EVENT MANAGEMENT FINAL EXAM QUESTIONS AND ANSWERS

EVENT MANAGEMENT FINAL EXAM QUESTIONS AND ANSWERS
Chap 8 - CORRECT ANSWER✅✅



Building a Brand - CORRECT ANSWER✅✅1. Develop a brand that will stick in the mind of a consumer

2. Create awareness about the products/services offered

3. Generate a perception in the mind of the consumer that leads to brand equity & loyalty

4. Differentiate the org. and products/services from the competitor



Feasibility Study - CORRECT ANSWER✅✅An assessment that is conducted to determine key market
characteristics;

Typically conducted in the initiation stage of planning



What Do Feasibility Studies provide info for? - CORRECT ANSWER✅✅1. Provide quality info to support
decision making

2. Identify reasons not to proceed (risk, cost, lack of resources)

3. Develop a strong marketing strategy and plan, if the event is a "go"

4. Help establish a vision, mission, and concept

5. Assist in securing funding or other support



3 elements of a feasibility study - CORRECT ANSWER✅✅1. Market characteristics

2. Geographic factors

3. Financial aspects



Breakeven Analysis - CORRECT ANSWER✅✅An assessment used to determine at what point the event
can cover all the expenses and begin to make a profit



SWOT Analysis - CORRECT ANSWER✅✅A tool used to assess the internal & external strengths and
weaknesses of an event;

Allows a marketer to capitalize on strengths and opportunities while mitigating the negative effects of
weaknesses and threats

,Mission & vision - CORRECT ANSWER✅✅Part of developing the marketing strategy and plan



Mission Statement - CORRECT ANSWER✅✅A statement defining the purpose of the organization or
event



Vision Statement - CORRECT ANSWER✅✅A statement of what the org. would like to achieve or
accomplish



Characterisitics for Segmentation - CORRECT ANSWER✅✅Demographic, psychographic, media
preference & use, & purchasing behavior characteristics



Demographics - CORRECT ANSWER✅✅Categorize consumers based on age, gender, ethnicity,
education, income, socioeconomic status, profession, geographic location, religion, type of sport played,
etc.



Psychographics - CORRECT ANSWER✅✅Categorize based on the consumers' interests, beliefs, and
attitudes;

Also, the motives that drive consumers to participate and watch sport



Media Preference & Use - CORRECT ANSWER✅✅The categorization of consumers based on the type of
media consumed and how it is consumed



Purchasing Behavior - CORRECT ANSWER✅✅The frequency with which individuals consume a product
and the manner in which they use the products & services



Data-based marketing (DBM) - CORRECT ANSWER✅✅A comprehensive system that captures critical
demographics, psychographics, media use, & purchasing behavior info on customers & potential
customers in order to enable direct marketing strategies



Differentiation - CORRECT ANSWER✅✅The positioning of a product in the minds of the consumer by
highlighting the important attributes and benefits

, Promotion Mix - CORRECT ANSWER✅✅The varied use of a number of promotional methods to create a
message;

Used to communicate the desired message and image, create awareness & educate the consumer, and
persuade the consumer to buy the product



Marketing vs. Promotion - CORRECT ANSWER✅✅Marketing is the overall broad strategy for a sport
product whereas promotion is a specific tactic used as part of the marketing plan to attain goals



Integrated Marketing Communication (IMC) - CORRECT ANSWER✅✅A delivery strategy that ensures
brand positioning personality, & key messages are delivered synergistically across every element of
communication;

Consists of various tactics that work best when they are integrated to achieve the overall marketing
goals;

Integrating the message into a number of tactics ensures greater opportunity to achieve marketing goals



Why people advertise? - CORRECT ANSWER✅✅Promotion is the most visible aspect of a marketing
plan;

Best way to reach consumers



Guerrilla Marketing - CORRECT ANSWER✅✅A marketing strategy that uses unique methods to gain
large effects at low expenses



Viral Marketing - CORRECT ANSWER✅✅The use of social networks to increase brand awareness
through self-replicating processes



Relationship Marketing - CORRECT ANSWER✅✅Seeks to develop and maintain relationships with
customers, while using info gathered from them to attract new customers;

the strategy is to invest in the development of long-term relationships with customers & other key
stakeholders in order to get a better understanding of expectations and concerns



Personal Marketing - CORRECT ANSWER✅✅Marketing yourself