Jonni Has Just Started with a Travel Agency and Has

question 12

Multiple Choice

Jonni has just started with a travel agency and has been offering clients and prospective clients a range of packaged tours. She is concerned because the commissions she is earning on her sales are lower than she had hoped. Her colleague Andrew, who has been with the agency for several years, is having a great deal of success by working closely with the clients, seeking their ideas, and building customized tour packages for each one based on their suggestions. Andrew's approach is based on

• A)transaction-oriented marketing.
• B)premium pricing.
• C)economies of scale.
• D)special incentives from tour operators.
• E)value cocreation.

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Definitions:

Statutory Irrevocability

A legal provision or condition set by statute that cannot be revoked or undone by the parties involved once established.

Windfall Theory

Windfall theory suggests that unexpected, unearned, or sudden gains (windfalls) in wealth can have various effects on individuals’ behavior, the economy, or market dynamics.

Merchant

A person or company engaged in the wholesale or retail sale of goods or services.

Authorized Dealer

An entity or individual officially recognized and permitted by a manufacturer or government to sell or distribute specific products or services.