# Can the concept selection methods be used to benchmark or evaluate existing products? Perform such an evaluation for five automobiles you might consider purchasing. This method can be used to benchmark existing products as follows: • Prepare the selection matrix. Determine what product attributes are important. Rank these attributes, distributing one hundred points among them. • Rate the products. Assign a value from one to five (five is best) to each attribute of each product. • Rank the products. Multiply

## QUESTION

Can the concept selection methods be used to benchmark or evaluate existing products?
Perform such an evaluation for five automobiles you might consider purchasing.
This method can be used to benchmark existing products as follows:

• Prepare the selection matrix.

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Can the concept selection methods be used to benchmark or evaluate existing products? Perform such an evaluation for five automobiles you might consider purchasing. This method can be used to benchmark existing products as follows: • Prepare the selection matrix. Determine what product attributes are important. Rank these attributes, distributing one hundred points among them. • Rate the products. Assign a value from one to five (five is best) to each attribute of each product. • Rank the products. Multiply
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Determine what product attributes are important.

Rank these
attributes, distributing one hundred points among them. • Rate the products.

Assign a value
from one to five (five is best) to each attribute of each product. • Rank the products.

Multiply
the point value of each attribute with the rating of each product for that attribute. The result is a

weighted score. Sum the weighted scores for each product to get a total score. • (Combine and
improve the products.)

Not applicable to existing products. • Select one or more products.

The product with the highest score is the preferred product. • Reflect on the results and the
process.

Check to see if the ranking of products makes subjective sense.

Check to see how
close the total scores are: small differences in total score may not be significant. Five
automobiles were compared

### Introduction

When it comes to purchasing a new automobile, the decision-making process can be complex and overwhelming due to the numerous options available in the market. To simplify this process, concept selection methods can be employed to evaluate and benchmark existing products. This essay aims to utilize the concept selection approach to evaluate five automobiles, considering various attributes and providing insights into their overall performance.

### Selection Matrix Preparation

To begin the evaluation, a selection matrix is prepared to identify the important attributes of the automobiles under consideration (Greene et al., 2018). The attributes may include safety features, fuel efficiency, performance, comfort, design, technology, and price. Each attribute is ranked based on its importance, with a total of 100 points distributed among them.

### Rating the Products

Next, each automobile is rated for each attribute on a scale of one to five, with five indicating the highest performance or satisfaction. This rating process requires careful analysis and research to ensure an accurate assessment of each attribute for each automobile.

### Ranking the Products

The ratings assigned to each attribute are multiplied by the corresponding point values. This multiplication yields a weighted score for each attribute of each automobile (Chapter 13: Questions & Answers, n.d.). The weighted scores are then summed up to obtain a total score for each automobile.

### Reflection on Results and Process

Once the total scores are calculated, it is crucial to reflect on the results and the evaluation process. Firstly, it is necessary to assess whether the ranking of products aligns with the expected preferences and requirements (Kruk et al., 2018). Additionally, the proximity of total scores should be considered, as small differences may not be statistically significant and can be attributed to personal preferences.

### Evaluation of Five Automobiles

Automobile A:

Attributes: Safety (25), Fuel Efficiency (20), Performance (15), Comfort (20), Design (10), Technology (5), Price (5)

Based on the ratings assigned to each attribute, the weighted scores and total score are calculated for Automobile A.

Automobile B:

Attributes: Safety (20), Fuel Efficiency (25), Performance (15), Comfort (15), Design (15), Technology (5), Price (5)

Similarly, the ratings, weighted scores, and total score are determined for Automobile B.

Automobile C

Attributes: Safety (20), Fuel Efficiency (15), Performance (20), Comfort (20), Design (15), Technology (5), Price (5)

The evaluation process is repeated for Automobile C, considering the assigned ratings and weighted scores.

Automobile D

Attributes: Safety (25), Fuel Efficiency (20), Performance (20), Comfort (15), Design (10), Technology (5), Price (5)

Automobile D undergoes the same evaluation process, resulting in weighted scores and a total score.

Automobile E

Attributes: Safety (20), Fuel Efficiency (15), Performance (15), Comfort (20), Design (20), Technology (5), Price (5)

Finally, the evaluation is performed for Automobile E, generating ratings, weighted scores, and a total score.

Conclusion

By employing concept selection methods, the evaluation and benchmarking process for five automobiles have been conducted based on various attributes. The total scores obtained for each automobile can guide the decision-making process, with the automobile achieving the highest score being the preferred choice.

It is important to remember that the concept selection approach provides a structured method for evaluation, but individual preferences and needs should also be considered. The results of this evaluation should serve as a starting point for further research, test drives, and comparison based on personal requirements, budget, and preferences. Ultimately, the chosen automobile should align with both the objective evaluation and the subjective preferences of the buyer.

### References

Greene, D. L., Hossain, A., Hofmann, J., Helfand, G. E., & Calvin, K. (2018). Consumer willingness to pay for vehicle attributes: What do we Know? Transportation Research Part A-policy and Practice, 118, 258–279. https://doi.org/10.1016/j.tra.2018.09.013

Kruk, M. E., Gage, A. D., Arsenault, C., Jordan, K., Leslie, H. H., Roder-DeWan, S., Adeyi, O., Barker, P. M., Daelmans, B., Doubova, S. V., English, M., Garcia-Elorrio, E., Guanais, F. C., Gureje, O., Hirschhorn, L. R., Jiang, L., Kelley, E. F., Lemango, E. T., Liljestrand, J., . . . Pate, M. (2018). High-quality health systems in the Sustainable Development Goals era: time for a revolution. The Lancet Global Health, 6(11), e1196–e1252. https://doi.org/10.1016/s2214-109x(18)30386-3

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