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MKT828 - Midterm Exam 1 Practice
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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</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</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</p> Signup and view all the answers

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

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

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

    <p>Crosstabulations</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</p> Signup and view all the answers

    What does Porter's Five Forces examine?

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

    What is the primary purpose of custom research?

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

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

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

    What is the purpose of promotion in marketing?

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

    What are the different forms of promotional marketing activity?

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

    What is the role of apparel in sports marketing?

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

    What is brand equity?

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

    What is brand loyalty?

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

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

    <p>Occasional</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</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</p> Signup and view all the answers

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

    <p>Surveys</p> Signup and view all the answers

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

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

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

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

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

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

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

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

    What is the purpose of promotion in marketing?

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

    What are the different forms of promotional marketing activity?

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

    What is the primary purpose of leveraging brand equity?

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

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

    <p>Moderate</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</p> Signup and view all the answers

    What is the primary purpose of custom research?

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

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

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

    What is the role of apparel in sports marketing?

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

    What is the primary purpose of leveraging brand equity?

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

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

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

    What is the primary purpose of leveraging brand equity?

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

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

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

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

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

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

    <p>Interviews</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</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</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</p> Signup and view all the answers

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

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

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

    <p>Venue</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</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</p> Signup and view all the answers

    What is the primary purpose of leveraging brand equity?

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

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

    <p>Equipment</p> Signup and view all the answers

    What is the primary purpose of leveraging brand equity?

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

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

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

    What is the purpose of promotion in marketing?

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

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