buying process

buying process

the various stages involved in a buying (PURCHASING) decision. In the case of industrial buying this requires the identification of the need to purchase a good or service, the development of a strategy for the handling of the purchase, the specification of the requirement, the search for suppliers, the evaluation of supplier's offerings, final negotiations, the award of the contract, operationalization of the supply relationship and subsequent feedback and control of the arrangements. For example, if an organization is purchasing an IT system, this buying process may have been initiated by the operations director. The IT department will then be asked to specify a system, usually in consultation with potential users. Once this is done, a buyer or contracts manager on the purchasing department may be asked, with support from technical staff, to identify suppliers, solicit proposals, and negotiate best value for this contract. Once the purchase is made, the operational staff will work with supplier staff to secure the inputs. The purchasing staff will usually check that the value which they negotiated is actually delivered.

In consumer buying, the process may be very quick, such as in an impulse buy, or may take longer depending on the importance of the purchase. For bigger purchases, a consumer will go through the stages of need awareness, information search, evaluation of alternatives, purchase and post-purchase evaluation.

References in periodicals archive ?
Viva Orlando Realty, is one such company, and has been helping foreign home buyers in the Orlando market for the past 10 years by providing step-by-step guidance throughout all the intricacies of the buying process and beyond.
Operated and administered by the state of Texas, this contract streamlines the buying process for Texas state and local government agencies, as well as K-12 public and higher education systems who acquire AVST's CX-E Unified Communications (UC) solution.
The education process tends to happen independently and because there's a basic desire for trusted information, the seller is often not involved in a buying process until the late stages or after the decision is made.
The Conveyancing Portal will help solicitors and licensed conveyancers save money and will speed up the house buying process for consumers.
The National Association of Estate Agents (NAEA) said the packs, introduced last year, were the wrong answer to simplifying the house buying process.
The award, sponsored by NHBC and voted by industry leaders, was presented to the housebuilder which judges felt best-demonstrated improvements in both the buying process and new home delivery.
Surfing the Internet as part of the home buying process continues to grow and the point-and-click set is younger, wealthier and better educated than shoppers who employ more traditional means, according to a survey released Tuesday.
Network Q polled more than 2000 buyers and found that far from making the used car buying process simpler , the dealer-speak they ran into was confusing.
Research commissioned by The Grocer has revealed the complexities of the buying process in the multiple retail sector, with some key buyers confirming that more than 10 people are often involved in making decisions in their business.
ZDM said the new unit will host community events designed to provide marketers with marketing solutions to attract new customers and accelerate the buying process.
This booklet aims to make the buying process simple and straightforward by providing essential background knowledge and tips.
com is Real Estate Value Brokerage that empowers Buyers and streamlines Real Estate buying process online.