Estimation of product success potential using product value

Jing Guo, Qingjin Peng, Liyan Zhang, Runhua Tan and Jianyu Zhang

International Journal of Production Research, 2021, vol. 59, issue 18, 5609-5625

Abstract: New product development (NPD) provides an opportunity for companies in the market, but there is a risk of failure if the product cannot satisfy customers. It is therefore important to estimate the success potential of a new product during NPD. According to the product value used in Value Engineering (VE) and product ideality in TRIZ (a Russian acronym for Theory of Inventive Problem Solving), this paper proposes a new structure of product value for NPD. Key factors that affect product value are identified. Methods are proposed to measure changes in the product value comparing a new product with existing products. The analysis of changes in the product value is a way to estimate new products’ success potential, which helps companies make decisions on whether a design should go for production. Four gas cooktop products are used to verify the feasibility and effectiveness of the proposed method.

Date: 2021
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Citations: View citations in EconPapers (4)

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DOI: 10.1080/00207543.2020.1788733

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