BAS 282: VALUE CREATION: HOMEWORK
QUESTIONS WITH VERIFIED ANSWERS
Twin Oaks uses ________ to communicate to customers the value of the brands it
represents because it believes it to be the most important type of marketing. -
Answers - word of mouth
________ is changing the way marketers at Twin Oaks communicate value to
customers in that it allows them to better connect with its brands and other
consumers. - Answers - Social media
Usually the first "P" considered, this element of the marketing mix is a specific
combination of goods, services, or ideas that a firm offers to consumers. Plastic
spoons, software packages, and gold jewelry all fall into this category. - Answers
- Product
This element of the marketing mix is the amount of something (money, time, or
effort) that a seller uses to purchase or obtain a product. It relates to the
customer's assessment of a product's value and quality. This element is typically
the easiest component of the marketing mix to change. - Answers - Price
This element of the marketing mix includes the activities that a firm undertakes to
make its goods and services available to potential consumers. It includes
location, distribution, and inventory management. - Answers - Place
This element consists of all the activities that communicate the value of a product
and persuade customers to buy it. Four common components of this "P" are
advertising, sales promotion, personal selling, and public relations. - Answers -
Promotion
If Gabby's mother places the highest value on convenience when looking for a cup
of coffee, which of the marketing mix components is she most concerned with? -
Answers - Place
Gabby's father prefers the no-frills coffee offered at Joe to Go because it is
inexpensive and offers 25-cent refills. Which component of the marketing mix
does Joe to Go rely on to capture value from customers like Gabby's father? -
Answers - Price
Gabby prefers coffee made from artisanal beans, which means she is most
concerned with which element of the marketing mix? - Answers - Product
The tools used by Grizzlies' marketers to promote the team and accomplish their
communications objectives are called - Answers - the promotion mix.
1
QUESTIONS WITH VERIFIED ANSWERS
Twin Oaks uses ________ to communicate to customers the value of the brands it
represents because it believes it to be the most important type of marketing. -
Answers - word of mouth
________ is changing the way marketers at Twin Oaks communicate value to
customers in that it allows them to better connect with its brands and other
consumers. - Answers - Social media
Usually the first "P" considered, this element of the marketing mix is a specific
combination of goods, services, or ideas that a firm offers to consumers. Plastic
spoons, software packages, and gold jewelry all fall into this category. - Answers
- Product
This element of the marketing mix is the amount of something (money, time, or
effort) that a seller uses to purchase or obtain a product. It relates to the
customer's assessment of a product's value and quality. This element is typically
the easiest component of the marketing mix to change. - Answers - Price
This element of the marketing mix includes the activities that a firm undertakes to
make its goods and services available to potential consumers. It includes
location, distribution, and inventory management. - Answers - Place
This element consists of all the activities that communicate the value of a product
and persuade customers to buy it. Four common components of this "P" are
advertising, sales promotion, personal selling, and public relations. - Answers -
Promotion
If Gabby's mother places the highest value on convenience when looking for a cup
of coffee, which of the marketing mix components is she most concerned with? -
Answers - Place
Gabby's father prefers the no-frills coffee offered at Joe to Go because it is
inexpensive and offers 25-cent refills. Which component of the marketing mix
does Joe to Go rely on to capture value from customers like Gabby's father? -
Answers - Price
Gabby prefers coffee made from artisanal beans, which means she is most
concerned with which element of the marketing mix? - Answers - Product
The tools used by Grizzlies' marketers to promote the team and accomplish their
communications objectives are called - Answers - the promotion mix.
1
