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Chapter 01 What Is Sports and Entertainment Marketing? 1. Simply defined, marketing is the creation and maintenance of satisfying exchange relationships. a. True b. False ANSWER: True RATIONALE: A simple definition of marketing is that it is the creation and maintenance of satisfying exchange relationships. This definition describes pieces of the marketing concept. POINTS: 1 REFERENCES: What Is Marketing? QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: 1.1-1 - Describe the four basic concepts that define marketing. DATE CREATED: 11/2/2020 11:56 AM DATE MODIFIED: 11/21/2020 1:46 PM 2. Success in sports and entertainment marketing depends upon evaluating events and goods to determine how well they meet customer needs. a. True b. False ANSWER: True RATIONALE: Sports and entertainment marketing must meet the needs of both businesses and customers when exchanging products or services. POINTS: 1 REFERENCES: What Is Marketing? QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: 1.1-1 - Describe the four basic concepts that define marketing. DATE CREATED: 11/2/2020 11:56 AM DATE MODIFIED: 11/11/2020 12:01 PM 3. Discretionary income is the amount individuals earn before deductions are removed from the pay. a. True b. False ANSWER: False RATIONALE: Discretionary income is the amount of money individuals have available to spend after paying for the necessities of life and other fixed expenses, such as housing and car payments. POINTS: 1 REFERENCES: The Marketing Mix QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: 1.1-2 - Explain the four elements that comprise the marketing mix. DATE CREATED: 11/2/2020 11:56 AM DATE MODIFIED: 11/11/2020 12:22 PM
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