SEM Final Review Question Preview (ID: 31466)

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The value people believe they receive from a product or service
a) Target market
b) Emotional purchase
c) Comparative advantage
d) Benefit derived

During the decline stage of the product life cycle, all of the following are options except
a) Regionalizing
b) Raising price
c) Discounting
d) Recommitting

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

Which methods can be used to position a product in the marketplace?
a) A. Price
b) B. Poor Quality
c) C. Status
d) Both A and C

Which of the following is not a component of the product mix?
a) Product line
b) Brand
c) Packaging
d) Distribution Channels

Which of the following is not a stage of brand recognition
a) Preference
b) Rejection
c) Recognition
d) Introduction

An Advantage of customized entertainment over entertainment for the masses is
a) More people will buy it
b) It can be impromptu, based on the audience
c) No information is needed about the customers
d) None of the above

The recruitment process for top high school athletes to play at colleges except
a) Is highly competitive
b) Is regulated by the NCAA
c) Cannot include additional financial rewards
d) Allows for the athlete to work with an agent

Which of the following is not a reason in which an agent should be selected by a highly sought after athlete
a) To take advantage of them due to being poorly informed
b) To negotiate a fair deal
c) To look out for their best interest
d) To aid them in business dealings

Product extensions include
a) Warranties
b) Testimonials from satisfied customers
c) Instructional CD’s
d) All of the above

______________ ____________ is the percentage of total sales a company expects to capture in relation to its competitors.
a) Profit Margin
b) Market Share
c) Economic Utility
d) Opportunity Cost

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) The purchasing company assumes all the risk of the marketing
c) The selling company continues to receive revenue the sales
d) All of the above

Penetration pricing is
a) Used to attract a large share of the market early
b) Used to discourage competition
c) A low price strategy
d) All of the above

Sales level off during which stage of the product life cycle?
a) Introductory Stage
b) Growth Stage
c) Maturity Stage
d) Decline Stage

How does inflation contribute to a recession
a) Price of goods rise faster than income
b) The interest rate is to high
c) People have overcharged on credit cards
d) None of the above

Which of the following is characteristic of the expansion phase of the business cycle?
a) Growing unemployment
b) Less discretionary Income
c) Increased consumer demand
d) Decrease completion

Why must sports and entertainment markets pay attention to consumer trends?
a) To make more money
b) To design better souvenirs
c) Trend are reflective of current consumer wants and needs
d) All of the above

Researching the demographics of a fan base for a particular sport would be most closely associated with which core standard of marketing?
a) Distribution
b) Pricing
c) Marketing information Management
d) Financing

____________ is a way to make customers aware of products and encourage them to buy.
a) Price
b) Marketing
c) Promotion
d) Distribution

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

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