1.

Competitive Advantage: Adding value can help a company stand out in a

crowded market. By offering something extra or unique, a business can
attract more customers and stay ahead of its competitors. For example, a
restaurant might offer free Wi-Fi to its customers, giving them an
additional reason to choose that restaurant over others in the area.
2. Increased Customer Loyalty: When a company adds value to its products
or services, it can build stronger relationships with its customers. This
can lead to increased customer loyalty and repeat business. For instance,
a software company may provide free customer support and regular
updates to its software, ensuring that customers continue to use their
product and stay loyal to the brand.
3. Higher Profit Margins: Adding value can often justify higher prices,
which can result in increased profit margins. Customers are willing to pay
more for products or services that provide added benefits. An example
of this is a smartphone manufacturer including high-quality camera
features and exclusive software applications, allowing them to charge a
premium price for their devices.