added value

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  • added value
    • what is added value
      • the increased worth that a business creates for a product.
      • it is the difference betweeen what a business pays its suppliers and the price that it is able to charge for the product
    • ways to add value
      • unique selling point
      • better design
      • more convinience
      • improved quality
      • branding
      • greater speed of service
    • the importance of added value
      • the added value of a product goes towards paying off the company's cost
      • the higher the added value the sooner the costs can be paid off and the quicker a business will make a profit
      • the more value a business can add to its product the more chance the business has of success, survival and long term growth

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