Lorenzo Clowder has settled on purchasing a new Honda Accord and has found that the suggested retail price is $22,200 and that the dealer's invoice price is $19,980.It is time for him to go to a dealer and negotiate the price he will pay for his new car.What step in the purchasing process is Lorenzo carrying out?

Question

Quizplus · Accepted Answer

Lorenzo is determining the purchase price, which is a step in the purchasing process. He has already completed the problem identification and information gathering steps by selecting the Honda Accord and discovering the suggested retail and invoice prices. He has also evaluated alternatives by deciding on the Honda Accord as his preferred model. After negotiating with the dealer, he will finalize his purchase and move on to post purchase activities.

Lorenzo Clowder Has Settled on Purchasing a New Honda Accord