Following are some of the factors which affect product quality:
Money – Thereâ€™s a positive relationship between the money involved in the production and the quality of the product, i.e., the higher the amount of money invested, and the better the quality of the product, the lower the amount of money invested lower the quality of the products.
Materials – The quality of materials that a product is made of determines its quality. For example, clothes made of silk are of higher quality than clothes made of simple cotton. This is true for products like vehicles, electronic devices, etc. as well.
Management – The top management of a company must set the standards of the quality of the products and must make sure these standards are strictly adhered to. Lackadaisical management can often be the reason behind the fall of a productâ€™s quality.
People – People involved in the production process must be of the top tier. They must have the knowledge, creativity, and experience to produce a top-quality product.
Market – Before so much effort and money are invested in a product, a company must ensure demand for the product in the market. Otherwise, all of it is a futile exercise.
Machines and methods – New technology makes it possible to produce higher quality products.
Methods to Define Quality
Methods to define quality are as follows:
Product-based Approach – In this approach, quality is looked at as a quantifiable outcome that depends on the amount and type of raw materials used in manufacturing. According to this approach, all similar products can be ranked precisely based on their qualities. This approach implies that the quality of the product is perfectly correlated with the cost of manufacturing the product.
User-based Approach – In this method, the quality of the good is considered more subjective and depends on the gaze of the customers. Therefore, it implies that different customers can have different preferences. It is based on the assumption that the needs and the wants of customers are different.
Manufacturing-based Approach – This approach looks at the productâ€™s quality from the manufacturerâ€™s perspective. According to this approach, the quality of a product depends on how strictly it stays true to the product the manufacturer had in mind before the production started.
In this approach, a well-made Ferrari is of equal quality to a well-made Ford if they both conform to the manufacturerâ€™s requirements.
Value-based Approach – This approach basis the quality of the product on its cost and price. Therefore, a quality product performs well relative to its price. This approach mixes the quality of a product with the value it provides to customers.
According to this approach, Balenciaga sneakers worth more than $1000 are not of good quality since they do not provide enough value relative to their price.
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