Certified Travel Associate Practice

How is Value defined in the context of sales?

1. A. Asking leading questions

2. B. Beliefs about right and wrong

3. C. Relationship between the price paid and performance or benefits received

4. D. Time management strategy

The correct answer is: C. Relationship between the price paid and performance or benefits received

In the context of sales, value is defined as the relationship between the price paid and the performance or benefits received. This means that when customers assess value, they look at how much they are paying for a product or service in relation to the benefits or results they derive from it. A strong perception of value occurs when customers believe that what they are receiving justifies the cost, leading to greater satisfaction and loyalty. The other options touch upon different concepts: asking leading questions relates to sales techniques, beliefs about right and wrong refer to ethics and personal values outside of sales, and a time management strategy deals with efficiency and productivity rather than the monetary value proposition. Therefore, the correct answer focuses specifically on how customers evaluate the worth of a purchase based on its cost versus its advantages.