Lesson: adding value Starter 5 mins Matching exercise [from last lesson] Intro Link competitive factors [last lesson] with the idea of adding value Discuss car auction example Activity 1 10 mins Restaurant example – introduce and explain Group to come up with five ways in which a restaurant can add value Activity 2 Teacher explanation of the sources of added value Activity 3 20 mins Explain the activity Added value strategy Activity 4 Present strategy to the class Activity 5 15 mins Writing task Use pages 24-26 to complete the written task Activity 6 How does your business add value? Plenary Multi – choice p.26 Review sources of added value

to be able to describe how a business can add value C. Having better products D. Dealing effectively with complaints Being Competitive 1. Quality & Design 2. Selling experience 3. After-sales service 4. Price 5. Brand image Being cheaper than rivals Starter Write 1-5 in book Then match to a letter B. Having a reputation which allows you to charge more E. Providing customers with good service to be able to describe how a business can add value

to be able to describe how a business can add value C. Having better products Being Competitive 1. Quality & Design 2. Selling experience 3. After-sales service 4. Price 5. Brand image B. Having a reputation which allows you to charge more E. Providing customers with good service Starter Write 1-5 in book Then match to a letter D. Dealing effectively with complaints Being cheaper than rivals to be able to describe how a business can add value

to be able to describe how a business can add value

to be able to describe how a business can add value

to be able to describe how a business can add value

to be able to describe how a business can add value

to be able to describe how a business can add value The food costs about 20% of the menu price. Is the customer being ‘ripped off’? How can Rumours add value? to be able to describe how a business can add value

to be able to describe how a business can add value The food costs about 20% of the menu price. Is the customer being ‘ripped off’? How can Rumours add value? 5 ways in which a restaurant can add value 1. 2. 3. 4. 5 to be able to describe how a business can add value

to be able to describe how a business can add value Added value Quality Design Convenience Service Branding USP to be able to describe how a business can add value

to be able to describe how a business can add value

to be able to describe how a business can add value You are running a chocolate business Assume: cost 1p each to make button So..bag of 25 = 25p cost to be able to describe how a business can add value

to be able to describe how a business can add value You are running a chocolate business Assume: cost 1p each to make button So..bag of 25 = 25p cost Assignment To devise a strategy which could allow your business to sell a bag of 25 for £1 to be able to describe how a business can add value

to be able to describe how a business can add value Assignment To devise a strategy which could allow your business to sell a bag of 25 for £1 You are running a chocolate business Assume: cost 1p each to make button So..bag of 25 = 25p cost Added value Quality Design Convenience Service Branding USP to be able to describe how a business can add value

to be able to describe how a business can add value Added value What is added value? Added value is...... For example.... How is added value achieved? To achieve added value a business can....... For example....... Why is added value important to a business? A business cannot survive without adding value because.... to be able to describe how a business can add value

Your business To be able to describe what a business does Suppliers Competitors £ Your business £ Added value How does your business add value? Customers to plan a new business venture while recognizing the influence of competitors

to be able to describe how a business can add value Added value to be able to describe how a business can add value

to be able to describe how a business can add value Added value to be able to describe how a business can add value

to be able to describe how a business can add value Added value Quality to be able to describe how a business can add value

to be able to describe how a business can add value Added value Quality Design to be able to describe how a business can add value

to be able to describe how a business can add value Added value Quality Design Convenience to be able to describe how a business can add value

to be able to describe how a business can add value Added value Quality Design Convenience Service to be able to describe how a business can add value

to be able to describe how a business can add value Added value Quality Design Convenience Service Branding to be able to describe how a business can add value

to be able to describe how a business can add value Added value Quality Design Convenience Service Branding USP to be able to describe how a business can add value