Value Analysis
The process of achieving a balance between Function, Costs and Aesthetics of a product.
There are 3 aspects to value analysis:
•Function (How the product operates)
•Cost (The cost of the product)
•Aesthetics (How the product looks)
There are 3 aspects to value analysis:
•Function (How the product operates)
•Cost (The cost of the product)
•Aesthetics (How the product looks)
Value Analysis Triangle
Cost
Depends on the market in which it is being sold and the nature of the product.
Most businesses aim to keep costs to a minimum.
E.g. Primark
Function
Usually function is taken for granted, However, at the R&D (Research and Development) stage it is of paramount importance (If it does not work, it is useless).
E.g. Sellotape, Washing Machines
Aesthetics
This is where looks of the product are important.
E.g. Fashion items,
Depends on the market in which it is being sold and the nature of the product.
Most businesses aim to keep costs to a minimum.
E.g. Primark
Function
Usually function is taken for granted, However, at the R&D (Research and Development) stage it is of paramount importance (If it does not work, it is useless).
E.g. Sellotape, Washing Machines
Aesthetics
This is where looks of the product are important.
E.g. Fashion items,