Materials Science And Engineering Properties
1st Edition
ISBN: 9781111988609
Author: Charles Gilmore
Publisher: Cengage Learning
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Question
Chapter 14, Problem 1CQ
To determine
The term used for the extent of a product to which the product meets the performance criteria.
Expert Solution & Answer
Answer to Problem 1CQ
The value of the product is the extent to which the product meets the performance criteria.
Explanation of Solution
The value of a product is the measure of determining the extent up to which the product adheres to its performance standards. The value of a product has a direct impact on the sale and the price of the product. For a product to have a good value, it should have low operational and maintenance costs, good resale value and so on. A product with good value is preferred by the consumer and the company can even quote a higher price for it which allows the company to make more profit.
Thus, the value of the product is the extent to which the product meets the performance criteria.
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Chapter 14 Solutions
Materials Science And Engineering Properties
Knowledge Booster
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