BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Why is the quality level of a product an important product/service management decision? It reflects the image of the business. It protects the consumers. It refers to the way the product works.

Detailed explanation-2: -Product quality is important because it affects the success of the company and helps establish its reputation in customer markets. When companies can create high-quality products that continue to meet customer demands, it can lead to fewer production costs, higher investment returns and increases in revenue.

Detailed explanation-3: -Quality is Critical to Satisfied Customers Quality is critical to satisfying your customers and retaining their loyalty so they continue to buy from you in the future. Quality products make an important contribution to long-term revenue and profitability. They also enable you to charge and maintain higher prices.

Detailed explanation-4: -Product quality is the extent to which a good service or combination thereof solves a problem or meets a need. For a product to have any real value, it has to have some kind of quality or, hopefully, a high level of quality. In other words it needs to actually solve a problem for the consumer or meet a need.

Detailed explanation-5: -Product service management is a marketing function whose objective is to keep track of customer and market need fluctuations and inform product development. In smaller companies, product service management responsibilities are covered by product managers.