Hospitality Marketing Chapter 5: Goodwill Video

A​ buyer's psychology can affect how he or she sees an item. When items are​ identical, but priced​ differently, there is a different response by the customer. When Goodwill initially prices an item​ high, but later deeply discounts​ it, this sends a message to consumers. This​ message, or​ stimuli, is also known as a​ __________.

Cue

Goodwill shapes and influences the behavior of retail buyers by stocking items that are most likely to sell given the identity of the surrounding neighborhood. For​ example, the store in​ Haight-Ashbury, San Francisco stocks different items than a store in rural Indiana. This is an example of understanding how which of the following characteristics impacts the consumer buying​ process?

Cultural

The​ Haight-Ashbury store stocks only the most​ in-vogue items in their inventory to cater to their clientele. Consumers will buy only the most​ cutting-edge goods. These consumers fall into which of the following​ categories?

Early adopters

The changing economy and technological​ advances, such as eBay and​ craigslist, impact the quality of donations that Goodwill​ receives, which affects options for consumers purchasing products. These are factors in​ a(n) ________________ that impact what and how much a buyer buys.

Environment

Typical consumer purchases at Goodwill would be classified as​ __________.

Variety-seeking