Wise Purchasing Decision

Topics: Need, Want, Payment Pages: 3 (842 words) Published: April 20, 2010
Wise Purchasing Decision � PAGE * MERGEFORMAT �5�

Wise Purchasing Decision

A Definition Essay

Albert W.Kayper-Mensah once said, "A crown is a hat, but you don't buy that, when you need a hat." Making wise purchasing decisions can be difficult because there are so many different products on the market today. A wise purchasing decision is not the kind of purchase that is made based off of emotions or impulse; a wise purchasing decision requires you think before the purchase is made, during the purchase process, and after the purchase.

Before you are ready to make a purchase you must know your needs. Make a list of features that you want the product to have. What things would be nice to have, but are not really necessary? You don't want to purchase a product that does not have all the features you want nor has more features than you need. Find out if the product has to be serviced or if repairs need to be made, how expensive those repairs could be. Check to see if there is any hidden cost. Hidden costs are accessories or services that will cost you more once you own the product. These things need to be taken into consideration whether you are buying the product for yourself or for someone else. Since there are different brands of the same product, you need to research different makes and models. For example, you want to purchase a computer. You found a desktop computer. In addition to the desktop computer, you also found a laptop. The laptop is portable, uses less power, and makes less noise. However, laptops are often slower, have less graphics, and less sound processing center. The example shows you the reason why it is important to know exactly what you need.

Another step to think about before making a wise purchase decision is made is to think about where, when, and how to buy the product. You will need to decide if the product will be brought from the internet, department store, specialty store, mail order, or from a trusted reseller. As you can...

References: Kayper-Mensah, Albert W. (1970). The dark wanderer. Tubingen, Germany: Horst Erdmann Verlag
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Generation Wise Purchasing Pattern Analysis Essay
  • Essay about Antigone's Wise Decision
  • Factor of Affecting Purchasing Decision Essay
  • Purchasing Decisions and Transportation Cost Essay
  • decision sheet Essay
  • decision Essay
  • Decision Essay
  • Purchasing and Supply Chain Management: Pricing Decision Essay

Become a StudyMode Member

Sign Up - It's Free