quality

(noun)

the ability of a product or service to consistently meet or exceed customer requirements or expectations.

Related Terms

Examples of quality in the following topics:

  • Quality

    • Consumers place a value on quality; therefore high quality products may be able to win share and/or command a price premium.
    • Product qualities can be divided into two main categories:
    • Quality Control - controlling a process to ensure that the outcomes are predictable.
    • For manufacturers of products, it is commonly stated that "quality drives productivity."
    • Identify the attribute of quality at the design stage as a differentiating factor

  • Product Quality

    • The Mercedes-Benz SLR McLaren is a high quality car.
    • Return on quality (ROQ) - an approach that evaluates the financial return of investments in quality
    • Successful management of quality requires that managers have insights on various aspects of quality.
    • These include defining quality in operational terms, understanding the costs and benefits of quality, recognizing the consequences of poor quality and recognizing the need for ethical behavior.
    • The Mercedes-Benz SLR McLaren has a reputation for extremely high quality, and it's hand made engine is a sign of this quality.

  • Product Orientation

    • A firm employing a product orientation is chiefly concerned with the quality of its product.
    • A firm employing a product orientation is chiefly concerned with the quality of its product.
    • Consumers recognize product quality and differences in the performance of alternative products.
    • Consumers choose between different products based on getting the best quality for the price paid.
    • Companies adopting a product orientation of marketing focus on product quality and therefore emphasize research and development.

  • Heterogeneity

    • Heterogeneity of service quality does not imply that no two customers can receive great service, it just means that no two transactions can be repeated identically.
    • It is the quality of the service that will essentially set two competing firms with similar products and services apart.
    • However, too much customization would compromise the standard delivery of the service and adversely affect its quality.

  • Delivering Excellent Service Quality

    • The core task of a business is to ensure that customers come back, which can be done by delivering excellent service quality.
    • Examples of excellence in service quality include personalized service, good return policies, complaints desks and hotlines, being able to speak to a human being when calling for service, and so on.
    • Examples of excellence in service quality include personalized service, good return policies, complaints desks and hotlines, being able to speak to a human being when calling for service, and so on.

  • Measuring Vendor Performance

    • Firms can measure vendor quality, service, availability, and overall reliability to determine future engagement with the vendor.
    • This examines the quality, design, and materials, with the intention of finding cost savings opportunities.
    • This focuses on price, quality, service, availability, and overall reliability.
    • Supplier certification teams help selected suppliers reach desired levels of quality, reduce costs, and improve service.

  • Intangibility

    • However, it is possible to give tangible proof for the quality of service, such as through state test scores.
    • To reassure the buyer and build his confidence, marketing strategists need to give tangible proof for the quality of service.
    • For example, in the case of two fast food chains serving a similar product (Pizza Hut and Domino's), it is the service quality, not the actual product, that distinguishes the two brands from each other.

  • Social Classes

    • Generally, the rich have the ability to purchase more consumer goods than those with less income, and those goods are of higher quality .
    • If a marketer wishes to target efforts toward the upper classes, then the market offering must be designed to meet their expectations in terms of quality, service, and atmosphere.
    • For example, the upper-middle class are generally ambitious, future-oriented people who have succeeded economically and now seek to enhance their quality of life.

  • Product Line Pricing

    • The customer would not be able to judge quality differences as reflected by such small increments in price.
    • As costs change, the prices can remain the same, but the quality in the line can be changed.
    • You can buy a $20 tie today, but it is unlikely that today's $20 tie is of the same fine quality as it was in the past.

  • The Importance of Price to Marketers

    • A firm that wants to indicate that it offers products of the highest quality will charge a high price.
    • A high price indicates high quality.
    • Louis Vuitton has continued to perform well in the midst of a financial crisis because it offers high quality products and its prices reflect this fact.
    • A high price indicates high quality.