$100 The process of developing, promoting, pricing and distributing products in order to satisfy customers’ needs and wants.

$100 What is Marketing? Scores

$200 The idea that businesses should satisfy customers’ needs and wants while making a profit.

What is the Marketing Concept? $200 What is the Marketing Concept? Scores

a small freestanding food/merchandising booth $300 a small freestanding food/merchandising booth

$300 kiosk Scores

The rights-holder of the name, logo, or trademark. $400 The rights-holder of the name, logo, or trademark.

$400 Licensor Scores

$500 A combination of decisions a business must make in order to best reach its target market.

What is the Marketing Mix? $500 What is the Marketing Mix? Scores

$100 The company paying for the permission to use the name, logo, or trademark.

$100 Licensee Scores

$200 Includes the group of consumers that a company desires to have as customers.

$200 What is a target market? Scores

The electronic exchange of products or services. $300 The electronic exchange of products or services.

$300 E-commerce Scores

$400 A personal recommendation regarding the use or quality of a good or service.

$400 Endorsements Scores

Contractual agreements between a sponsor and a venue or event. $500 Contractual agreements between a sponsor and a venue or event.

$500 Naming rights Scores

$100 Involves concepts and procedures necessary to obtain, develop, maintain, and improve a product or service mix in response to market opportunities.

What is Product/Service Management? $100 What is Product/Service Management? Scores

$200 The financing of a sports or entertainment entity (athlete, league, team, concert, or event) by a business in return for recognition affiliation.

$200 Sponsorship Scores

Obtaining information needed to make sound business decisions. $300 Obtaining information needed to make sound business decisions.

What is Marketing Information Management? $300 What is Marketing Information Management? Scores

$400 A form of sponsorship whereby the company does not finance a sports or entertainment entity with money only.

$400 Barter sponsorship Scores

$500 Determining customer needs and wants and responding to those needs and wants through communication intended to influence purchase decisions and ensure satisfaction.

$500 What is Selling? Scores

$100 What method of overcoming objections are you using when the objection comes back to the customer as a selling point.

$100 Boomerang Scores

A method in which a salesperson asks for the sale. $200 A method in which a salesperson asks for the sale.

$200 The direct close Scores

If the customer is ready to make a buying decision, what do you do? $300 If the customer is ready to make a buying decision, what do you do?

Stop talking about the product. $300 Stop talking about the product. Scores

$400 Reason, concern, or hesitation a customer has for not making a purchase.

$400 Objection Scores

Considered the least effective approach method. $500 Considered the least effective approach method.

$500 Service approach Scores

Promotions that occur inside stadiums or arenas. $100 Promotions that occur inside stadiums or arenas.

In-stadium promotions $100 In-stadium promotions Scores

$200 A consumer’s willingness and ability to buy products at a given price during a certain period of time.

$200 What is demand? Scores

The degree to which demand for a product is affected by its price. $300 The degree to which demand for a product is affected by its price.

$300 What is elasticity? Scores

The difference between retail price and cost. $400 The difference between retail price and cost.

$400 Markup Scores

The amount a retailer actually pays for merchandise. $500 The amount a retailer actually pays for merchandise.

cost of merchandise sold $500 cost of merchandise sold Scores

$100 Activities used by a business or organization to gain and maintain a positive relationship between themselves and the community.

Public or community relations $100 Public or community relations Scores

The most common and the most cost effective type of print media. $200 The most common and the most cost effective type of print media.

$200 Newspapers Scores

Refers to giving consumers a “taste” for a sporting event or concert. $300 Refers to giving consumers a “taste” for a sporting event or concert.

$300 Sampling Scores

Any paid, non-personal form of communication by an identified sponsor. $400 Any paid, non-personal form of communication by an identified sponsor.

$400 Advertising Scores

$500 Any combination of the different forms of promotion to sell goods and services.

$500 Promotional mix Scores

$200 the exchange of goods and services from producers to consumers for a price.

$200 Selling Scores

$400 Marketing that involves the collection of information about past, current, and potential consumers.

$400 Data-based marketing Scores

$600 Two-way communication between a representative of the company and the customer.

$600 Personal selling Scores

$800 Having products or services that meet virtually any customer’s needs and/or wants.

$800 Full-menu marketing Scores

$1000 Matching the characteristics of a product to a customer’s needs and wants.

Feature-benefit selling $1000 Feature-benefit selling Scores

$200 A design, name, symbol, term, or word that distinguishes and identifies a company and/or its products or services.

$200 Brand Scores

Also called a store brand $400 Also called a store brand

Private distributor brand $400 Private distributor brand Scores

Consumers’ beliefs about the company and/or its goods or services. $600 Consumers’ beliefs about the company and/or its goods or services.

$600 Brand image Scores

$800 The perception of added value a product has as a result of its brand name.

$800 Brand equity Scores

$1000 Consists of a spoken name and the corresponding design, logo, or symbol.

$1000 Brand identity Scores

$200 An agreement between a venue and an external company that provides food & beverage services.

$200 Contracting Scores

Costs associated with the day-to-day operations of the business. $400 Costs associated with the day-to-day operations of the business.

$400 Operating expenses Scores

$600 Includes all of the combined impressions and experiences associated with a particular company or product.

$600 Brand name Scores

$800 A word, phrase, symbol, or design that identifies and distinguishes the company from others and has legal protection through the United States Patent and Trademark Office.

$800 Trademark Scores

A personified symbol that represents the brand name. $1000 A personified symbol that represents the brand name.

$1000 Trade character Scores

$200 The permission to copy the name, logo, or trademark of a league, athlete, sports team, entertainer, film, television show, or character for a fee.

$200 Licensing Scores

$400 The unauthorized use of a name, logo, or trademark of a league, athlete, sports team, entertainer, film, television show, or character.

$400 Bootlegging Scores

Factors affecting revenues from food & beverage services sales $600 Factors affecting revenues from food & beverage services sales Scores

$800 Rivalry between two or more businesses to gain as much of the total market sales or customer acceptance as possible.

$800 Competition Scores

Two or more companies that utilize the same type of business format. $1000 Two or more companies that utilize the same type of business format.

$1000 Direct competition Scores

$200 These exist when one company has exclusive control over a product or the means of producing it.

$200 Monopolies Scores

$400 Money earned from conducting business after all costs and expenses have been paid.

$400 Profit Scores

Getting along with others. $600 Getting along with others.

$600 Human relations Scores

$800 Brief summaries of an individual’s personal information, education, skills, work experience, activities, and interests.

$800 Resumes Scores

The moral decisions of what is right or wrong. $1000 The moral decisions of what is right or wrong.

$1000 Ethics Scores

$200 An illegal agreement between a manufacturer and a company to set prices for a product.

$200 Price fixing Scores

$400 The risk associated with the possibility of a loss due to natural causes.

$400 Natural risk Scores

$600 Passing risk

$600 Risk transfer Scores

Assuming or acknowledging a business risk and the outcome. $800 Assuming or acknowledging a business risk and the outcome.

$800 Risk retention Scores

$1000 Providing the proper precautions to protect against harm, failure, breakage, or accident.

$1000 Safety Scores