What are the different types of value added?
Answers
Value Added is the extra value created over and above the original value of something. It can apply to products, services, companies, management, and other areas of business. In other words, value-added is the enhancement made by a company/individual to a product or service before offering it to the end customer.
Value can be added to, a product, a service, a process, or an entire business. Value can be added by way of providing better or extra services in the form of after-sales services and better customer support. Value can also be added by improving a product in some way, or by including extras with the product. For example, a retail seller of computers can add value by including software or computer accessories with the basic product, the computer.
Companies with strong branding can add value to their products or services simply by way of using the company’s logo to sell the product.