Product Comparison Checklist

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Product Comparison Checklist:

•  Make sure you fully understand and therefore can definitely formulate a conception of what kind of product or service you are searching for, examples of conceptions:
  • An affordable easy-to-use mobile phone for your grandmother;
  • A business class lodging for two people;
  • A family car to drive on weekends;
  • A long-term deposit offering from a local credit institution, etc;
• State for yourself what results you want to gain from acquiring this kind of good or service, some examples of objectives you may set:
  • Making a useful present to your beloved grandmother, which will help you to maintain a connection with the elder relative;
  • Getting a comfortable, reliable, economic car to go for weekend trips and shopping with your wife and kids;
  • Investing some amount of spare money into a reliable bank to obtain a stable income to support your family budget;
• Create a list of key success metrics and features which you can clearly appraise or identify in the product or service to make a decision on buying it, examples:
  • “Availability of black-and-white display” in a low-cost mobile phone for granny;
  • “Fuel consumption per 25 Miles” for a family car;
  • “Annual deposit rate on return” for an investment;
  • “Availability of free daily catering” for a business class lodging;
• Create a list of intangible key features you would highly appreciate in a product or service you are searching for, examples:
  • Value and image of a product’s brand;
  • Product’s place of production;
  • Product-related warranty and support services provided;
  • Politeness and attentiveness of Sales and Support personnel;
• Prepare a list of major comparable items and features that are valued in this type of product or service, including the key features you are interested in, for example:
  • For a family car these features could be:
    • Fuel consumption per 25 Miles;
    • Number of seats;
    • Trunk volume;
    • Gas tank size;
    • Maintenance costs over time;
    • Good airconditioning (any other comfort features, ergonomics, etc);
    • Color: Blue or Silver;
    • Price;
    • Respected Brand;
• Prioritize these items to put the most valued and important features at the top of your list;
• Take a paper (or software) and create a table where rows are for the compared products, and columns are for success features. Record success features into the entitlements of columns;
• Call the local vendors, study thematic journals, and use the Internet search to create a list of several competing products fitting your conception and requirements;
• List these competing products in your table (in rows), learn their announced capabilities, ...

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