Along with Other Skills,effective Travel Agents Need to Be Able

question 69

Multiple Choice

Along with other skills,effective travel agents need to be able to search through various databases for the best combination of accommodation and transportation options for their clients,as well as many other bits of relevant information such as exchange rates,local customs,and entertainment options.According to the Guidelines for the Undergraduate Psychology Major,which competency do psychology majors meet that would help them as travel agents to perform the aforementioned skills?

• A)knowledge base of psychology
• B)application of psychology
• C)information and technological literacy
• D)personal development

Recognize various pricing orientations (e.g., customer, competitor, sales, and profit orientations) and their strategic applications.

Identify and explain the concepts of price elasticity and how it affects consumer demand and pricing strategies.

Comprehend the role of price in the marketing mix and its relationship with perceived value, cost, and consumer purchasing behavior.

Analyze the impact of pricing strategies on company objectives, such as market share, profit maximization, and customer satisfaction.

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Definitions:

Beta

Beta measures the tendency of a security's returns to respond to swings in the market, providing insight into its relative risk.

Dividend Growth Rate

The dividend growth rate is the annual percentage rate at which a company's dividend payments to shareholders increase over time.

SML

The Security Market Line (SML) is a line that represents the risk-return relationship of the market at a given time, as described in the Capital Asset Pricing Model (CAPM).

T-Bill Rate

The T-Bill rate is the yield on U.S. Treasury bills, a benchmark for short-term interest rates in the United States.