Sources of added value Flashcards
1
Q
Quality
A
a product or service that is of high standard in comparison to similar products or services that competitors are offering
2
Q
design and formula
A
a product/ service may contain a feature that makes it distinctive from other similar ones
3
Q
convenience
A
customers will pay a little more for a product that they can have straight away
4
Q
speed and quality of service
A
customers may be prepared to pay a higher price for products that can be delivered quicker
5
Q
branding
A
a business creates distinctive product that stands out from those of it’s competitors
6
Q
Unique selling price
A
a characteristic which makes a product/ service different from other similar products being sold
