The increasing globalization, the shift towards buyer markets, and the continuously rising micro-segmentation of markets make it difficult for companies to efficiently develop and implement suitable products for specific requirements. Furthermore, the growing functional complexity in products and the increasing integration of mechatronic elements into products necessitate a comprehensive approach to the topic of product complexity within companies. How much external complexity is necessary to meet customer orientation, and at what point does internal complexity become a profit killer? And: How is this complexity managed concretely? These are important questions that product managers must address. This book provides a toolbox of proven methods to tackle these challenges. The third edition includes a variety of innovations that reflect the current situation.