Design to Value and its marketing applications

Module 4 Discussion-DTV
In Module 4, we are learning about Design to Value and its marketing applications. Reflect on your major takeaways from the readings, videos, and presentations. In particular, consider how Design to Value requires a comprehensive understanding of the target market’s values and perceived consequences. How does a value based model speak to human values, needs and aspirations? Consider logic and reason as well as intuition and reflection in crafting your essay.In your replies, consider posing reflective questions, providing opposing views, and sharing additional information that facilitates our understanding of DTV. Remember to cite your sources using APA format.The rubric for discussions can be viewed by clicking the three dots (top right) and selecting Show Rubric. Please read it carefully to understand the expectations for discussions.Discussion Rubric (TT)

 

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DEVELOPMENT AND APPLICATION OF
DESIGN-TO-VALUE
Student’s Name
Institutional Affiliation
Course
Date
INTRODUCTION
DTV is seen as a product of cost management to try and ensure there is optimization
of value and product cost.
DTV ensures that it helps one to understand the value of the customer thus driving the
right product to make the needed decisions of design (Almquist, Cleghorn, & Sherer,
2018).
It is considered as the right approach in the business experience where there is
declining sales of products.
In this case, customers tend to be more intrigued towards ensuring that there is some
form of competitor products.
CHALLENGE OF DESIGN-TO VALUE
There is high level of commodity prices that are rising where it consolidates the
economic pressures.
Other forms of many input costs have exploded over the last many years which have
managed to increase the need of raw materials.
There is continued investment of development perspective and product design for
companies (Fritzen, Nick, & Wullenweber, 2013).
There is continued investment by companies on the reduction of product costs.
BENEFITS OF DESIGN-TO-VALUE
Provides bottom-line and top-line improvements when it is well implemented.
Some forms of environmental and social values can easily be included in the DTV
(McKinsey & Company, n.d.).
The combination of cost improvement and price ensures that there is margin
improvement for industry dynamics.
It ensures that improvements lies between 11-21% where indirect or direct materials
are taken into consideration.
APPLICATION OF DESIGN-TO VALUE
It helps in understanding the product attributes and other forms of customer care that
manage to translate to the new designs.
DTV increase the level of performance of the product and address the needs of
customers (Narayanan, Padhe, & Williams, 2012).
It helps one to pay more and increase the level of performance thus encouraging the
increase of sales and marketing operations.
They are used to ensure that they manage to optimize the full cycle of products which
is a component of sales optimization (Sheppard, Sarrazin, Kouyoumjian, & Dore,
2018).
DEVELOPMENT OF DESIGN-TO-VALUE
DTV works through the establishment of cross-sectional view across the applying
company.
Ensuring that there is the required internal alignment when the company is seen to be
essential in laying the needed foundation of success.
There is need of ensuring understanding of the decision of design for different
stakeholders (Hannon, & Hauptmann, 2018).
Understanding the customer value and other products used in competition.
Essential for one to capture the needed level of customer and consumer insights and
other forms of qualitative data.
CONCLUSION
It helps companies to interact with clients thus identifying their existing product
features.
DTV helps companies to design their own products that has new features thus
promoting sales.
Helps in evaluating the cost elements and assists in helping companies to optimize
some form of efficiency.
It also highlights areas that need improvement.
REFERENCES
Almquist, E., Cleghorn, J., & Sherer, L. (2018, March). The B2B elements of valuePreview the
document. Harvard Business Review.
Fritzen, S., Nick, H., & Wullenweber, J. (2013, December 1). Capturing the full potential of
design to valuePreview the document. McKinsey & Company.
Hannon, E., & Hauptmann, S. (2018, September 27). Turning in to value: How Sky redesigned
its set-top box for the circular economyPreview the document. McKinsey & Company.
McKinsey & Company. (n.d.). Design-to-value. https://www.mckinsey.com/businessfunctions/operations/how-we-help-clients/product-development-procurement/design-to-value
(Links to an external site.)
Narayanan, A., Padhe, A., & Williams, J. (2012, October 1). Designing products for
valuePreview the document. McKinsey & Company.
Sheppard, B., Sarrazin, H, Kouyoumjian, G., & Dore, F. (2018, October 25). The business value
of designPreview the document. McKinsey & Company.

 

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