Using an example of a recent purchase which is a Playstation 5, answer the following questions: 1. Justify, using relevant theory, why this was a high involvement purchase. 2. Demonstrate how the product/service you purchased satisfied a need, within your answer identify what type of need this was. 3. Explain why you chose this product over others you may have considered. You may want to consider how it differentiated itself from other products and which elements of the marketing mix it used to build this differentiation. 4. Discuss whether you feel you gained value from this purchase, within your answer show how value is created during an exchange. could you please write around 2000 words with references?

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Purchase Process

Purchasing refers to the act of procurement of products or services from a market of resources. The procedures used to accomplish the acquisition of the requisite resources are referred to as the purchasing process. Consumer behavior, customer strategy, product pricing, consumer necessity, and other variables are various parts of the process.