Purchase

A purchase is the final act in a consumer's decision-making process, which consists of exchanging a sum of money (or other value) for the ownership or use of a good or service. In marketing, it represents the moment of conversion , when a potential customer ( prospect ) becomes an actual customer.

2. What is it for / why is it important?

Purchasing is the primary objective and ultimate success metric for most marketing and sales strategies. It's important because:

• Generate revenue : This is the action that produces direct revenue for the company.

• Validate the strategy : A high number of purchases confirms the effectiveness of the entire marketing funnel, from the advertising message to the user experience.

• Start the relationship : Transform an anonymous interaction into a direct relationship with a customer, opening the doors to loyalty ( retention ) activities.

3. When is it used / in what context is it useful?

The term is ubiquitous and fundamental in every area of business:

• Sales Analysis : To monitor the performance of a product, a sales point or an e-commerce site.

• Digital Marketing : Online purchases are one of the main "conversions" tracked to measure campaign ROI.

• Consumer Behavior Study : To analyze the factors that influence the final decision (price, packaging, reviews, etc.).

• Retail : To optimize the "point of purchase" ( Point of Sale or Point of Purchase ), that is, the physical or digital place where the transaction takes place.

4. Practical example

A user sees an advertisement for a pair of shoes on a social network ( awareness stage), clicks on the ad, explores the site, compares models ( consideration stage), and finally enters their credit card information and completes the order. This final action, the financial transaction, is the purchase.