Adding Value Flashcards
1
Q
What is adding value
A
The difference between the cost to produce a good or service and the amount of people prepared to pay for it
2
Q
How can you increase value
A
Through the production process
3
Q
The importance of adding value
A
Creates competitive advantages
Makes profit- value increases potential profit does too
4
Q
How to add value
A
- production
- design
- brand image
- speed/quality
5
Q
Hi
A
Hey
