You have learned many of the ways that personal buying decisions and business bu

Question

You have learned many of the ways that personal buying decisions and business buying decisions differ. Now, it’s time to look for evidence of those differences in your own experiences.

Choose a recent important purchase you made in your personal life. Describe the steps you went through in reaching the buying decision, from awareness of need, through consideration of alternatives, final decision and post-purchase evaluation. Be sure to identify at least 3 outside influences that played a role in your decision.

Next, select a recent purchase made at your place of work. Describe in detail the steps that were followed in decision-making, including how the need was identified, who participated in the decision-making, how a supplier was selected, and the degree of satisfaction with the ultimate decision.

Critique the personal and workplace decision processes. How could they have produced a better outcome? What stages of decision-making were most difficult?

Explanation / Answer

In the personal space, the decision to purchase was made for acquisition of a television. The steps involved in the decision making process are:

The personal decision making process went through the step of identification of need and then reviewing various feedbacks and product reviews to finalize the product. And then the selected product was purchased from a retail outlet. The process could have been more exhaustive and more data points could have been selected for a better review and choosing a better and a different product. Also the time of purchase could have been changed to get a better value for money.

The most difficult phase was to review the various products and zeroing on the product to be purchased.

In the official space, the decision to purchase was made for purchase of a shipment of fertilizer of 30000 MT. The steps involved in the decision making process are:

The official decision making process went through the step of identification of need and then floating enquiries for the product and then negotiating with suppliers based on offers received. And then the most preferred supplier is selected for the purchase. The process could have been more exhaustive and more number of quotations could have been invited and negotiations could have been done more stringently to get best terms. Also the time of purchase could have been changed to get a better value for money.

The most difficult phase was to negotiate with suppliers on the various offers received and conclude the purchase.

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