What is Buying process and its types?



Buying process is the culmination of a process which may take place instantaneously or stretch out over a long period of time but at last leads to a decision to buy either goods or services. For a buying process to begin the buyer must identify the need and then search for and explore possible avenues for meeting it. Then the buyer gathers information, and evaluate all buying criteria and among the best few alternatives, once they reach a decision and choice, they take action by making a purchase but final step will involve the revaluation of the decision and its results.

Consumer buying process involves the actual individual in need of the product which is mainly for direct consumption. In this, a decision is reached at once by one person after all procedures are followed. The process begins with Need recognition, Information search, Evaluation of alternatives, Purchase decision and Post purchase decision.

Industrial buying process which involves the purchase of products to be used for further production or re-sale. This where retailers, wholesalers, intermediate manufacturers lay. In this, the process involves Problem recognition, General need description, Product specifications, Supplier search, Proposal solicitation, Supplier selection, Order-routine specification and Performance review.

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