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WorksheetsSports Marketing Fall 24 Final Exam Review
Total questions: 85
Worksheet time: 43mins
The amount of product available to the market is known as which of the following?
Interest
Demand
Supply
Resources
Which of the following is the rule which states at some point adding more factors to a production process will not improve returns?
Factors of production
Place utility
Specialization
Law of diminishing returns
Advertising which informs consumers about a new product is an example of which of the following?
Information utility
Place utility
Time utility
Possession utility
Which of the following types of utility enhances value by creating more useful or desirable products out of raw materials or separate parts?
Possession
Information
Time
Form
When companies are understaffed employees can become overworked, cause a hostile work environment and increase the time of production.
True
False
Unprofitable firms negatively affect the economy by increasing the job market and increasing salaries and benefits.
True
False
When describing supply and demand, which of the following defines when a product is demanded in larger quantities than is produced?
Equilibrium
Demand
Shortage
Surplus
Gross National Income includes all of the income earned by a country’s residents and businesses including those earned abroad.
True
False
Current events can impact personal financial decisions, particularly through the stock market?
True
False
Which of the following is an example of an objective?
Increase sales
Increase repeat business by 15 percent over one year
Improve post-purchase relationships with customers
Call customers to verify satisfaction
Which of the following is a qualitative research method?
Survey
Experiment
Questionnaire
Interview
If a company decides to focus marketing efforts on people who love mountain climbing, which method of segmentation did they use?
Demographics
Psychographics
Geography
Random
Which of the following decisions would be considered part of the "product" element of the marketing mix?
Whether to put a product on a table or shelf
Whether to make a product blue or red
Whether to make a product $5 or $10
Whether to have a sale on product A or product B
For what does marketing depend on the human resources department?
To implement marketing plans by setting goals and objectives
To bring in money for the marketing budget
To get people interested in the products and services offered
To hire people who are aligned with the marketing strategy
Which of the following is NOT one of the discussed functions of marketing?
Pricing
Marketing information management
Buying
Financing
A strategy is best defined by which of the following?
A specific action which will advance the company and achieve an end result
A statement describing the overall approach to how goals and objectives will be achieved
A specific, measureable, short-term expectation for the future
A broad, long-term expectation for the future
Which of the following most accurately describes the difference between goals and objectives?
Goals are broad, long-term expectations for future achievements and objectives describe the overall approach to how they will be accomplished
Goals are specific, measureable and short-term expectations for future achievements and objectives are the standards by which goals should be measured
Goals describe the overall approach to how the company will succeed and objectives are the specific actions which will advance goals
Goals are broad, long-term expectations for future achievements and objectives are more specific, measureable and short-term
Which of the following is NOT an example of a purchase which would use extended-problem solving for most people?
Bread
Car
College
Home
Who developed the hierarchy of needs model?
April Bell
Rachel Low
Abraham Maslow
Jeffrey Harper
Which of the following is NOT a quantitative research method?
A questionnaire at your restaurant table which asks how happy you are with your food and service
A group discussion about the features group members want in a new cell phone
A survey over the phone at the end of a cable service phone call
An experiment which compares the Internet speed of two competing providers
Qualitative research can be defined as which of the following?
High-quality secondary research
Structured research which uses the scientific method and standardized questions to make generalizations and predictions
Experimental research which is performed by experienced research experts using a specific formula
Exploratory, in-depth research involving flexible, open-ended questions
Which of the following best describes the difference between secondary and primary research?
Secondary research is done twice and primary research is performed once
Secondary research is past research which has already been performed and often published and primary research is done firsthand for the first time
Secondary research is performed once and primary research is performed twice
Secondary research is done firsthand for the first time and primary research is past research which has already been done and often published
A target market is which of the following?
A group which is unimportant to focus marketing efforts on
The specific group for which a business's products, services and marketing efforts are intended
The broad group for which a product's features are not meaningful
A small group which marketers use to test marketing efforts before running a full campaign
Which of the following is NOT a discussed method of segmenting markets?
Geography
Demographics
Psychographics
Randomly
Which of the following best describes the process of market segmentation?
When marketers break up marketing efforts chronologically by month
When marketers divide the mass market based on shared characteristics
When marketers distinguish between marketing efforts based on cost
When marketers approach the mass market with small pieces of undeveloped marketing ideas
When a company uses the mass marketing technique, they are doing which of the following?
Producing and distributing large amounts of marketing over a short period of time
Concentrating marketing on the most massive group of customers
Aiming marketing at everyone without consideration of the differences among people
Producing large amounts of marketing in one year to be distributed the next year
When you see an advertisement for a store and decide to shop there, which element of the marketing mix has succeeded?
Presentation
Product
Place
Promotion
If you are shopping for a shirt and decide not to make a purchase because you cannot find your size, which element of the marketing mix has failed?
People
Product
Promotion
Price
The element of the marketing mix known as "place" refers to which of the following?
Where the raw materials used to make products and services come from
Where products and services are manufactured
Where products and services are made available to customers
Where products and service are thrown away
Which of the following is NOT one of the "four Ps"?
Presentation
Promotion
Product
Price
Which of the following descriptions accurately describes the difference between promotion and selling?
Promotion indirectly communicates the value of a product and selling is directly communicating with customers
Promotion is increasing sales numbers and selling is maintaining sales numbers
Promotion is directly communicating with customers and selling indirectly communicates the value of a product
Promotion is maintaining sales numbers and selling is increasing sales numbers
Which of the following is distribution focused on when thought of as a function of marketing?
Filling a quota of stores with products
Using persuasion to sell as many products as possible
Getting products to the best place for customers to locate and obtain them
Making people understand how useful a product is
Which of the following is NOT one of the modes of transportation distribution typically uses?
Railroads
Cable
Waterways
Trucks
Which of the following is NOT affected by marketing?
The locations you shop
The items you purchase
The product regulations
The use of the products
The focus of the maturity stage (stage 3) in the product life cycle is to build customer satisfaction and recognize competitors entering the market.
True
False
Which of the following is the goal of the finance department?
Producing goods in the most efficient and cost-effective manner
Setting prices high enough to make profit but low enough to attract customers
Motivating employees and focusing on cooperation within the business
Determining the use of company resources and funds
A system used to record, classify, summarize and report the financial position of a business is known as which of the following?
Distribution
Human Resources
Management
Accounting
Intrinsic motivation occurs internally and includes enjoyment and accomplishment.
True
False
Which of the following is an example of a non-profit organization?
Amazon
ITT Technical Institute
Beauty Salon
Salvation Army
Which type of business produces processed goods by changing raw goods into a more finished form?
Processors
Producers
Service Firms
Intermediaries
Which of the following is an example of a producer?
Cotton Mill
Mine
Landscape Company
Juice Factory
Which of the following is NOT an example of a processor?
Oil refinery
Automobile factory
Textile mill
Cotton mill
Which of the following is an example of a service firm?
Landscape company
Mine
Cotton Mill
Juice Factory
Which of the following is NOT a role the Human Resources department plays when helping orient employees?
Helping fill out paperwork
Introducing co-workers
Assisting employees in their adjustment phase
Analyzing new employee morale
Evaluating employee performance helps with all of the following EXCEPT which of the following?
Transfers
Sick Leave
Promotions
Layoffs
According to the segment, why is the Finance and Accounting department important to a business?
Focuses on the worth of the company
Businesses cannot exist without cash flow
Controls the Human Resources department
Controls hiring decisions
Items of value owned by a business are known as which of the following?
Assets
Owner’s equity
Bonds
Liabilities
Which of the following are the debts or obligations of a business?
Liabilities
Assets
Bonds
Owner’s equity
Which of the following is NOT a component of the marketing mix?
Price
Perception
Promotion
Product
Which of the following are the activities used to persuade consumers they need the product?
Product
Price
Promotion
Perception
Which of the following is NOT a stage of the product life cycle?
Maturity
Introduction
Evaluation
Growth
Which of the following is an economic system in which businesses are privately owned and product development is proportionate to the accumulation and reinvestment of profits gained in free market?
Monopoly
Socialism
Communism
Capitalism
Which of the following is NOT true about sports marketing?
It is extremely sensitive on timing
It creates many job opportunities
It has limited impact on other businesses and industries
It is a multi-billion dollar global industry
Classic Coke® is an example of which of the following types of brands?
Organization brand
Service brand
Product brand
Person brand
Which of the following jobs requires a person to interpret a writer’s script and portray characters in performing arts media?
Actor/actress
Coach
Athlete
Singer
Sponsorships and endorsements are unique to the United States.
True
False
Which of the following is a common activity of sports agents?
Analyze and report athlete's ability and talent
All of the above
Recruit and market services in various sports
Scout talented athletes for professional sports
Which of the following is NOT a benefit for sponsors?
Improve sales by creating interest
Raise morale among employees
Enhance image through association
Generate brand awareness
Old Spice® has a sponsored NASCAR® car with its logo, slogan and colors on the car. This is an example of which type of sponsorship?
Facility entitlement
Product exclusivity
Entitlement
Signage
The Tostitos® Fiesta Bowl in college football is an example of which type of sponsorship?
Entitlement
Product exclusivity
Signage
Facility entitlement
It is illegal for an individual to endorse a product without actually using it.
True
False
All of the following are endorsement factors, but which is the most basic basis for most athletes receiving endorsements?
Positive image
Demographic match
Name recognition
Successful career
Which of the following is NOT a type of sponsorship?
Endorsement
Signage
Entitlement
Facility entitlement
__________ is the process of forming a mental association with a company product.
Brand exclusivity
Branding
Licensing
All of the above
Who handles contract negotiations for an athlete?
The athlete
Sports agent
Coach
Team owner
If a stadium is named after a company such as Minute Maid® Park, what type of sponsorship is it?
Signage
Product exclusivity
Entitlement
Facility entitlement
A sportscaster states, “Coca-Cola® is the official soft drink of today’s game.” This is an example of which type of sponsorship?
Entitlement
Signage
Facility entitlement
Product exclusivity
Which of the following is an advantage of licensing?
The licensee heavily relies on the brand
Brand image is consistent
The brand is recognized in multiple products or services
The licensor may lose potential business opportunities
Which of the following is an example of a person brand?
The Oscars
Michael Jordan
Adidas®
Sony Pictures®
The Olympic Games is an example of which of the following types of brands?
Event brand
Service brand
Organization brand
Product brand
When a professional baseball team sells its brand to a beverage company in order to use the team logo on the bottles of their products, the professional baseball team is which of the following parties?
The investor
The licensor
The sponsor
The licensee
A professional sports team opening up a team merchandise store is an example of which of the following business practices?
Brand extension
Marketing
Licensing
Advertising
Which of the following is the amount of an individual’s income which is left for spending, investing or saving after taxes and personal necessities?
Disposable income
Discretionary income
General income
Net income
U.S. broadcast content is regulated by which of the following organizations?
The National Communications Association
The Public Media Organization
The Federal Communications Commission
The Center for Media Studies
Which of the following describes a “blind check” of merchandise?
Checking the shipment for general characteristics
Checking the shipment directly with the invoice
Checking the shipment randomly
Checking the shipment before checking the invoice
Which of the following attributes to the largest percentage of inventory shrinkage?
Employee theft
Shoplifting
Vendor fraud
Administrative error
Oil and gas are products frequently transported through which of the following?
Rail transportation
Motor carriers
Pipeline transportation
Water transportation
Which of the following is NOT an intensity level of distribution?
Intensive
Selective
Exclusive
Distinctive
The product path from the producer to the final customer is known as which of the following?
A channel of distribution
An agent
An intermediary
A buyer
Sports agents serve as a guide for their clients' __________.
Personal growth
Physical health
Financial success
All of the above
Which of the following is NOT a benefit for the sponsored?
Recruit talent
Help pay expenses
Raise standards
Increase status
Which type of sponsorship directly generates profit for the sponsor?
Signage
Entitlement
Facility entitlement
Product exclusivity
Endorsements are regulated by which of the following?
Federal Trade Commission
Fair Advertising Association
National Sports Federation
Better Business Bureau
Most endorsement contracts include clauses releasing the company from the contract if which of the following occurs?
The athlete's image changes
The athlete changes teams
The athlete's performance declines
The athlete fails to increase sales
Which endorsement factor may be used to reach out to a specific target market?
Demographic match
Successful career
Name recognition
Positive image
