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SRM 435 Exam 1 correctly answered to pass
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SRM 435 Exam 1 correctly answered to pass
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SRM 435 Exam 1Sport Industry - correct answer ✔✔The market in which the businesses and products offered to its
buyers are sport related and may be goods, services, people, places, or ideas
Some Products Offered in the Sport Industry - correct answer ✔✔- Sport as a Participation Product
- Sport as a spectator Product
- Equipment and Apparel
- Promotional Merchandise
How much is the US sport industry worth? - correct answer ✔✔$485 Billion
How much is the global sports market worth? - correct answer ✔✔$1.5 Trillion
Factors Influencing the Growth and Development of the Sport Business Industry - correct answer ✔✔1.
People
2. Sport Activities and Events
3. Sporting Goods
4. Facilities, Sports Medicine, and Fitness Training
5. Commercialization and Marketing of Sport
6. Sport Industry Professional Service Businesses
7. The Sport Industry, Media, and Sport Media
8. Sport Industry Education
Promotion - correct answer ✔✔Just one component of the marketing mix. Communicates information
about product, place, and price
Traditional Promotion Mix - correct answer ✔✔1. Advertising
2. Publicity
, 3. Sales Promotion
4. Personal Selling
Sport Promotion Mix - correct answer ✔✔1. Advertising
2. Publicity
3. Personal Contact
4. Incentives
5. Atmospherics
6. Licensing
7. Sponsorship
8. Community Relations
Advertising - correct answer ✔✔Any paid form of non-personal presentation of ideas, goods, or services
by an identified organization
Publicity - correct answer ✔✔Often free and stimulates demand for a product, service, or business
Good Publicity - correct answer ✔✔News and not sponsored information. Attracts more individuals.
Personal Contact - correct answer ✔✔Any person-to-person communication between an organizational
representative and a prospective stakeholder that may result in promotional objectives, ranging from
building goodwill to generating sales.
Personal Contact's three components - correct answer ✔✔1. Selling
2. Servicing
3. Monitoring
Incentives - correct answer ✔✔Should influence buyer behavior
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