Sports management – 3 Quizzes – Flashcards
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The group of consumers to whom a product is marketed is the...
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target market
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the earliest evolutionary change in sports broadcasting from factual reporting to sports entertainment was seen within...
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ABC's Monday Night Football Broadcast
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Roone Arledge's influence upon sports broadcasting included all of the following except...
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significant progressions in the way that sport marketers research the demands of the fan
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The first company to capitalize on the term "official" with regard to a professional sport product was...
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Spalding
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Mark McCormack's sports marketing agency, IMG, began through a relationship with players of this sport...
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golf
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By turning a parking garage in proximity to the 1996 Atlanta Olympic Village into a mini-Niketown, Nike was engaged in...
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ambush marketing
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Bill Veeck believed and operated under the philosophy that fans came to the ballpark to...
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be entertained
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When working for the Golden State Warriors, Matt Levine developed an "audience audit" which advanced the practices of...
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sport marketing research
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In 1992, the San Jose Sharks utilized _____________ in heavily traveled areas to help gain information about fan reaction to proposed logo and uniform designs.
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"pass-by interviews"
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The controllable variables the company puts together to satisfy a target group are referred to as the...
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marketing mix
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Sports marketers define ______ as the personal commitment and emotional involvement customers have with a sport organization.
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fan identification
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"______ has the aim of building mutually satisfying long-term relations with key parties—customers, suppliers, distributors—in order to earn and retain their business" (Kotler 2003)
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relationship marketing
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Beyond teams, recent research suggests that fans may also identify with an array of elements including...
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all of these are correct (coaches, individual players, smaller subgroups of fans)
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While at a sporting event it is common for a sponsor company to offer free merchandise in exchange for filling out personal information, such as name, address, and demographics, on a specialized index card. This is an example of...
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database marketing
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Nike has successfully used each of the following as athlete endorsers except...
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Yao Ming
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Sports marketing includes the marketing of ______.
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products, services, entities, and recruitment
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Briefly discuss Roone Arledge's work with ABC Sports and its long-term impact on sport marketing.
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Roone Arledge was the first person to recognize that sports televised in prime time had to be more than sport—it also had to be entertainment. He used broadcast personalities and refused to let sports owners or leagues approve the announcers. He instituted more cameras and more varied camera angles, video highlights, commentary, criticism, humor, and wit. Arledge's innovations, most notably instant replay, multiple cameras, crowd mikes, and sideline interviewers, added to the enjoyment of the program.
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Plunkett Research estimates that total spending across the entire sports industry amounted to approximately ______ in 2012.
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$435 billion
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The concept of ______ is probably the best single measure of an industry's impact.
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value added
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Which of the following most accurately defines the managerial discipline of finance?
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All of these are correct (A. How an organization generates the funds that flow into the organization B. How an organization allocates its funds once they are in the organization C. Any decision relating to money)
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In a basic sense, the financial success of an organization is ultimately dependent on...
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profits
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______ is/are anything that an organization owns that can be used to generate future revenues.
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Assets
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All of the following are examples of publicly traded sport companies except
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Callaway Golf
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As chronicled in the book Moneyball, the strategy employed by the small-market Oakland A's general manager Billy Beane to better compete with large-market teams by identifying and acquiring undervalued players is an example of an organization maximizing its ______.
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return on investment
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Which financial statement measures the financial performance of an organization over a specified time period, usually a year?
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income statement
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In which American major league sport has a rival league NOT emerged since World War II?
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Baseball
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Why have no rival leagues to the major American sport leagues emerged in more than 20 years?
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A. Players today have much less incentive to jump to a rival league, as the emergence of stronger players associations and free agency means that players are much less often "underpaid." B. There is a lack of viable cities and markets in which to play as the major professional leagues have gone through successive rounds of expansion to the point where all four currently have 30 or more franchises.
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The increase in ticket prices in all leagues in recent years reflects...
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Consumer's increased affluence AND the growing popularity of sport
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Increased revenue in spectator sports has come from
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A. gate receipts. B. broadcast contracts. C. stadium naming rights.
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All of the following are examples of "financial" mechanisms for altering competitive balance except
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"reverse-order" draft
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Which of the following leagues uses a "soft" salary cap?
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NBA
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The philosophy behind a "hard" salary cap is to...
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constrain all franchises to spend the same amount on payroll
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Why do economists suggest that revenue sharing, in and of itself, will do little to improve competitive balance?
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Teams receiving revenue-sharing transfers may have little incentive to use the money to increase payroll, simply choosing to retain the transfer as added profit.
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Where revenue sharing may be effective as a tool to improve competitive balance is when it is used in conjunction with a ______.
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hard salary cap
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The average player salary in the NBA is now approximately ______.
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$5.15 million
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What is the term given to the amount of their own money owners have invested in the firm?
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Equity
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In spectator sports, stadium construction projects are often financed with ______.
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bonds
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True or False: If a golf club manufacturer sells a set of golf clubs to a retailer for $1,000, who in turn sells the clubs to a customer for $1,500, then the total output of the industry is $2,500.
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False
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True or False: Common in the Southeastern Conference and a growing model in collegiate athletics is a structure in which the program is run through an outside entity that is incorporated by the state.
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True
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Discuss the financial challenges faced by college athletics in terms of (1) revenue growth versus profitability and (2) how revenues are distributed across programs.
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Enormous growth in revenues over the last 15 years, yet college athletics, taken as a whole, continues to be unprofitable. The revenue-generating abilities of the major sports are insufficient to compensate for the deficits that occur in other sports. There is an unequal distribution of revenues across programs. Conferences that are traditional powers tend to get the highest payouts, which can help perpetuate their success while inhibiting the ability of other conferences to increase their success.
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For the nonspectator sport industry (recreation and leisure market), discuss two issues that have to be considered in determining whether the industry can continue to grow at the rate it has in recent years, and what risks are involved with the assumptions one makes about the future growth of the industry.
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One must consider the extent to which the recreation and leisure market will continue to grow bearing in mind how it is affected by changing demographics, consumer affluence, and social values. One must also consider consumer trends (e.g., will golf remain "hot" or will a new recreational activity emerge with enormous financial potential?). Because decisions on capital investments are based on the assumptions and predictions made with respect to these issues, these become crucial financial questions to consider.
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Discuss the origins of the competitive balance issue in professional sports and at least three solutions that leagues have developed to deal with it.
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Origins: The greater the uncertainty of outcome, the greater the entertainment value for fans, and thus the greater the revenues for leagues. Large market teams have an advantage over small market teams. Solutions: "reverse-order" draft, scheduling system, salary cap, revenue sharing, luxury tax.
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A _______ has been used as a mechanism to influence competitive balance. With this, a payroll threshold is set prior to a season and teams that exceed this threshold pay based on the excess amount.
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luxury tax
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The _______ issue is rooted in the notion that consumers of a spectator sport seek to be entertained by the game itself and that this entertainment value is connected to a concept of "uncertainty of outcome"—the greater the uncertainty of outcome, the greater the entertainment value for fans.
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competitive balance
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If a borrower is unable to repay the borrowed money, with interest, at a prespecified date—perhaps because revenues are lower than expected—then the borrower is said to be in _______ on the debt.
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default
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What is a tort?
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A CIVIL WRONG THAT CAUSES SOMEONE ELSE TO SUFFER LOSS OR HARM RESULTING IN LEGAL LIABILITY
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According to the video by Kenneth Shropshire, what is Sports Law?
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ENCOMPASES MANY TYPES OF LAW. AN INDUSTRY LABEL. THERE ARE FEW LAWS SPECIFIC TO SPORT. MOST OF SPORTS LAW IS CONTRACTS, ANTITRUST LAWS, COPYRIGHT (USING TEAM LOGO), CONSISTITUTIONAL LAW, PROPERTY ISSUES.
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What did Paul McCarthy say were two of his main legal roles as a sports lawyer for UCONN Athletics?
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RISK MANAGEMENT, CONTRACTS
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What are the 3-stages of the risk management development process?
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DEVELOP, IMPLEMENT, MANAGE
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What type of tort is negligence?
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UNINTENTIONAL TORT
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What does Fiduciary meant?
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TRUST
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Before a sport manager is liable for negligence, the plaintiff must show that the sport manager owed the plaintiff a duty of care. A legal duty of care arises from which of the following origins?
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All of these A. A relationship inherent in a particular situation B. A voluntary assumption of the duty of care C. A duty mandated by a law
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Under the law of agency, the principal owes the agent certain duties. Which of the following is not a duty owed to the agent by the principal?
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To negotiate a written contract with the agent
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Vicarious liability is
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a tort that allows a plaintiff to sue a superior for the negligent acts of a subordinate
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A valid contract contains which of the following elements?
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All of these A. Offer and acceptance B. Capacity C. Consideration D. Legality
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Equal protection (14th Amendment) applies to discrimination on the basis of
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All of these A. race, religion, and national origin. B. gender. C. such areas as physical or mental disability, sexual orientation, socio-economic background, or athletic team membership.
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An athlete challenging a drug test on the grounds that it is an unreasonable search and seizure would attempt to prove to a court that...
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taking the athlete's urine or blood may constitute a seizure and the testing may constitute a search.
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A collective bargaining agreement is a contract that sets forth...
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All of these A. hours provisions. B. wage provisions. C. terms and conditions of employment.
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Which of the following statements are true?
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All of these A. Major League Baseball is the only professional sport league exempt from antitrust laws. B. All professional sports leagues' national broadcasting agreements are exempt from antitrust laws. C. Professional sport leagues' collective bargaining agreements are exempt from antitrust law under the labor exemption.
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Which is not a defense available to an employer in a vicarious liability claim?
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The employee was properly trained by the supervisor/employer and thus, the employer is not negligent
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Female coaches whose salaries are not equal to those of their male counterparts have filed ______ lawsuits.
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Equal pay act
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Under Title VII of the Civil Rights Act of 1964, it is not illegal to discriminate based on religion, gender, or national origin if the classification is...
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a bona fide occupational qualifications
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Which of the following is a defense available to an employer to justify a disparity in pay?
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A difference in gender
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Which of the following is not an example of judicial review of an athletic association decision?
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The decision involves an on-field decision by an umpire or referee
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The Sport Broadcasting Act of 1961 does what?
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Exempts the major professional sports leagues' national television deals from antitrust liability in pooling their television rights as a league.
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The goal of risk management is...
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All of these A. to develop a management strategy to maintain greater control over legal uncertainty. B. to intervene when problems do occur to minimize their disruption to a business. C. to prevent problems from occurring.
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True/False: Waivers and releases of liability are contracts where parties agree to give up their right to sue
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True
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True/False: An agent must never act on behalf of a principal when a conflict of interest is present.
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False
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True/False: Procedural due process requires that the accused be given notice, the opportunity for a hearing, before life, liberty or property may be taken away.
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True
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True/False: Title IX of the Educational Amendments of 1972 bars discrimination in education against women only.
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False
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True/False: All professional sport organizations except Major League Baseball are exempt from antitrust laws.
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False
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True/False: An injunction is an order from the court to do or not do a particular action.
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True
