Value for Money?

["Mark Harrison" <Mark.Harrison@xxxxxxx>]

Taking out the personalities, the question of "what is value for
money=
" is quite an interesting question.

As I see it, there are two schools of thought:

1: That "value for money" is and objective assesment, created by
=
determining the "value" of an item, compared to its price, by
way=
of reference to the items in a similar price range, and above and below. A=
s such, the "VFM" of an item, is one input into the purchasing
de=
cision, along with "how much am I prepared to pay"... and a
typic=
al purchase process might work:

1a: Decide how much I'm prepared to pay for xxx
1b: Which out which item, at or around that price is the best "value
f=
or money"
1c: Buy it


2: That "value for money" is a subjective assesment, with each
po=
tential purchaser applying his/her own weighted criteria.


Now, without reference to HA or hi-fi, lets apply these two models to the
p=
urchase process of, say, a car, by a 31 year old married male, with a
small=
baby, and a budget of around =A320-25k.

1a: The purchaser has set his budget
1b: The purchaser looks at car magazines to determine what is avaialabe in
=
the price range.
... because "VFM" is an objective decision, the car magazines
wil=
l agree on which is the best VFM
... this is based on a standard weighting of speed, aerodynamics, build
qua=
lity, boot size, comfort, etc....
... let's for the sake of argument, say that it's a BMW 3-series
1c: The purchaser buys a BMW

2: The purchaser thinks "heh - car's aren't commodities - what do I
wa=
nt." The purchaser realises that he, and his wife, are British
eccentr=
ics, who want ludicrous acceleration, and a real "old-fashioned
sports=
car."
... The purchaser buys a Morgan

Feels like Number 2 is probably the algorithm that this purchaser follows
:=
-)

M.

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