Importance of Product Quality

                                        

Almost everybody would agree that product quality is important. 
 
It not only affects the purchasing decisions and profitability of a brand but also earns customer loyalty and helps establish brand recognition. 
 
What is product quality?
 
For a product to have any real value, it has to have some quality. In other words, product quality describes a product’s capability to satisfy customer needs. By doing that our products can be a source of value. 


Reasons product quality is important
 
1. Build trust with your customers
 
Regardless of what industry you are involved in, your customers are not going to select you solely based on price, but often on quality. 
 
Ensuring high-quality products is one way to help a brand get consumers to appreciate and believe in what a brand has to offer. Customers will pay more for a product that they think is made well or exceeds the standard. 
 
Quality products make an important role in satisfying your customers and retaining their loyalty so they continue to purchase from you in the future. 


2. Establish a reputation
 
Most people trust recommendations from friends and family members above all other forms of ads when making a purchase decision. This is why nothing comes close to beating reputation when it comes to influencing consumers. 
 
The higher-quality product a brand has to offer, the better opportunity it will have at driving positive reviews and shares between consumers. 
 
other consumers that see a brand’s strong reputation will want to become part of the product or service you are offering, which can boost your sales. 


3. Fewer customer complaints and returns
 
We might have had an experience where we bought a product and were not impressed with the product, only for us to return or complain about the product disappointed. 
 
Returns and complaints can result in significant long-term financial losses and affect the customer experience, they may also hurt a brand’s reputation. Even worse, they will take to the internet and leave a bad review about a brand, warning other people not to buy from you. 
 
Every brand ought to spend more time and money upfront improving a product before it hits the market because it will minimize customer complaints and returns. 


4. Produce higher return on ROI
 
There is no disputing the fact that there is a strong positive association between quality and ROI. 
 
Having fewer defects or field failures results in lower service costs as well as manufacturing. As long as these gains exceed any increase in expenditures by the brand on defect prevention, ROI will improve. 


5. Manage costs effectively
 
In some cases, a brand may have to scrap defective products and pay additional production costs to replace them. In serious cases, a brand could incur legal costs for failure to comply with customer or industry standards. 
 
A quality product will require less rework down the road, causing cost savings and fewer warranty claims.