- Engineering Systems Division.
- Downen, Troy Douglas
- Massachusetts Institute of Technology. Engineering Systems Division. Massachusetts Institute of Technology. Engineering
Systems Division. Deborah J. Nightingale.
- 464 p.
- 29389810 bytes
- 29452798 bytes
- Massachusetts Institute of Technology
- M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See
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- (cont.) market. The method is also used to extract
quantitative evidence indicating the existence of
enterprise-related attributes for consumer value in products.
Marking the first independent review of the loss function-based
value method, this study finds that the Relative Value Index is
superior to existing value methods at retaining simplicity of
implementation and minimal data requirements while maintaining a
firm grounding in economics and consumer choice theory. The method
is shown to be useful for estimation, though robustness of the
results is not certain when used in this manner, and may also be
extended to the analysis of large-scale engineering systems and
their value to society.
- The early phase of product development, sometimes
referred to as the fuzzy front-end, is critical to the success of
enterprises and plays a dominant role in the formation and
execution of corporate strategy. In addition, it has been argued
that the concept of consumer value is central to effective product
development. In this research, a new product value assessment
method is established for the fuzzy front-end of business airplane
development. Existing value assessment techniques used in the
business aviation industry are found to poorly balance the
theoretical rigor of the method with the ease of use and accuracy
required by practitioners in early product development. A
recently-developed multi-attribute value method, based on Taguchi's
loss function approach to quality assessment, is modified and
extended in this study and applied for the first time to the domain
of business aviation. A comprehensive 40-year historical product
database is developed for use in testing and evaluating the method,
referred to as the Relative Value Index (RVI), enabling the scope
of value method appraisal to be expanded to an industry-wide
examination over a significant time span. A top-down approach is
developed for calibrating value models to empirical market data via
attribute weighting factors. Sensitivity analyses and Monte Carlo
simulations are developed to test the RVI method's robustness and
the reliability of the results, enabling a rigorous definition of
the determinants of product competition in this industry. This
methodology is a useful advance in the methods to extract objective
findings from historical industry market activities. The RVI
approach is used to develop evidence in support of a ratio theory
of product price and value differentiation in the business
- by Troy D. Downen.
- Thesis (Ph. D.)--Massachusetts Institute of
Technology, Engineering Systems Division, 2005.
- Includes bibliographical references (p.
- M.I.T. theses are protected by copyright. They may be
viewed from this source for any purpose, but reproduction or
distribution in any format is prohibited without written
permission. See provided URL for inquiries about
- Instructions in case access is denied
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