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Estimation of product success potential using product value

Author

Listed:
  • Jing Guo
  • Qingjin Peng
  • Liyan Zhang
  • Runhua Tan
  • Jianyu Zhang

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.

Suggested Citation

  • Jing Guo & Qingjin Peng & Liyan Zhang & Runhua Tan & Jianyu Zhang, 2021. "Estimation of product success potential using product value," International Journal of Production Research, Taylor & Francis Journals, vol. 59(18), pages 5609-5625, September.
    • Handle: RePEc:taf:tprsxx:v:59:y:2021:i:18:p:5609-5625
    DOI: 10.1080/00207543.2020.1788733
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    Cited by:

    1. An-Jin Shie & En-Min Xu & Zhen-Zhen Ye & Qing-Feng Meng & Yenchun Jim Wu, 2024. "Sustainable Innovative Design of Elderly-Friendly Smart Medical Products: An Integrated Model," Sustainability, MDPI, vol. 16(17), pages 1-33, September.
    2. Peng Shao & Runhua Tan & Qingjin Peng & Wendan Yang & Fang Liu, 2023. "An Integrated Method to Acquire Technological Evolution Potential to Stimulate Innovative Product Design," Mathematics, MDPI, vol. 11(3), pages 1-24, January.
    3. Dong, Ming & Mao, Shunjie & Li, Shan, 2023. "Supplier's technology upgrading investment strategy considering product life cycle," International Journal of Production Economics, Elsevier, vol. 263(C).

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