Exam 3

Question 1

Retention

Answer 1

process of providing continuing satisfaction and reinforcement to individuals who are past or current customers which in turn will create lasting relationships with all customers

Question 2

Licensing

Answer 2

the act of granting a second party permission to use a mark, name, symbol, or likeness

Question 3

Brand associations

Answer 3

anything such as symbol, activity, famous person etc. that makes a consumer think of a particular brand or product

Question 4

A

Answer 4

the ongoing process of identifying and creating new value with individual customers and then sharing the benefits over a lifetime of association

Question 5

He sport property derives its earnings in the form of a ___________, which is charged to the licensed manufacturer.

Answer 5

royalty

Question 6

A number of steps were suggested for relationship marketing by Seth Gordon (2004). Which step is closely related to the following comment?
“Providing customers with what they want must be compatible with what the organization want.”

Answer 6

Step 2: Growing through scope

and partnering

Question 7

A more effective way of viewing the four Ps, at least in relation to sales and promotional activities, is from a more ( α ), ( β ) orientation.

Answer 7

a. customer-centric

B. service-based

Question 8

A number of steps were suggested for relationship marketing by Seth Gordon (2004). Which step is closely related to the following comment?
“Sport organizations can provide customers the value they want by using technology throughout all communication interactions.”

Answer 8

Step 1: Using technology to serve

individual customers

Question 9

What’s is Disney’s magic marketing formula?

Answer 9

“Ask the guests what they want and give it to them”

Question 10

Which step is related to relationship marketing?

Answer 10

Step 3: Rethinking the four Ps

Question 11

Which step is related to a relationship manager’s job?

Answer 11

Step 4: Creating the position of

relationship manager

Question 12

According to Milne and McDonald, four steps are needed to build a robust network with consumers in sport industry. Which order is correct?

Answer 12

1) Build a customer database: CRM
2) Collect customer-level data: survey (onsite,
mail, e-mail)
3) Differentiate your customers: segmentation
4) Develop innovative programs: Applications

Question 13

“EA sports has licensed the right to develop, publish, and distribute interactive college football video games with a variety of collegiate program.”

In the aforementioned case, who is a licensor?

Answer 13

college programs

Question 14

Anderson and Zemke suggest five ways to establish a trademark in customer service. What are the 5 ways?

Answer 14

-- Be reliable
– Call customers by name
– Focus on accuracy in everything that you do
– Recognize your repeat customers
– Know your products and more

Question 15

What are three elements of licensing?

Answer 15

Conduct a market analysis
Conduct a technical analysis
Conduct a financial analysis

Question 16

George bought a new UCM hoodie for $40.00 at the bookstore. Considering average royalty rates range discussed in the textbook, how much money possibly goes to UCM as a royalty (Choose all that apply)?

Answer 16

$2.40-$4.00 the royalty is 6% to 10% of the sale price

OR it’s $37.60-$46.00

Question 17

Benefits of Licensing (3)

Answer 17

– Establish a presence in the marketplace
– Establish an alternative means of revenue production
– Establish the power to legally defend itself against
unauthorized logo usage

Question 18

4 fundamental product and market growth strategies:

Answer 18

1. Market penetration
2. New market development
3. New product development
4. Diversification

Question 19

2 most popular methods of recruiting licensees

Answer 19

Licensing program literature

Trade-show networking

Question 20

In order to enhance product appeal and to spark demand in a new market, sport licensor of all sizes have actively pursued ______________, in which two or more rights holders allow their marks to appear together on merchandise or other items of commercial value.

Answer 20

joint-use agreements

Question 21

Those working with licensees to identify new product offerings or logo applications should employ the three-step process. Which one of the followings is correct order?

Answer 21

market analysis
technical analysis
financial analysis

Question 22

Explain Retailer Programs

Answer 22

Distribution of licensed products spread through other channels, such as sporting-goods stores, mass merchants, and even grocery stores

Question 23

Royalty management procedures (4)

Answer 23

Assessment of advance royalty fees
Establishment of royalty performance guarantees
Submission of royalty reports
Execution of royalty computation audits

Question 24

The 5 C’s

Answer 24

Change
Choice
Community
Cool
Customize

Question 25

Characteristics of 1-on-1 marketing? (10)

Answer 25

``` Individual customer Customer profile Customized market offering Customized production Individualized distribution Individualized incentives Two-way message Economics of scope Profitable customers Customer retention ```

Question 26

Ways of Personalization (5)

Answer 26

``` Identification Differentiation Interaction Customizing Permission marketing ```

Question 27

Elements of situational analysis (4)

Answer 27

1. Review of both existing and potential consumers 2. Assess the strengths and weaknesses of a product 3. Review past branding campaign 4. Situational analysis needs to include an analysis of the competition

Question 28

Ways to develop a segmentation strategy

Answer 28

Demographic variables Geographic data Psychographic or lifestyle information Usage

Question 29

"Benefits" type of brand association

Answer 29

``` Fan identification Escape Nostalgia Pride in place Peer-group acceptance ```

Question 30

The fifth step of strategic brand communication process is selecting the media for the message. Before selecting the media, two factors should be considered. Which ones are correct?

Answer 30

Integration | Budget

Question 31

There are several modes of brand communication. Which one is related to the following statements? In the interest of generating exposure, sport organization may also often supply products for inclusion in visual media sources that need props and personalities. For example, many athletes have hosted NBC’s Saturday Night Live shit show.

Answer 31

Product placement

Question 32

It offers a number of advantages over other mass media. It can stimulate higher levels of attention and message retention. It allows the source to tell a story that includes the features and benefits of the product. What is it?

Answer 32

Mass-media publicity

Question 33

Advertising budget affects and often inhibits the effective integration of advertisements across all media platforms. Which one of the following is NOT related to typical methods of advertising budget analysis?

Answer 33

Marginal analysis Percentage of sales All that can be afforded Competitive parity