Management marketing value engineering and firm performance

Abstract

Value engineering is to design new products or services at a higher level of performance on the market from the start of the project, from the amount of customer value. Product/service is analyzed in terms of features/characteristics, which corresponds to a cost, the sum of all cost functions/features as the total production cost, which should be minimal and the economic effect of performance and strive for customer perceived maximum. In doing so, companies can prosper by increasing the volume of profit.