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Test your basic knowledge |
Sports Franchise
Start Test
Study First
Subjects
:
industries
,
business-skills
Instructions:
Answer 37 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. The costs of operating a business. Unlike the cost of an asset - the cost of an expense does not provide a future benefit to the business. Therefore - its effect is a reduction in owner's equity.
Seating Capacity
Egress
Naming Rights
Expenses
2. Egress refers to the flow or fans out of or away from the stadium.
Usher
Royalty
Egress
Awareness
3. In advertising - the term media is used to describe avenues for communicating a message. The most common forms of media are TV - newspapers -radio and the internet.
signage
Demographics
Groundskeeper
Media
4. The percent of potential customers in a specific target audience who are aware of a products existence.
Security
Awareness
Yeild Managment Pricing
Licensor
5. A salary cap os the anual dollar limit that a single team may pay all its players. The main purpose of a salary cap os to maintain competiveness within a league.
franchise
salary cap
Promotional Items
Fan Loyalty
6. Owns the rights to some intellectual property and grants - permission to a groups - individuals or corporations to use this property.
Roster
Licensor
Forecasting
Promotional Items
7. Yeild managment pricing involves setting different prices for goods or services in an effort to maximize revenue whenlimited capacity is a factor.
Awareness
salary cap
Cost Per Reach
Yeild Managment Pricing
8. Any parking lot that is offsite from the stadium is considered satellite parking. Shuttle buses are often required to transport fans to and from the stadium.
Royalty
Satellite Parking
Promotional Items
Target Audience
9. A bottleneck is a lessening of traffic throughput. in viral business- sports - you may see bottlenecks occur in the parking lots because of overloaded traffic situations due to the inability of the parking and security.
Roster
Royalty
Bottlenecks
Revenue
10. Any revenue that comes from corporate sponsors. Selling advertising space in and around a stadium is the primary way to generate sponsorship dollars.
Sponsorship Revenue
Naming Rights
Negotiation
Licensor
11. Loyalty is devotion to an entity. Sports fan loyalty largely determines how much fans are willing to pay for sporting event tickets and how many games they are likely to attend. A losing record is likely to decrease sporting event attendance - but th
Fan Loyalty
Seating Capacity
Sponsorship Revenue
Licensing Revenue
12. Is a per unit payment made for the use of intellectual property created by a business's or person - such as a sport team's name and logo.
Awareness
Demographics
Media
Royalty
13. Infrastructure is the physical resources required for the operation of an event or activity. A good city for a football franchise will have an infrastructure that matches the team's needs. This includes the right size stadium - enough offsite parking
signage
Roster
Bottlenecks
infrastructure
14. Ingress refers to the flow of fans to or into the stadium.
Groundskeeper
Ingress
Demand
Licensee
15. The state of being and feeling secure and experiencing freedom from anxiety and fear - resulting from protection against harm or attack
Security
Forecasting
Expenses
Usher
16. A franchise is a business arangement in which one company (the franchise) obtains the rights to sell the products and use various elements of a business system of another company (the franchiser).
Cost Per Reach
Promotional Items
Awareness
franchise
17. The cost of an advertising campaign divided by the number of people reached.
Cost Per Reach
Security
Naming Rights
Ingress
18. A groundskeeper is someone who maintains property grounds of substational size like an athletic field. Proper field maintaenance is a very important and imprpoer maintence can lead to player injuries and league fines.
Groundskeeper
signage
Licensor
Yeild Managment Pricing
19. Seating capacity is the total number of seats that are available at a specific stadium.
salary cap
Demand
Seating Capacity
Usher
20. An attempt to make an unprofitable business profitable again.
Turnaround
Negotiation
Security
Licensor
21. Revenue that is generated from licensing agreements is considered licensing revenue. Licensing revenue is usually generated by granting third party companies the right to sell products including a team's name and logo. Typical products for licensing
Licensing Revenue
licensing
Royalty
Demographics
22. Includes organization - firms - or individuals that gave terms money in exchange for advertising rights on stadium sinage and naming rights.
sponser
franchise
Licensor
Satellite Parking
23. A list of players on a team.
Revenue
Seating Capacity
Roster
Demand
24. Sometimes a business will use special items in combination with its promotional campaign to help attract customers. These items are considered promotional items.
salary cap
Naming Rights
Promotional Items
Satellite Parking
25. Ushers are responsible for making sure fans sit and stay in their assigned seats. Fans will move to better seats if they are and there is no one to stop them.
Negotiation
Usher
Demand
Profit
26. The basic characteristics of a poulation segment such as gender - age - and income.
Awareness
Sponsorship Revenue
Target Audience
Demographics
27. Are the exclusive right of a sponsors to have its name and logo on a stadium.
franchise
Licensor
Naming Rights
Yeild Managment Pricing
28. Is the group - individuals or corporations paying a percentage of the revenue earned though the use of the intellectual property.
Promotional Items
Ingress
Security
Licensee
29. The amount of a good or service that consumers are able and willing to buy at various possible prices during a specified time period.
Licensing Revenue
Demand
Cost Per Reach
Target Audience
30. Target audience describes a particular market segment selected as being the most appropriate for a certain advertising campaign or schedule.
Target Audience
Turnaround
Demand
Demographics
31. Refers to the authorization that one business gives to another business - individual or organization which grants one of the entire permission to use another's property in exchange for a fee.
licensing
Cost Per Reach
Expenses
Usher
32. Gross income User-contributed - The increase in assets that result from the sale of a product or service in the normal course of business
salary cap
Revenue
Licensee
Security
33. Forecasting involves the prediction of upcoming results based on the evaluation of accessible - relevant data.
franchise
Licensee
Forecasting
salary cap
34. Is the act of discussing an issue between two or more parties with competing interests in order to reach an agreement.
Negotiation
Royalty
signage
Licensee
35. Is the collective use to sign - symbols or design. Sports and event stadium may reserve areas where sponsors can use signage for advertising purposes.
infrastructure
signage
Profit
Cost Per Reach
36. Price is the amount of money you charge customers for one unit. Ticket prices should reflect what customers are willing and able to pay.
Price
Revenue
Naming Rights
Cost Per Reach
37. The money earned from conducting business after all costs and expenses have been paid.
Seating Capacity
Groundskeeper
Profit
Revenue