1
Q
How can a business add value to a product or service?
A
- Convenience and speed
- Good Design
- High quality manufacture or service
- Brand name
- Unique selling point
2
Q
What is Branding?
A
giving a product or service
‘personality’, with a name and logo that makes it stand out.
3
Q
What is a unique selling point? (USP)
A
an original feature of a product that rivals aren’t offering.
4
Q
What is added value?
A
the difference between the
selling price and the cost of bought-in goods and services (the difference that creates the possibility of profit).
5
Q
How do you calculate added value?
A
Selling Price - the cost of bought-in materials and components.
Business Studies
flashcards
Decks in class (15)
# Cards
-
2.3.2 Working with Suppliers12
-
2.3.1 Business Operations12
-
2.3.3 Managing Quality10
-
2.1.2 Changes in Business Aims and Objectives5
-
1.4.4 Business Plans6
-
2.3.4 The Sales Proces2
-
2.4.1 Business Calculations6
-
2.5.1 Organisational Structure6
-
1.1.1 The Dynamic Nature of Business2
-
1.1.2 Why new business ideas come about3
-
1.1.3 How new business ideas come about4
-
1.1.4 Risk and Reward2
-
1.1.5 The role of business enterprise2
-
1.1.6 Adding value5
-
1.1.7 Entrepreneurship3
