Libra Travels regularly checks the prices at which other travel agencies sell their services to evaluate its position. Libra Travels uses a _____ to measure its competencies.

Question

Quizplus · Accepted Answer

Libra Travels is using a strategic reference point to evaluate its position in the market. A strategic reference point is a benchmark used by firms to evaluate their performance relative to their competitors. By regularly checking the prices at which other travel agencies sell their services, Libra Travels is staying up-to-date with the market and determining where it stands in relation to its competitors.

Libra Travels Regularly Checks the Prices at Which Other Travel