ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Adding value to a product or service helps companies attract more customers, which can boost revenue and profits. Value-added is effectively the difference between a product’s price to consumers and the cost of producing it.

Detailed explanation-2: -Value-added selling can be defined as a series of creative improvements within the sales process that enhance the customer experience. Salespeople can create value by developing a quality relationship, carefully identifying the customer needs, and then configuring and presenting the best possible product solution.

Detailed explanation-3: -Add new product features that improve user experience. Improve product packaging and design. Improve customer onboarding. Continue to innovate. Refine after-sales service. Increase speed of product delivery. Offer expert advice. 12-Sept-2022