From product centered design to value centered design: understanding the value-system

Product design has focused on different parameters through history- design for usability, design for manufacturing, design for assembly etc. Today, as the products get bundled with service, it is important to interconnect product, service and business model design to create synergy effect and offer more value for the customer for less eford.

Value and understanding the value-system needs to be in the focus of business strategy. Value can be created, exchanged and perceived. It can be tangible (physical products, money) or intangible (information, experience, relationships, service). Creating value is usually a co-creation process, where customers, suppliers and manufacturers all have their part.

This paper describes a paradigm shift towards value-based thinking and proposes a new methodology for understanding and analysing the value system.