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SMKT II Objective 3.0 Flashcards | StudBud
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SMKT II Objective 3.0
SMKT II Objective 3.0
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Answers
1
When planning a concert, what factors do you take in consideration to generate more profit.
advertising possiblities
merchandising opportunities
financing arragements
selling requirements
2
Example of a hospitality option that might b selected to offer
preferred
customers
free advertising
admission to private reception
copies of autographed photos
discounts on future tickets
3
SP=$430 per unit BE= 2100 units what is the total dollar sales need to BE
$903,000
$890,000
$.21 per unit
$4.88 per unit
4
Which product might generate large revenue on the opening day?
autograph books for children
champion hockey pucks
Jerseys with the redesigned logo
souvenir programs
5
Ticket prices are set to earn $12.00 per ticket after covering expenses. Pricing strategy?
volume
competition
demand
profitability
6
Why do sportswear stores calculate break-even in units?
To identify which products they should purchasefor resale.
To determine how many products they must sell tobreak even
To identify which costs are variable and whichare fixed
Find out how much profit they will earn afterthey break even
7
Price conscious and willing to occupy any available seats on a first-come, first-serve basis?
Box seating
Aisle seating
Reserved seating
General admission
8
Factors to consider when conducting a facility inspections
concession arrangement and sponsorship costs
load-in time and advertising
storage space and hospitality options
ticket designs and available equipment
9
It can be beneficial to develop a barter agreement with a vendor if the agreement
helps decrease event expenses
meets the organizations selling goals
includes sales-promotion products
involves obtaining food and beverage items
10
Incentive often used to sell tickets to large groups
publicity
discounts
merchandising
advertising
11
usually the least expensive tickets that fans can purchase:
General admission
Festival
Reserved
Luxury boxes
12
Reason marketers often bundle extra amenities?
improve coverage
control publicity
increase revenue
manage distributions
13
Which is a characteristic of product bundling?
Lower prices
higher prices
higher quality
lower quality
14
Important to explain ticketing and seating arrangements is to help customers
identify the type of event that is themost appropriate
purchase discount tickets from a permanent boxoffice
select seats that are located near concession
buy the type of seats they want at the price they want
15
A sporting event setting ticket prices based on potential customer ability to pay is an example
price motice
price promotion
price restriciton
price objective
16
cable network that televises college basketball games throughout the country is
distributing the sports product.
publicizing the sports product
sponsoring the sports product.
franchising the sports product
17
Exchange of a
product
(instead of money) for advertising or sponsoring an event.
contingency plan
barter agreement
selective distribution strategy
professional testimonial
18
Successful pre-season booking strategy often involves targeting
current ticket holders
occasional attendees
community organizations.
walk-up spectators
19
What do sales beyond the break-even point provide to a business?
Initital Markup
Dividends
profit
Variable Cost margin
20
Concession stands, licensed merchandise, and luxury box seat are goods at a
art exhibit
industry conferernce
professional football game.
fund-raising dinner
21
A facilities size, amenities and location are important considerations when event planners
conduct site inspections
select payment methods
review advertisements
organize lists
22
Which of the following is a type of
concession
that teams often operate in the facility.
customer service office
child care center
coat-check area
on-site retail shop
23
Type of insurance do event organizers purchase in order to cover ticket refunds?
term
accident
cancellation
property
24
promote a celebrity golf tournament at an exclusive course as a once-in-a-lifetime event
To obtain more industry support
To have expensive media coverage
To increase advertising costs
To generate higher ticket prices
25
Why hire the service of professional lighting and sound companies?
entertain crowds during halftime
monitor the timing of the event
install and operate technical systems
work with networks broadcast crews
26
Increase in ticket prices is most accepted by fans if a sport has _______demand for tickets.
elastic
low
unitary
inelastic
27
What should you develop to prepare for possible emergencies?
financial agreements
publicity procedures
Transportation systems
contingency plans
28
When developing a preseason booking strategy consider its timing,target market and
selling methods.
geographic location
inventory needs
security issues
29
Expanded bandwidth is changing the face of in-home entertainment by
eliminating the need for cable hookups
improving fiber optics cable
creating high-definition television.
allowing for delivery of the Internet throughtelevision
30
place decision that must be made in sports and entertainment marketing:
Should direct mail be sent to last season'sticket holders
How will fans obtain the schedule of events
Where will ticket outlets be found
Will local or national media be used
31
When setting prices, management should consider the teams record and performance.
developmental
operational
situational
ethical
32
Setting ticket prices based on customers ability to pay.
motice
restriction
objective
promotion
33
Assessing risks associated with an event, you should acquire input from all levels of mgt. and
local personnel inspectors
vertical staff members
financial consultants
public relations agencies
34
When forecasting projected ticket sales you should consider
broadcast rights
size of stadium
team's performance record
press-box space
35
Goal to avoid storing or discarding merchandise, what is the pricing strategy used.
Versioning
Cost Plus
Competitive
Close Out
36
An event planner should consider purchasing weather insurance for a
charity dinner
outdoor art show
reception held in doors
indoor swimming meet
37
Which of the following is the least important factor when selecting a pricing strategy
Promotional strategy
Location of store
Cost of merchandise
Competitor prices
38
Planners often consider what when conducting site inspections
confirmation number
geographical location
expected gratuity
reservation lists
39
To avoid storing or discarding merchandise, what pricing strategy should you select
Competitive
Cost plus markup
Versioning
Close out
40
Which is a hospitality option that is offered to select spectators?
lawn seating
Tickets available for sell to the general public
Meet and greet backstage passes
concessions available
41
Sets ticket prices so it can increase its fan base by %5. What type of goal is this?
Sales
Contingency
Licensing
Cost
42
When organizing a dance contest, the following will need to be obtained for the event.
disk jockey,dance floor, and sound system
Dance flor, athletic equipment, and disk jockey
sound system, disk jockey and flowers
sound system,dance floor and shoes
43
An increase in ticket prices is most accepted by fans if a sport has ____demand for tickets
elastic
unitary
inelastic
low
44
Pricing objective sets Ticket prices so that income is $12 per ticket after covering expenses
profitability
competition
volume
demand.
45
Liability insurance
protects the organization from financial risks associated with
weather
terrorism
sales
injuries
46
Why promote an event as "once-in-a-lifetime event?
generate higher ticket prices
obtain more industry support
to have expensive media coverage
increase advertising costs
47
What is the primary element of distribution that should discuss in building a sports complex
Facility
Parking
Revenues
Amenities
