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Wize up on what to buy (Part 1)

Posted on Monday, Apr 23rd 2007

Following my conversation with TheFind, a lifestyle shopping service, here, we explore Wize, a product research engine. In this discussion, I am speaking with Tom Patterson, CEO.

SM: Please describe your business value proposition and your product.

TP: Wize is focused on helping people decide what to buy. We do this in several ways.

First, we use all the user and expert reviews we can find on the web to give each product a 1 – 100 score, or Wize Rank. Wize Rank is the quickest, easiest way we know to figure out which products are best, and to filter out the ones that aren’t worth considering. Since it’s based on an algorithm, Wize Ranks are completely impartial and can’t be manipulated.

The next thing we do is collect other information related to product
research – specifications, stores, prices, and “buzz” (akin to popularity)
and present them to customers as simply and clearly as possible.

SM: What is your target customer? (Please provide a good segmentation perspective)

TP: The ideal Wize customer is an experienced online shopper who is comfortable
with the internet. He or she tends to be pressed for time, and favors good,
practical products over the hottest new thing. Our target customer is
concerned with giving great gifts.

What we’ve found in our research is that our customers are people who want
to be empowered to make their own decisions, not people who want to be told
what to buy. As a result, the Wize experience – and the one that we’re
continually working towards – is focused on giving people access to the
information they need to make smart decisions.

(to be continued)

[Part 1]
[Part 2]
[Part 3]
[Part 4]
[Product Review]

This segment is part 1 in the series : Wize up on what to buy
1 2 3 4

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ViewScore.com is doing the same thing and i find them much more accurate then wize positivenegative classification

zack Monday, April 23, 2007 at 12:08 PM PT

I will take a look later, Zack, when I return to shopping. Busy with the Travel series at the moment. Sramana

Sramana Mitra Monday, April 23, 2007 at 12:45 PM PT

[...] Part 1, I introduced you to Wize, a 6-month old product research engine. Product Research has been around [...]

Sramana Mitra on Strategy » Blog Archive » Wize up on what to buy (Part 2) Tuesday, April 24, 2007 at 8:45 AM PT

[...] [Part 1] [Part 2] [...]

Sramana Mitra on Strategy » Blog Archive » Wize up on what to buy (Part 3) Wednesday, April 25, 2007 at 9:07 AM PT

[...] [Part 1] [Part 2] [Part 3] [Part 4] [Product Review] [...]

Sramana Mitra on Strategy » Blog Archive » Wize up on what to buy (Part 4) Thursday, April 26, 2007 at 8:42 AM PT

[...] have reviewed the business story of Wize.com, now let’s take a look at their product from my Web 3.0 framework [...]

Sramana Mitra on Strategy » Blog Archive » Wize Needs Integrated User Experience Friday, April 27, 2007 at 7:37 AM PT

[...] Wize Up On What To Buy [...]

Web 3.0 and Verticalization - Sramana Mitra on Strategy Thursday, September 6, 2007 at 6:46 AM PT

[...] Real Estate, Girls Like Stardoll, LinkedIn Should Roll-Up Jobs, Zillow, TheFind, WizeWe profiled Tom Patterson, CEO of Wize.com last year. The site compiles both expert and user reviews and inserts them into a scoring algorithm [...]

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