Which three of the following are sources of added value for a business such as Finishing Touches?
Select three answers:
A - Edexcel - GCSE Business - Question 6 - 2015 - Paper 1
Question 6
Which three of the following are sources of added value for a business such as Finishing Touches?
Select three answers:
A. Having a range of designs
B. Meeting leg... show full transcript
Worked Solution & Example Answer:Which three of the following are sources of added value for a business such as Finishing Touches?
Select three answers:
A - Edexcel - GCSE Business - Question 6 - 2015 - Paper 1
Step 1
A. Having a range of designs
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Answer
Offering a variety of designs can attract a broader customer base, as it provides customers with options that cater to their personal tastes and preferences. This variety makes the product more appealing and can enhance customer satisfaction.
Step 2
D. Improving quality
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Improving the quality of products or services can lead to increased customer trust and loyalty. High-quality offerings are often associated with greater value, allowing businesses to justify higher prices and enhance their brand reputation.
Step 3
E. Having a unique selling point
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Having a unique selling point differentiates a business from its competitors, making it memorable and attractive to consumers. This uniqueness can create a niche in the market, allowing the business to stand out and potentially command premium pricing.
