Please use this identifier to cite or link to this item: http://hdl.handle.net/11189/3397
Title: Modeling the long term impact of existing products on perceived value of new products
Authors: Yan, Bingwen 
Makinde, Oluwole D 
Keywords: Long term impact;Perceived Value;Existing products;New Products;Lean Product Development;Mathematical Model
Issue Date: 2009
Publisher: IEEE
Source: Yan, B. W., & Makinde, O. D. (2009). Modelling the long term impact of existing products on perceived value of new products. In Industrial Engineering and Engineering Management, 2009. IEEM 2009. IEEE International Conference on (pp. 1136-1140). IEEE.
Abstract: Innovation, continuous improvement, and changes forced by economics factors and marketing conditions are essential elements for bringing new products successfully in the marketplace; however, market competition with the existing products may have along term impact on the perceived value of the new products. Moreover, whether introducing new products/services or upgrades of existing products/services, better profit can be achieved by applying Lean product development technique and evaluating the long term impact of existing products on perceived value of new products will contribute in maintaining the desired profit margin. In this study, a two compartmental deterministic mathematical model for assessing the long term impact of existing products on perceived value of new products is proposed and analysed qualitatively. Numerical simulations support our analytical conclusions and illustrate possible behaviour scenarios of the model.
Description: Yan, B. W., & Makinde, O. D. (2009). Modelling the long term impact of existing products on perceived value of new products. In Industrial Engineering and Engineering Management, 2009. IEEM 2009. IEEE International Conference on (pp. 1136-1140). IEEE. DOI: 10.1109/IEEM.2009.5372967. Hong Kong
URI: http://dx.doi.org/10.1109/IEEM.2009.5372967
http://hdl.handle.net/11189/3397
Appears in Collections:BUS - Conference Proceedings

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