The activities and processes that increase the worth of a product or service are called:
A)worth enhancement
B)value creation
C)product enrichment
D)business expansion

Question

Quizplus · Accepted Answer

Value creation refers to activities and processes that increase the worth of a product or service by improving its quality, features or performance, or by reducing its cost, among other factors. This can lead to increased customer satisfaction and willingness to pay a higher price, ultimately resulting in higher profits for the business. The other choices (A, C, D) are either too specific or too general to accurately describe this concept.

The Activities and Processes That Increase the Worth of a Product