
analyze current conditions
collect the data
discover and define the problem
analyze and report the data
Price points
are bonuses received for purchasing certain products
are the range of prices charged for a category of merchandise
are used for psychological pricing
are the lowest prices charged for merchandise
Ethical research
is frequently used to disguise a sales tactic
is biased research
respects confidentiality
both a and c
The process of organizing data from multiple sources into usable information is called
data mining
big data
marketing research
convergence analytics
__________ research is conducted by an independent company and then offered for sale to everyone in an industry.
Syndicated
Primary
Secondary
Client-side
Statistics gathered through valid research is called
descriptive data
hard data
primary data
soft data
__________ are small numbers of people representative of a large group.
Polls
Samples
Cookies
Tests
What is the final step for marketing research?
analzye current conditions
implement and evaluate the results
collect the data
develop the process for data collection
__________ are physical features that can be seen and felt.
Tangible parts
Product extensions
Intangible parts
Product enhancements
A __________ is the legal protection of words and symbols used by a company.
brand
license
trademark
copyright
Which of the following is not a stage of brand recognition?
preference
introduction
recognition
rejection
All of the following are examples of product extensions except
guarantees
warranties
product information CDs
upgraded materials
The first stage of brand recognition is
nonrecognition
rejection
preference
insistence
The NCAA
regulates college athletics
dictates the dollar limits that colleges can pay coaches
can put teams on probation
both a and c
Sales level off or slow down during which stage of the product life cycle?
introduction stage
growth stage
maturity stage
decline stage
A strategy used by a company to distinguish its products or services from those of its competitors is called
positioning
guerilla marketing
product enhancing
crowdsourcing
The channel members involved in making a product or service available are called
manufacturers
producers
marketing researchers
intermediaries
