• Print Page
• eMail Page

Search website for :

Home→The Westburn Dictionary of Marketing→V→value added

value added

Definition:
The value that is added by an organization to the cost of its inputs and arriving, thus, at the price of its output. A process which turns steel plates into smaller plates adds only a little value. A process which turns steel plates into cars or refrigerators adds a great deal of value. Added value as an economic concept is thus a yardstick which can compare the technological levels and sophistication of process companies, industries and nations.

Cross-References:

Links:

Figures:

© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [James R. Bureau], [1998].