quality Flashcards
1
Q
define quality
A
quality is about meeting the needs and expectations of customers
2
Q
advantages of quality
A
- competitive advantage in a market
- loyalty
- premium pricing
- added value/differentiation
- reduced defects/returns
- reduced price elasticity of demand
3
Q
what are the base level and trade-off of quality?
A
base level = a fit-for-purpose product that works
trade-off = between quality and price (higher quality = higher price
4
Q
consequences of poor quality
A
- product recalls = are expensive to undertake and correct
- damaged brand reputation
- legal costs of problems stemming from poor quality
