Essay
Unit 12: M2
- Institution
- PEARSON (PEARSON)
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Comparing and selecting providersBenefits
When selecting an insurance or a service but do not know which one is the best, comparison
websites are there to help. These comparison websites are reliable to go on to find what you are
looking for as there is a range of products or vehicles to insure and compare which insurance is the
best for your case. Many customers who use comparison websites often find a good insurance
company for the cheapest deal and get a quote instantly.
The reason comparison websites are on the internet is not only because they are websites, but there
are many comparison websites to choose from and finding a product or service that is right for you is
faster and easier. Furthermore, the Internet allows a great deal of price transparency for consumers.
This means they can compare prices easily between many potential suppliers. The internet is well
known to get bargains and at some comparison sites customers are more able to cheaper prices
than other comparison by using a different technique when dealing with customers. For example, at
letsbuyit.com, customers can join together to lower in order to lower the price. This gives online
customers much greater bargaining power. Another example, at Priceline.co.uk consumers are
allowed to set their own prices, this allows them to freely choose whatever amount of money they
would want to spend on insurances without worrying about the cost. Similarly, ebay.co.uk allows
consumers to bid on a product which allows them to create a price for a product and see if anyone
makes a higher request, if they do the customer can bid again if they think they can get the product
with that price. This is a very competitive way of getting a product; however, people still get what
they want for a lower price than the original cost.
Bevan, John, Coupland-Smith, Helen, and Dransfield, Rob. BTEC Level 3 National Business, Book 1. Harlow, Essex, GBR:
Pearson Education, 2010. ProQuestebrary.Web.8 October 2015.Copyright © 2010.Pearson Education. All rights reserved
Limitations
With every site there will be limitations that can affect a customer to use a comparison site. For
example, if there are any criticisms the customer will have to look elsewhere to find a good
comparison site which may take longer and will lead to frustration due to inconvenience. Also, in
comparison sites you may find a lot of deals that it may be hard to find the right one for you which
can lead to confusion. Another problem which a customer may find when using a comparison site, is
that they might not find a certain type of product on their list that they are finding. This also can lead
to them leaving the site to find another site that does have their product on their list. After signing a
contract and paying monthly for an insurance you might find later there is a much cheaper insurance
that provides the same service. This would leave the customer no choice but to keep on paying
monthly until the contract ends and then find another cheap insurance. When browsing a
comparison website it may take time to load up, this may be because of the speed of the network
you are using, or because of the amount of people using the server at once. This could be time
consuming and deals might just finish in that amount of time, leaving the customer to find new deals
that are cheap. If you can’t get a cheap offer from as letsbuyit.com, ebay.co.uk and priceline.co.uk
you won’t get cheap insurance or other services from other websites. This could lead to customers
with less money in debt as they have to borrow money in order to pay an insurance company. Lastly,
if a customer is bidding on eBay they might bid more than what the original price is which could lead
to the customer owing the bank money with interest added on.
Evaluation
As an evaluation I don’t think the limitations can overweigh the benefits as there a lot more benefits
than limitations, plus the limitations are weak compared to the benefits. This makes Comparing and
selecting providers more reliable and a recommendation to those who need help buying a type of
product or selecting an insurance company. For example, if you have slow internet connection speed
you can use a Wi-Fi connection or use a PC from a friend or a family member who has a faster
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