In today’s world, and for virtually any product or service; the customer is the king. The world is now different no doubt. Companies must ensure that their products continue to satisfy the consumer while remaining profitable. Most times, companies are faced with competitor(s), thriving to get a larger share of the market, or even sink their competitors, with strategies set in place. Four of the top competitive food products facing this problem in Nigeria were selected for the research work. The study is aimed at the utilization of Value Analysis (VA) and Quality Function Deployment (QFD) to critically analyze selected products with the intent of identifying ways of improvement, reducing the risk of shrinking market share, scheduling improvements and presenting these proposed improvements for implementation. The product ingredients as well as their functions were identified. Consumer needs were determined using questionnaires. Analysis involved combining Statistical Packages for the Social Sciences and Microsoft Excel and utilization of the principles of value analysis. Quality Function Deployment (QFD) was adopted at the creative stage of Value Analysis to further analyze consumer needs by linking them to the ingredients that meet such needs. The results indicate that for each competitive pair of products analyzed, a particular product seemed to be gradually taking the other off the market with a larger percentage of consumers being drawn to the superior product. With the focus on improving the less preferred products, using the House of Quality (HoQ) development and the Quality Function Deployment (QFD) process, implementation strategies were reviewed. From the study, it can be deduced that for the products to be successful in the market. The ingredients with the higher relative weights are to be given more emphasis. Also, it is essential that the voice of the customer is obtained at intervals to ensure that the products satisfy them at any point in time. Methods for enhancing the products based on the need of consumers were recommended.