Susan Is Trying to Select a Tour

question 14

Multiple Choice

Susan is trying to select a tour. She is going to Scotland but can't make up her mind what she wants to do when she gets there. There are so many variables including the cost, the weather, and Susan's desire to see the village her grandmother called home. Susan's problem emphasizes the importance of the ________ in hospitality marketing.

• A) rational perspective
• B) behavioural influence perspective
• C) psychological perspective
• D) experiential perspective

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Definitions:

Current Cost

The cost that would be incurred to replace an asset or to purchase an equivalent asset at the current time.

Management Discretion

The degree of flexibility and judgement allowed to managers in making decisions and choices impacting the company's operations and performance.

FIFO

An inventory valuation method where the first items placed into inventory are the first ones sold (First In, First Out).

LIFO

Stands for Last In, First Out, an inventory valuation method which assumes that the last items placed in inventory are sold first.