What does it mean to add value to a product?

[Stardom22]

Adding value to the product is mainly done to attract more customers to the products. This is simply because most customers would need the highest quality products no matter the prices.

 

[IB D]

The difference between developing countries and developed countries even when the former is blessed with more natural resources is value addition. Raw materials can never move any market like finished products.

 

[eldavis]

Adding value to a product can also be said to be creating a product that is actually a solution to a particular problem. Which means your products should be able to solve the problem of your target audience.

 

[Springtime]

Adding value to a product may include adding new product features which enhance user experience; improve product packaging and design; offer excellent after sales service and expert advice and in some cases, speedy delivery service.

 

[hastral45]

To add value to a product means you must ensure the product has capacity to provide utility value. That is it must be able to provide solution or satisfaction to the purpose in which it is established. If the product you are producing do nor have utility values, then such product would not enjoy demand for it in the markets.

 

[Yohanna]

Adding value to a product simply means satisfying the customers the more.

 

[Knowledge Quest]

It depends, packaging, selling environment, quality of the produy, etc. All these can add up the value of a product

 

[Suba]

The purpose of adding value to a product is to add or increase the economic value of the product or service that you offer/sell to consumers, for example you add a spicy and sour taste to your food that has never been tried by competitors, so your product has more value and is superior to other products. kind.

 

[Phantasm]

The purpose of adding value to a product is to add or increase the economic value of the product or service that you offer/sell to consumers, for example you add a spicy and sour taste to your food that has never been tried by competitors, so your product has more value and is superior to other products. kind.

Just like you said, adding value to a product will eventually increase the economic value of the product as more people prefer to have good and quality products regardless of what it may cost , it should just settle their needs .

 

[hastral45]

Just like you said, adding value to a product will eventually increase the economic value of the product as more people prefer to have good and quality products regardless of what it may cost , it should just settle their needs .

Yes. Adding value would add to the economic value of that product. A product with low value would not enjoy much patronage. Value plays major role in products marketing especially if such products have rivals in the market. It is the values that would be used to differentiates products.

 

[eldavis]

It depends, packaging, selling environment, quality of the produy, etc. All these can add up the value of a product

True, like they say the difference in plantain chips and the ones they just tie and sell by the road is packaging. its the same thing but one is more expensive than the other.

 

[Niyi Briggs]

It is all about modifying a product through further processing for it to command more traction and utility for a consumer. Value added products command better prices.

 

[uptrendfinancialsignal]

If you value your customers to have loyalty in your business brand you will always make sure that you offer maximum quality when it comes to your product.

Adding value to the product will definitely attract new customers because it will improve satisfaction..