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WorksheetsSEM Final Exam Review
Total questions: 55
Worksheet time: 28mins
Consumer demand has little to no impact on prices assigned to sports and entertainment events and goods.
True
False
The preparation for an unexpected emergency is called risk management.
True
False
When the physical characteristics of a product or service are improved, it is called possession utility.
True
False
Marketing decisions in sports and entertainment businesses in the United States should never be based on global trends.
True
False
Producers are the driving force behind the marketing concept.
True
False
Data collected from viewers who tweet about a show are generally representative of all the viewers watching the show.
True
False
Because English is the international language of business, U.S. companies do not need to translate their websites into the native language of site visitors.
True
False
Ambush marketing takes place when an organization is the sole sponsor of an event.
True
False
Risk retention means purchasing insurance to cover possible losses.
True
False
Discretionary income is the amount individuals earn before deductions are removed from the pay.
True
False
Joining an organization such as DECA or FBLA is one way a student can build his or her own personal "brand."
True
False
China sometimes censors movies it imports from other countries.
True
False
Companies that have a comparative advantage are able to pass savings to their customers in the form of lower prices.
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
Salaries for the WBNA and NBA are close to being equal.
True
False
Which of the following is not a stage of brand recognition?
preference
introduction
recognition
rejection
Marketing is the creation and maintenance of
sales
satisfying exchange relationships
a favorable image
financial resources
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
A product line can include similar products
in different package sizes
in different flavors
in different quality categories
all of the above
Which of these is not true of esports?
involve multiple players
are available to viewers only online
played in front of spectators
have an enthusiastic worldwide fan base
Purchases based upon careful thought and sound reasoning are __________ purchases.
a. rational
b. impulsive
c. emotional
d. habitual
Realizing one’s self potential is referred to as __________ in Maslow’s hierarchy of needs.
self-esteem
self-actualization
physiological
security
Product/service management involves __________ products.
developing
maintaining
improving
all of the above
Most consumers
take advantage of periods of economic uncertainty to make large purchases.
conduct research before making everyday purchases.
use the decision-making process to decide how to spend their limited resources.
both a and c
Tickets to the Super Bowl or World Cup are a scarce resource,
so demand for the tickets is very high
so demand for the tickets is very low
so these events are never sold out
but this does not affect demand for the tickets
Forecasting involves
purchasing and promotion
pricing and ticket sales
predicting costs and revenue
planning, distribution, price, and advertising
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
One of the best strategies for growing a sports or entertainment business is to
avoid differentiation
ignore 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
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
Decision making for most companies is based on
a. a combination of gut feelings, intuition, and marketing research
b. marketing research only
c. gut feelings and intuition only
d. none of these
The first stage of brand recognition is
nonrecognition
rejection
preference
insistence
The amount of satisfaction that people believe they receive from the entertainment is referred to as
form utility
economic utility
place utility
time utility
Which type of television program features average, everyday people and costs little to produce?
sitcoms
documentaries
reality shows
sporting events
When a business is legally responsible for losses suffered by an injured person, it is said to be
liable
ethical
avoiding risk
risk averse
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
A set of procedures and methods used to systematically collect, analyze, distribute, and sort information needed by businesses to make decisions is called
a. a marketing-information system
b. marketing research
c. data interpretation
d. syndicated research
The most important aspect of marketing is
satisfying customer needs
maximizing profit
facilitating exchange relationships between the consumer and producer
both a and c
Which of these is not a part of the annual South by Southwest (SXSW) event held in Austin, Texas?
college football playoffs
performances by regional and international musicians
conference sessions on trending ideas in making and marketing music
conference sessions on trending ideas in sports media, gaming, and technology
__________ is the possibility of financial gain, loss, or personal injury.
Profit
Risk
Insurance
Utility
Which of these groups would be least valuable to marketers as a market segment?
freshmen at a four-year high school
college students who purchase season football tickets
all teenagers in the United States
female NASCAR fans
External sources of information for businesses do not include
government reports
the company’s financial reports
trade and professional organizations
business publications
Ethical behavior involves
making easy routine decisions
always making decisions that produce the greatest financial profits
deciding between right and wrong in a reasoned and impartial manner
all of the above
Which of the following statements about women’s professional sports is not true?
The U.S. Women’s Soccer Team win in the World Cup Soccer Championship in 1991 made big headlines in the sports pages.
Women’s professional sports are becoming more popular.
Salaries for males and females in professional sports are not comparable.
Professional women’s sports present a lucrative career opportunity for creative marketers.
A(n) (a) shows how often each numerical value, response, item, or range of numbers in a set of data occurs.
frequency table
cookie
sample
algorithm
Which of the following is determined by the multiplier effect?
the indirect economic impact
the direct economic impact
the profit margin
the gross national product
Statistics gathered through valid research is called
descriptive data
hard data
primary data
soft data
The (a) shows assets, liabilities, and net worth.
balance sheet
income statement
check register
purchases journal
Gross impressions do not
involve televised sports or entertainment events
involve the number of times a product is associated with a successful athlete
occur accidentally
influence consumer purchases
__________ are physical features that can be seen and felt.
Mountains
Rivers
Forests
Deserts
An activity that will produce money is called a(n)
revenue stream
possession utility
economic utility
profit motive
YouTube was created by three friends in 2005 and was purchased by (a) in 2006 for $1.65 billion.
AdSense
Amazon
Microsoft
Which 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
55. A(n) (a) is an example of a product enhancement for a new automobile.
AM/FM radio
GPS navigation system
10,000-mile warranty
all of the above
