ENTREPRENEURIAL OPERATIONS
QUALITY CONTROL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which two of the following are benefits to a business of providing high quality products?
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Costs increase
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Lower profit margins
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Higher prices can be charged
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Business gains a good reputation
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Less repeat custom
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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: -Increase customer loyalty Quality is the foundation of a business and is the key to keeping customers satisfied. If a business’ product meets and exceeds the customer’s expectations, then it is highly likely that the customer will continue to purchase that product.
There is 1 question to complete.