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Business add values to goods and services by modifying them in a particular way to create a new product for greater value to customers. Comment on the concept of value addition from financial and marketing perspective.

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Business add values to goods and services by modifying them in a particular way to create a new product of greater value to customers. 

Added value, from a financial point of view, represents the difference between the value of goods and services that are used as inputs to a production process and the value of the outputs of that process. Added value, from a marketing perspective, means adding value that turns a commodity into a branded product. Branded products and services can also have value added by enhancing their design, characteristics or range of features.

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