Business Purchase Decision: Steps 3, 4 and 5

Step 3: Evaluate Option

Once the search has produced options, members of the Buying Center may then choose among the alternatives.  In more advanced purchase situations, members of the Buying Center may evaluate each option using a checklist of features and benefits sought by the buyer.  Each feature/benefit is assigned a weight that corresponds to its importance to the purchase decision.  In many cases, especially when dealing with Government and Not-For-Profit markets, suppliers must submit bids with the lowest bidder often being awarded the order, assuming products or services meet specifications.

Step 4: Purchase

To actually place the order may require the completion of paperwork (or electronic documents), such as a purchase order.  Acquiring the necessary approvals can delay the order for an extended period.  And for extremely large purchases, such as buildings or large equipment, financing options may need to be explored.

Step 5: After-Purchase Evaluation

After the order is received, the purchasing company may spend time reviewing the results of the purchase.  This may involve the Buyer discussing product performance issues with Users.  If the product is well received, it may end up moving to a Straight Repurchase status, which eliminates much of the evaluation process on future purchases.