New industrial product design and evaluation using multiattribute value analysis

Ralph L. Keeney, Gary L. Lilien

Research output: Contribution to journalArticlepeer-review

40 Scopus citations

Abstract

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.

Original languageEnglish (US)
Pages (from-to)185-198
Number of pages14
JournalThe Journal of Product Innovation Management
Volume4
Issue number3
DOIs
StatePublished - Sep 1987

All Science Journal Classification (ASJC) codes

  • Strategy and Management
  • Management of Technology and Innovation

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