In a global market saturated with products, does quality still matter to business and its customers? Definitely yes, perhaps more so now than ever before. So, why is it so important?
Customer expectations
It doesn’t matter what the industry is, customers all have expectations and are likely to choose a company based on not just price but quality of product too. Research has shown that customers will pay more for a product they trust to be top quality as they perceive it as well made and exceeding basic standards.
Build your reputation
The reputation of a business is built on quality. With the ever-increasing use of social media, customers can instantly review a product, either favourably or negatively. Holding up a high standard of quality can make all the difference in a competitive market. You only have to think of the hugely damaging impact of product recalls on a company’s reputation to see how important quality standards are. For high end, bespoke Rubber Moulding UK, visit a site like Meadex
Effective cost control
Cutting costs in terms of quality will ultimately result in paying more in the long term. Whether it’s a recall, continual returns and replacement, the cost of examining defective products or redesigning and retesting, poor quality leads to increased costs. By meeting and exceeding industry standards, you can avoid these pitfalls.
Satisfied customers
When you are consistently not meeting customer expectations, it won’t take them long to look elsewhere for their products or services. Quality makes all the difference in a crowded global market.