Sports Marketing Ch 2 T/F

The marketing concept requires maintenance of important relationships with customers.

Maslow's Hierarchy of Needs:

Basic Needs; food, water, sleep, shelter, air

About half of every dollar that consumers spend on products pays for marketing costs.

Producers are the driving force behind the marketing concept.

Companies that have a comparative advantage are able to pass savings to their customers in the form of lower prices.

Young families often spend entertainment dollars to attend sporting events for their children.

Maslow's Hierarchy of Needs:

Desire for Friends, Family, Love and Belonging

Maintaining a successful marketing relationship requires little to no effort.

 The increased standard of living in the United States has resulted in less discretionary income for consumers.

Two major goals of marketing are to determine what consumers want and how much they are willing to pay.