Richard purchases his groceries from the neighborhood general store. He does not like the place, but he goes there because it is very conveniently located, and he just has to walk a few minutes to get there. Richard's buying behavior, in the context of the neighborhood general store, can be best described as _____.

Consumer inertia can be defined as the determination of some of the customers to continue to purchase a product, even when the higher level ranking options are available. Companies that can precisely account for their consumer inertia when putting up prices and analyzing the effects it will have on competition tends to have an upper hand within their markets.

Most companies sometimes tend to integrate consumer inertia by setting pricing methods that offer discounts to new customers. Both established firms and new market entries mostly make use of this introductory offers to gather as much customers as they can and then go on to raise the prices later on.

adioabiola adioabiola · Answer 2 · 2020-03-24T01:28:00+01:00

Answer:

Consumer inertia

Explanation:

Consumer inertia: This can be defined as a situation in which customers buy a particular product from a particular place even when they have other options. It means a consumer will continue buy a product or buy from a store even when they don't like the product or store simply because of the advantage the product or store has over others. Advantages such as nearness to the consumer, reduction in price, availability of more choices to choose from etc.

Consumers continue to buy a product from a particular place basically because of convieniency.

Richard is buying from the neighborhood grocery store marjorly because of distance. The neighborhood grocery store is located near Richard compared to other stores he would have preferred to buy from.