Purchasing is a business term associated with the acquisition of goods or services. Purchases are, therefore, product or services offered by business for the satisfaction of human wants. It is also a process that is different from different organizations. There are different types of purchases depending on the products as well as the human want that require satisfaction. They also use a different process of purchasing.
One of the different purchases is associated with health products. Health care is a basic human want and people cannot live without. It is associated with wellbeing and dictate an individual’s level of metabolic efficiency which leads to their functionality. Health also explores the human capabilities of adjusting and adapting to factors of the environment that can lead to mental physical and social changes. There exists a wide variety of health issues, and one of the major ones are diseases. Other issues include injuries from accidents which may cause fractures, burns cuts and can also be fatal/. Health care is usually provided as a service to the population. It also has products in the form of drugs, and assistive devices which are given to people with suffering from health problems. The demand for healthcare is very high. According to statistics, there are more than 5723 health care facilities in the United States amiable for the public. These hospitals employ more than eight hundred thousand physicians who are responsible for taking care of health care needs of the patients.
The purchasing that takes place as a result of healthcare, therefore, involves the receiving drugs or other health services such as checkups, surgeries, mental evaluations and many other factors. They are offered at a price, and thus people have to purchase. The process of purchase of health care products and services vary. They are mostly in the form of insurance whereby people pay premiums, and then an insurance company covers the cost with the health care providers. They are also in the form of cash where they are paid for upfront. Pharmacies deal with payment of drugs upfront using different methods of cash payments. These forms of purchasing are based on the lack of ability to predict the development of health problems. It is for this reason that health care involves the need for risk pooling using insurance companies that ensure that patients can receive treatment and drugs despite the high prices (Wiley, Lindsay. and Gene, 2017)
Safety provides another aspect of purchasing. Safety entails the protection from different forms of harm. There exist different forms of hazard with a likelihood of causing harm. This leads to different levels of risk. Risk does exist in people’s day to day lives but in different levels. High levels of risk mean that people will have to look for safety and low levels of risk mean that people can accept the risks. The need for safety, therefore, creates a business gap which can be filled with the provision of different safety and security services. Safety and security services are employed to ensure that people lives are secure environment away from harm. It ensures that there are peace and harmony. Safety allows businesses to grow with limited levels of risk. Safety and security products and services exist in different ways. It can be provided in the form of design and construction of structures such as a wall surrounding premises. The wall can have barbed wire on top which restricts the entry of unauthorized people. Another form of security can exist in the form of hiring security guards who are standby and watch over premises ensuring that it stays safe and secure. Security guards can also be complemented with security dogs trained to ensure safety. Safety products include the use of metal detectors which are used to detect the presence of firearms or other weapons. Security cameras, sensors, automatic locks are also examples of security products. Lastly is the provision of safety through insurance. This is usually applied in business and protects them from accidents. These are all products and services associated with safety and security. They are usually purchased to create safe and secure environments. They are associated with different forms of purchasing (Dubitsky, and Snopkova, 2016).
Status is a term that is associated with the quality of life. The aspect of quality of life measures the level of happiness. Quality of life is a great component of decision making associated with finances. It observes life satisfaction. Status is associated with a high quality of status. It also involves the accumulation of wealth and having excess. A high social status is associated with having respect and competence and is usually accorded to people in the society. In most cases, social status is usually a factor of wealth. Wealthy people are considered to have a high social status. They are associated with hard work for which the rewards are a high level of financial wealth. Luxury products are the products that are mostly associated with status. Luxury products include expensive cars, expensive jewelry, expensive art and they confirm the social status of the people owning them. They also include services such as dining in expensive hotels and traveling the world. They are products and services whose change in prices does not change the amount demanded. They have little value other than social status. However, they can be considered as assets which could be sold to recover their values. Most luxury products are usually sold in auctions where potential buyers bid for them until a worthy financial person outbids the rest (Berger, 2017).