Marketing aspect in the 'Value Engineering' in the new products development of machine-building enterprises

Abstract

The dynamism of the engineering products markets is determined by a high level of competition, frequent changes in technology. One of the key problems of Russian machine-building enterprises is the long term of development and putting the product into the production which leads to the fact that 'yesterday's product is launched on tomorrow's markets'. So, we see an arising need for a fundamental change in the product development process by including future consumers in it and ensuring verification of the results at each stage, from the formation of the technical task to the testing of the finished product. Such an approach will allow balancing consumer value and product characteristics, determining the significance and cost of functions, and substantiating a fair price. These problems are solved by the method of value engineering of a product. Application of this method requires reliable information on consumer characteristics, conditions and process of product operation, parameters of similar products. The tools of classical marketing research and new products engineering development should be combined into one system. As a result, the use of value engineering reduces the time required to bring a new product to the market and increases the competitiveness of the product. © Published under licence by IOP Publishing Ltd.