Yesenia, the New University Course Scheduling Manager, Is Struggling with Adjustments

question 84

Multiple Choice

Yesenia, the new university course scheduling manager, is struggling with adjustments to the fall schedule. She is trying to determine how to offer the classes students need at the times when students need them. Yesenia is struggling with the marketing function of

• A) communicating the value proposition.
• B) supply chain management.
• C) creating value.
• D) capturing value.
• E) value co-creation.

---

Definitions:

Utility Maximization

The economic principle stating individuals aim to achieve the highest satisfaction possible from consumption given their income and prices of goods.

Diminishing Marginal Utility

A principle stating that as more of a good or service is consumed, the additional satisfaction from consuming one more unit decreases.

Income Effect

The impact of income changes on the demand for goods or services by an individual or within the economy.

Substitution Effect

Describes how consumers react to a change in the price of a good by substituting it with another good that is relatively cheaper.