Unit 2 Risk Management & Market Segmentation in Sports & Entertainment

Question 1

This term is used to describe the growth of international economic relationships.

Accepted Answer

globalization

Question 2

The market segment for professional boxing and bowling can be best segmented based on:

Accepted Answer

demographic segmentation

Question 3

Why did the NFL recently add a special line of apparel designed just for women?

Accepted Answer

expand demographic appeal to women thus generating more $

Question 4

Buying insurance is a way to deal with risk by:

Accepted Answer

transferring it

Question 5

LeBron James was a first round NBA draft pick when he graduated high school. He was a:

Accepted Answer

blue chip athlete

Question 6

Dividing the marketing based on age, income, gender, education level, marital status:

Accepted Answer

demographic segmentation

Question 7

When a cruise ship leaves port, how do they deal with the threat that the ship might sink?

Accepted Answer

the risk is retained

Question 8

A group of customers with shared needs and wants that is separated from the total market.

Accepted Answer

market segment

Question 9

A Chinese group works with the Walt Disney Co to build a theme park. This is an example of:

Accepted Answer

joint venture

Question 10

The producers of American movies manage the risk associated with making a movie by:

Accepted Answer

all of the above are correct

Question 11

Common method used to reduce the threat of accidents and injuries to customers and employees:

Accepted Answer

all of the above are correct

Question 12

China is attempting to attract more foreign investment by improving its water, sewer, roadways.

Accepted Answer

infrastructure

Question 13

This occurs when the owners of a team refuse to allow their players to work:

Accepted Answer

lockout

Question 14

A strategy to reduce business threats or lessening the negative impacts of those threats:

Accepted Answer

risk management

Question 15

This is a group of workers who have joined together to engage in collective bargaining:

Accepted Answer

labor union

Question 16

These athletes are paid to play a sport as a form of entertainment:

Accepted Answer

professional athletes

Question 17

This is a court order stopping or forbidding an action such as a strike or lockout:

Accepted Answer

injunction

Question 18

Dividing the market based on values, interests, and lifestyle activities:

Accepted Answer

psychographic segmentation

Question 19

The primary purpose of recreational sports is:

Accepted Answer

participation

Question 20

Response to the possibility that children might become lost or injured when leaving a concert:

Accepted Answer

a parent room in arena so parents can wait for their child

Question 21

This athlete is NOT paid! All University/ College sports are played by these athletes.

Accepted Answer

amateur athletes

Question 22

Which of the following is NOT considered an extreme sport?

Accepted Answer

badminton

Question 23

A physical activity that is governed by a set of rules and is often engaged in competitively

Accepted Answer

sports

Question 24

True or False. College athletes are allowed to endorse products and accept gifts.

Accepted Answer

False

Unit 2 Risk Management & Market Segmentation in Sports & Entertainment

Questions 24

Unit 2 Risk Management & Market Segmentation in Sports & Entertainment

Questions 24