SEM Final Review Question Preview (ID: 37938)


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The Dallas Cowboys stadium was built for $1.2 billion. The stadium and the money used to build it would be considered which of the 4 economic resources?
a) Land
b) Labor
c) Capital
d) Entrepreneurship

The most important aspect of marketing is
a) Running commercials
b) Satisfying the needs of the customer
c) Making a profit
d) All of the above

Demographics
a) Categorize market segments by age, gender, race, income and education level
b) Refer to the frequency of use of a product
c) Refer to interests, values, and economic responses
d) Consider different parts of the country where market segments live

Businesses that focus on the marketing concept will
a) Face little competition
b) Always be profitable
c) Focus on satisfying the customer needs
d) Experience high productivity

A ___________ ____________ is a specific group of consumers you want to reach
a) Lovely neighborhood
b) Marketing pocket
c) Target market
d) Small clique

Costs of sports and entertainment events include
a) Salaries, facilities, and promotion
b) Income, sales, revenue
c) Investors, networks and revenue
d) None of the above

The four classification of risk management are
a) Gain and loss risks, insurable risks, risk avoidance and controllable risks
b) Financial loss, personal injury, insurance and property loss
c) Risk transfer, risk retention, risk avoidance, and insurance
d) Fire, thefts, damage and floods

Discretionary income is the money a person has
a) Before they pay taxes
b) After they pay for necessities
c) To spend on wants
d) Both b c

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

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

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

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

Which of the below would represent a direct economic impact from a major events such as NFL Super bowl or the Oscar Awards
a) Hotel Rentals
b) Purchases made at retailers
c) Restaurant Sales
d) All of the above

Industry _____________ provide the average expectation within an industry
a) Regulations
b) Trends
c) Norms
d) Tiers

Entertainment is viewed in two ways. First by being a product to market and second
a) As a way to pay celebrities large salaries
b) To draw attention to other products to be purchased
c) To consume people free time
d) All of the above

A business project in which two or more organizations work together and share the cost and profits is called
a) An industry
b) A joint venture
c) Travel trade
d) Ecotourism

Purchases based on loyalty to a particular brand or product
a) Repeat customer
b) Patronage purchase
c) Loyal customer
d) Emotional purchase

Theme parks are opening in India due to
a) Economic growth
b) More discretionary income
c) Available leisure time
d) All of the above

This states that when prices goes ups demand goes down, and when prices goes down demand goes up.
a) The Law of Industrialization
b) The Law of Globalization
c) The Law of Demand
d) The Law of Supply

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