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Rayovac Batteries pays a fee to Michael Jordan to appear in its television commercials. This is an example of

endorsement.

The main benefit of being a licensor is

profits.

A primary reason that large businesses purchase the naming rights to a new sport/event faculty is because it

provides exclusivity and has potential to maximize exposure.

What are royalties?

A percentage of actual sales

Which of the following is an example of a celebrity endorsing an event simply by being associated with it:

Attending a grand opening

Which of the following is an advantage for both licensors and licensees:

Brand building

The team name, mascot, and logo are important elements that a sport/event organization uses to create and maintain

brand awareness

College athletic departments use their licensing income to

build up scholarship funds.

Sears pays a fee to the WNBA to have some of its players come to the store for an autograph-signing session. This is an example of

sponsorship.

Athletes are often considered to be particularly effective promoting products related to their

sport

Sport marketers have an advantage over all other types of licensors in the international marketplace because

sports are universally appealing.

A celebrity who is paid to use a product and discuss its effectiveness during a lengthy TV commercial is giving a(n)

testimonial

The biggest risk for licensors is loss of control over

the marketing process.

The basis for the licensing process is

trade marked property.

What type of business strategy is licensing for a licensor?

Low risk

Which of the following is an example of a licensed product:

NASCAR earrings

What might a sports organization offer a business to encourage that business to sponsor an event?

Naming rights

Which of the following is an example of branded merchandise:

Nike sweatshirt

Which of the following is a licensee:

Nintendo

What are the best-selling licensed clothing items?

T-shirts

Which of the following companies is a licensor (holds the rights to trademarked property):

The New York Yankees

Which of the following statements is true regarding sports marketing:

The distribution of licensed sports apparel is an effective way to create team and brand awareness.

Which of the following is the biggest risk for licensees:

The nature of the licensing agreement

Why do retailers give the best shelf space in their stores to licensed sport products?

The products are high in demand.

Which type of sport team sells the most licensed products?

Winning teams

A celebrity's appearing in a commercial for a soft drink while wearing a certain brand of clothing and holding a certain brand of tennis racquet is an example of

cross promotion

The fee a licensee pays up front to use trademarked property is called a(n)

guarantee.

A primary reason that many colleges and universities sell the naming right for their new football stadiums or basketball arenas is to

help pay for construction expenses

A company that manufactures products using trademarked property is known as

licensee.

Team-related factors that affect brand equity include

performance, coaches, and star athletes