Sports Business and Finance
Chapter Exam Questions
Course Introduction
Sports Business and Finance explores the unique economic and financial structures that underpin the global sports industry. The course covers topics such as revenue generation through sponsorships, broadcasting rights, merchandising, and ticket sales, along with cost management in player salaries and facility operations. Students will analyze financial statements from professional sports organizations, study league regulations affecting financial management, and examine contemporary issues like salary caps, collective bargaining, and financial fair play. Emphasis is placed on developing practical skills in budgeting, financial planning, and investment decision-making tailored to sports enterprises, preparing students for careers in sports management, marketing, and finance.
Recommended Textbook
Sports Marketing 1st Edition by Michael J. Fetchko
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Page 2
Chapter 1: Sports Meet Marketing
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Q1) A customer's judgment of the benefits received from consumption of a sports product compared to the sacrifices to acquire the sports product is
A)sports product positioning
B)value
C)the affinity advantage
D)experience-based relationship
Answer: B
Q2) Consumers of sports products are typically more motivated by functional benefits than by psychological needs.
A)True
B)False
Answer: False
Q3) Marketers for a sports organization have two options to increase the value of a sports property: reduce prices or reduce sacrifices needed to experience the sports property.
A)True
B)False
Answer: False
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Chapter 2: Examining Sports Entertainment Consumption
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Q1) Two areas in which social personal incentives to attend sporting events drive marketing efforts are group ticket sales and event marketing.
A)True
B)False
Answer: True
Q2) It is easier for a large city like Chicago to develop identification with sports teams in the city through community fan identification than a smaller town such as Nashville that has fewer sports teams and a smaller population.
A)True
B)False Answer: False
Q3) A corporate sponsorship that develops a relationship between a local sports team and the community is an effective method for attracting fans with situation-based identification.
A)True
B)False Answer: False
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Chapter 3: Understanding the Marketing Environment
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Q1) Explain the concept of a SWOT analysis.Give an example of each component. Answer: SWOT stands for strengths and weaknesses (which are internal)and opportunities and threats (which are external).Potential strengths include high brand awareness and financial reserves.Potential weaknesses include high employee turnover and limited product offerings.Potential opportunities include new technologies and government deregulation.Potential threats include economic downturns and low consumer confidence.
Q2) The opportunities and challenges of marketing to the 65+ age group include the following except
A)they have more leisure time
B)they have higher incomes
C)baseball is their favorite sport
D)football is their least favorite sport
Answer: B
Q3) Sports that entail higher levels of risk to participants typically face greater government regulations.
A)True
B)False
Answer: True
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Page 5
Chapter 4: Segmenting Audiences for Sports
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Sample Questions
Q1) A key source of power for social networking sites in respect to sports teams and events is their
A)fast global expansion
B)large demographic numbers
C)viral message capabilities
D)reach with young consumers
Q2) Advertising expenditures in all of the following are expected to remain flat or decline except
A)television
B)radio
C)Internet
D)magazines
Q3) Sociodemographic characteristics used to describe market segments include the following except
A)ethnicity
B)geographic
C)occupation
D)psychographic
Q4) Describe the ways segmentation can be applied to licensed merchandise.
Q5) How can sports properties apply segmentation to ticket sales?
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Chapter 5: Building a Relevant Brand
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Sample Questions
Q1) One type of brand association that is particularly influential on consumer behavior and perceptions of brand equity is
A)price
B)advertising
C)the sports facility
D)perceived quality
Q2) Brand building
A)involves developing a promise that will create customer relationships
B)is strategies devised to capitalize on aspects of a brand to develop product offerings that add value for customers and drive business growth
C)entails decisions such as selecting a brand name and designing marks associated with the brand,such as a logo and colors
D)is made up of associations that a marketer aspires to project or communicate to its target market
Q3) One of the payoffs of building brand equity is growth opportunities in the form of adding new products that share a connection with the core brand.
A)True
B)False
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Chapter 6: Defining the Product Offering
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Q1) Sponsorships are a tangible element of the product marketed by sports properties.
A)True
B)False
Q2) For sports marketing,an innovation is defined as the ability to deliver new value for a sports brand.
A)True
B)False
Q3) While consumers control the acceptance or rejection of a product innovation,managers can develop product offerings and corresponding marketing mix decisions to improve the odds of a successful adoption.
A)True
B)False
Q4) Approaches marketers use to connect target markets with new or revamped products include the following except
A)expanding existing customer relationships
B)locating former customers
C)breaking into new markets
D)attracting new customers in existing markets
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Chapter 7: Tapping Into Passion Through Experiential Marketing
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Q1) Which term refers to an area at a venue or event that bears a sponsor's name and is normally designed and maintained by the sponsor?
A)servicescape
B)branded space
C)interactive play
D)sportscape
Q2) Allowing fans at a horse race to tour the stables and have a location inside the circle is an example of which type of experiential marketing?
A)entertainment experiences
B)educational experiences
C)esthetic experiences
D)escapist experiences
Q3) Exclusivity in experiential marketing is typically driven by the following factors except
A)limited group size
B)high importance of group
C)expansive knowledge
D)limited benefit because of cost
Q4) Discuss the reasons for the growth of experiential marketing.
Page 9
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Chapter 8: Planning the Brand Storycommunications Strategy
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Q1) What are the criteria for IMC objectives? Give an example.
Q2) How communication messages are crafted and when they are communicated (________)may vary by media channel,but the goal for sending the messages of communicating the brand's position and meaning is to be the same for all channels used.
A)creative execution
B)the brand story
C)media planning
D)emotional connection
Q3) The fifth step in the hierarchy of effects model is
A)preference
B)liking
C)conviction
D)purchase
Q4) Identify the primary communication channels for integrated marketing communications.
Q5) The sixth step in the hierarchy of effects model is
A)preference
B)liking
C)conviction
D)purchase Page 10
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Chapter 9: Creating the Brand Storycommunications Campaigns
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Q1) Defining the target market for an IMC campaign is necessary for the following reasons except that
A)budgets for communications tactics are limited
B)multiple stages of the hierarchy of effects model should be emphasized
C)an understanding of the target market affects the design of the message and the channels selected
D)focus may be on only a subset of the firm's total market,so segments to target must be identified
Q2) The informative execution strategy should be used with the ________ message strategy.
A)presentation
B)emotional
C)informational
D)behavioral
Q3) Describe the three timing strategies brands use for IMC campaigns.Discuss the advantages and disadvantages of each for sports brands.
Q4) How can a team that has years of poor on-field performance be marketed?
Q5) Identify the three creative decisions that must be made as part of the creative strategy.
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Chapter 10: Telling the Brand Storycommunications
Channels
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Q1) During the ________ step of the personal selling process,the salesperson gathers background information on the prospect.
A)pre-call planning
B)prospecting
C)closing
D)sales presentation
Q2) Which of the following is the most likely benefit of using coupons in sports marketing?
A)risk reduction
B)brand equity development
C)targeted messages
D)measurable results
Q3) Which term refers to Web pages that contain information,commentary,photos,videos,and links to other information sources on the Web?
A)podcast
B)video stream
C)blog
D)spam
Q4) What is exposure,and what tools can be used to build exposure?
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Chapter 11: Leveraging Sports Brands Through
Sponsorship-Linked Marketing
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Q1) Types of sponsored events include the following except A)team events
B)single-day events
C)off-field events
D)multi-day events
Q2) Narrow category exclusivity limits a sponsor to rights for multiple segments or niches within a product category.
A)True
B)False
Q3) A sponsorship is a relationship that must be nurtured because sponsors expect a return for their investment.
A)True
B)False
Q4) For B2B marketers,one of the greatest attractions of sponsorship is the
A)potential to engage clients and prospects through client hospitality at the sports venue
B)obtain signage at the sports venue
C)potential to reach the sports property's audience through uniform logos
D)ability to create awareness through title mentions
Q5) Discuss why sponsorships come to an end.
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Chapter 12: Measuring Sports Brands Through
Sponsorship-Linked Marketing
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Q1) If a company signed a 2-year sponsorship agreement with a sports property for $60,000 the first year with a 5% escalator,the total fee paid in year 2 would be
A)$60,000
B)$57,000
C)$63,000
D)$3,000
Q2) Coyle Media's Sports Fan Graph ranks leagues,teams,and media brands in terms of their reach in social media.Rankings are based on
A)fans on Facebook
B)fans on Facebook and followers on Twitter
C)fans on Facebook and team or league related sites
D)all social media,including Facebook,Twitter,blogs,and brand operated sites
Q3) The primary organizational need that marketing supports is
A)profit
B)revenue
C)customer generation
D)brand image development
Q4) Discuss the various aspects of marketing that should be measured for performance.
Page 15
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Chapter 13: Living the Brand Promise: Delivery of Sports Experiences
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Q1) If a sports property has multiple functions that need to be executed in a marketing strategy,then a full-service agency is appropriate.
A)True
B)False
Q2) Because of the small marketing budget,Cory knows it will be difficult to hire an advertising agency.This illustrates the in-house advantage of
A)competition
B)control
C)consistency
D)costs
Q3) The number one reason a business would outsource part of its operation or marketing function is
A)resource availability
B)expertise
C)objectivity
D)cost effectiveness
Q4) Discuss the reasons a sports property would outsource marketing functions.
Q5) What is internal marketing?
Q6) What operation functions can be outsourced?
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Chapter 14: Preparing Future Sports Marketers
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Q1) Customer service jobs focus heavily on
A)acquiring new customers
B)retaining customers
C)prospecting for customers
D)developing customer loyalty
Q2) A definition of networking can be reduced to three words: "building good relationships."
A)True
B)False
Q3) Shane is outgoing and has good communication skills.He also learned to be a good negotiator in his last job.Shane would be well-suited for a ________ position in a sports organization.
A)sponsorship sales
B)ticket sales
C)customer service
D)brand communications
Q4) Because individuals tweet personal opinions,Twitter is not an effective source of information about sports properties.
A)True
B)False
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