ENTREPRENEURSHIP

Detailed explanation-1: -Quality is the the ability of a product or service to meet a customer’s expectations for that product or service. The manufacture/distribution of a product/service which provides both tangible(quality product/service, low cost$$$) and intangible(customer satisfaction) value to the internal and external customer.

Detailed explanation-2: -Broadly defined, quality refers to the ability of a product or service to consistently meet or exceed customer requirements or expectations. Different customers will have different expectations, so a working definition of quality is customer-dependent.

Detailed explanation-3: -Gilmore [1974] Quality is the degree to which a specific product satisfies the wants of a specific consumer.· Kuehn & Day [1962] In the final analysis of the marketplace, the quality of a product depends on how well it fits patterns of consumer preferences.