What is added value?

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A concept with different meanings according to whether it derives from an economic, financial/accounting, or marketing point of view. In economic terms, added value means the usefulness acquired by a good or service as a result of undergoing a process of transformation. This one may speak of products or goods with low added value where the transformation process does not require technical knowledge or complex procedures. In accounting, it is equivalent to the difference between sales and the productive factors used by a company, which measures the wealth it generates. In marketing, added value means the additional or differential characteristics of a product or service that make consumers choose that product or service over the competition. Added value normally emanates from the service, the customer care, or the brand.

 
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