Sports Economics Exam Preparation
Guide
Course Introduction
Sports Economics explores the application of economic theories and principles to the world of sports. The course examines how economic concepts such as supply and demand, labor markets, pricing strategies, and game theory operate within professional and amateur sports leagues. Topics include the valuation of teams and players, the impact of broadcasting rights, stadium financing, the role of government regulation, and issues related to competitive balance and revenue sharing. Through case studies and current event analysis, students will gain a deeper understanding of how economic forces shape the business and management of sports at local, national, and global levels.
Recommended Textbook
Sports Marketing A Strategic Perspective 4th Edition by Matthew D Shank
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13 Chapters
368 Verified Questions
368 Flashcards
Source URL: https://quizplus.com/study-set/1958
Page 2
Chapter 1: Emergence of Sports Marketing
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29 Verified Questions
29 Flashcards
Source URL: https://quizplus.com/quiz/39009
Sample Questions
Q1) According to the text,the sporting goods industry and recreation industry,consisting of sports equipment,licensed merchandise,collectibles,and memorabilia,was nearly a $60 billion dollar industry in 2006.
A)True
B)False
Answer: True
Q2) Which one of the following is an example of producers/intermediaries?
A) corporations/sponsors
B) sporting goods/teams
C) spectators/teams
D) sporting goods / users
E) none of the above
Answer: A
Q3) Discuss the conditions that must be satisfied under the sports marketing exchange process.
Answer: There must be at least two parties.Each party must have something of value to offer the other.There must be a means for communication between the two or more parties.Each party must be free to accept or decline the offer and must believe it is desirable to deal with the others.
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Page 3
Chapter 2: Contingency Framework for Strategic Sports Marketing
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32 Verified Questions
32 Flashcards
Source URL: https://quizplus.com/quiz/39010
Sample Questions
Q1) The three broad parts of the contingency framework include _____.
A) external contingencies, the sports marketing exchange, internal contingencies
B) external contingencies, the sports marketing mix, internal contingencies
C) external contingencies, strategic sports marketing process, internal contingencies
D) external contingencies, sports marketing selections, internal contingencies
E) external exchanges, sports marketing contingencies, internal sport processes
Answer: C
Q2) What is SWOT analysis? Describe its components,using SWOT for Nike in its campaign effort to be number one in the world soccer market.
Answer: SWOT is an acronym: Strengths vs.Weaknesses,Opportunities vs.Threats.For Nike,their use of a SWOT analysis in the world soccer market is that they are the most widely known athletic shoe producer (strength)with very little or no weakness at all.Their best opportunity would be the 2004 Summer Olympics,with a vast audience watching via television.The only threat would be the Reebok Shoe Company or perhaps Adidas.
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Chapter 3: Research Tools for Understanding Sports Consumers
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30 Verified Questions
30 Flashcards
Source URL: https://quizplus.com/quiz/39011
Sample Questions
Q1) Write a brief marketing research proposal to address the feasibility of creating a Junior X Games in Orlando,Florida for the summer.
Answer: The research proposal should use the descriptive design answering who,what,where,when,and how often.The use of government reports on the demographics of Orlando would be of great use.Then surveys on the age that the X Games would draw could be taken.Going to high areas of traffic for this age group would be the most advantageous.
Q2) A research proposal is the framework for a study that collects and analyzes data. A)True
B)False
Answer: False
Q3) The research design is a written blueprint that describes all the information necessary to conduct and control the study. A)True
B)False
Answer: False
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Page 5
Chapter 4: Understanding Participants As Consumers
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29 Verified Questions
29 Flashcards
Source URL: https://quizplus.com/quiz/39012
Sample Questions
Q1) Sue decides to participate in a summer league tennis program. The first time she plays in competition,she does very poorly and immediately feels embarrassed.Her decision whether to play again based on this experience is called cognitive dissonance.
A)True
B)False
Q2) In the text,a popular theory of human motivation (Maslow's hierarchy of needs)is based on a set classification of needs.Using the social needs level,describe why a midlevel company executive would choose to play in a weekend golf charity sponsored by his company.
Q3) According to the text,there are three types of external sources: personal,marketing,and secondary.
A)True
B)False
Q4) According to the text,perception is defined as the complex process of selecting,organizing,and interpreting small stimuli,such as sports.
A)True
B)False
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6
Chapter 5: Understanding Spectators As Consumers
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28 Verified Questions
28 Flashcards
Source URL: https://quizplus.com/quiz/39013
Sample Questions
Q1) List and describe the types of fan identification.
Q2) According to the text,the foundation of any strategic sports marketing process is understanding why spectators attend sporting events or _____.
A) environmental factors
B) fan motivation factors
C) sociological factors
D) psychological factors
E) none of the above
Q3) In the text,there are five differences listed between sport spectators and participants.List two of these five and discuss.
Q4) Layout accessibility refers to _____.
A) scoreboard design
B) whether or not fans can move freely about the stadium
C) the relationship between luxury suites and general seating
D) the ease of reading a team's ads and programs
E) all of the above
Q5) List and describe the two types of economic factors that can affect game attendance.
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Chapter 6: Segmentation, targeting, and Positioning
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29 Verified Questions
29 Flashcards
Source URL: https://quizplus.com/quiz/39014
Sample Questions
Q1) According to the text,market segmentation is defined as identifying groups of consumers based on their common needs.
A)True
B)False
Q2) The market selection decisions are _____.
A) product, place, price, promotion
B) demographic, geographic, psychographic
C) segmentation, targeting, positioning
D) contingencies, constituencies, competitors
E) none of the above
Q3) The majority fallacy is the assumption that _____.
A) the brand with the highest sales is the brand with the highest quality
B) the largest group of consumers should always be selected as the target market
C) the major league teams will always attract more fans than minor league teams
D) older players attract older fans
E) none of the above
Q4) Explain the market selection decisions of segmentation,target markets,and positioning.
Q5) Construct a perceptual map to explain the differences between sports and other entertainment choices.
8
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Chapter 7: Sports Product Concepts
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28 Verified Questions
28 Flashcards
Source URL: https://quizplus.com/quiz/39015
Sample Questions
Q1) Branding is used to _____.
A) differentiate a brand from its competitors
B) increase tangibility
C) avoid trademark infringement
D) increase trademark blending
E) protect players from getting lost in the dark
Q2) Licensing is a contractual agreement whereby a sport organization may use another sport organization's trademark in exchange for a royalty fee.
A)True
B)False
Q3) List and discuss the three characteristics of the sport product.
Q4) Which of the following is NOT a dimension of service quality?
A) tangibles
B) responsiveness
C) empathy
D) durability
E) assurance
Q5) List and describe the five dimensions of TEAMQUAL.
Q6) List and describe the four steps in the branding process for a sport product.
Page 9
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Chapter 8: Managing Sports Products
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27 Verified Questions
27 Flashcards
Source URL: https://quizplus.com/quiz/39016
Sample Questions
Q1) Product line extensions are current products that have been modified.
A)True
B)False
Q2) Those consumers most willing to adopt new sports products are called _____.
A) laggards
B) buyers
C) innovators
D) adopters
E) thinkers
Q3) List and describe the four types of adopters.
Q4) The final stage of the new sports product development is commercialization,or introduction.
A)True
B)False
Q5) From the time a sports product begins the new product development process to the time it is taken off the market,it passes through a series of stages known as the seasonal life cycle.
A)True
B)False
Q6) List and describe the six stages of the new product development process.
Page 10
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Chapter 9: Promotion Concepts
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24 Verified Questions
24 Flashcards
Source URL: https://quizplus.com/quiz/39017
Sample Questions
Q1) The intended target of any basic marketing communication is called the _____.
A) sender
B) channel
C) medium
D) receiver
E) encoder
Q2) According to the text,in sports marketing the sender or source is usually a star athlete.
A)True
B)False
Q3) The target audience for a push strategy is not channel intermediaries but the ultimate consumer.
A)True
B)False
Q4) Promotion planning begins with _____.
A) a situation analysis
B) target market considerations
C) communication process analysis
D) budget development
E) financial acquirement
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Chapter 10: Promotion Mix Elements
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28 Verified Questions
28 Flashcards
Source URL: https://quizplus.com/quiz/39018
Sample Questions
Q1) List and describe the two categories of advertising objectives.
Q2) Which of the following is NOT considered a role that influences the buying process?
A) economic buying role
B) user buying role
C) professional buying role
D) technical buying role
E) coach's role
Q3) The following are all media scheduling alternatives EXCEPT _____ schedule.
A) continuous
B) flighting
C) pulsing
D) sporadic
E) All of the above are media scheduling alternatives.
Q4) Advertising is one tool of the sports marketer,but it has its limitations,especially in the area of visibility.
A)True
B)False
Q5) From the text,list the four benefits of personal selling (Table 10.7).
Q6) List and describe the five types of advertising appeals for sports marketing.
Page 12
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Chapter 11: Sponsorship Programs
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29 Verified Questions
29 Flashcards
Source URL: https://quizplus.com/quiz/39019
Sample Questions
Q1) The state high school baseball championship would be best described as a _____ event.
A) regional
B) local
C) national
D) community
E) worldwide
Q2) The Sports Event Pyramid is best described as a way to _____.
A) categorize the scope of the sponsorship
B) look at the sponsor's objectives
C) evaluate the sponsorship return on investment
D) build public image for the sponsorship
E) none of the above
Q3) List and describe the five elements of indirect sponsorship objectives.
Q4) The athletic platform most commonly associated with sports marketing is _____.
A) team
B) athlete
C) event
D) league
E) level of competition
Page 13
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Chapter 12: Pricing Concepts and Strategies
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27 Verified Questions
27 Flashcards
Source URL: https://quizplus.com/quiz/39020
Sample Questions
Q1) Seasonal discounts are prevalent in sports marketing because of the nature of most sports (snow skiing,waterskiing,fishing,football,baseball).
A)True
B)False
Q2) There are four categories of organizational objectives that influence pricing decisions.Which of the following is NOT one of those categories?
A) income
B) consumer
C) sales
D) competitive
E) social
Q3) Define price discounts and list and describe the types.
Q4) In sports marketing,price adjustments may be made in order to stimulate demand for sporting products when sales expectations are not currently being met.
A)True
B)False
Q5) Explain the mathematical equation TC = FC + VC in terms for a minor league baseball team.
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Chapter 13: Implementing and Controlling the Strategic
Sports Marketing Process
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28 Verified Questions
28 Flashcards
Source URL: https://quizplus.com/quiz/39021
Sample Questions
Q1) The type of control that measures and evaluates the effect of actions that have already been taken in an effort to execute the plan is called _____ control.
A) process
B) planning assumptions
C) premise
D) strategic
E) contingency
Q2) ?Sports marketing plans being constructed in an uncertain environment creates the need for _____ control.
A) process
B) planning assumptions
C) premise
D) contingency
E) strategic
Q3) The text gives a list of general competencies necessary for all sports marketing managers.List three of these competencies.
Q4) In the text,encouraging intrapreneurship is listed as part of the creative process.List and describe three guidelines for encouraging intrapreneurship.
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