Transcript Sports and Entertainment Marketing 1

Sports and Entertainment
Marketing 1
Objective 4.07
Yield management is a way that sport/event
marketers address product pricing issues when they
want to maximize revenue but have
A.
B.
C.
D.
below-market stock value.
unallocated resources.
limited capacity.
few distribution intermediaries.
C. limited capacity.
Wintergreen Ski Area knows that the area will be
most successful if it bases its pricing structure o
A.
B.
C.
D.
costs associated with renovations
what the market will bear.
total cost of the experience
inelastic demand for skiing.
B. what the market will bear.
The additional cost of paying for parking and
buying refreshments and programs is part of the
overall __________ of attending a concert.
A.
B.
C.
D.
benefit
price
Goal
goal
B. price
In sports and entertainment marketing, the concept
of price includes not only the cost of a ticket to an
event but also the
A.
B.
C.
D.
value of the overall experience.
quality of the media advertising
elements of the marketing plan.
location of the facility.
A. value of the overall experience
Which of the following is a tangible benefit of
purchasing a surfboard:
A.
B.
C.
D.
It is the most popular brand on the market.
It gives you the opportunity to join a surfing club.
It allows you to spend time with your friends at the beach.
It has a wrist strap to keep it connected to you in the water
D. It has a wrist strap to keep it
connected to you in the water
Which of the following is a company-focused pricing
objective for sport/event products:
A.
B.
C.
D.
Offering the most discounts to customers
Offering the lowest prices
Enhancing image
Achieving a price customers feel is "fair"
C. Enhancing image
Why might a sport/event organization price entry fees
for a marathon below the normal rate?
A.
B.
C.
D.
To establish their event as "luxury"
To encourage maximum participation
To create profits
To meet competitors' prices
B. To encourage maximum
participation
When prices go up or down, the change can affect how
much of the sport/event product customers purchase.
This is the general principle of
A.
B.
C.
D.
elasticity.
market segmentation
smoothing.
"total cost."
A. elasticity
Which pricing strategy sets prices lower than those of
the competition?
A.
B.
C.
D.
Smoothing
Stretching
Penetration
Skimming
C. Penetration