Unit 1
The National Hockey Association drafted Ty Hartman. Ty hired Amanda Bingham to help him make sound business decisions, and to negotiate endorsement contracts with well-known companies. Amanda serves which role for Ty?
Agent
Because a prospective sponsor may have questions about the sponsorship proposal, an event organizer should plan to perform which action?
Conduct follow-up activities
Why would an event marketer promote an upcoming celebrity golf tournament at an exclusive course as an once-in-a-lifetime event?
To generate higher ticket prices
What type of insurance do event organizers purchase in order to cover spectator ticket refunds, sponsorship refunds, and vendor payments?
Cancellation
One aspect of identifying a segment of a sports or event target market involves identifying which component?
Heavy users
Which is an activity that agents perform on behalf of the athletes they represent?
Various contract negotiations
A sports or event planner contacting a local business about supporting an upcoming tennis tournament is an example of which potential role?
Corporate sponsors
The variable cost for a product is $3, and the total fixed costs are $288,000. The company sells the products for $6 each. How many products will the company have to sell to break even?
96,000
An event planner should consider purchasing weather insurance for which event?
Outdoor art show and festival
What is one question that a business must answer when identifying a potentially profitable target market?
“Is the market responsive?”
Which is an activity that agents perform on behalf of the athletes they represent?
Various contract negotiations
What do amateur sports organizations often solicit in order to be able to operate?
Grant money
When a hockey team set its ticket prices so it can achieve its goal of increasing its fan base by five percent, the hockey team established a price objective in conjunction with which type of activity?
Sales
When assessing risks associated with an upcoming event, sports or event organizations should acquire input from all levels of management and which other group?
Vertical staff members
When the Green Company selected its target market, it decided to ignore the segment differences and generate appeal with one offer. The company is using which type of marketing?
Mass
Who do athletes sometimes hire to help them organize charity tournaments?
Marketing firms
To obtain operating funds, a not-for-profit sports camp for underprivileged children might seek which option?
Grant or foundation monies
An increase in ticket prices is most accepted by fans if a sport has which demand for tickets?
Inelastic
Purchasing basic liability insurance protects the sports or event organization or facility from financial risks associated with which threat?
Injuries
When a business selects a target market, the most useful or desirable market segments to a business are those that are measurable and which other feature?
Accessible
Which is an unfair, anticompetitive trade practice in sports or event marketing?
Trademark infringement
An event organizer is most likely to receive a grant or foundation funding if the event pertains to which outcome?
Benefits the community
A college athletic department set the football ticket prices so that the organization can earn income of $12 per ticket after covering expenses. This is an example of a price objective based on which component?
Profitability
What is one question that a business must answer when identifying a potentially profitable target market?
“Is the market responsive?”
Which factor should event marketers consider when identifying target markets for specific events?
Culture