Premium
New Industrial Product Design and Evaluation Using Multiattribute Value Analysis
Author(s) -
Keeney Ralph L.,
Lilien Gary L.
Publication year - 1987
Publication title -
journal of product innovation management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.646
H-Index - 144
eISSN - 1540-5885
pISSN - 0737-6782
DOI - 10.1111/1540-5885.430185
Subject(s) - flexibility (engineering) , computer science , product (mathematics) , value (mathematics) , process (computing) , new product development , product design , risk analysis (engineering) , management science , operations research , industrial engineering , process management , marketing , business , economics , engineering , mathematics , management , machine learning , operating system , geometry
Increasingly, the design of successful new industrial products is related to careful market assessment. Traditionally, managers and researchers have studied their markets by examining a small number of product attributes that are common across a range of informed respondents. In many ways, these techniques fail to meet the challenges posed by today's often heterogeneous, highly competitive, fast moving industrial markets. Ralph Keeney and Gary Lilien introduce us to a technique they call multiattribute value analysis, both describing the procedure and describing a comprehensive example. Their approach introduces considerable flexibility to the process of market assessment. Technically, it permits the evaluation of many more attributes, value tradeoffs, and synergies among attributes than do more traditional methods. In addition, it permits nonlinear evaluation functions that may be idiosyncratic to the individual. Practically, their approach, illustrated with a detailed case application, is shown to have significant potential for aiding product design decisions.