Value  is any principle that a person or company adheres to with some degree of  emotion. It is one of the elements that go into formulating a successful  strategy. When developing a new product, companies need to consider what  values they want the product to represent. For example, a company might wish  for its product to be known for being environmentally friendly or made with  high-quality materials. Whatever values a company chooses, they need to  ensure that these values are reflected in every aspect of the product, from  the design to the packaging. By clearly communicating their values, companies  can ensure that their products resonate with their target customers.