Booklet 2 Flashcards
1
Q
Importance of Added Value
A
Charge premium price
Stand out from competition
2
Q
How to achieve Added Value
A
• Product Features and Benefits
• Building a brand
• Offering convenience
• Delivering excellent service
3
Q
+ - Product features and Benefits
A
+Competitive differentiation
-High development costs
4
Q
+- Building a brand
A
+Customer loyalty
-Time consuming
5
Q
+- Offering convenience
A
+Customer satisfaction
-Security concerns
6
Q
+- Delivering excellent service
A
+Customer retention
-Consistency challenges
