The quality of a product or service refers to the ability of a good or service to meet the customer’s needs, satisfy them and serve its purpose. The product or service quality of an item may either be good or bad. Some products and services are of high quality like products by Nike, Toyota, Apple, and Samsung. Some high-quality services include services by Hilton Hotels, Cox Communications, and South West airlines. However, some products have poor quality products like Xiaomi phones, Alfa Romeo cars, and Johnsons & Johnsons baby powder. Poor quality services include services by AT&T Telecommunications, Lastminute.com, and AOL.
Companies that provide better quality products and services tend to be more successful compared to their counterparts. By providing high-quality products, companies gain customer loyalty and satisfaction as their expectations and needs are met (Rashid & Rokade, 2019). This increases the sales of products leading to higher returns and profit margins and may lead to global recognition and entry into the global market.
In cases of services, high-quality service providers are likely to be more successful. This happens since customers will shift to where their services are good and satisfying. For example, in banking services, if a bank has low-quality services, it is likely customers will transfer to a better service provider (Rohman, 2018). This will lead to a loss of customers and income for the bank but instead boost the income of the bank they transferred to, making it successful.
When customers purchase a high-quality product, they are likely to recommend it to other people and even repurchase it when needed (Anjani, 2021). This means that the company will continuously manufacture the product or even provide the service as there is a ready market for its products. During the purchase of items, consumers are likely to consider the durability of the item (Mashao & Sukdeo, 2018). Good quality products mean that they are also durable thus boosting the sales of high-quality providers.
Companies should therefore strive to provide high-quality products and services to gain customer loyalty. This will in turn boost their sales, increase profit margin, and their chances of success in the business.
References
Anjani, A. P. (2021). Analysis of Product Variation and Service Quality on Repurchase Intention Mediated by Customer Satisfaction. International Journal of Review Management Business and Entrepreneurship (RMBE), 1(2), 295-309.
Mashao, E. T., & Sukdeo, N. (2018). Factors that influence consumer behavior in the purchase of durable household products. In Proceedings of the International Conference on Industrial Engineering and Operations Management (pp. 26-27).
Rashid, A., & Rokade, V. (2019). Service quality influence customer satisfaction and loyalty. UKH Journal of Social Sciences, 3(1), 50-61.
Rohman, F. (2018). The influence of price perception, service quality, and variation behavior on electronic banking.