Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
3 Cards in this Set
- Front
- Back
|
Value added |
Price of product/service - cost of production |
|
|
Strategies to add value |
Reducing the cost of inputs like raw materials And compliments by negotiating his suppliers for lower prices and improving productive efficiency that will reduce wastage Making consumers desire the product more so that they Are willing to pay a higher price. This may involve innovations to the product like adding new features and marketing strategies like sales promotions and advertising. Improving customer service |
|
|
Strategies that add value |
- Reducing unit cost by increasing productivity to training updating technology and specialization -Using reproduction that increases quality and reduces waste -Sales promotion packages like buy one get one free and bargain packs -providing customer support online or directly -Persuasive Advertising that make the product appear highly desirable |
