Sales Exam PDF

1. Which of the following is a false description of the different components of STP? Hide answer choices Segmentation: it is about breaking our market down into homogenous reachable groups, where the market should be identifiable, accessible, responsive and sustainable; it is about ans...

1. Which of the following is a false description of the different components of STP? Hide answer choices Segmentation: it is about breaking our market down into homogenous reachable groups, where the market should be identifiable, accessible, responsive and sustainable; it is about answering questions such as who, what, where, why, when and how Targeting: it is where we ask as to which of groups of market should we commit our resources to reach, and where we assess the size, reach, profitability and measurability, and then select target Positioning: it is where we ask as to how we want the selected target(s) to perceive our offering versus the offerings of our competition, and assess a given market segment and determine where each offering is currently positioned; and then select a position for the product to occupy in the mind of the target market segment Correct: All of the above are the correct descriptions of the STP components. Correct answer 2. Question 2 0/0 If a sport marketer is trying to target a group of people based on their occupation, they would most likely be using which type of market segmentation? Hide answer choices Geographic Behavioral Correct: Socioeconomic Correct answer Psychographic 3. Question 3 0/0 Segmentation of groups based on age, gender or ethnic background is defined as Hide answer choices Correct: demographic segmentation.  Correct answer socioeconomic segmentation. psychographic segmentation. geographic segmentation. 4. Question 4 0/0 This particular market segmentation focuses on grouping consumers based on their personalities, lifestyles, etc. It seeks to figure out “why” people do certain things. Hide answer choices Demographic segmentation Socioeconomic segmentation Correct: Psychographic segmentation Correct answer Geographic segmentation 5. Question 5 0/0 Which of the following is NOT considered a consumer of sport? Hide answer choices The spectator The participant The sponsors Correct: All of the above are consumers of sport Correct answer 6. Question 6 0/0 __________________refers to decisions made to segment markets, choose targetedconsumers, and position the sports product against the competition.  Hide answer choices Market selection decisions STP Corporate decision Correct: a and b Correct answer 7. Question 7 0/0 Perceptual maps provide marketers with all of the following except: Hide answer choices Indicate the dimensions or attributes that consumers use when thinking about a sports product or service. Tell sports marketers where different sports products or services are located on those dimensions. Correct: How much consumers purchase, how often they purchase, and how loyal they are to a product or service. Correct answer How your product is perceived relative to the competition. 8. Question 8 0/0 Which of the following is a false description of the different components of STP? Hide answer choices Segmentation: it is about breaking our market down into homogenous reachable groups, where the market should be identifiable, accessible, responsive and sustainable; it is about answering questions such as who, what, where, why, when and how Targeting: it is where we ask as to which of groups of market should we commit our resources to reach, and where we assess the size, reach, profitability and measurability, and then select target Positioning: it is where we ask as to how we want the selected target(s) to perceive our offering versus the offerings of our competition, and assess a given market segment and determine where each offering is currently positioned; and then select a position for the product to occupy in the mind of the target market segment Correct:  All of the above are the correct descriptions of the STP components. Correct answer 9. Question 9 0/0 What do the letters in AIO dimensions stand for? Hide answer choices Correct: Activities, Interest, and Opinions Correct answer Athletics, Interest, and Optimism All of the above None of the above 10. Question 10 0/0 The “Perceptual Map” is a _______ tool that displays the location of products or brands in the mind of the consumers in the target market of interest. Hide answer choices Segmentation Targeting Correct: Positioning Correct answer STP Marketing 1. Which of the following is not one of the three unique features/aspects of sport business (discussed in class) that makes it different from other mainstream businesses? Hide answer choices Its product has unique features It has conventional sources of finance  Correct answer Its distinctiveness as a social institution Incorrect: All of the above unique features of sport business 2. Question 2 0/0 The three segments that are identified in the product type model of sport industry segmentation are ____________, ____________, and ____________. Hide answer choices Correct: Sport performance; sport production; sport promotion Correct answer Professional sport; sport agency; sport events Games; institutions; supporting sectors Sport product; sport activity; sport promotion 3. Question 3 0/0 In this course, sport is defined as an organized, competitive, and skillful physical activity. In this definition there are three core concepts, and one of these concepts is described below incorrectly Hide answer choices Organized means having a set of rules that governs the physical activity Competitive means that an individual or team need to compete against another or others Skill means that the physical activity demands training, knowledge, and experience that is needed to do something well Correct: All are described correctly Correct answer 4. Question 4 0/0 Which of the following is NOT considered a consumer of sport?  Hide answer choices The spectator The participant The sponsors Correct: All of the above are consumers of sport Correct answer 5. Question 5 0/0 What makes a sport offering (e.g. a hockey game) different from those offerings sold by the likes of car manufacturers, airline companies, banks, hotels, etc.? Hide answer choices A sport offering is simultaneously produced and consumed, and perishable. Correct answer The supply for a sport offering always matches the demand for the offering and there is production interdependency among the different sport teams Sport offering is of variable quality, and it is unique in that there is certainty of outcome in the offering Incorrect: All of the above 6. Question 6 0/0 Sport enterprises earn a significant portion of revenue not only from sale of a product (i.e., Gate receipts/ ticket sales) but from: Hide answer choices Sponsorship sales Media right and naming right deals Licensing fee and merchandise sales Correct: All of the above Correct answer  All but C 7. Question 7 0/0 Sport is a ____________ institution of astonishing magnitude and influence as evidenced by the passion that fans exhibit, its allotment of several pages in the daily newspaper, its own slot on every television and radio news program, and its own cable channels. Hide answer choices Correct: Social Correct answer Behavioural Economic Politics free 8. Question 8 0/0 Sport marketing (and sport as a product) is a unique aspect of sport management because Hide answer choices Correct: it has fixed supply Correct answer it is consumed rationally the events are consistent there is great certainty surrounding the results 9. Question 9 0/0 What makes a sport offering (e.g. a basketball game) different from those offerings sold by the likes of car manufacturers, airlines, banks, hotels, grocery stores, etc.? Hide answer choices  A sport offering is simultaneously produced and consumed, and perishable. A sport offering has a fixed supply and there is production interdependency among the different sport teams Sport offering is of variable quality, and it is unique in that there is uncertainty of outcome in the offering Correct: All of the above Correct answer All of the above are unique features except A 10. Question 10 0/0 Sport financing is a unique aspect of the professional sport business because Hide answer choices most of the revenue (in all sports) comes from gate receipts extraneous revenue sources are unimportant Correct: a significant portion of sport enterprise revenues come from unconventional revenue centers such as sponsorship, naming rights, merchandise, TV rights, etc. Correct answer there is no financial accountability for sport managers. 1. _________ is the final stage on the hierarchy of effects model. Hide answer choices Power Information Intention Correct: Action/ Purchase Correct answer 2. Question 2 0/0 Discounts, ‘buy one & get one free’, contests, and coupons are examples of which of the following elements of the marketing communication?  Hide answer choices Incorrect: Promotion Sales promotion Correct answer Advertising Publicity 3. Question 3 0/0 A form of one-way mass communication about a product, service, or idea, paid for by an identified sponsor is considered what? Hide answer choices Personal selling Promotion Sponsorship Correct: Advertising Correct answer 4. Question 4 0/0 Which of these elements is not part of the promotional mix elements discussed in class? Hide answer choices Advertising Personal selling Sponsorship Correct: Communication Correct answer 5. Question 5 0/0  Which of the following statement is false about public relations (PR)? Hide answer choices PR is a deliberate and planned effort to build a positive image to the public. PR audience does not necessary need to be customers but the publics at large PR can be a low cost element of promotion mix but it is not free and demands a well planned approach Correct: None of the above are false statements regarding PR Correct answer 6. Question 6 0/0 _________________ is one of the marketing mix elements that is referred to as a set of activities which communicate a product/brand, service or idea to consumers.: Hide answer choices Marketing communication Incorrect: Promotion Placement a and b Correct answer 7. Question 7 0/0 What is the fundamental process of the promotional mix? In other words, what does the promotional mix ultimately depend on to be successful? Hide answer choices Correct: Communication Correct answer Knowledge Discernment Passion 8. Question 8 0/0 ________________ is defined as an investment, in cash or in kind, in an activity, in return for access to the exploitable commercial potential associated with that activity Hide answer choices Advertising Promotion Correct: Sponsorship Correct answer Digital promotion 9. Question 9 0/0 __________________refers to a blend of promotional tools/ elements used to communicate to/with consumers. Hide answer choices Incorrect: Marketing mix Communication mix Promotional mix Correct answer Advertising mix 10. Question 10 0/0 Which of the following is wrong regarding the nature of personal selling? Hide answer choices It is often used in sport to sell luxury box seats, season ticket sales, etc. Personal selling demands the use of well trained and skilled sales representatives Incorrect: It is one of the expensive marketing communication elements  It is the oldest but most effective form of marketing communication All of the above are true regarding personal selling Correct answer 11. Question 11 0/0 ________________ is a planning process designed to ensure that the different promotional mix elements are delivering a unified message about an organization or its products. Hide answer choices Correct: Integrated Marketing Communication Correct answer Combined Marketing Communication Marketing Communication Mix All of the above 12. Question 12 0/0 Which of the following is not an example of a marketing communication medium? Hide answer choices TV Stadium sign Websites Correct: Market plan Correct answer 13. Question 13 0/0 An interactive form of interpersonal communication designed to build customer relationships and produce sales or sports products, services, or ideas. Hide answer choices  Trademarking Sponsorship Correct: Personal selling Correct answer None of the Above 14. Question 14 0/0 What is not a phase of promotional planning? Hide answer choices Determining promotional budget Incorrect: Identifying target market consideration Setting promotional objectives Stimulate demand for the product Correct answer 15. Question 15 0/0 Which of the following is NOT a promotion mix tool? Hide answer choices Advertising Correct: Investments Correct answer Personal selling Public relations 1. Efforts to support one’s sponsorship with additional strategic initiatives is known as Hide answer choices Correct: activation  Correct answer cross promotion. return on investment. sales promotion 2. Question 2 0/0 Reasons for the tremendous growth in sport sponsorship over the past three decades include Hide answer choices the commercial success of the NFL the increased media interest in sport. sponsorship being viewed as a way for companies to break through the clutter of traditional advertising. Correct: b and c Correct answer 3. Question 3 0/0 Today’s sport sponsorship can be described as Hide answer choices companies delving into a sponsorship program because the CEO wants to. Correct: a discipline involving serious research, large investments, and strategic planning. Correct answer a company’s CEO being knowledgeable about the sport sponsorship business and making the decision him- or herself. company wanting to be associated with a sport team because of the interaction with professional athletes. 4. Question 4 0/0 Which of the following are typical of the contractual commitments made by sportsponsors?  Hide answer choices a rights fee in the form of a cash payment a multi-year commitment a promise to provide services at a discount to league employees and players Correct: all of these are correct. Correct answer 5. Question 5 0/0 Which type of sponsorship platform would be more appropriate for local or regionalcompanies or companies with smaller marketing budgets? Hide answer choices Governing body sponsorship Correct: Team sponsorship Correct answer Athlete sponsorship Facility sponsorship 6. Question 6 0/0 Which of the following is not a benefit typically provided to a corporate sponsor Hide answer choices Exclusivity: The only company allowed as a sponsor in a particularproduct/service category “Official” designation: Leagues and teams offer multiple designations tied to thesport and to the sponsor’s product or service category Rights: To utilize the sport organization’s intellectual property (i.e., logos) inadvertising and promotion campaigns In-stadium signage and promotional announcements: Using in-stadium signageopportunities and public address announcements Correct: None Correct answer 7. Question 7 0/0 In sponsorship process, which of the following entities form what is referred as thesponsorship triangle? Hide answer choices Correct: sponsor, sponsee, and media Correct answer sponsor, agent, and sponsee sponsee, media, and property owner none of the above 8. Question 8 0/0 Which of the following stages of sponsorship (or SponsorMap Model) is in the right order Hide answer choices Correct: attention, understanding, engagement, appreciation, and commitment Correct answer attention, understanding, appreciation, engagement, and commitment attention appreciation, understanding, appreciation, and commitment attention, engagement, appreciation, understanding and commitment 9. Question 9 0/0 Which of the following sponsorship category takes the lion share of the global sponsorship spending? Hide answer choices cause-related marketing festival, fairs & annual events associations and membership organizations tours & attractions  Correct: none Correct answer 10. Question 10 0/0 Sponsorship provides a company with all of the following except Hide answer choices opportunities to leverage its affiliation in order to achieve marketing objectives. opportunities to generate incremental sales by entertaining key customers. opportunities to generate positive awareness for the company and its products or services. Correct: opportunities to receive revenue back from the team or league based on success on the field/court. Correct answer 11. Question 11 0/0 In the 1980s and early 1990s sponsorship is viewed primarily as __________________ Hide answer choices an alternative to advertising Philanthropy a way of obtaining media exposure Correct: A and C. Correct answer 12. Question 12 0/0 Which type of sponsorship platform would be more appropriate for larger, internationalcompanies with large financial resources? Hide answer choices  Team sponsorship Incorrect: Broadcast sponsors Sport-specific sponsorship Governing body sponsorship 1. Which of the following is not one of the four planning steps included in ‘gathering inputs’ stage of sponsorship proposal? Hide answer choices Incorrect: preparing an inventory of offerings identifying target markets prospecting for a sponsor researching short-listed sponsors All of the above are included in the four planning steps Correct answer 2. Question 2 0/0 What are the two different but interrelated key steps or tasks that need to be completed to prepare a sponsorship proposal? Hide answer choices gathering input for the proposal, and developing the proposal Correct answer Incorrect: preparing an inventory of offerings, and identifying a target market prospecting for a sponsor, and researching short-listed sponsors All of the above are the steps 3. Question 3 0/0 In preparing a sponsorship proposal, which one of the following is a common mistake that is observed in most weak sponsorship proposals? Hide answer choices  They tend to be self-centered by emphasizing on a sponsee’s need and prestige They tend not to establish the fit and relevance Incorrect: They only offer hygiene benefits/ commodity benefits/ common benefits They are poorly structured and more talk about board profile, clippings from last year event All of the above are the most common mistakes observed in weak proposals Correct answer 4. Question 4 0/0 In preparing your sponsorship proposal you will be required to identify your target markets. Which of the following statemen is incorrect about identifying a target market? Hide answer choices The more data you have on your audience, the lesser the selling power of your proposal Correct answer The goal of identifying a target market is to provide the potential sponsor with the details of who they can potentially reach with the sponsorship. identifying a target market helps to show the breakdown of the property’s audience in terms of factors such as demography, socioeconomic features, geographic characteristics, etc. Incorrect: All of the above are correct 5. Question 5 0/0 In ‘gathering input’ stage of the sponsorship proposal development, researching short-listed sponsors should not address one of the following points Hide answer choices Assess whether there is a natural fit with the potential sponsor Gather information to gauge the potential sponsor’s interest in your property (e.g., online) Incorrect: Investigate the financial ability of the potential sponsor Prioritize your list, focus on needs of short-listed potential sponsors, and identify the right contact All of the above are points that should be addressed in researching short-listed sponsors Correct answer 6. Question 6 0/0 Which of the following statement is wrong regarding the preparation of inventory of offerings? Show answer choices 7. Question 7 0/0 Prospecting for a sponsor is one of the steps in preparing your sponsorship proposal. Which of the following statement is incorrect about prospecting for a sponsor? Hide answer choices Prospecting refers to short-listing potential sponsors Correct answer Prospecting refers to identifying a list of potential sponsors who might have interest in your assets and target markets It is about identifying a set of matching potential sponsors for your property It helps to stay efficient and avoid wasting resources pursuing brands who do not share your audience or value the assets you have 8. Question 8 0/0 There are three considerations in prospecting potential sponsors. Which of the following is not one of the considerations? Hide answer choices List down an exhaustive list of potential sponsors that might or might not be interested in sponsoring your property Correct answer Limit to sponsors whose target market is similar to the sport property Consider the sponsors of other similar properties to yours Incorrect: All of the above are considerations taken into account 9. Question 9  0/0 In preparing a sponsorship proposal, which of the following correct? Hide answer choices You should include segmentation information (e.g., inform why yourcustomers love your property such as psychographic information) You should include your marketing plan (e.g., what objective that youare trying to change, what you do on social media) Incorrect: You should include leveraging ideas (e.g., provide at least 4 to 8leveraging idea). All except c All - a to c - are correct Correct answer 10. Question 10 0/0 Which of the following statement is wrong regarding the contents/ points that need to be included in a sponsorship proposal? Hide answer choices It is important to include segmentation in a sponsorship proposal as it shows why your fans are drawn into your property, which helps potential sponsors to relate their target market It is important to outline a marketing plan in a sponsorship proposal because it informs potential sponsors as to what objective you are trying to achieve Incorrect: It is important to include leveraging ideas in a sponsorship proposal because it helps potential sponsors to understand their approach and set sponsorship budget. All of the above are correct statements that need to be included in sponsorship proposal Correct answer 11. Question 11 0/0 In preparing a sponsorship proposal, which of the following is wrong regarding asto what the title page of a sponsorship proposal should look like: Hide answer choices It should be kept professional – letterhead and may be graphic design Incorrect:  Present the sponsor as the naming/title or presenting sponsor (as if thecontacted sponsor is a title or presenting sponsor) Do not use the company’s logo You need to include your copy right idea All of the above are correct Correct answer 12. Question 12 0/0 In preparing a sponsorship proposal, which of the following is incorrect regarding ‘what is the real job of a sponsorship proposal’? Hide answer choices sponsorship proposal is to help your contact person sell your contact to a company Correct answer sponsorship proposal should help your contact to sell the opportunity internally Incorrect: sponsorship proposal is a document that should effectively communicate your proposal to a potential sponsor All of the above are true 1. Why is sponsorship measurement important to right holders? Hide answer choices It facilitates a better understanding of the promotional potential of an event It helps justify healthy sponsorship rights fees It facilitates renewal of sponsorship agreements All of the above Correct answer 2. Question 2 0/0 Measuring media exposure usually involves quantifying which of the following exposures, which is then measured against paid adverting rate? Hide answer choices duration of television coverage  duration of radio mentions extent of press coverage as measured in single column inches All of the above Correct answer 3. Question 3 0/0 From a practical point of view, sponsorship measurement can be complex and controversial because ______________________ Hide answer choices the simultaneous use of other communications mix variables/carry over effect uncontrollable environmental factors in an economy the pursuit of multiple sponsorship objectives All of the above Correct answer 4. Question 4 0/0 Academically, the measurement of sponsorship so far have been complex and controversial because ______________________. Hide answer choices the literature relating to sponsorship evaluation is underdeveloped for the most part, the literature on sponsorship measurement consists of anecdotal information largely, the literature on sponsorship measurement consists of case studies All of the above Correct answer 5. Question 5 0/0 Which of the following is the limitation of awareness measurements of sponsorshipeffectiveness? Hide answer choices  Often, consumers associate a sponsor with an event based on a brand’s popularity, rather thanremembering a company’s signage on-site Measurement of an image effect can be temporary and depends on integration with othermarketing tools If companies use recall/awareness as an evaluation measure, brands will overestimate theeffect of their sponsorship One can argue that sponsorship effectiveness is much more than awareness, and sponsorshipshould not be considered just as a brand recall All of the above Correct answer 6. Question 6 0/0 Why is sponsorship measurement important to sponsors? Hide answer choices It helps negotiate sponsorship fees It helps identify properties that deliver against objectives It helps refine activation and set activation budgets All of the above Correct answer 7. Question 7 0/0 One of the following is the practical reason why measuring media exposure is the most frequently and widely used type of sponsorship measure? Hide answer choices Measuring media exposure is easy for management to understand Measuring media exposure is relatively easy to collect Measuring media exposure offers statistical data to show that a decision is made on supportive data and provides peace of mind for decision makers All of the above Correct answer 8. Question 8 0/0  Which of the following accurately captures the intent of sponsorship measurement? Show answer choices 1. Why is sponsorship measurement important to right holders? Hide answer choices It facilitates a better understanding of the promotional potential of an event It helps justify healthy sponsorship rights fees It facilitates renewal of sponsorship agreements All of the above Correct answer 2. Question 2 0/0 Measuring media exposure usually involves quantifying which of the following exposures, which is then measured against paid adverting rate? Hide answer choices duration of television coverage duration of radio mentions extent of press coverage as measured in single column inches All of the above Correct answer 3. Question 3 0/0 From a practical point of view, sponsorship measurement can be complex and controversial because ______________________ Hide answer choices the simultaneous use of other communications mix variables/carry over effect uncontrollable environmental factors in an economy the pursuit of multiple sponsorship objectives All of the above Correct answer 4. Question 4 0/0 Academically, the measurement of sponsorship so far have been complex and controversial because ______________________. Hide answer choices the literature relating to sponsorship evaluation is underdeveloped for the most part, the literature on sponsorship measurement consists of anecdotal information largely, the literature on sponsorship measurement consists of case studies All of the above Correct answer 5. Question 5 0/0 Which of the following is the limitation of awareness measurements of sponsorshipeffectiveness? Hide answer choices Often, consumers associate a sponsor with an event based on a brand’s popularity, rather thanremembering a company’s signage on-site Measurement of an image effect can be temporary and depends on integration with othermarketing tools If companies use recall/awareness as an evaluation measure, brands will overestimate theeffect of their sponsorship One can argue that sponsorship effectiveness is much more than awareness, and sponsorshipshould not be considered just as a brand recall All of the above Correct answer 6. Question 6 0/0 Why is sponsorship measurement important to sponsors? Hide answer choices It helps negotiate sponsorship fees It helps identify properties that deliver against objectives It helps refine activation and set activation budgets  All of the above Correct answer 7. Question 7 0/0 One of the following is the practical reason why measuring media exposure is the most frequently and widely used type of sponsorship measure? Hide answer choices Measuring media exposure is easy for management to understand Measuring media exposure is relatively easy to collect Measuring media exposure offers statistical data to show that a decision is made on supportive data and provides peace of mind for decision makers All of the above Correct answer 8. Question 8 0/0 Which of the following accurately captures the intent of sponsorship measurement? Show answer choices 1. Which of the following statement is not true regarding the public view of naming right? Hide answer choices Selling naming rights to an already-existing venue has been notably less successful The presence of a new team and new stadium is negatively related to the price paid by a sponsor for a facility naming right. Correct answer The public reaction to naming right is mixed All of the above are true statements 2. Question 2 0/0  Several reasons were provided for why many professional sports teams are struggling to sell the naming rights to their venues. What is the central reason that teams like the Denver Broncos have found it challenging to find a naming rights partner? Hide answer choices since the Great Depression the naming rights market has completely dried up teams are demanding unrealistically high rights fees a company/companies have already entered into naming rights deals for long time now and it is becoming challenging for new potential prospect to commit itself to the deal Correct answer Companies have discovered that they do not receive an adequate return on investment from naming rights deals 3. Question 3 0/0 Which of the following is true regarding naming rights? Hide answer choices Naming rights are usually negotiated for properties like a multi-purpose arena, performing arts venue or stadiums, as per industry convention Naming rights terms of agreement usually ranges from three to 30 years. In naming rights, longer terms are more common for higher profile venues such as a professional sports facility All of the above are true. Correct answer 4. Question 4 0/0 Which of the following statement is true regarding naming rights? Hide answer choices Naming rights sold to newly constructed venues have largely been accepted by the public Naming rights sold to a buyer that is well-established and has strong local connections to the area has a high chance of being accepted by the general public Selling naming rights to an already-existing venue has been notably less successful All of the above are true statements  Correct answer 5. Question 5 0/0 Which of the following is not one of the three commonly used techniques in naming rights fee valuations? Hide answer choices the cost method the income method the market share methods the pricing method Correct answer 6. Question 6 0/0 Stadium naming rights are an intangible asset and, as such, are difficult to value. However, there are three commonly used techniques of naming rights valuation, and which of the following statement is incorrect about these three techniques? Hide answer choices The cost approach asks how much money would need to be spent in order to acquire the same benefit provided by the intangible from another source. The income approach looks to quantify all of the present and future cash flows from the intangible asset and then compute a net present value (NPV) to find the dollar amount in current dollars. The market approach compares other similar transactions in the marketplace and hopes to gauge value in that manner. - no two deals are identical All of the above describe the three techniques correctly Correct answer 7. Question 7 0/0 Stadium naming may have shifted in recent years to promoting corporate trade names, but in earlier days (of major league sports) is largely traced to the family names of company founders. In this regard, which of the following can be cited as example/s of the first few stadiums that were named after a company name?  Hide answer choices Fenway Park the home of Boston Red Sox. Wrigley Field the home of the Chicago Cubs. Busch Stadium the home of St. Louis Cardinals. All of the above Correct answer 8. Question 8 0/0 Naming rights deals usually contain all of the following provisions except: Hide answer choices details about the number, size and location of each component of signage a clause stating who pays for the costs of changing all branded signage if the sponsor changes names during the deal the inclusion of a luxury suite for the naming rights sponsor all of the above Correct answer 9. Question 9 0/0 Which of the following statement is true regarding naming rights? Hide answer choices Naming rights sold to new venues have largely been accepted Naming rights sold to a buyer that is well-established and has strong local connections to the area has a high chance of being accepted by the public Selling naming rights to an already-existing venue has been notably less successful All of the above are true statements 1. 2. Licensors and licensees (trademark owners) employ which of the following methods to control counterfeit goods? Hide answer choices Using sophisticated security labeling Working with customs  Doing sweeps of popular marketplaces for counterfeit goods All of the above Correct answer 3. Question 2 0/0 In licensed merchandises, which of the following is wrong regarding royalty fees? Hide answer choices Manufacturers of licensed products (licensees) pay teams and leagues (licensors) for the right to manufacture products bearing team and school names, nicknames, colors, and logos. Enables schools and teams to generate brand recognition and interest and to increase revenues with very little financial risk. Licensees assume the risk by manufacturing the product and paying fee to the licensor (royalty) for the use of trademarks on products. All of the above statements are correct Correct answer 4. Question 3 0/0 In the discussion of sport licensing business, which of the following is incorrect? Hide answer choices The licensing agreement spells out the specific grant of rights, including: contract term, financial considerations, product categories, channels of distribution Licensing agreements can be exclusive or non-exclusive, with higher royalty rates generally charged for exclusive product categories or distribution channels. Professional sports teams operate under a collective agreement that pools licensing revenues and operates a ‘properties office’ on behalf of all teams within the league, with a few exceptions. There are approximately 300 colleges and universities that have licensing programs, and many are assisted by a for-profit agency, but several universities operate under an on-campus management model. All of the above are correct Correct answer 5. Question 4 0/0  In licensed merchandises, the average royalty rate charged by major sports leagues generally vary under different conditions. Which of the following is wrong regarding royalty fees? Hide answer choices Royalty fees generally range from 4% (for toys and games) to 20% (for trading cards and video games) and are based on gross sales at wholesale costs. The royalty rates for teams and leagues vary, ranging from 8% to 20% The royalty rates for teams and leagues vary with the majority at around 12%. All of the above statements are correct Correct answer 6. Question 5 0/0 Which of the following is not one of the off-line licensed sports merchandise distribution channels? Hide answer choices E-Commerce Correct answer Department Stores Specialty Stores Others (e.g., supermarket & discount stores). 7. Question 6 0/0 Trademarks can take the form of which of the folowing? Hide answer choices words and colors (e.g., Ravens) sounds (e.g., Harley-Davidson's V-twin engine) shapes (e.g., NIke' swoosh) All of the above forms Correct answer 8. Question 7  0/0 _________ is (under the Federal Trademark Act of 1946) defined as “any word, name, symbol, or combination thereof adopted and used by a manufacturer or merchant to identify his goods and distinguish them from those manufactured or sold by others” Hide answer choices Logo Brand License None of the above Correct answer 9. Question 8 0/0 In a formal licensing agreement between a league or team and a manufacturer, which of the following describes the role of the league or team? Hide answer choices Licensee Licensor Correct answer Sponsor Endorser 10.