Top 150+ Solved Product Design and Value Engineering MCQ Questions Answer
Q. Value is the cost directly proportionate to ________.
a. Price
b. Function
c. Product Material
d. All of the above
Q. The price paid by the buyer is ________.
a. Cost value
b. Use value
c. Esteem value
d. Exchange value
Q. The cost incurred by the manufacturer beyond use value is called
a. Cost value
b. Esteem value
c. Exchange value
d. None of the above
Q. Value analysis should be applied when the following symptom(s) is (are) present
a. Rate of return on investment is reducing
b. Reduction in sales of the product
c. Firm is unable to meet delivery promises
d. All of the above
Q. Who is named as Father of Value Analysis?
a. Lawrence D. Miles
b. George Terborgh
c. Michael Jucius
d. Edwin B. Flippo
Q. Important reason(s) for arising unnecessary costs are
a. Poor design of product
b. Too tight specifications
c. Lack of standardization
d. All of the above
Q. The costs those which neither contributes to function nor the appearance of the product is called
a. Extra cost
b. Unnecessary cost
c. Esteem cost
d. Exchange cost
Q. Customer –centered companies are skilled in _______
a. Market engineering
b. Product engineering
c. Both (a) and (b)
d. None of the above
Q. “The only value you will ever create is the value that comes from customers, the ones you have now and the once you will have in the future”, is said by ______.
a. Philip Kotler
b. Abraham Koshy
c. Don Pappers and Martha Rogers
d. None of the above
Q. In the modern customer-Organization chart the entity on the top are ______.
a. Customers
b. Top Management
c. Frontline people
d. None of the above
Q. __________ is the gap between the prospective customer’s assessment of all the advantages and all the costs of an offering and the perceived options.
a. Customers-perceived value
b. Total customer benefit
c. Total customer cost
d. None of the above
Q. Total customer costs is made up of _______
a. Monetary cost and time cost
b. Energy cost and psychological cost
c. Both A and B.
d. None of the above
Q. Managers conduct a _________to know the company’s weakness and strength a relative to those ofvarious peers.
a. Product value analysis
b. Service value analysis
c. Customer value analysis
d. None of the above
Q. A customer adds up all the functional, psychological and economic benefits from _____sources.
a. Products, services, personnel and image
b. Products and services
c. Products and personnel
d. Only personnel