Purchasing process

economic-dictionary

The buying process is the series of phases that a consumer goes through before deciding to buy a product.

Before introducing ourselves to this topic, we are going to define that buying is the action of acquiring a product in the market, whether it is a good or a service. When buying, a person looks for the product to have the appropriate attributes and quality for their needs. That the price is reasonable in relation to the benefits you receive with the product and that you find it in the right place and at the appropriate time.

Likewise, the process refers to the steps or stages that are passed through, prior to making the decision to make the purchase action effective. That is, pay the price demanded to obtain the product.

Purchasing process

Stages of the purchase process

Consequently, whatever product a person wants to purchase, the stages of the purchasing process are as follows:

1. Recognition of the problem

Certainly, the buying process begins when the person becomes aware that they are facing a lack, thus recognizing their need. Then she decides to make an effort to try to satisfy her, this motivation is what drives her to seek the satisfier

For example, if we analyze the case of a person who recognizes that he has a need to travel safely and quickly. So think of a satisfier like a car, the person asks, do I need a car to transport me safely and quickly? If your answer is yes, do you ask yourself, do I buy a car or not?

2. Information search

Surely, the next step is to find information about the topic to solve the problem. First, the internal information that an individual possesses is sought, which is based on their past experiences to solve similar situations. External information is immediately sought, this can be found in other people who are more expert on the subject, reference groups, information sources and the media.

Continuing with the example, if the individual decides to buy a car, he first questions his own experience. Like which brand of vehicle is the most reliable for him, which one has the best prices, and which one has the best performance.

Later you could consult a person to advise you on your decision. You could also look for information on the Internet or specialized magazines, finally you will attend to the information offered by the media and vehicle dealers.

3. Information analysis

Then the information obtained is carefully analyzed before deciding to buy the product.

Therefore, in the case of the vehicle example we referred to above, it takes a long time for the person to process and analyze the information. Because buying a car involves making a decision that involves a lot of risk, since it is a high-priced product and therefore it will take more time to make your decision.

4. Purchase action

After the information analysis stage is finished, the person decides to make his purchase. However, even at this last moment you could have influence from other people that could affect your decision.

In our example, let's imagine that the buyer had already decided on a vehicle of a certain make and model. But if the seller gave you an attractive promotion with a similar car, it could be that you change your decision and end up buying the promotional vehicle.

5. Product use and post-purchase evaluation

As a result, the process ends when the individual finally uses the product and evaluates the purchased product, here he determines whether he was satisfied with his purchase or not.

Steps in the purchase process

By way of conclusion, it should be noted that not everyone who is going to make a purchase decision goes through the steps of recognition of the problem, the search for information, the analysis of information, the act of purchase and ends with the evaluation at the time of use the product.

This is because the purchasing processes can change between people depending on many factors. And it is that, each person is different.

The higher the price of the product, the greater the risk a person runs, which is why it takes more time to make a purchase decision. Now in a low-priced product, although the same steps are followed, the decision is almost automatic, because the person's decision is very fast.

Think how is your shopping process when you buy a computer or when you buy a bag of potatoes?

Tags:  cryptocurrencies Commerce economic-dictionary 

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