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Sports & Entertainment Marketing - Chapter 9

Quiz by Jan Timmerman

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36 questions
Show answers
  • Q1
    Producers conduct research to gather information about the types of goods and services that customers are likely to purchase.
    True
    False
    30s
  • Q2
    When the price of a product goes up, the demand for the product also goes up.
    False
    True
    30s
  • Q3
    The private enterprise system is based upon independent decisions made by consumers and businesses.
    True
    False
    30s
  • Q4
    The government can discourage sales by increasing taxes on a product or service.
    True
    False
    30s
  • Q5
    Pricing of merchandise is generally not influenced by the forces of supply and demand.
    False
    True
    30s
  • Q6
    Pure competition exists when there are many companies offering the same product, resulting in rising prices.
    True
    False
    30s
  • Q7
    Psychological pricing occurs when retailers create an illusion with prices that end in $.98 or $.99.
    True
    False
    30s
  • Q8
    Prestige pricing is used for automobiles such as Mercedes and Cadillac.
    False
    True
    30s
  • Q9
    Wal-Mart pays lower prices for its merchandise due to the volume pricing it receives from its suppliers.
    True
    False
    30s
  • Q10
    The upside of the business cycle is referred to as expansion.
    False
    True
    30s
  • Q11
    Sports and entertainment businesses are usually very prosperous during a recession.
    True
    False
    30s
  • Q12
    Retro television involves bringing back re-runs of popular old television shows.
    True
    False
    30s
  • Q13
    Producers of sports and entertainment events
    are willing to invest their time, money, and materials in order to make a profit
    all of these
    have limited resources for their productions
    want to earn a profit
    30s
  • Q14
    Antitrust laws have been enacted to
    discourage competition
    avoid monopolies
    allow government to control businesses
    allow one or two businesses to control the entire market
    30s
  • Q15
    Valid reasons for price discrimination could include
    all of these
    differences in distribution costs to different locations
    changing market conditions
    volume of sales
    30s

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