Preview

Wise Purchasing Decision

Better Essays
Open Document
Open Document
842 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Wise Purchasing Decision
Wise Purchasing Decision � PAGE * MERGEFORMAT �5�

Wise Purchasing Decision

A Definition Essay

Albert W.Kayper-Mensah once said, "A crown is a hat, but you don 't buy that, when you need a hat." Making wise purchasing decisions can be difficult because there are so many different products on the market today. A wise purchasing decision is not the kind of purchase that is made based off of emotions or impulse; a wise purchasing decision requires you think before the purchase is made, during the purchase process, and after the purchase.

Before you are ready to make a purchase you must know your needs. Make a list of features that you want the product to have. What things would be nice to have, but are not really necessary? You don 't want to purchase a product that does not have all the features you want nor has more features than you need. Find out if the product has to be serviced or if repairs need to be made, how expensive those repairs could be. Check to see if there is any hidden cost. Hidden costs are accessories or services that will cost you more once you own the product. These things need to be taken into consideration whether you are buying the product for yourself or for someone else. Since there are different brands of the same product, you need to research different makes and models. For example, you want to purchase a computer. You found a desktop computer. In addition to the desktop computer, you also found a laptop. The laptop is portable, uses less power, and makes less noise. However, laptops are often slower, have less graphics, and less sound processing center. The example shows you the reason why it is important to know exactly what you need.

Another step to think about before making a wise purchase decision is made is to think about where, when, and how to buy the product. You will need to decide if the product will be brought from the internet, department store, specialty store, mail order, or from a trusted reseller. As you can see,



References: Kayper-Mensah, Albert W. (1970). The dark wanderer. Tubingen, Germany: Horst Erdmann Verlag

You May Also Find These Documents Helpful

  • Satisfactory Essays

    EN1320 RP Week2 Essay

    • 330 Words
    • 1 Page

    The first step I take is basically not listening to all the hype and trends that everyone follows. I personally do a ton of research before I make any decision on anything I purchase. I do read reviews on consumer sites but never blogs or anything of that nature. I base my opinion on the specifics and the cost of the device. I ask myself if it has everything I need and want. Once, I figure that out, I look at the cost. Is the device cost effective for what I need.…

    • 330 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    Decide on 3 major criteria that you will use to evaluate these products (examples are: appearance, cost, functionality, longevity, customer satisfaction, etc.…

    • 557 Words
    • 3 Pages
    Satisfactory Essays
  • Better Essays

    Best Buy Strategy

    • 1790 Words
    • 8 Pages

    1) Following are the key features of various elements of Best Buy’s Big-box retail model:…

    • 1790 Words
    • 8 Pages
    Better Essays
  • Satisfactory Essays

    Pdax-5 Car Amplifier

    • 411 Words
    • 2 Pages

    We suggest looking into reviews in order to have an idea of what the customers out there have to say about the products.…

    • 411 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Groupon case study

    • 521 Words
    • 3 Pages

    purchase decision - the consumer has considered all the options and has come to a decision.…

    • 521 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    I purchase products online frequently and the factor that best influences my decision is the psychological. My purchases usually are based on items that I feel will add to my lifestyle, like clothes, shoes and I recently purchased rugs to add to my home.…

    • 657 Words
    • 3 Pages
    Good Essays
  • Better Essays

    think about many factors when going to make a decision and when making the decision to use…

    • 1611 Words
    • 7 Pages
    Better Essays
  • Good Essays

    There are many reasons that a consumer chooses a certain product. It may be that it is environmentally friendly, a great design or it might be as simple as the price of the product. As a business organization we must be able to conduct our research and decipher what is most important to our target market. The consumer buying decision process is a systematic way of looking at how a consumer makes the decision to purchase a product (any product) in a product category. In our restaurant we will determine what products they want and develop a successful strategy on how to market our products and services.…

    • 813 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Buyer Behaviour

    • 3185 Words
    • 13 Pages

    The Decision Making Process developed by Engel Blackwell and Miniard (1990) is used in order to understand thoughts of consumers when buying products.…

    • 3185 Words
    • 13 Pages
    Good Essays
  • Satisfactory Essays

    Consumer Buying Behavior:

    • 459 Words
    • 2 Pages

    The marketer wants to understand how the stimuli are changed into responses inside the consumer's black box, which has two parts. First, the buyer's characteristics influence how he or she perceives and reacts to the stimuli. Second, the buyer's decision process itself affects the buyer's behavior. This chapter looks first at buyer characteristics as they affect buying behavior, and then discusses the buyer decision process.…

    • 459 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Victoria Secret

    • 410 Words
    • 2 Pages

    The buyer decision process is for when a consumer faces a new and complex purchase situation. The first step is need recognition. The need can begin when someone either sees and advertisement or talks with a friend and it triggers the need. The second step is Information Search. An interested consumer may or may not search for more information on a product. If a consumer’s drive is strong and a satisfying product is at hand, the consumer is more likely to buy the product. The third step is evaluation of alternatives. This is how the consumer process information to arrive at brand choices, and its how a consumer makes a choice of buying one product over maybe two others. The fourth step is purchase decision. This is when the consumer purchase decision will be the brand the prefer. It’s when someone tells you it would be better to buy the lowest priced car, and your chances of buying an expensive car are reduced. Post purchase behavior is the fifth step in the buyer process. This happens after the consumer has bought the product, they decide whether the brand is satisfying.…

    • 410 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    This paper examines various decision analysis methods that can be used to determine whether to make or buy an item, whether it is a tangible good or service. Factors that can impact the ability to make a timely and accurate decision will also be analyzed.…

    • 2887 Words
    • 12 Pages
    Powerful Essays
  • Good Essays

    Nike Running

    • 854 Words
    • 4 Pages

    The typical stages of consumer buying process include need recognition, information search, the evaluation of alternatives, purchase decision, and post purchase behavior. Need recognition occurs when the buyer realizes they have a problem or need which is triggered by either internal or external stimuli. [1] The information search begins when consumers collect information pertaining to the product. This comes form sources, which include personal, commercial public and experiential. Once the information is gathered, the evaluation of alternatives takes place and the consumer uses the information to decide on brand choices. Next comes the purchase decision. During this phase of the consumer buying process, attitudes of others as well as unexpected situational factors affect the purchasing decision of the buyer. Finally, the consumer measures their expectations against the perceived performance of the product and determines their level of satisfaction.…

    • 854 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Ielt Task 2

    • 306 Words
    • 2 Pages

    First and foremost, although nowadays consumers are bombarded with information of products and services, viewers are still decisions-makers. Some people concern about quality, others have interest in quantity. But, they generally buy products according to their own interests, tastes, income and other factors. Moreover, customers are now increasingly cautious about advertised products, they thus ask for advice from their friends and families, instead of buying them impulsively. In simple terms, it is customers rather than advertisers who decide to purchase a certain product.…

    • 306 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Buying Bihaviour

    • 1980 Words
    • 8 Pages

    Thus, it is important to study the thought process that goes into making a purchase decision, so…

    • 1980 Words
    • 8 Pages
    Powerful Essays