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Chapter 1 Sports Marketing Flashcards | StudBud
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Chapter 1 Sports Marketing
Chapter 1 Sports Marketing
30 terms
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#ch1sportsmarketing
Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
Profit is what companies that own sports teams have after paying salaries of the players.
True
False
2
Which of the following is part of the marketing process?
creation
distribution
all of the above
advertising
3
Which of the following is a type of business ownership?
corporation
proprietorship
all of the above
partnership
4
Marketers rely on the GDP figures to plan their yearly budgets.
True
False
5
Profit, competition, and this are the three characteristics of a free enterprise system.
promotion
risk
response
price
6
GDP are statistics that define a population.
False
True
7
The study of choices and decisions that affect making, distributing and using products is
profit
economics
demographics
competition
8
When demand decreases, what must the company do to maintain equilibrium?
increase the price
decrease the price
9
Which of the following is part of the 4 p's of marketing mix?
people
persistence
product
all of the above
10
Organizations spend lots of money to learn about this.
wants and needs of potential customers
none of the above
marketing concepts of competitors
gross domestic product
11
To be profitable, businesses must focus their efforts on the customers’ needs and wants.
False
True
12
Which is an advantage of a partnership?
easy to expand
shared expertise
shared financial investment
all of the above
13
The product's design, name and package has little influence on the product's success.
False
True
14
If supply increases and demand and price remain the same, the company will have a
shortage
equilibrium
surplus
15
Hosting the Olympics creates an economic impact on a region before, during and after the Games.
True
False
16
At a price of $3,
there would be a surplus of 40 units.
there would be a shortage of 40 units.
there would be a surplus of 20 units.
there would be a shortage of 20 units.
17
The sports industry is one of the most profitable industries in the United States.
False
True
18
Choices the involve how products are communicated to the customer is
product decisions
promotion decisions
price decisions
place decisions
19
A shoe repair shop is an example of
service provider
manufacturer
producer channel
wholesaler
20
A subchapter S corporation is a type of business ownership.
False
True
21
Sporting events and entertainment venues economically impact areas in which they operate.
True
False
22
Before businesses identified target markets to promote their products, companies did this.
marketing mix
mass marketing
market identification
marketing concept plan
23
When businesses show this, they are contributing to the GDP.
marketing mix
marketing concept
economic downturn
profit
24
A best example of a target market is
children in the St. Louis area.
all boys worldwide.
all boys in the US.
boys between the ages of 6 and 12 in the St. Louis area.
25
Which of the following protects property ownership and intellectual property rights?
patent
trademark
all of the above
copyright
26
You are the target market if a company has selected you as the focus of its marketing plan.
False
True
27
Competition that is based on price follows the concept of this and available substitutes.
economics
free enterprise
supply and demand
demand elasticity
28
Which is considered demographic information?
geography
price
style
marital status
29
The path a product takes from the manufacturer to the consumer is the channel of distribution.
True
False
30
When demand is greater than supply, a company has a
surplus
shortage
