problems with comparison shopping

[Martha]

In the topic about mattresses, TH mentioned that these industries obscure their products: cell phones, healthcare and mattresses. This makes it very difficult to comparison shop. I would add some financial products to this list--like annuities.

Another problem in comparison shopping is when there are no agreed upon standards. It doesn't have to be government standards--they could be industry standards as well. For example, sleeping bags are always advertised as good down to a certain temperature. I think that is all BS. I have used sleeping bags rated at 0 degrees and 30 degrees and the 30 degree bag was warmer. I understand their are no uniform standards in the industry to determine comfort at certain temperatures.

 

[razztazz]

It's collusion. Competition is only part of "business". There is also a lot of money, probably more, to be made keeping the public ignorant or confused. That way there's always a portion of busines they can get from people thinking they're buying one thing when they are really, even after all the prudent homework and necessary research, buying something else. In fact, that righ there *IS* that "Industry Standard" you were hoping for. And it was right under your nose all along.

If they keep insisting: "Let the buyer beware" What the F does that tell us about what the sellers are really up to?

Pay no attention to the man behind the curtain.

 

[saluki9]

Well, when it comes to annuities, I'd look at it like a car lease. Being in the finance biz, all of my friends come to me to ask about financial things. One of the most common questions is how to figure out auto leases.

Why look at annuities like an auto lease? My reasoning is that if you stop looking at them like black bozes and instead decompose them into their inputs. For example, with an annuity (fixed) you only have to know the contributions or dump in, the terminal, and you can computer the IRR. Of course you have to take into effect contractual limitations and financial ratings, but that isn't too hard.

Pretty much every consumer product is slightly obscured, that's what advertising is about

 

[wabmester]

Don't forget all the wonderful labels. Organic! Free Range! I heard that the FTC finally got around to standardizing some of these labels. I think "free range chickens" are required to have the door on the chicken coop left open part of the day.

 

[saluki9]

Lets not even start with diet drugs and "supplements"

 

[Martha]

Lets not even start with diet drugs and "supplements"

I read in one of my legal journals that the FTC is working hard on trying to stop false claims that various diet methods and supplements will help someone lose weight. The article said something like 120 suits had been brought in the last 10 years by the FTC. Well that is only 12 a year on the average. False weight loss claims are promoted everywhere. Twelve suits a year won't make a dent. The FTC also said it was trying to get television and magazines to assist by not running this kind of advertising. Doesn't look like it is working too well.

 

[TromboneAl]

I agree -- it's a jungle out there.

 

[wabmester]

Make and grow your own. It's the only way to really know what you're getting (although you still might not like it).

 

[laurence]

I read in one of my legal journals that the FTC is working hard on trying to stop false claims that various diet methods and supplements will help someone lose weight. The article said something like 120 suits had been brought in the last 10 years by the FTC. Well that is only 12 a year on the average. False weight loss claims are promoted everywhere. Twelve suits a year won't make a dent. The FTC also said it was trying to get television and magazines to assist by not running this kind of advertising. Doesn't look like it is working too well.

Ugh, but who believes these claims? Doesn't anyone realize that if it were true, it would be the headline on their morning paper? "Fat A** lazy people look like supermodels after one month on Super-Pill, film at 11!" This has got to be one of those phsychological enabling relationship things, the commercials are always full of statements like, "It's may not be your fault! Eat all you want! " -it's what people want to hear.

 

[cute fuzzy bunny]

"Fresh Chicken" can be kept at 28 degrees.

Come on, I know theres an engineer or two that can help find the problem with that

 

[Martha]

Ugh, but who believes these claims? Doesn't anyone realize that if it were true, it would be the headline on their morning paper? "Fat A** lazy people look like supermodels after one month on Super-Pill, film at 11!" This has got to be one of those phsychological enabling relationship things, the commercials are always full of statements like, "It's may not be your fault! Eat all you want! " -it's what people want to hear.

Yah, I always considered this kind of advertising a joke. But it must work as there is so much of it. This is one circumstance though where I am inclined to say let the buyer beware.

 

[TromboneAl]

I've learned that colleges also play games with hidden fees. For example, at Wash U, the meal plan is mandatory, and you pay $3,700 for $2,700 worth of food.

In other words, tuition is $1,000 more than you thought it was.

Then there's a $250 enrollment deposit that isn't returned to you until you graduate.

 

[Nords]

"Fresh Chicken" can be kept at 28 degrees.

Come on, I know theres an engineer or two that can help find the problem with that

Fahrenheit, Celsius, or Kelvin?

You don't even want to know how long the military stores "meat" in freezers.

 

[cute fuzzy bunny]

Degrees F.

Where I grew up, frozen meant anything under 32F...

Lady that lives across the st from my dad in sun city stores meat in her freezer until she cant tell what it was anymore. She told him she just cooks it covered in a sauce and nobody knows. He's not eating at her house anymore.