Marketing Midterm Exam Review

Marketing Midterm Exam Review

<p>Ms. Guerrero’s SERM Midterm Review Packet</p><p>SPORTS MARKETING MIDTERM EXAM REVIEW 2011-2012</p><p>Resources: Sports and Entertainment Marketing Textbook Worksheets, Handouts, Class notes, Listening Guides Workbook Packets & Tests</p><p>Unit 1: DECA</p><p>What is DECA and what does it stand for?</p><p>Who can be a member of DECA?</p><p>What are the official DECA colors?</p><p>Identify this year’s national theme.</p><p>Unit 2: Marketing Overview</p><p>Define the following terms:  Marketing</p><p> Marketing Mix</p><p> Target Market</p><p> Demographics</p><p>Explain the difference between marketing and marketing concept</p><p>SERM Midterm Review 1 Ms. Guerrero’s SERM Midterm Review Packet</p><p>List and explain the four ways to segment a market</p><p>List and explain the seven marketing functions</p><p>List the six benefits of marketing</p><p>List and explain the five P’s</p><p>Unit 3: Importance of Sports and Entertainment Marketing</p><p>Define Sports.</p><p>Define Entertainment.</p><p>Provide examples of entertainment:</p><p>SERM Midterm Review 2 Ms. Guerrero’s SERM Midterm Review Packet</p><p>How are sports and entertainment different?</p><p>Sports Entertainment</p><p>How much do fans spend on recreation and related products each year?</p><p>The sports industry generated $ ______a year </p><p>Define the following terms:  Sports Marketing</p><p> Entertainment Marketing</p><p>Identify goals of sports marketing.</p><p>What are the two types of price competition?  ______Competition</p><p>SERM Midterm Review 3 Ms. Guerrero’s SERM Midterm Review Packet</p><p> Non-Price Competition</p><p>Identify ways that growth is measured in sports marketing</p><p>What are the current trends in the entertainment industry? 1. ______2. ______3. ______</p><p>What are the 3 economic resources?</p><p>Identify factors that influence demand</p><p>Unit 4: Communication</p><p>Define communication</p><p>List and explain the six primary elements of communication?</p><p>Why is communication important?</p><p>What is the difference between verbal and non-verbal communication?</p><p>SERM Midterm Review 4 Ms. Guerrero’s SERM Midterm Review Packet</p><p>Identify effective listening strategies</p><p>Identify effective writing strategies</p><p>Identify effective speaking strategies</p><p>What are the benefits of face-to-face communication?</p><p>Define:  Message</p><p> Sender</p><p> Receiver</p><p> Feedback</p><p> Channels Unit 5: Economics</p><p>Define Economics</p><p>Define Free Enterprise system</p><p>SERM Midterm Review 5 Ms. Guerrero’s SERM Midterm Review Packet</p><p>Define the following  Supply </p><p> Demand</p><p> Law of supply</p><p> Law of demand</p><p> Equilibrium</p><p> Shortage</p><p> Surplus</p><p>What factors do companies take into consideration when determining supply?</p><p>How does competition affect the customer?</p><p>Unit 6: Business Structure</p><p>Define Business cycle</p><p>SERM Midterm Review 6 Ms. Guerrero’s SERM Midterm Review Packet</p><p>Identify and define the four stages in the cycle</p><p>Identify the three (typical) causes for a change in business cycle</p><p>Identify the types of legal forms of business ownership (hint: 3 types)</p><p>List characteristics of a sole proprietorship</p><p>What are the advantages and disadvantages of a sole-proprietorship?</p><p>List characteristics of a partnership</p><p>What are the advantages and disadvantages of a partnership?</p><p>SERM Midterm Review 7 Ms. Guerrero’s SERM Midterm Review Packet</p><p>List characteristics of a corporation</p><p>What are the advantages and disadvantages of a corporation?</p><p>Unit 7:Hospitality</p><p>Define Hospitality </p><p>List current rends in the hospitality industry:</p><p>What are the four sections hospitality?</p><p>Where/what areas do we find hospitality?</p><p>Provide 2 examples of hospitality and tourism for sports, entertainment and recreation Sports</p><p>Entertainment</p><p>Recreation</p><p>SERM Midterm Review 8 Ms. Guerrero’s SERM Midterm Review Packet</p><p>Unit 8: Product Development</p><p>Identify the four types of new products</p><p>List and explain the 7 steps in new product development</p><p>List and define the four stages of the product life cycle</p><p>How can a company extend the life cycle of a product? (Hint see notes or book )</p><p>Define Market Research</p><p>Explain why marketing research is important</p><p>SERM Midterm Review 9 Ms. Guerrero’s SERM Midterm Review Packet</p><p>List and describe each step of market research</p><p>Define product positioning</p><p>What is the focus and the goal of product positioning?</p><p>List and describe the four ways to position a product</p><p>Unit 9: Pricing</p><p>Define price</p><p>How does pricing influence the marketing mix?</p><p>How is sales revenue calculated?</p><p>How is profit or loss determined?</p><p>SERM Midterm Review 10 Ms. Guerrero’s SERM Midterm Review Packet</p><p>Identify and describe several factors that affect pricing decisions.</p><p>Identify and describe the four special pricing strategies</p><p>Unit 10: Conflict Resolution</p><p>What is a persons natural reaction in conflict resolution?</p><p>Define assertive communication.</p><p>Explain why assertive communication is challenging to master.</p><p>List the 3 types of conflict resolution strategies.</p><p>What is the difference between “I” and “You” statements?</p><p>Provide a scenario and an example of a “I” and “You” statement.</p><p>SERM Midterm Review 11</p>

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