Purchase Decision Process Flashcards, test questions and answers

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What is Purchase Decision Process?

When it comes to making a purchase decision, there are many factors that come into play. The process of making a purchase decision can be broken down into three distinct stages: research and analysis, comparison shopping, and finalizing the decision. The first stage of the purchase decision process is research and analysis. This involves researching potential products or services that fit the criteria set by the consumer. This includes checking reviews from other customers, researching pricing trends in the industry, examining features offered by various competitors, researching warranties and customer service ratings, as well as other factors that may be important to an informed buying decision. After narrowing down potential choices based on research findings, consumers then compare them side-by-side to determine which one best meets their needs or preferences. The second stage of the purchase decision process is comparison shopping. Consumers must compare available products or services against each other in order to determine which option provides them with the best value for their money. Comparing prices between different retailers is essential while also looking at product quality and performance ratings before making a final choice. Additionally, shoppers may take advantage of discounts or promotional offers available from some retailers during this stage in order to get more bang for their buck when selecting a product or service provider. Finally comes the third stage of the purchase decision process: finalizing the decision. During this phase consumers will review all options one last time before committing to a particular choice. They should also take into account any additional fees such as shipping costs or installation fees before signing off on an agreement with a provider if applicable.