A-Z Popular Blog Top Search »
Product Marketing
 
Related Guides
Advertising
Branding
Competition
Metrics
Product Strategy
Branding
Business Models
Market Fit
top   »  marketing   »  product marketing   »  product development   »  figure of merit

What is a Figure Of Merit?

 , updated on
A figure of merit is a particular metric that is commonly used to judge the value of a product or service. For example, fuel efficiency ratings such as Miles Per Gallon (MPG) are commonly used to compare cars. A figure of merit allows customers to qualitatively compare products and services. As a result, it tends to lead to intense competition to improve products and service.
Overview: Figure Of Merit
Type
Product Strategy
Definition
A number that is commonly used to compare a product or service.
Examples
Battery life in hours for mobile devices.
Bandwidth of an internet connection.
Clock rate of a CPU
Calories in food.
Related Concepts
Business Metrics
Next: Quality Metrics

Product Marketing

This is the complete list of articles we have written about product marketing.
Branding
Customer Experience
Differentiation
Distribution
Market Fit
Market Research
Niche Products
Product Benefits
Product Category
Product Culture
Product Depth
Product Development
Product Extension
Product Line
Product Management
Product Market
Product Metrics
Product Planning
Product SWOT
Product Variety
More ...
If you enjoyed this page, please consider bookmarking Simplicable.
 
Cite »

Product Strategy

A checklist for developing a product strategy.

Pricing Strategy

An overview of common pricing strategies.

Product Value

A definition of product value with examples.

Premiumisation

The common types of premiumisation.

Product Demand

The basic types of product demand.

Marketing Myopia

A definition of marketing myopia with examples.

Product Extension

The definition of product extension with examples.

Product Market

An overview of product markets with examples.

Product Culture

An overview of product culture with examples.

Product Marketing

A guide to product marketing.

Product Features Examples

A list of common product features.

Product Planning

An overview of product planning with examples.

Go-To-Market Strategy

An overview of go-to-market strategy with examples.

Product Metrics

A list of common product metrics.

Marketing

A list of key marketing strategies.

Branding Guide

An overview of 20+ common branding techniques.

Marketing Metrics

A list of common ways to measure marketing results.

Product Positioning

A definition of product positioning with examples.

Brand Storytelling

Common types of brand storytelling.

Cross-Selling

The common types of cross-selling.

Marketing Campaign

The common types of marketing campaign.

Marketing Automation

The common types of marketing automation.

Target Marketing

The common types of target marketing.

Trending

The most popular articles on Simplicable in the past day.

New Articles

Recent posts or updates on Simplicable.
Site Map
Education
Governance
Government
History
Humans
Industries
Influencing
Information
Information Technology
Infrastructure
Life
Management
Marketing
Materials
Motivation
Nature
Organizational Culture
Philosophy
Problem Solving
Productivity
Quality
Risk
Sales
Science
More ...
© 2010-2023 Simplicable. All Rights Reserved. Reproduction of materials found on this site, in any form, without explicit permission is prohibited.

View credits & copyrights or citation information for this page.

Home About     Privacy Policy     Cookies Terms of Use     Contact Us Search


Cookies help us deliver our services. You have choices regarding these cookies. Please visit our privacy policy, cookie policy and consent tool to learn more.


Copyright 2002-2024 Simplicable. All rights reserved. This material may not be published, broadcast, rewritten, redistributed or translated. Report violations here.