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What does add value mean?

Looking for the meaning or definition of the word add value? Here's what it means.

Verb
  1. (intransitive, business, management) To make a product or service more desirable or useful.
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Examples
As part of its launch in the United States, Esquitino commissioned us to restyle its brand in order to position the firm and add value.
Now, instead of paying to have someone else mill their wheat, they add value to their crop by grinding and bagging it themselves.
The wholesalers add value by holding stock and assisting in the distribution process.
On the contrary, if farmers are to increase their incomes they must find ways to add value to the commodities they produce.
Like manufacturers, however, they generally add value to vendible commodities.
The foremost weakness in the exploitation of timber resources in Zambia has been the absence of capacity to add value to the product.

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