Explain one way in which a business such as Bon Bon’s adds value to the products it sells.
- Edexcel - A-Level Business - Question 1 - 2022 - Paper 1
Question 1
Explain one way in which a business such as Bon Bon’s adds value to the products it sells.
Worked Solution & Example Answer:Explain one way in which a business such as Bon Bon’s adds value to the products it sells.
- Edexcel - A-Level Business - Question 1 - 2022 - Paper 1
Step 1
Understanding Adding Value
96%
114 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Adding value refers to the process of transforming inputs into products that can be sold for more than their cost. For Bon Bon’s, this involves developing a unique selling proposition (USP) that differentiates their products in the market.
Step 2
Application Example 1
99%
104 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
An example of how Bon Bon’s adds value is through their hand-packed confectionery. This not only provides a personal touch but also enhances the perceived quality of the product.
Step 3
Application Example 2
96%
101 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Another way is by offering traditional flavours, which cater to customer nostalgia and preferences, making the products more appealing.
Step 4
Analysis
98%
120 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
By adding value in these ways, Bon Bon’s provides greater convenience and enhanced appeal for retailers and customers, which may lead to a willingness to pay a higher price for their products.
