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WorksheetsSEM IA3 Practice Test
Total questions: 28
Worksheet time: 14mins
Name
Class
Date
1.
A group of people with shared characteristics and interests such as demographics and psychographics that are most likely to purchase a business's products or services is known as __________________.
a)
enterprise system
b)
target market
c)
tribe
d)
community
2.
A drive-thru Safari Zoo recently offered a group discount rate for the month of February. The museum is promoting to large families with a household size greater than 4. Which type of market segmentation is dividing a market based on the household family size?
a)
demographic segmentation
b)
psychographic segmentation
c)
geographic segmentation
d)
behavioral segmentation
3.
Wilson Sports is promoting a new line of tennish gear for the upcoming months. Wilson Sports sent a direct mail flyer to all customers who enjoy playing tennis. What type of market segmentation is dividing a market based on customers' hobbies and interests?
a)
demographic
b)
psychographics
c)
geographics
d)
behavioral
4.
Identify the particular type of segmentation being described below: With March Madness approaching quickly the NCAA has created a marketing campaign to focus on consumers that live within 200 miles of any of the host cities and regions where the tournament will be played. The NCAA has targeted these consumers based on where they live because consumers who live within 200 miles of the host arena or facility will be most likely to purchase tickets to tournament games. Segmenting a market based on where a consumer lives is an example of ______________ segmentation.
a)
demographic
b)
psychographics
c)
geographics
d)
behavioral
5.
Sports marketing can include two different marketing concepts - marketing of sports and marketing through sports. Which of the following examples shows evidence of marketing through sports?
a)
The Ohio State Athletic Department has a TV commercial showcasing football highlights from the season.
b)
The Dallas Cowboys show hype videos on their website to get fans excited about this upcoming season.
c)
State Farm uses professional athletes to promote its products and services.
d)
The Houston Astros created World Series Shirts to sell through their website.
6.
The study of colors in relation to human behavior is known as ________________.
a)
color psychology
b)
design strategy
c)
compel process
d)
aim
7.
The color palette with only one color with different hues. It is great to use for minimalist brands.
a)
analogous
b)
monochromatic
c)
triadic
d)
complementary
8.
The color palette that uses colors next to each other on the color wheel. These colors work harmoniously together.
a)
analogous
b)
monochromatic
c)
triadic
d)
complementary
9.
The Chicago Bears have a long history of branding with a brand identity that represents the team best. The Bears chose a brand color palette that uses colors directly across the color wheel from each other - orange and blue. These colors bring out the best in each other when paired together. This specific color palette is most often used in sports branding. Which color palette best represents the Bears?
a)
analogous
b)
monochromatic
c)
triadic
d)
complementary
10.
The Olympics logo has a branding color palette that utilizes many colors. Creating a brand color palette utilizing multiple colors can show that your brand is diverse, fun, optimistic, and creative. It is also a great way to stand out. Utilizing multiple colors for your brand is best known as which type of color palette?
a)
analogous
b)
monochromatic
c)
triadic
d)
complementary
11.
Ebay has a branding color palette that utilizes many colors. Creating a brand color palette utilizing multiple colors can show that your brand is diverse, fun, optimistic, and creative. It is also a great way to stand out. Utilizing multiple colors for your brand is best known as which type of color palette?
a)
analogous
b)
monochromatic
c)
triadic
d)
multicolor
12.
Which of the following is not one of the 3 general levels of selling in sports and entertainment?
a)
transactional
b)
situational
c)
relationship
d)
partnership
13.
Which level of selling is most commonly used in selling in sports and entertainment?
a)
transactional
b)
situational
c)
relationship
d)
partnership
14.
The total amount of income or money generated by the sale of goods and services related to the primary operations of the business.
a)
profit
b)
revenue
c)
expenses
d)
costs
15.
What is the correct formula for PROFIT?
a)
Profit = Revenue X Expenses
b)
Profit = Revenue - Expenses
c)
Profit = Revenue / Expenses
d)
Profit = Revenue + Expenses
16.
Calculate the Profit. Taylor Swift held an album release party for her new album. The event included merchandise, food, concert tickets and other items available for purchase. The event had a total revenue of $76,000. The cost of the event included the cost of goods sold of $15,000, salary wages for employees of $1,000, marketing costs of $1,000, and rental of the event space for $5,000. What is the total profit of the Taylor Swift event?
a)
$60,000
b)
$54,000
c)
$100,000
d)
$50,000
17.
Calculate the Profit. Skateworld opened up this year in Atlanta. Skateworld had a very successful first year of operations. Skateworld's total revenue for the year was $100,000. Skateworld had costs associated with opening and operating the business. The cost of equipment and other cost of goods sold totaled $20,000. Employees' salaries accounted for $30,000 in cost. The remainder of the operating expenses and overhead costs was $10,000. After considering the total revenue and total expenses, what is the profit of Skateworld for the first year?
a)
$40,000
b)
$140,000
c)
$80,000
d)
$22,000
18.
What are the two markup pricing strategies used with cost-based pricing?
a)
flat rate markup and percentage markup
b)
markup and markdown
c)
break even point and cost of goods sold
d)
revenue and profit
19.
Calculate the flat rate markup. The Atlanta Braves are holding a dinner open to the public to discuss the upcoming season. The buffet style dinner cost the Atlanta Braves $15/person. The Atlanta Braves are selling the dinner tickets at $45/person. What is the flat rate markup the Atlanta Braves are using?
a)
$55
b)
$25
c)
$30
d)
$16
20.
Calculate the percentage markup. The Atlanta Braves are holding a dinner open to the public to discuss the upcoming season. The buffet style dinner cost the Atlanta Braves $15/person. The Atlanta Braves are selling the dinner tickets at $45/person. What is the percentage markup the Atlanta Braves are using?
a)
200%
b)
350%
c)
245%
d)
150%
21.
Calculate the flat rate markup. Finish Line purchased Nike Flyknit shoes from Nike at $50.00. Finish Line's cost of goods sold is $50.00. Finish Line will sell the Nike Flyknit shoes for $120.00. With a cost of $50, and a sales price of $120.00, what is the flat rate markup Finish Line is using ?
a)
$55
b)
$65
c)
$70
d)
$100
22.
Calculate the percentage markup. Finish Line purchased Nike Flyknit shoes from Nike at $50.00. Finish Line's cost of goods sold is $50.00. Finish Line will sell the Nike Flyknit shoes for $120.00. With a cost of $50, and a sales price of $120.00, what is the percentage markup Finish Line is using ?
a)
200%
b)
140%
c)
50%
d)
180%
23.
Calculate the flat rate markup. The Adidas Yeezy shoe is priced at $350. It cost Adidas $76 to manufacture and produce a pair of Yeezy shoes. With a cost of $76 and a sales price of $350 for Yeezys, what is the flat rate markup Adidas is using?
a)
$274
b)
$330
c)
$120
d)
$150
24.
Calculate the percentage markup. The Adidas Yeezy shoe is priced at $350. It cost Adidas $76 to manufacture and produce a pair of Yeezy shoes. With a cost of $76 and a sales price of $350 for Yeezys, what is the percentage markup Adidas is using?
a)
400%
b)
360.5%
c)
220%
d)
150%
25.
Which of the following best describes loss leader pricing?
a)
the process of choosing strategic price points to take advantage of a market
b)
offering products at or below cost to attract customers into the business with the idea that they will purchase other, more profitable, products
c)
matching a competitor's price
d)
setting the price higher-than-average to suggest status and prestige
26.
Which of the following correctly describes odd-even pricing?
a)
pricing products with both odd and even numbers so consumers round to a lower denomination in their minds
b)
pricing products with either all odd numbers or all even numbers so consumers round to a lower denomination in their minds
c)
pricing products with even numbers to reflect a bargain item, and pricing products with odd numbers to reflect a quality item
d)
pricing products with odd numbers to reflect a bargain item, and pricing products with even numbers to reflect a quality item.
27.
The psychological pricing strategy of selling products with a higher "original" price visible next to a new, lower, current price is called what?
a)
price anchoring
b)
price discounting
c)
price framing
d)
price referencing
28.
A retailer is selling three products together in a single package for $29.99. If a buster was to purchase all three products separately it would cost them $36.00. What psychological pricing strategy is this retailer using?
a)
anchor pricing
b)
bundle pricing
c)
price matching
d)
price referencing
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