-
Value
A fair return on investment.
-
Value Added
1. Feature or benefit added to an existing good
or service that increases its usefulness or
worth to the buyer or end user.
2. The increased worth of a good or service as it
progresses through production and
distribution.
-
Value Analysis
A critical and systematic
assessment of the functions of a good or
service to ensure the cost of the good or
service is no greater than is necessary to
perform the functions of that good or service
and meet standards, specifications,
procedures, and practices. See also: Value
Engineering.
-
Value Engineering (VE)
An organized, systematic
approach to providing the necessary functions
in a project at the lowest possible cost by
substituting methods and materials with less
costly alternatives without negatively affecting
functionality. See also: Value Analysis.
-
Value Incentive Contract
A fixed-price contract
with a provision for rewarding the supplier for
faster delivery or superior performance.
-
Value Proposition
A statement used by a
company to differentiate its overall offerings
in the marketplace to increase the
attractiveness of its goods and services by
highlighting and explaining features, benefits,
or innovations.
-
Value-Added Reseller
A company that adds a
feature or service to an existing good or
service bought from another source and
resells it as an integrated good or improved
service.
-
Value-Added Tax (VAT)
A tax based on the value
added during each stage of a product’s
production or distribution. Common
throughout the European Union.
-
Value-Based Pricing
A business strategy that
sets a product or service price based on the
benefit it provides the customer, rather than
on the cost of the product, market price,
competitor, or historical price. Value-based
pricing includes advertising or surveying to
determine or measure the anticipated benefit
the customer will receive and align the value
delivered. Pricing is based on the perceived or
actual value that the end user will receive.
-
Valued Policy
An insurance policy in which the
sum to be paid in case of loss is fixed by the
terms of the policy; especially relating to fire
insurance.