SRM 435 Exam One questions with correct answers graded A+

SRM 435 Exam One

Some Segments of the
Sport Business Industry (The Sport Business Industry PPT 1) - correct answer ✔✔Sports tourism

Sporting goods

Sports apparel

Amateur participant sports

Professional sports

Recreation

High school and college athletics

Outdoor sports

Sport marketing firms

Sports sponsorship industry

Sports-governing bodies



Sport Industry Defined (The Sport Business Industry PPT 1) - correct answer ✔✔The sport industry is the
market in which the businesses and products offered to its buyers are sport related and may be goods,
services, people, places, or ideas.



Some examples of the types of products offered in the sport industry: (The Sport Business Industry PPT
1) - correct answer ✔✔• sports as participation product

• sports as a spectator product

• equipment and apparel

• promotional merchandise

• sports facilities as sport products

• service businesses

• recreational activities

• complete management and marketing

professional services

,• sport media businesses products



The sport industry is a BIG business! (The Sport Business Industry PPT 1) - correct answer ✔✔One of the
fastest growing industries



U.S. sports industry is worth about $485 billion



Global sports market is worth about $1.5 trillion



How to Keep Up With
the Latest in the Industry (The Sport Business Industry PPT 1) - correct answer ✔✔• Read trade or
business magazines, journals, newsletters, and Internet sites

• Attend sport business conventions or exhibitions

• Obtain research from sport marketing firms



Factors Influencing the Growth and Development of the Sport Business Industry (The Sport Business
Industry PPT 1) - correct answer ✔✔1. People

2. Sports Activities and Events

3. Sporting Goods

4. Facilities, Sports Medicine, and Fitness Training

5. Commercialization and Marketing of Sport

6. Sport Industry Professional Service Businesses

7. The Sport Industry, Media, and Sport Media

8. Sport Industry Education



1. People (The Sport Business Industry PPT 1) - correct answer ✔✔1. Constant human interest in sports
and recreation



2. Increase in sport business among diverse market segments

, 2. Sports Activities and Events (The Sport Business Industry PPT 1) - correct answer ✔✔1. Increase in the
number of new and different sports, recreational, fitness activities, and events

2. Growth in the offering of traditional sports

3. Increase in the number and type of professional level sport and fitness activities

4. Increase in sports tourism and
adventure travel products



3. Sporting Goods (The Sport Business Industry PPT 1) - correct answer ✔✔1. Increase for the diversity
of markets and their demands



2. Influence of technology



4. Facilities, Sports Medicine, and Fitness Training (The Sport Business Industry PPT 1) - correct answer
✔✔1. Increase in the number and type of facilities



2. Movement of facilities from single-purpose to multi-sport and full-service facilities



3. Increase in the amount and types of sports medicine and fitness training services



5. Commercialization and Marketing of Sport (The Sport Business Industry PPT 1) - correct answer ✔✔1.
Packaging of sport as an entertainment product



2. Increased marketing and marketing orientation



3. Increased understanding and knowledge of consumers



4. Growth of corporate sponsorship



5. Increased endorsements