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Created on: August 09, 2009
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.
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