evaluation & the consumer 5

INES CHANELAINE LUI

SUNMIN LEE

EVALUATION AND THE CONSUMER

#1. DEFINE VALUE FOR MONEY.

Value for Money

The relationship between the worth of the product and the amount of cash spent on it.

#2. COMPARE PRICE WITH VALUE WHEN

ASSESSING A PRODUCT FOR VALUE FOR MONEY.

If price is too high, there may be lack of consumers willing to buy the product

If the price is too low, consumers may think it is too cheap to have much value.

Demand for a product from the public establishes the maximum price

Costs of production determines the minimum price

However, price may be affected by competitors (ex. competitive pricing) or the general perceived value of the product

#3. Explain how consumers apply criteria to evaluate a product for value for money, referring to before purchse, purchase, initial use, and long term use.

Consumers apply a criteria to evaluate products.Before purchase, they are most likely to judge a

product by: Advertising and Product Image (packaging,

colour etc) Manufacturer’s specification List price Evaluation by experts and consumer groups

When using the product they judge the product on:

Actual performance Safety and ease of use

When using the product in the long run, they judge the product on:

Reliability Ease of maintenance Durability Running costs

Example; Cleaning BrushBefore purchase: •colour, material etcInitial use: •how well the brush cleans objectsLong Term Use:•How sturdy the bristles are•Strength of handle

#4. Discuss how the criteria in #3 are assigned different weightings depending on the design context

Discuss how the criteria in point 3 are assigned different weightings depending on the design context.

Consumers and designers have slightly different values of a product.Consumers value: Utility Security Availability Rarity AestheticsDesigners Value: Function Reliability Ease of maintenanceValue judgements also depend according to the Individual The time/era

Value judgement Vary according to each individual

Designers may value Function ease of use stability of productCustomers may value the Utility Security Availability rarity aesthetics

While customers may like to purchase product based on both short-term and long-term values, designers mainly consider its function over its form (unless the product is designed to be looked at; e.g. art) for the benefit of the customer

#5. Explain the relevance of quality assurance to consumer associations

for product evaluation

Quality assurance Consumers are not required to carry out research and tests

on the products that they buy If a product fails to meet certain standards, consumers have a

means of redressConsumer associations

These are independent organizations; they are the ones who carry out the tests on behalf of the consumers

They set what guidelines a product should meet They make comparisons against the products in a similar

market and evaluate the productsThe two are relevant because quality assurance is

carried out by the consumer associations

# 6.The role of consumer associations for product evaluation

CARRY OUT EXPERIMENTS ON PRODUCTS TO SEE IF MANUFACTURERS’ CLAIMS ARE

JUSTIFIED.

PROVIDE PUBLISHED DATA FOR CONSUMERS.

COMPARE SIMILAR PRODUCTS WITHIN A TARGET MARKET AND RECOMMEND THE BEST

VALUE-FOR-MONEY PRODUCTS.

Consumer associations

planning holidayProvide advice on how to choose products

Greener lifestyle

Receive complaintsConsumer guides

Promote ethnical trades

#7.Explain the contribution of the media and education to product

evaluation

Consumer and lifestyle programme to product evaluation.

Consumer and lifestyle programmes on television.

Weekend sections of newspapers and consumer journals.

Focused on new products.Curriculum development and design

education in schools.

evaluation & the consumer 5

Education