Name: Joyce Anne S.

Santos
Grade/Sec: 12-ABM4

ACTIVITY 4

Answer the following questions.

1. What is the consumer buying process and how is it different from the business buying
process?

Answer:. The consumer buying process is the steps a consumer takes in making a
purchasing decision. The steps include recognition of needs and wants, information
search, evaluation of choices, purchase, and post-purchase evaluation. While in the
business buying process, this includes recognizing the problem, developing product
specs to solve the problem, searching for possible products, selecting a supplier and
ordering the product, and finally evaluating the product and supplier performance.

2. Join your family during the regular grocery shopping trip.Observe the consumer
buying process applied by the household member in charge of grocery shopping.

Answer: In my observation, the consumer buying process is where you can buy your
own basic needs, necessities, essentials and wants. You need to do budgeting and be
observant especially with the expiry date, consuming has its limit. Needs and wants has
a huge difference, you need to weigh its value before you purchase it. In terms of wants,
you need to choose the best quality but affordable and at the same time, a specific thing
that will make you happy.

3. Interview a store owner in your neighborhood about how products are purchased for
the store.Note how the business buying process applies to their experience.(Take at
least 2-3 pictures of the store owner in your neighborhood.)

Answer: As we own a retail store, I know how the business buying process works.
Before we purchase the items we make sure that the items that would be purchased will
fit on our store's budget. We need to check all the stocks, the number of items that are
still available, and the expiration date of the products. We prioritize the safety of our
consumers. We list down all the items that are out of stock and items that are going to
be sold out so that we can restock and provide for our consumers. After we purchased
all the products, we double checked the price of the items. Sometimes there are items
that increase its price.That is why we need to know how to adjust the profit. In
restocking, we follow the FIFO process or first in, first out (this is very useful in
managing our inventory)