ABSTRACT
Jim Womack dened value entirely from the customer’s perspective: “e right product to the right customer at the right price and at the right time.” A product is anything a company delivers to customers: tangible products, so¨ware, and services all must deliver value. ey all go through a product development process (PDP) that transforms them from an idea into something that a customer can purchase and use, as well as operational processes to produce and deliver them. In theory, if a product delivers su£cient customer value relative to its competitors, it will be a successful product.
