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Evaluation & the Consumer 4
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Evaluation & the Consumer 4

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Student Work


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  • 1. Evaluation and the consumer
    By Jenny*vista* and Dickson
  • 2. Value for money
    “Value for money (VfM) is about obtaining the maximum benefit with the resources available”
    Basically, value for money is getting the most out of your money. Using the resources to their full extent.
  • 3. Assessing a product for value for money
    Maximum price is generally established according to the demand of the product, the higher the demand, the higher the price.
    Minimum price is according to the production price.
  • 4. Evaluating a product for a value for money
    Consumer criteria:
    -before purchase (advertising, manufacturer’s specification, list price, product image, evaluation by experts.)
    -purchase (aesthetics, performance, build quality, purchase price.)
    Initial use (actual performance, safety, ease of use.)
    Long-term use (reliability, ease of maintenance, durability, running costs.)
  • 5. Weightings
    Value judgement, depends on the consumer’s individual opinion of the product
    It also depends on what the product is supposed to do and how well it meets its specifications
    Example of value judgement:
  • 6. Relevance of quality
    This gives the consumer reassurance of what they are buying by giving them other people’s views on the product, by carrying out tests and surveys on the product, meaning that the consumer does not have to carry out their own research.
    ISO is one of the most recognised consumer associations worldwide
  • 7. The media
    The media only advertise the products which have been passed through quality control and therefore have quality assurance.
    Results of tests can be posted in different media, therefore helping the consumer make a decision based upon these results whether the product is worth buying.