SEM Unit 2 Test - Chp 3 & 4 (plus VB - Parking, Concessions, and Sponsorship)

Question 1

A hired professional who plans the marketing campaign and appearances for an author is called a

Accepted Answer

Literary Agent

Question 2

Companies with a comparative advantage can pass savings to their customers through lower prices

Accepted Answer

True

Question 3

The marketing concept

Accepted Answer

Both a and c

Question 4

The increased standard of living in the US has meant less discretionary income for consumers.

Accepted Answer

False

Question 5

Flow of fans leaving the stadium

Accepted Answer

Egress

Question 6

A business project in which two or more organizations work together and share costs and profits

Accepted Answer

a joint venture

Question 7

_______ segmentation divides markets into physical locations(ex: Eastern, Northern, Western...)

Accepted Answer

Geographic

Question 8

When you understand customers it is easier to create strategies to overcome your competition.

Accepted Answer

True

Question 9

The _____ is the difference between what customers expect and the service they actually recieve

Accepted Answer

Customer Service Gap

Question 10

Orlando, Florida is a popular location for conferences due to

Accepted Answer

all of these answers

Question 11

The ____ is the point at which all expenses for producing a product are met.

Accepted Answer

Break-Even Point

Question 12

Economic uncertainty has a direct impact on consumer purchases.

Accepted Answer

True

Question 13

Sports _____ last one or two days and usually focus on one skill only.

Accepted Answer

clinics

Question 14

Theme parks are opening in India due to

Accepted Answer

all of these answers

Question 15

The best strategy for business to beat out competition is providing superior customer service.

Accepted Answer

True

Question 16

The two major goals of SEM are determining economic wants and how much customers can pay.

Accepted Answer

True

Question 17

The first step in marketing a product is to determine

Accepted Answer

who specifically the customer is for the product

Question 18

Reality TV programs are a trend in the TV Industry & cost more to make than traditional shows.

Accepted Answer

False

Question 19

The owner or operator of a concession stand is known as the

Accepted Answer

Concessionaire

Question 20

The ______ industry is the world's largest industry.

Accepted Answer

Travel

Question 21

A writer who listen's to an author's story and then commits it to paper for a fee is called a

Accepted Answer

Ghostwriter

Question 22

___ segmentation is based on age, income, education, and other distinguishing characteristics.

Accepted Answer

Demographic

Question 23

Each of the following is an example of a market segment EXCEPT

Accepted Answer

number of teenagers in the USA

Question 24

Mystery guests are sometimes hired by companies to determine how well they "serve" customers.

Accepted Answer

True

Question 25

The marketing concept requires maintenance of important relationships with customers

Accepted Answer

True

Question 26

Popular motivational speakers from the world of sports

Accepted Answer

have a message that interests the audience

Question 27

Athletes can always charge high prices for speaking engagements due to their sports ability.

Accepted Answer

False

Question 28

______ pricing is fluid and results in increases/decreases of price due to supply/demand.

Accepted Answer

Dynamic

Question 29

____ is a specific group of consumers that a company wants to reach.

Accepted Answer

Target Market

Question 30

Teenagers in the U.S. spend billions of dollars annually, making them a desirable target market

Accepted Answer

True

Question 31

Because of competition for entertainment $$$ it is important to understand habits of customers.

Accepted Answer

True

Question 32

The ________ is focused on satisfying customer needs.

Accepted Answer

Marketing Concept

Question 33

Secondary data

Accepted Answer

has already been collected for another purpose

Question 34

______ is the international governing body of soccer.

Accepted Answer

FIFA

Question 35

Organizations that give teams $$$ in exchange for naming and advertising rights at a stadium

Accepted Answer

SEM Unit 2 Test - Chp 3 & 4 (plus VB - Parking, Concessions, and Sponsorship)

Questions 40

SEM Unit 2 Test - Chp 3 & 4 (plus VB - Parking, Concessions, and Sponsorship)

Questions 40