Axioms of value

Reber, Michael and Duffy, Alexander and Hay, Laura (2019) Axioms of value. In: 22nd International Conference on Engineering Design, 2019-08-05 - 2019-08-08, Delft University of Technology.

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The creation and perception of value is central to the product development process and organisational success. Traditional interpretations of value in a design context have focused on product worth and cost from a manufacturer's perspective (Miles, 1966). However, due to issues such as increased globalisation, lack of sustainability, and the high rate of technological development, these early interpretations have shifted towards a broader conception of value that includes the customer's perspective in terms of benefit, need, quality, utility, and value of services.