Value of a Product: A Definition
Value of a product reflects the owner(s)'/buyer(s)' desire to retain or obtain a product. Individual's level of desire to retain or obtain a product depends on how much the product details and/or its performance agree with the value system of the individual. To an individual, therefor...
| Authors: | ; |
|---|---|
| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
| Journals Online & Print: | Drawer...
|
| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Published: |
Proquest
1999
|
| In: |
International journal of value-based management
Year: 1999, Volume: 12, Issue: 2, Pages: 181-191 |
| Further subjects: | B
criteria of a product
B utility ratings B value concept B marginal value |
| Online Access: |
Volltext (lizenzpflichtig) |
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| 520 | |a Value of a product reflects the owner(s)'/buyer(s)' desire to retain or obtain a product. Individual's level of desire to retain or obtain a product depends on how much the product details and/or its performance agree with the value system of the individual. To an individual, therefore, value of a product includes cost and a subjective part associated with cost. Value of a product can be expressed in units of currency if the subjective part of it is assessed in units of currency. This paper aims to propose a definition of value of a product and develop a method to assess it in units of a currency. To test the methodology in practice, experiments are conducted and the values of two of the elements of the external envelope of residential housing projects are determined. | ||
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