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Sports and Entertainment Marketing 1

Sports and Entertainment Marketing 1. Objective 4.07. Yield management is a way that sport/event marketers address product pricing issues when they want to maximize revenue but have below-market stock value. unallocated resources. limited capacity. few distribution intermediaries.

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Sports and Entertainment Marketing 1

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  1. Sports and Entertainment Marketing 1 Objective 4.07

  2. Yield management is a way that sport/event marketers address product pricing issues when they want to maximize revenue but have • below-market stock value. • unallocated resources. • limited capacity. • few distribution intermediaries.

  3. C. limited capacity.

  4. Wintergreen Ski Area knows that the area will be most successful if it bases its pricing structure o • costs associated with renovations • what the market will bear. • total cost of the experience • inelastic demand for skiing.

  5. B. what the market will bear.

  6. The additional cost of paying for parking and buying refreshments and programs is part of the overall __________ of attending a concert. • benefit • price • Goal • goal

  7. B. price

  8. In sports and entertainment marketing, the concept of price includes not only the cost of a ticket to an event but also the • value of the overall experience. • quality of the media advertising • elements of the marketing plan. • location of the facility.

  9. A. value of the overall experience

  10. Which of the following is a tangible benefit of purchasing a surfboard: • It is the most popular brand on the market. • It gives you the opportunity to join a surfing club. • It allows you to spend time with your friends at the beach. • It has a wrist strap to keep it connected to you in the water

  11. D. It has a wrist strap to keep it connected to you in the water

  12. Which of the following is a company-focused pricing objective for sport/event products: • Offering the most discounts to customers • Offering the lowest prices • Enhancing image • Achieving a price customers feel is "fair"

  13. C. Enhancing image

  14. Why might a sport/event organization price entry fees for a marathon below the normal rate? • To establish their event as "luxury" • To encourage maximum participation • To create profits • To meet competitors' prices

  15. B. To encourage maximum participation

  16. When prices go up or down, the change can affect how much of the sport/event product customers purchase. This is the general principle of • elasticity. • market segmentation • smoothing. • "total cost."

  17. A. elasticity

  18. Which pricing strategy sets prices lower than those of the competition? • Smoothing • Stretching • Penetration • Skimming

  19. C. Penetration

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