Abstract
People think that there is a relationship between the value and quality of a product. In the QC field, however, the author find practically no paper on this subject, other than the unsatisfactory 2page paper by W.A.Shewhart(1931). In such an environment, it is difficult to design the quality of a product from the viewpoint of customers's value. QC has so far made detailed study on the product quality to meet customer requirements but is yet to explore the area of competition among products and a relationship between quality and price. From tis nature, ISO 9000s do not cover price or competition. People infuluenced by the VE equation consider that decreased cost or price will increase the velue of a product. This thinking, however, is not in agreement with the common sense of ordinary people. People think that a decrease in price will mean a decrease in value. Aimed at providing common conceptual frame to related sciences, this paper completes the collection of the author's treatises on "the value, quality, price and cost of a manufactured product" studies for some years.
