SEM Ch 2 & WWW Sports Marketing

Bringing a new professional team to a major city is an example of

Risk that can be prevented or the likelihood of its occurrence is reduced.

Costs of sports and entertainment events include

Studies the relationships between individual consumers and producers.

The possibility of financial gain, loss, or personal injury.

Pepsi and Coke competing for the right to sell their products at a stadium is an example of

What type of sporting good is purchased when you buy a hat that features the Miami Dolphins?

The growth of the sports industry created

Risk cannot be controlled and must always be covered by purchasing insurance.

Groups or organizations that regulate sports and sports participants

All of the following are examples of human risk EXCEPT

Risks can be classified as controllable, insurable, and involving gain or loss.

The study of economics of the entire society is referred to as

When the physical characteristics of a product are improved, it is called possession utility.

Which helps create the excitement and enthusiasm that make the games what they are today?

When you read a magazine article about a star athlete, you are using the product of

The message channels used to promote a good, service or idea.

Making decisions to use resources in ways that result in the greatest profit is

The greatest reason for being in business is the

Forecasting involves

One of the main reasons why many businesses sponsor a sports product or event is to

Categories of economic utility include

Which of the following are characteristics of a sporting event?

Pure risks

What must be present for a sporting event to take place?

What often transfers from a sport team to the city it calls home?

Risk retention involves

Risk retention means purchasing insurance to cover possible losses.

Businesses or organizations that pay to associate their names or product with a sporting event.

What do unorganized participants in sports have that the organized participants do not have?

Because people have limited time & money, they make decisions on how to spend their resources.

The businessess that make the sporting events available to those who cannot attend in person

The amount of money remaining from revenue after all expenses are paid.

Assets, Liabilities and Net Worth are on this form.

The amount of satisfaction that people believe they receive from the entertainment is referred