The concept of quality - AQACosts and benefits of maintaining quality
Quality is essential to a business’ success. Customers must be happy with the products and services they receive. If they are not, a business is unlikely to gain a good reputation or repeat customers.
Maintaining quality has a range of benefits for a business. When a business can offer higher quality and lower costs, they gain a competitive advantage over similar businesses. A good-quality product or service helps to build a strong brand imageHow a business or product is perceived by others, including consumers., which can allow a business to grow its market shareThe percentage of a market taken by a particular business or product.. If a business has a product or service that gains a good reputation for being of high quality, the business can charge a premium price and make more sales. A high quality product is also likely to result in lower returns rates and less complaints.
Maintaining quality is also important in relation to costs. Mistakes are expensive, quality controlThe process of inspecting products and services to ensure that what customers receive is of a high standard. and quality assuranceThe process of managing the quality of a product where quality checks take place at several stages during production. help businesses to limit additional costs and reduce wastageLosing or destroying something by using it carelessly or extravagantly. by aiming to ensure that things are done correctly the first time. However, there are a range of additional business costs associated with maintaining quality including: inspection costs, staff training costs, product recalls, and the provision of additional services (for example additional warranties or a 24/7 telephone helpline).
