In this study, an integrative approach of customer satisfaction and cost of quality has been proposed for the value analysis of products based on a cost–benefit ratio.
For the integrative approach, Kano and prevention-appraisal-failure (PAF) models have been applied. By the proposed approach, the value of products can be analyzed according to customer viewpoints and cost of quality. Four products of a home appliance company have been used to examine the new approach.
Findings indicate the priorities of the studied products as stove, TV, fridge and washing machine, respectively. Such a set of prioritized products plays a strategic role in the competitive advantage of the studied company.
In this study, the weights of the cost of quality items have been assumed as equal. Also, the costs of quality items were limited to the most important ones at the studied company. However, more cost of quality items might be considered in different case studies.
In this study, the Kano and PAF models have been considered simultaneously for product value analysis from the viewpoint of customers. In addition to the classic method of value analysis which is merely based on previous events, the proposed approach is typically proactive.
