Value Ratings: Consumer goods

Suppose you are in the market for consumer goods.

Let’s say it’s a new car. Several considerations matter to you, such as:

  • Price
  • Warranty
  • Fuel economy
  • Safety
  • Ride quality

The Challenge

You know that some considerations are more important than others are, but saying precisely how much more is difficult to do. An online rating services has declared that one particular car is the “best value” — but you have no idea how heavily they weight considerations that are of little relevance or importance to you. There is something peculiar about such declarations, because they seem to suggest that the best fit for one is the best fit for all. You think there must be a better way.

The Solution

After taking the preference survey, your Preference Profile reveals exactly how important each consideration is to you. When combined with actual performance data, you obtain tailored Value Ratings that display how well each model performs in the areas that matter most to you. Your Value Ratings offer more than basic rankings. For example, they tell you if there is one or two outstanding models, or perhaps if all the choices cluster together in a mediocre range.

Viewed through the your Preference Profile, this complex decision is made simpler

consumer goods

In this example, we see that Vehicles C and A are leading, but are not outstanding. The remaining vehicles have mediocre Value Ratings at best. We can compare the best Value Rating (72%) to the worst (22%) to understand that there is a more than three-fold difference between the available choices — despite no clearly superior performer. These are your results. Value Ratings for other people will differ because their underlying consumer goods preferences differ.

And when decisions are especially consequential, Value Ratings offer additional guidance: Evidence Strength.  Evidence Strength tells you when you are witnessing reliably high performance.

For a closer look at Preference Profiles applied to choosing automobiles, click here.