Marketing Basics for Sports and Entertainment Events

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What is the primary focus of the text?

The retirement of Shaquille O’Neal from NBA basketball

The marketing mix in sports and entertainment events (correct)

The luxurious features of the Buick LaCrosse

The endorsement of Buick LaCrosse by Shaquille O’Neal

What did Shaquille O’Neal endorse after retiring from playing NBA basketball?

Marketing mix

Buick LaCrosse (correct)

Television commercials

NCAA weekend broadcasts

What did Buick aim to achieve by airing the commercial during televised NCAA weekend broadcasts?

Showcase the luxurious interior of Buick LaCrosse

Capture the attention of basketball fans (correct)

Promote discretionary income

Highlight Shaquille O’Neal's talents

What is mentioned as one of the attractive features of the Buick LaCrosse in the commercial?

36 miles-per-gallon fuel-efficiency Signup and view all the answers

What do marketers rely on to perform the tasks associated with marketing?

Marketing mix Signup and view all the answers

What does the term 'price' refer to in the context of the marketing mix?

The amount that customers pay for products Signup and view all the answers

Why must marketers carefully consider the product offerings for sports and entertainment?

To choose the right products to meet the needs and wants of the market Signup and view all the answers

What does 'discretionary income' refer to in the text?

The amount of money individuals have available to spend after paying for necessities Signup and view all the answers

What is the primary function of distribution in marketing?

Transporting or delivering goods to final customers Signup and view all the answers

Why do prices charged for sports and entertainment events need to be sensitive to consumer demand and the state of the economy?

To cover the costs of the business and make a profit Signup and view all the answers

What is the primary focus of the marketing concept?

Satisfying customer needs and wants while also making a profit Signup and view all the answers

What does the term 'target market' refer to?

Potential customers who have a need or want for a product and the resources to make the purchase Signup and view all the answers

What does 'marketing-information management' involve?

Gathering and analyzing information to improve decision making Signup and view all the answers

What is involved in 'product/service management'?

Acquiring, developing, and improving products to better serve customers Signup and view all the answers

What is 'personal selling'?

Any face-to-face contact with customers to determine and fulfill their needs and wants Signup and view all the answers

What does 'financing' involve in the context of marketing?

Budgeting for business operations and offering assistance to customers in buying the business’s products Signup and view all the answers

What does the 4 P's, also known as the marketing mix, comprise of?

Product, Place, Promotion, Price Signup and view all the answers

Which term is used to describe a basic necessity such as food, clothing, or shelter?

Necessity Signup and view all the answers

What is the term for the amount that customers pay for products - goods or services?

Price Signup and view all the answers

Which process decides where and how products will be made available to customers?

Place (Distribution) Signup and view all the answers

Which term refers to any communication designed to inform, persuade, or remind customers about the goods and services offered by the business?

Promotion Signup and view all the answers

What does a channel of distribution refer to?

The path that a product takes from the producer to the consumer Signup and view all the answers