1.1 Added Value Flashcards
1
Q
How to calculate added value
A
Selling price - cost of production
2
Q
Ways of adding value
A
Marketing
Design
Production
3
Q
Benefits of adding values
A
Premium prices
Brand recognition
Customer relationships
Competitive advantage
4
Q
Drawbacks of added value
A
Cost implications
Risk associated with adding value
Pricing may not suit target market
Other sources of added value may be more of a concern
