What is value addition? Explain by giving examples.

1.	What is value addition? Explain by giving examples.
Answer» Value addition refers to creation of a competitive advantage by, combining, packaging features and benefits or through any other method that results in greater customer acceptance. Its examples are: 1. Offering one year of free support on a new computer would be a value-added feature. 2. Turning cotton into fabric Here, fabric has more usefulness than cotton. 3. Turning milk into cheese Cheese has got more specific uses than milk. 4. Packaging ready-to-use grated cheese into serving size packets. 5. Turning wood into paper Utility of paper is more than wood. C. LONG

Answer»

Value addition refers to creation of a competitive advantage by, combining, packaging features and benefits or through any other method that results in greater customer acceptance.

Its examples are:

1. Offering one year of free support on a new computer would be a value-added feature.

2. Turning cotton into fabric Here, fabric has more usefulness than cotton.

3. Turning milk into cheese Cheese has got more specific uses than milk.

4. Packaging ready-to-use grated cheese into serving size packets.

5. Turning wood into paper Utility of paper is more than wood. C. LONG

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