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| No | 4% | 27 votes | Total: 697 votes | |
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Quality is a perceptual, conditional and somewhat subjective attribute and may be understood differently by different people. Consumers may focus on the specification of a product/service, or how it compares to competitors in the marketplace. Producers might measure the conformance, or degree to which the product/service was produced correctly.
At first Quality is directly linked with the buying power of people. If people in a segment are not affording high price quality products then how can a producer adopt quality for that segment?
Everyone always likes to get quality product but dreams always cannot come true. If the buying power cannot permit people then they cannot purchase quality products. People always demand quality but they cannot afford quality. Quality cannot be cheaper. You have to pay a lot for get quality that you cannot always afford. It is important to know here high quality means to pay high cost.
Secondly, Quality is linked with satisfaction. Suppose you go to a restaurant and eat something at low cost but you feel food good then you obviously want to go there rather than a high quality costly restaurant. The quality of low cost restaurant is not equal to high one but if you are satisfy with low one then you will absolutely prefer it. Satisfaction allows a customer to go towards high quality product or low quality product.
Competition is very important here. A Company producing a product with high quality and high cost will not be preferred as compared to company producing a medium quality product with a great difference of cost. In competition companies always want to attain more consumers and not only attain but also retain them. So, companies always try to produce better products in lower cost in competition because its consumer's demand.
It is said a company not producing quality product cannot go up. It is correct but if the company has not enough customers to purchase that product then how can a company be improved?
It is necessary for a company to segment the market first. Then select the quality according to customer preference. Some companies are producing different quality products for covering the different segment of markets. This is the best way for company.
A lot of conditions are applying on quality here. Buying power, satisfaction, competition, behavior of customer towards a product are all factors affecting on quality products. So, quality is not important, most important is consumer behavior towards the quality of a product.
Learn more about this author, Sadia Umer.
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Yes
When it comes to keeping and attracting more business, quality is one of the most important features a company can provide for their customers. Quality will promote the following for a company's products and brands:
Increase customer loyalty and repeat business.
Attract new customers looking for quality products and services.
Lower overall costs of doing business.
Decrease the need for inspection.
Increase long-term profitability.
When choosing to buy two competing products of the same cost, customers will choose the product they feel will give them better value. A longer lasting better product will give more value. Even when quality differences are narrow the brand with the better perceived quality usually will get the consumer dollar. This is how quality creates customer loyalty. Loyal customers buy repeatedly. It is important for business to profit over and over again from their customers.
Loyal and happy customers tell others and influence friends to buy the product. This is all based on quality of product and quality of service provided by the business. Once a product is known for quality, customers will be attracted to buy even when it is not reduced in price. Higher margins are then realized.
When a business makes a high quality product the first time, it does not have the added cost of rework or scrapping a poorly made unit. It does not cost a company anymore to make the product right the first time around. Fixing defects in a product costs more money and actually creates losses for those poorly made units.
Business should focus on building quality into the product. This starts at the design phase of the process. A production process with less variability will produce higher quality products. When a company builds quality into the product at the start, there is less chance for a poor quality product at the end of the process. It is much harder to take poor quality inputs and create a high quality product.
When a production process creates 100 defects per 100,000 units, inspectors will be needed to catch all defects and send to rework. If a process only created 5 defects per 100.000 units less time inspecting the units would be needed and as the process approached 0 defects the need for inspection would also be zero. High quality results in less Quality technicians.
Customers do look at quality as a feature. Quality is tangible to the customer. If a product can work better, look better and in the end if it lasts longer, the customer will have more value.
When a company can count on repeat business, customers advising others to buy, and lower costs than your competitors, then you have truly created a more profitable business. All based on quality.
Learn more about this author, PN Schiavone.
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