Question 1

Which of the following is NOT an example of sport product consumption?&#10;A) Kicking a ball on a field&#10;B) Attending a Real Madrid game&#10;C) Purchasing a watch&#10;D) Buying a set of golf clubs

Accepted Answer

Purchasing a watch is not directly related to sport product consumption. The other options involve either participating in a sport (A and D) or attending a sporting event (B).

Question 2

Which of the following are organizations which provide sport products or services?&#10;A) The NFL, NBA, or EPL&#10;B) ESPN or Euro sport&#10;C) Yosemite National Park, Zermatt Ski Resort&#10;D) All of the above

Accepted Answer

All of the options listed provide sports products or services. The NFL, NBA, and EPL are professional sports leagues; ESPN and Eurosport are sports broadcasting services; Yosemite National Park and Zermatt Ski Resort offer outdoor sports and recreational activities.

Question 3

Sport services are _____________ and therefore difficult to clearly define and communicate to the market.&#10;A) Intangible&#10;B) Standardized&#10;C) Tangible&#10;D) Unstandardized

Accepted Answer

Sport services are intangible, meaning that they cannot be touched or seen like a physical product. This makes it difficult to clearly define and communicate their value to the market. Additionally, sport services are often customized to the individual needs and preferences of each customer, making them unstandardized.

Question 4

The consistency of every single potential sport product can be guaranteed.

Accepted Answer

Even with strict quality control measures, there is always a possibility for slight variations in the production of any product, including sport products. Therefore, it cannot be guaranteed that every single potential sport product will have the exact same consistency.

Question 5

Esports share which of the following characteristics with traditional sport?&#10;A) Events are held in venues with crowds&#10;B) All events take place online&#10;C) There are no physical skills needed to participate&#10;D) None of the above

Accepted Answer

Esports events are often held in large venues with crowds, similar to traditional sports events. Although some esports events may take place online, many others are held in-person in large stadiums or arenas. While physical skills may not be necessary for esports participation, the same can be said for certain traditional sports such as chess or shooting.

Question 6

________________ is the recognition that customers add value to the consumption experience via the way they select, consume, and dispose of products.&#10;A) Service dominant logic&#10;B) Co-creation&#10;C) Market research&#10;D) Tangibility

Accepted Answer

Co-creation is the recognition that customers play an active role in shaping their consumption experience through their choices and behaviors. This concept acknowledges that customers contribute value to the overall consumption process, rather than being mere passive recipients of product offerings. Service dominant logic is a related concept that emphasizes the centrality of service in creating value for customers. Market research is a separate practice that involves gathering data and insights about customers' needs and preferences. Tangibility refers to the physical properties of a product or service, such as its size, weight, or shape. While tangibility can be important to customers, it is not directly related to the concept of co-creation.

Question 7

Which of the following are examples of innovations in the sport industry?&#10;A) Virtual reality viewing experiences&#10;B) The creation of Twenty20 cricket&#10;C) Digital ticketing&#10;D) All of the above

Accepted Answer

All three options (virtual reality viewing experiences, the creation of Twenty20 cricket, and digital ticketing) are examples of innovations in the sport industry. Virtual reality viewing experiences have revolutionized the way in which sports fans can watch games and events, allowing them to feel as though they are right in the middle of the action. The creation of Twenty20 cricket introduced a new, shorter format of the game that has since become wildly popular around the world. And digital ticketing has made it easier for fans to buy tickets to games and events, allowing them to do so from the comfort of their own homes or on-the-go via their smartphones.

Question 8

Which of the following is an example of Product Innovation Characteristics (PIC)?&#10;A) Competitive advantage&#10;B) Comparability&#10;C) Trialability&#10;D) Discoverability

Accepted Answer

Trialability is an example of a Product Innovation Characteristic (PIC). PICs are attributes of products that make them more likely to be successful in the market. Trialability refers to the ease with which a product can be tested or tried by potential customers. This characteristic helps to reduce the risk associated with trying a new product, which can increase the likelihood of adoption. The other choices (A, B, and D) are not examples of PICs. Competitive advantage refers to a company's ability to outperform competitors, comparability is not a term used in the context of product innovation, and discoverability is not a recognized PIC.

Question 9

Which of the following represents the path of earliest individual adoption to the latest?&#10;A) Innovators > Early adopters > Early majority > Late majority > Laggards&#10;B) Early adopters > Innovators > Laggards > Early majority > Late majority&#10;C) Innovators > Late majority > Early majority > Laggards > Early adopters&#10;D) Early majority > Innovators > Early adopters > Late majority > Laggards

Accepted Answer

This represents the classic diffusion of innovation model, where innovators are the first to adopt new ideas, followed by early adopters, early majority, late majority, and finally laggards who are the last to adopt.

Question 10

What is an 'empirical generalisation'?&#10;A) A scientific law&#10;B) Patterns regularly seen in data across multiple fields&#10;C) General knowledge that comes from empirical data&#10;D) Rules that tell us how to predict behaviour

Accepted Answer

An empirical generalisation refers to patterns regularly seen in data across multiple fields. It is a broad statement based on empirical data rather than a specific scientific law or rule. Therefore, option B is the best choice. Option A is incorrect because a scientific law is a well-established principle based on a lot of empirical evidence. Option C is partially correct as general knowledge can come from empirical data, but this is not always the case. Option D is incorrect as rules that tell us how to predict behaviour are closer to scientific laws than empirical generalisations.

Question 11

The tendency for brands with small market share to also have slightly less loyal customers is called:&#10;A) An empirical generalization&#10;B) Double jeopardy&#10;C) Duplication of purchase&#10;D) A Dirichlet model

Accepted Answer

The answer of The tendency for brands with small market...

Question 12

An individual who consistently purchases both Nike and Adidas shoes is displaying:&#10;A) When a customer switches to a competitor brand&#10;B) Polygamous loyalty&#10;C) The tendency for customers to forget what brand they are loyal to&#10;D) Polyamorous loyalty

Accepted Answer

The answer of An individual who consistently purchases both Nike...

Question 13

Which of the following is an example of a subscription market?&#10;A) Breakfast cereal&#10;B) A gym membership&#10;C) A movie ticket&#10;D) A restaurant meal

Accepted Answer

The answer of Which of the following is an example...

Question 14

Which of these is NOT a difference between repertoire and subscription markets?&#10;A) The number of products bought in the category&#10;B) The degree of loyalty to the product(s) bought&#10;C) The frequency of purchase&#10;D) The degree of service quality

Accepted Answer

The answer of Which of these is NOT a difference...

Question 15

An individual who pays for access to Peacock to watch English Premier League games is paying for what type of service?&#10;A) Standard&#10;B) Repertoire&#10;C) Subscription&#10;D) Efficiency

Accepted Answer

The answer of An individual who pays for access to...

Question 16

Which of the following products is typically a repertoire market product?&#10;A) A bottle of Gatorade&#10;B) A high-end set of golf clubs&#10;C) A set of hiking shoes&#10;D) A kayak

Accepted Answer

The answer of Which of the following products is typically...

Question 17

Which of the following states that how brands share customers is in line with each brand's market share or penetration?&#10;A) Double jeopardy&#10;B) Polygamous loyalty&#10;C) Duplication of purchase law&#10;D) Empirical generalization

Accepted Answer

The answer of Which of the following states that how...

Question 18

Partitioning can be described as the major functional differences or similarities between _______ that exist, which creates _________ of brands within the overall market.&#10;A) Brands / Sub-repertoires&#10;B) Consumers / Sub-repertoires&#10;C) Brands / Segments&#10;D) Consumers / Segments

Accepted Answer

The answer of Partitioning can be described as the major...

Question 19

The PGA of America recently signed a broadcast media deal with CBS and ESPN that will last until 2030. This transaction is an example of which type of sport market?&#10;A) Long-lasting market&#10;B) Repertoire market&#10;C) FMCG market&#10;D) None of the above

Accepted Answer

The answer of The PGA of America recently signed a...

Deck 2: The Sport Product and Empirical Generalizations