Starter Task Why do you think this product is worth more: Beauchamps High School
GCSE Business Studies Adding Value Beauchamps High School
Learning Objectives by the end of this lesson students…. Will be able to evaluate the methods of added value Evaluation ~ GCSE Grade A* Will be able to propose methods of added value Synthesis~ GCSE Grade A Will be able to analyse the importance of added value to a business Analysis ~ GCSE Grade B Will be able to demonstrate understanding by using examples/cases Application ~ GCSE Grade C Will be able to explain the different ways to add value Comprehension ~ GCSE Grade D Will be able to recall key terms added value Knowledge ~ GCSE Grade E
Theory Notes Added Value Increased worth that a business creates for a product. The difference between what a business pays its suppliers and the price it charges Beauchamps High School
Task What things can add value to a product? You may wish to focus on a specific product or service Beauchamps High School
Added Value Convenience and speed Good design Theory Notes Added Value Convenience and speed Good design High quality manufacture or service The brand name Unique feature (USP) Key term: Unique Selling Point (USP) Beauchamps High School
Convenience and Speed Pay extra to save their own time Theory Notes Beauchamps High School
Good design Pay extra for high quality material Theory Notes Beauchamps High School
High quality manufacture or service Theory Notes High quality manufacture or service Pay extra for high service www.youtube.com/watch?v=WxPeIKQDreA Beauchamps High School
The Brand name Pay extra for the brand name Theory Notes Beauchamps High School
USP Unique Selling Point Theory Notes USP Unique Selling Point Pay extra for the unique feature Beauchamps High School
Against the Clock You have 5 minutes in groups (before the sand runs out!) to write on your whiteboards: Method of adding value to a T-Shirt Now Feedback to class
The importance of added value Theory Notes The importance of added value To survive To be successful Most successful businesses are ones that achieve high levels of value added Beauchamps High School
Exam question practice List the two types of cu Beauchamps High School
Exam practice questions Beauchamps High School
Learning Objectives by the end of this lesson students…. Will be able to evaluate the methods of added value Evaluation ~ GCSE Grade A* Will be able to propose methods of added value Synthesis~ GCSE Grade A Will be able to analyse the importance of added value to a business Analysis ~ GCSE Grade B Will be able to demonstrate understanding by using examples/cases Application ~ GCSE Grade C Will be able to explain the different ways to add value Comprehension ~ GCSE Grade D Will be able to recall key terms added value Knowledge ~ GCSE Grade E