Business of Sport Midterm

How much gate revenue is estimated to be generated by sport each year?

$18 billion

How much of the salesperson’s time should be spent speaking compared with the time the customer spends speaking?

80 percent from the customer, 20 percent from the salesperson

How much of the salesperson’s time should be spent speaking compared with the time that the customer spends speaking?

80 percent from the customer, 20 percent from the salesperson.

What is the advantage of using a live read in radio?

A live read can have a larger impact because the broadcaster has already developed trust and a bond with the audience.

What could be the benefit for a ticket that features a lower cost but a less desirable view?

All of the above.

Which of the following is NOT a key difference between B2B and B2C sales?

B2B involves a smaller number of stakeholders than B2C.

A benefit of the product is a fact that is universal to all customers and difficult to dispute.

False

A dizzy bat race at a baseball games is an example of a direct marketing and database asset.

False

A letter of inquiry is a legally binding document.

False

The models for generating media rights revenues are essentially the same for all North American professional sport leagues.

False

Which stadium featured the first defined luxury boxes?

Houston Astrodome

Which of the following may be an advantage for a nonprofit when they receive an in-kind contribution?

It helps them obtain goods and services that would otherwise be unaffordable.

Which of the following statements best describes fantasy sport participation?

Participation of fantasy sports has added to the viewership of sport events.

What is the biggest difference between the guarantee model and revenue-sharing model in intercollegiate sport?

Revenues are guaranteed upfront to schools in the revenue guarantee model.

Which of the following best describes the difference between terrestrial and satellite radio?

Satellite radio broadcasts to an entire continent instead of local geographic region.

Which describes a secondary benefit to the employer in a B2B sale?

The employee enjoys the game and feels appreciated by their employer.

What is the advantage for an international foundation of working with an intermediary?

The international foundation does not have to deal with as many cultural complexities.

Which of the following best describes the concept of dynamic ticketing?

Ticket prices fluctuate based on the demand to see a certain team play.

Activation is a form of leveraging that is engagement oriented.

True

Judging the quality of a service is often difficult because the product cannot be picked up or inspected for quality.

True

Professional sport leagues are often willing to pay expensive rights fees in exchange for guaranteed payments that help to expand their audience, revenues, and reputation within the minds of viewers.

True

Regardless of your personality, age, or background, you can learn to sell.

True

Renewal ticket sales often have a lower commission for the sales representative.

True

Sport ticketing originated in the United States.

True

The terms sponsor and partner are used interchangeably at times.

True

Which of the following statements best describes cord cutting?

Viewers are canceling cable or satellite subscriptions and getting content by other means.

Which of the following activities is an example of content marketing?

a fitness club creating and posting videos with workout ideas and exercise technique

Which of the following is NOT an example of a due, fee, or permit?

a sports radio station charging for ten 30-second radio spots

Which of the following is an important component of generating revenues?

all of the above

Which of the following may be a charitable activity that would NOT be tax deductible if handled directly by the corporation?

an employer-related scholarship program

When can support statements be used during a conversation?

at any time

What type of corporate giving is demonstrated by donations by Google and Cisco of $800 million and $220 million respectively in response to the COVID-19 pandemic?

cash or product donations

When an agency measures the total number of clicks that an ad receives divided by the number of impressions, what are they measuring?

click-through rate

Which of the following is NOT a functional area in the sport industry?

college sport

What department in a corporation would be most likely to be involved with corporate giving?

community affairs

If a sales representative for a minor league baseball team sold a ticket to a food festival taking place in the stadium during the off-season, which type of selling would this be?

cross-selling

Which of the following methods of handling an objection includes countering a negative feature by re-emphasizing a positive feature?

deflection

Electronic inventory can also be referred to as

digital marketing

Big League Chew is the official chewing gum of Major League Baseball. Which of the following types of sponsorship assets best describes this example?

exclusivity

Which of the following is an example of prospecting?

finding potential buyers’ email addresses on social media

When a salesperson makes a phone call in an effort to talk to the decision maker, what term describes the person who answers the phone and directs the call?

gatekeeper

What type of sponsorship platform is representative of the IOC’s Olympic Partners program?

governing-body sponsorship

Which of the following is the common term for ticket inventory sold to large groups?

group tickets

Which word is most likely to begin a closed-ended question?

is

Which of the following are program-related investments?

loans or equity investments made by a private foundation or public charity, primarily for charitable purposes

Which of the following is an advantage that a main sports rights holder may gain from using a secondary sports rights holder?

maximize revenues

Which step for developing an activation plan involves quantifying the plan and then comparing it with the objectives stated earlier?

measuring the results of the activation plan

Which of the following best describes family foundations?

must disperse a minimum of 5 percent of their assets each year and make their grants publicly viewable

Which of the following refers to the information a salesperson gathers from a prospect?

none of the above

Aramark runs all of the concessions at James Madison University. Which of the following does this example best illustrate?

outsourcing

All of the following describe stakeholders in sport EXCEPT

passion

Which of the following terms describes how sponsors build long-term relationships with customers?

relationship marketing

Primary differences between sponsorship and advertising include all of the following EXCEPT

sponsorship is more subtle and indirect than advertising

What type of CSR initiative is exemplified by the Zero Waste Wolfpack initiative at North Carolina State University?

sustainability

Which of the following information is NOT recommended for leaving good voicemails?

the price of the products that you offer

What are the three ways to monetize a broadcast?

transaction video on demand, ad-based video on demand, subscription video on demand

Which of the following would best describe the comment “Tickets are selling fast, so we need to get you locked in soon.â€

urgency statement

Electronic inventory includes all of the following EXCEPT

vinyl banner

Asking your university if you can help make phone calls to alumni is an example of which of the following ways a student can prepare for a sales job?

volunteer

Which response is most appropriate to handle a performance objection?

“I’m sorry you’re upset about our performance, but there are a lot of other reasons to attend.â€