
Concept explainers
Case summary: An annual film, music and technology festival name SXSW is held in Austin, Texas for 10 days in March. 1000s of concertgoers are welcomes in the city. Part trade show and part mega concert, this enormous event not only makes fan of hip art happy but also serves as the meeting point for new artists.
The music portion of SXSW featured 2,000 acts. With so much population, there is ample opportunity for all types of promotions. Each year the festival teams up with the corporate sponsors to advertise at the event.
SXSW also feature some B2B promotions. For a lower price attendees can choose to assess a single event. With so much to do and see SXSW generates a lot of publicity.
Music is the product that benefits from personal touch. The fans work for free to promote the band and the event. All the personal selling done in the event benefits both the band as well as the event. SXSW employs a number of strategies to stay cool at the event and promote both the event and the bands.
To discuss: The four elements of promotion mix.

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Chapter 16 Solutions
EBK UNDERSTANDING BUSINESS
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- 5. A risk that has both a high impact and high probability is referred to as A. Negligible B. Moderate C. Low D. Extreme 6. A business continuity plan is mainly used to_ A. Increase profits B. Handle daily tasks C. Prepare for disruptions D. Advertise services 7. What is the role of a risk owner? A. To finance the risk B. To monitor and manage a specific risk C. To create risks D. To avoid planning 8. Early warning indicators help businesses to A. Avoid legal actions B. Grow rapidly C. Detect potential risks D. Hire employees 9. A hazard-based risk includes A. Political instability B. Ergonomic issues C. Market demand D. Taxation changesarrow_forward1. What is the primary purpose of risk management in small businesses? A. To eliminate all risks B. To predict profits C. To reduce and control risks D. To create new risks 2. Which of the following is a type of operational risk? A. Interest rate change B. Natural disaster C. Supplier failure D. Tax policy change 3. SWOT analysis identifies all EXCEPT A. Strengths B. Weaknesses C. Tactics D. Opportunities 4. Which strategy involves taking no action against a risk? A. Mitigation B. Avoidance C. Acceptance D. Transferarrow_forwardList and briefly describe four risk response strategies.arrow_forward
- Explain the purpose of a risk register.arrow_forwardAssume that your business is going to apply for a bank loan. Step into the shoes of a banking official who has the power to say yes or no to your loan application. From the bank’s vantage point, what are the strengths and weaknesses of your business plan? Does your plan seem realistic, given the financial assumptions and the business environment? What questions would you, as a bank officer, ask about your business plan? As the entrepreneur behind the business plan, how would you answer these questions and persuade the bank to approve your loan? Write up your questions and answers in one paragraph. Then use what you’ve learned to further strengthen your plan.arrow_forwardAssume that your business is going to apply for a bank loan. Step into the shoes of a banking official who has the power to say yes or no to your loan application. From the bank’s vantage point, what are the strengths and weaknesses of your business plan? Does your plan seem realistic, given the financial assumptions and the business environment? What questions would you, as a bank officer, ask about your business plan? As the entrepreneur behind the business plan, how would you answer these questions and persuade the bank to approve your loan? Write up your questions and answers in one paragraph. Then use what you’ve learned to further strengthen your plan.arrow_forward
- MarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational PublishingManagement, Loose-Leaf VersionManagementISBN:9781305969308Author:Richard L. DaftPublisher:South-Western College Pub
