ABSTRACT
This chapter describes that an efficient application of value-engineering/value-analysis techniques leads to both cost and value advantages that enable firms to either reduce price or charge a premium. It focuses on the technological and management factors that influence design. The chapter examines the contribution of marketing to new-product design and development before reporting upon the attitudes and practices of survey companies towards these factors. A number of management factors tend to influence the design of new products. Among them are: quality circles, timing, and leadership style. Timing refers to the design, development, and launch of the right product at the right time in the right market. A survey by the National Industrial Conference Board in the USA in 1964 revealed that 'poor timing' was the most frequently cited cause of new-product failure - a finding confirmed by Hopkins.
