Essay On Buying Process
16.0. NEED FOR AWARENESS The growing need for financial education for the families to take better financial decision and to increase their economic security has been widely recognized. It is felt that well informed and well educated customers can create economic ripples. They make better financial decisions for themselves and their families’ increasing their economic security and well being. Secured families are more involved in their communities as home owners and voters. They are more involved as parents with their children’s school and teachers, enabling better educational and economic out comes for their children. They contribute to vital, thriving communities, further fostering community economic development. Majority of Indian households …show more content…
Consumer buying process
This is an important process which has a vital role in consumer behaviour study. This is the first essential step to understand consumer behaviour. The objective of study of consumer buying process is to know how a consumer makes his decision regarding buying or not buying any commodity. In most cases, a decision involves the selection of an option from two or more than two or more attractive choices.
The buying process it the process of decision –making leading to a purchase function. It represents a problem-solving approach. The mechanism is the same as in any processing activity in which we supply some input followed by the processing activity and finally the output comes before
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For certain commodities, the buyer or consumer takes his buying decision immediately without much consideration. These are items of daily use. For some other commodities, mainly luxury or durable items, the consumer thinks much before taking a decision to purchase it. Sometimes, the consumer may also consult others, generally, the purchaser passes through five distinct stages in taking a decision for purchasing a particular commodity. These stages are (1) need arousal, (2) information search (3) evaluation behaviour (4) purchase decision, and (5) post-purchase
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