MKT828 - Midterm Exam 1 Practice
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Questions and Answers

Which of the following is a component of segmentation based on 'state of being' according to the text?

  • Age (correct)
  • Product usage
  • Product benefits
  • Personality traits

What is the 80-20 rule mentioned in the text?

  • 80 percent of business comes from 20 percent of the customers (correct)
  • 20 percent of business comes from 80 percent of the customers
  • 80 percent of business comes from 80 percent of the customers
  • 20 percent of business comes from 20 percent of the customers

Which of the following is a level of consumption mentioned in the text?

  • Heavy, Medium, and Light (correct)
  • Innovators, Thinkers, Achievers
  • Geography, Age, Income
  • Affiliation, Achievement, Status

Which of the following is NOT a method of qualitative research mentioned in the text?

<p>Market research online communities (A)</p> Signup and view all the answers

Which of the following is NOT a method of quantitative research mentioned in the text?

<p>Direct mail (C)</p> Signup and view all the answers

What should be the first step in the marketing planning process?

<p>Develop strategic vision, business mission, and values (D)</p> Signup and view all the answers

Which of the following is NOT a revenue source mentioned in the text?

<p>Product placement (B)</p> Signup and view all the answers

Which type of analysis examines the interaction between two or more variables?

<p>Crosstabulations (D)</p> Signup and view all the answers

Which quadrant in the Growth Strategy Matrix represents developing new products to compete within existing markets?

<p>Product development (D)</p> Signup and view all the answers

What does Porter's Five Forces examine?

<p>All of the above (D)</p> Signup and view all the answers

What is the primary purpose of custom research?

<p>To customize and implement a methodology (C)</p> Signup and view all the answers

Which of the following is NOT a component of the event experience in sports?

<p>Sales promotion (B)</p> Signup and view all the answers

What is the purpose of promotion in marketing?

<p>To increase sales and public awareness (C)</p> Signup and view all the answers

What are the different forms of promotional marketing activity?

<p>Paid media, earned media, and sales (A)</p> Signup and view all the answers

Why is it important for a promotional strategy to attract both nonusers and repeat users?

<p>Repeat users are the lifeblood of the organization (B)</p> Signup and view all the answers

Which of the following is NOT a factor that contributes to star power in sports?

<p>Coaches and owners can also be stars (B)</p> Signup and view all the answers

Why must sport marketers be careful in promoting fan behavior as part of the event experience?

<p>Unruly fans can poison the atmosphere and incite violence (D)</p> Signup and view all the answers

What is the role of apparel in sports marketing?

<p>Apparel serves as a promotional tool (A)</p> Signup and view all the answers

What do personnel, process, and physical facilities refer to in the context of sport marketing?

<p>The event staff and their interaction with consumers (D)</p> Signup and view all the answers

Which of the following is a benefit of using online surveys for collecting feedback?

<p>Ability to target specific participants (A)</p> Signup and view all the answers

What is brand equity?

<p>The value provided by a product or service to a firm (C)</p> Signup and view all the answers

What is the 80-20 rule?

<p>Approximately 80 percent of market consumption comes from only 20 percent of the consumers (C)</p> Signup and view all the answers

What is brand loyalty?

<p>The ability to retain customers across product lines (B)</p> Signup and view all the answers

Which of the following is a component of segmentation based on 'state of mind' according to the text?

<p>Personality traits (D)</p> Signup and view all the answers

Which of the following is NOT a level of consumption mentioned in the text?

<p>Occasional (B)</p> Signup and view all the answers

What is the primary purpose of the 80-20 rule mentioned in the text?

<p>To determine the proportion of business that comes from repeat customers (A)</p> Signup and view all the answers

Which of the following is NOT a component of the marketing planning process mentioned in the text?

<p>Analyzing competitors (B)</p> Signup and view all the answers

Which of the following is NOT a method of market research mentioned in the text?

<p>Surveys (A)</p> Signup and view all the answers

What is the primary purpose of qualitative research mentioned in the text?

<p>To understand consumer behavior (B)</p> Signup and view all the answers

What is the primary purpose of quantitative research mentioned in the text?

<p>To collect quantitative data (C)</p> Signup and view all the answers

Which of the following is NOT a method of quantitative research mentioned in the text?

<p>Demographic profiling (C)</p> Signup and view all the answers

What is the primary purpose of custom research?

<p>To customize and implement a methodology for obtaining data (A)</p> Signup and view all the answers

Which quadrant in the Growth Strategy Matrix represents existing products in new markets?

<p>Market development (C)</p> Signup and view all the answers

What is the purpose of Importance-Performance Analysis mentioned in the text?

<p>To determine how well an organization is meeting customer service quality (A)</p> Signup and view all the answers

Which of the following is NOT a component of the event experience in sports?

<p>Promotional activities (C)</p> Signup and view all the answers

What is the purpose of promotion in marketing?

<p>To stimulate interest in a product (B)</p> Signup and view all the answers

What are the different forms of promotional marketing activity?

<p>All of the above (D)</p> Signup and view all the answers

Why is it important for a promotional strategy to attract both nonusers and repeat users?

<p>Repeat users are more profitable (B)</p> Signup and view all the answers

Which of the following is NOT a benefit of brand equity mentioned in the text?

<p>Strong mental or emotional associations (C)</p> Signup and view all the answers

What is the primary purpose of leveraging brand equity?

<p>To generate new revenue for sport organizations (B)</p> Signup and view all the answers

What is the 80-20 rule mentioned in the text?

<p>Approximately 80 percent of market consumption comes from only 20 percent of the consumers (C)</p> Signup and view all the answers

Which of the following is NOT a method of leveraging brand equity mentioned in the text?

<p>Market segmentation (C)</p> Signup and view all the answers

Which of the following is NOT a key factor contributing to star power in sports?

<p>Used for social activism (A)</p> Signup and view all the answers

What is the role of fans in sport events according to the text?

<p>They are an essential part of any sport event and expand the drama (B)</p> Signup and view all the answers

What is the significance of equipment and apparel in sports marketing?

<p>They are used as promotional tools (D)</p> Signup and view all the answers

What do personnel, process, and physical facilities refer to in the context of sport marketing?

<p>The event staff, the manner in which they go about their jobs, and the environment presented (A)</p> Signup and view all the answers

Which of the following is NOT a component of segmentation based on 'state of being' according to the text?

<p>Preferences and perceptions (A)</p> Signup and view all the answers

What does the 80-20 rule state according to the text?

<p>80 percent of business comes from 20 percent of the customers (C)</p> Signup and view all the answers

Which of the following is NOT a level of consumption mentioned in the text?

<p>Moderate (B)</p> Signup and view all the answers

Which of the following is NOT a method of qualitative research mentioned in the text?

<p>Market research online communities and social media sites (A)</p> Signup and view all the answers

What is the primary purpose of custom research?

<p>To tailor research to specific needs (D)</p> Signup and view all the answers

What is the primary purpose of quantitative research mentioned in the text?

<p>To collect numerical data (B)</p> Signup and view all the answers

What is the purpose of Importance-Performance Analysis mentioned in the text?

<p>To identify areas for improvement (B)</p> Signup and view all the answers

Which of the following is a key factor contributing to star power in sports?

<p>The presence of fans (D)</p> Signup and view all the answers

What is the role of apparel in sports marketing?

<p>To differentiate sport products from competitors (D)</p> Signup and view all the answers

What is the primary purpose of leveraging brand equity?

<p>To generate revenue through brand partnerships (B)</p> Signup and view all the answers

What is the significance of equipment and apparel in sports marketing?

<p>They provide revenue streams for sport organizations (D)</p> Signup and view all the answers

Which of the following is a form of earned media in promotional marketing activity?

<p>Mentions in a blog (B)</p> Signup and view all the answers

Which of the following is NOT a component of the event experience in sports?

<p>Promotional activities (A)</p> Signup and view all the answers

Which of the following is a tactic that can be used in a promotional strategy?

<p>All of the above (D)</p> Signup and view all the answers

What has contributed to increases in batting average, runs, and stolen-base success rate in MLB?

<p>All of the above (D)</p> Signup and view all the answers

Which of the following is NOT a drawback of using online surveys for collecting feedback?

<p>May not provide accurate data (D)</p> Signup and view all the answers

What is the primary purpose of leveraging brand equity?

<p>To generate new revenue (C)</p> Signup and view all the answers

What is the significance of equipment and apparel in sports marketing?

<p>They enhance the event experience (A)</p> Signup and view all the answers

What is the primary purpose of quantitative research mentioned in the text?

<p>To understand consumer behavior and preferences (B)</p> Signup and view all the answers

Which of the following is NOT a step in the Customer Loyalty Ladder according to the text?

<p>Brand supporter (B)</p> Signup and view all the answers

Which of the following is NOT a quadrant in the BCG Matrix according to the text?

<p>Questionable products: low performers in high-growth markets may require investment and shifts in marketing strategy (B)</p> Signup and view all the answers

Which of the following is NOT a quadrant in the Growth Strategy Matrix according to the text?

<p>Diversification-new products into new markets (B)</p> Signup and view all the answers

Which of the following is NOT a quadrant in the Importance-Performance Analysis according to the text?

<p>Importance (high), Satisfaction (high) (D)</p> Signup and view all the answers

Which of the following is NOT a component of segmentation based on 'state of being' according to the text?

<p>Personality traits (A)</p> Signup and view all the answers

What is the 80-20 rule mentioned in the text?

<p>80 percent of business comes from 20 percent of the customers (B)</p> Signup and view all the answers

Which of the following is a level of consumption mentioned in the text?

<p>Heavy users (A)</p> Signup and view all the answers

Which of the following is NOT a component of the marketing planning process mentioned in the text?

<p>Identifying target market segments (D)</p> Signup and view all the answers

What is the primary purpose of custom research?

<p>To customize and implement a methodology for obtaining data (D)</p> Signup and view all the answers

Which of the following is NOT a method of quantitative research mentioned in the text?

<p>Interviews (B)</p> Signup and view all the answers

Which quadrant in the Growth Strategy Matrix represents developing new products to compete within existing markets?

<p>Product development (B)</p> Signup and view all the answers

Which of the following is NOT a step in the marketing planning process according to the text?

<p>Develop strategic vision, business mission, and values (D)</p> Signup and view all the answers

What is the primary purpose of the marketing planning process according to the text?

<p>To outperform competitors and sustain competitive advantage (D)</p> Signup and view all the answers

Which of the following is NOT a revenue source mentioned in the text?

<p>Direct mail (D)</p> Signup and view all the answers

What is the significance of equipment and apparel in sports marketing according to the text?

<p>They contribute to brand equity (C)</p> Signup and view all the answers

Which of the following is NOT a component of the event experience in sports?

<p>Venue (A)</p> Signup and view all the answers

What is the primary purpose of qualitative research mentioned in the text?

<p>To understand consumer perceptions, opinions, and experiences (C)</p> Signup and view all the answers

What is the significance of equipment and apparel in sports marketing?

<p>They are essential components of the event experience (D)</p> Signup and view all the answers

What is the primary purpose of leveraging brand equity?

<p>To enhance brand loyalty (B)</p> Signup and view all the answers

Which of the following is NOT a component of the event experience in sports?

<p>Equipment (B)</p> Signup and view all the answers

What is the primary purpose of leveraging brand equity?

<p>To differentiate a sport product from competitors (D)</p> Signup and view all the answers

What is the significance of equipment and apparel in sports marketing?

<p>All of the above (D)</p> Signup and view all the answers

What is the role of fans in sport events according to the text?

<p>To enhance the drama and spectacle of the event (A)</p> Signup and view all the answers

Which of the following is NOT a benefit of brand equity mentioned in the text?

<p>Increased customer loyalty (D)</p> Signup and view all the answers

What is the purpose of promotion in marketing?

<p>All of the above (D)</p> Signup and view all the answers

What is the 80-20 rule mentioned in the text?

<p>Approximately 80 percent of market consumption comes from only 20 percent of the consumers (A)</p> Signup and view all the answers

Which of the following is NOT a method of leveraging brand equity mentioned in the text?

<p>Celebrity endorsements (A)</p> Signup and view all the answers
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