TOTAL COST OF CONSUMER (OWNERSHIP) (Refer to Figure 1):
- Identify Product
- Purchase marketing literature (printed, digital, media, etc.)
- Word-of-mouth (no costs)
- Discover at trade shows, fairs, etc.
- Evaluate Product
- Borrow, Rental costs
- Costs of actual trial-test of product - with return policy {1, 2, 7, 10, 11, 14, 15}
- Procure Product
- Purchase Software Licenses
- Operator's License Fees
- Purchase, lease, hire, rental costs
- Purchaser's Legal Costs (for highly litigious products) {1, 2, 3, 5, 6, 7, 8, 13, 14, 15}
- Install Product
- Cost of Transportation to Site
- Preliminary Inspection Costs
- Administration Costs - vendor management, asset management.
- Calibration costs {1, 2, 3, 4, 14, 15, 16}
- Installation and start-up test costs {1, 2, 4, 5, 10, 14, 15, 16}
- Learn Product
- Support literature: manuals, Internet, service dept., phone, etc.
- Training: classes, personnel, equipment, facilities {1, 2, 4, 5, 10, 14, 15,16}
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