value added

1. Accounting: Alternative term for gross income.

2. Economics: Difference between the total sales revenue of an industry and the total cost of components, materials, and services purchased from other firms within a reporting period (usually one year). It is the industry's contribution to the gross domestic product (GDP) and is the basis on which value added tax (VAT) is computed. See also economic value added.

3. Marketing: Creation of a competitive advantage by bundling, combining, or packaging features and benefits that result in greater customer acceptance.