1) describe the good or service that you bought. what was it? was it a good or service? was it a need or want?
2) list other products that you were considering spending your money on, or mention items that you could have bought for about the same price. then, circle the item that is your best alternative (second choice).
3) list the costs of choosing the good or service that you purchased. include the retail price, opportunity cost, and trade-offs.
4) then, list the benefits of choosing the good or service. include rewards from this purchase. did advertising or peer pressure play a role in forming your rewards? for example, did you think that buying the product would make you fit in better with friends or turn you into a celebrity?
5) describe why the benefits outweighed the costs. which rewards were most important in encouraging you to buy the product? why did you think that these incentives would make you better off?
6) finally, will your purchase affect any future decisions? for example, were you so happy with your purchase that you would buy the same brand again? or were you so disappointed with the price of your purchase that you would comparative shop next time?