ENTREPRENEURIAL OPERATIONS
QUALITY CONTROL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which one of the following is not a benefit to a firm from producing quality products:
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customers loyalty is likely to be high
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all customers will be prepared to pay high product prices
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customers may tell other people about the products
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the costs of returns and product failures is likely to be low
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Explanation:
Detailed explanation-1: -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-2: -Drucker wrote without equivocations that quality in a product or service is not what the supplier puts in. It is what the user gets out of it. Users want only what they can use and what gives value to them. I emphasize “to them.” Value is as they perceive it, not what the supplier may think.
There is 1 question to complete.