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SEM Final Review
Test Description: Test Run
Instructions: Answer all questions to get your test result.
1) Product extensions include
A
Warranties
B
All of the above
C
Testimonials from satisfied customers
D
Instructional CD’s
2) Which of the following is not a reason in which an agent should be selected by a highly sought after athlete
A
To negotiate a fair deal
B
To aid them in business dealings
C
To take advantage of them due to being poorly informed
D
To look out for their best interest
3) The recruitment process for top high school athletes to play at colleges except
A
Cannot include additional financial rewards
B
Allows for the athlete to work with an agent
C
Is regulated by the NCAA
D
Is highly competitive
4) Which of the following is not a stage of brand recognition
A
Recognition
B
Preference
C
Rejection
D
Introduction
5) An Advantage of customized entertainment over entertainment for the masses is
A
None of the above
B
More people will buy it
C
It can be impromptu, based on the audience
D
No information is needed about the customers
6) Which methods can be used to position a product in the marketplace?
A
Both A and C
B
A. Price
C
C. Status
D
B. Poor Quality
7) Which of the following is not a component of the product mix?
A
Product line
B
Distribution Channels
C
Packaging
D
Brand
8) During the decline stage of the product life cycle, all of the following are options except
A
Regionalizing
B
Recommitting
C
Raising price
D
Discounting
9) The latest trends in television production include
A
Customized entertainment
B
Locally produced children’s programs
C
Fewer dedicated sports channels
D
Both a and c
10) The value people believe they receive from a product or service
A
Comparative advantage
B
Benefit derived
C
Target market
D
Emotional purchase
11) ______________ ____________ is the percentage of total sales a company expects to capture in relation to its competitors.
A
Profit Margin
B
Opportunity Cost
C
Market Share
D
Economic Utility
12) Why would a company choose to license the marketing of a product in the decline stage to another company?
A
Licensing the product transfer the risk
B
All of the above
C
The purchasing company assumes all the risk of the marketing
D
The selling company continues to receive revenue the sales
13) Penetration pricing is
A
All of the above
B
Used to attract a large share of the market early
C
Used to discourage competition
D
A low price strategy
14) Sales level off during which stage of the product life cycle?
A
Growth Stage
B
Introductory Stage
C
Maturity Stage
D
Decline Stage
15) How does inflation contribute to a recession
A
Price of goods rise faster than income
B
People have overcharged on credit cards
C
None of the above
D
The interest rate is to high
16) Which of the following is characteristic of the expansion phase of the business cycle?
A
Increased consumer demand
B
Growing unemployment
C
Less discretionary Income
D
Decrease completion
17) Why must sports and entertainment markets pay attention to consumer trends?
A
All of the above
B
To design better souvenirs
C
Trend are reflective of current consumer wants and needs
D
To make more money
18) Researching the demographics of a fan base for a particular sport would be most closely associated with which core standard of marketing?
A
Pricing
B
Marketing information Management
C
Financing
D
Distribution
19) ____________ is a way to make customers aware of products and encourage them to buy.
A
Distribution
B
Promotion
C
Marketing
D
Price
20) The marketing mix describes how a business blends the 4 marketing elements of
A
Product, Place, Promotion and Price
B
Presence, Presentations, Place and product
C
Permission, Place, Price and Promotion
D
People, Product, Price, and Presentation
*select an answer for all questions
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