Virðiskostnaður
Virðiskostnaður is an Icelandic term used in business and accounting to describe the cost associated with delivering value to customers. It encompasses not only the direct production costs of a good or service but also the costs of activities that add value in the eyes of the customer, such as design, quality assurance, service, warranties, and after-sales support. The concept is used to assess how much value a product or service creates relative to the resources used to produce it.
In practice, virðiskostnaður is examined in relation to the price customers are willing to pay and the
The concept is closely related to value creation and strategic cost management. It emphasizes that not all
Examples of virðiskostnaður include product design costs that improve usability, investment in reliable after-sales service, and