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HFT 4502- Exam 3 Questions with Correct Answers |
Updated (100% Correct Answers)
1. How many points are available in this class Answer: 750
2. Which of the following approaches to pricing most closely Answer: D) Value-
Based Pricing
3. If the demand for a travel product is said to be price elastic, what does this
mean? Answer: D) A cut in price means more revenue generated than at the
higher price
4. The establishment of price based largely on those of competitors is called
Answer: C) Going-rate pricing
5. The factor that sets the floor for a products price is Answer: A) Cost
6. For which type of goods could the demand curve slope upward? Answer: B)
Prestige good
7. For most travel/hospitality products (other than those that could be
characterized as prestige goods), the demand curve is Answer: C) Relatively
elastic
8. The trade-off of intermediary use in the hospitality industry is Answer: C)
Upstream vs. Downstream
9. The companies Tauck and Vermont Bicycle Tours (VBT) are best described as
what type of marketing? Answer: C) Tour wholesalers
© 2026 All rights reserved
HFT 4502- Exam 3 Questions with Correct Answers |
Updated (100% Correct Answers)
1. How many points are available in this class Answer: 750
2. Which of the following approaches to pricing most closely Answer: D) Value-
Based Pricing
3. If the demand for a travel product is said to be price elastic, what does this
mean? Answer: D) A cut in price means more revenue generated than at the
higher price
4. The establishment of price based largely on those of competitors is called
Answer: C) Going-rate pricing
5. The factor that sets the floor for a products price is Answer: A) Cost
6. For which type of goods could the demand curve slope upward? Answer: B)
Prestige good
7. For most travel/hospitality products (other than those that could be
characterized as prestige goods), the demand curve is Answer: C) Relatively
elastic
8. The trade-off of intermediary use in the hospitality industry is Answer: C)
Upstream vs. Downstream
9. The companies Tauck and Vermont Bicycle Tours (VBT) are best described as
what type of marketing? Answer: C) Tour wholesalers
© 2026 All rights reserved
