Added Value - means the value of output minus the costs of inputs. Adding value can enhance the attractiveness of the product to customers and is the key to profit.
Many business will try to avoid competing on prices, and will try to differentiate there product so that they can charge a higher price. They will try to give there product added value, a farm business might go organic and develop a local market within witch they can sell direct to the customer at prices above those paid by the supermarkets.
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