SPORTS BUSINESS QUIZ #1 QUESTIONS AND ANSWERS LATEST UPDATE 2025
Sports Marketing - Answers All activities designed to meet the needs and wants of all sports
consumers
Sports Product - Answers Any good, service, place or idea with tangible or intangible attributes
that satisfy consumer sport, fitness, or recreation related need or desire
Product Life Cycle (PLC) - Answers Tool for understanding how sales patterns vary over time.
There are Four Stages; Introduction, Growth, Maturity, Decline
Introduction - Answers Sales and demand are low. Cash flow is negative
Growth - Answers Sales and demand increase. Competitors enter the market. Segments begins
to form.
Maturity - Answers Sales flatten competition is high. Prices fall, Niches develop
Decline - Answers Profits decline. Demand falls. Substitutes appear.
Attributes - Answers The characteristics of a product (distinguishable features)
Benefits - Answers The intangible the consumer deserves (what the consumer gets out of the
product)
Utility - Answers How the product satisfies want, form, time, and place
The FAD - Answers Characterized as accelerated sale and acceptance of the product followed
by decline
Classic - Answers Characterized by the continuous stage of maturity
Seasonal - Answers Sales of sport products rise and fall with the opening and closing day of the
season
Internal Determinants of Price - Answers Other marketing mix variables. Cost of production
(need to make a profit). Organizational objectives (PLC lifestyles)
External Determinants of Price - Answers Consumer demand, Competition, Legal, Economy
Marketing Research - Answers Vital in developing strategies and ensuring accuracy of decisions.
Information used to understand company, customers, competitors, and climate. Create, refine,
and come to conclusive evidence about a competitor
Publicity - Answers Is generally considered to be any nonpersonal stimulation of demand for a
product, service, or business unit as a result of supplying commercial services. Publicity is free
Personal Conduct - Answers Any person to person communication involving an organizational
Sports Marketing - Answers All activities designed to meet the needs and wants of all sports
consumers
Sports Product - Answers Any good, service, place or idea with tangible or intangible attributes
that satisfy consumer sport, fitness, or recreation related need or desire
Product Life Cycle (PLC) - Answers Tool for understanding how sales patterns vary over time.
There are Four Stages; Introduction, Growth, Maturity, Decline
Introduction - Answers Sales and demand are low. Cash flow is negative
Growth - Answers Sales and demand increase. Competitors enter the market. Segments begins
to form.
Maturity - Answers Sales flatten competition is high. Prices fall, Niches develop
Decline - Answers Profits decline. Demand falls. Substitutes appear.
Attributes - Answers The characteristics of a product (distinguishable features)
Benefits - Answers The intangible the consumer deserves (what the consumer gets out of the
product)
Utility - Answers How the product satisfies want, form, time, and place
The FAD - Answers Characterized as accelerated sale and acceptance of the product followed
by decline
Classic - Answers Characterized by the continuous stage of maturity
Seasonal - Answers Sales of sport products rise and fall with the opening and closing day of the
season
Internal Determinants of Price - Answers Other marketing mix variables. Cost of production
(need to make a profit). Organizational objectives (PLC lifestyles)
External Determinants of Price - Answers Consumer demand, Competition, Legal, Economy
Marketing Research - Answers Vital in developing strategies and ensuring accuracy of decisions.
Information used to understand company, customers, competitors, and climate. Create, refine,
and come to conclusive evidence about a competitor
Publicity - Answers Is generally considered to be any nonpersonal stimulation of demand for a
product, service, or business unit as a result of supplying commercial services. Publicity is free
Personal Conduct - Answers Any person to person communication involving an organizational
