Beat the Competition with Quality — Security Today

Beat the Competition with Quality

Take advantage of quality service and gain a competitive advantage through IQ certification

A business that is successful in a competitive market over a long period
of time, with repeat customers, must be providing a product
or service that meets or exceeds customer needs. This means the
company is providing quality using best business practices.

“Quality in a product or service is not what the supplier puts in. It is what
the customer gets out and is willing to pay for,” said Peter Drucker, consultant,
educator and author, whose writings contributed to the philosophical
and practical foundations of the modern business corporation.

Yet quality, according to W. Edwards Deming, American statistician, professor,
author, lecturer and consultant, is when “costs go down and productivity
goes up as improvement of quality is accomplished by better management
of design, engineering, testing and by improvement of processes.”

Obviously, quality, or the absence of it, has a strategic impact on an organization.
If quality levels are not met, there are consequences. A business may
survive, but it won’t reach its full potential.

Overall, quality ensures that you’ll have loyal customers who return for
add-ons and recommend your company to others. You’ll have a strong brand
reputation for quality, you won’t be competing on price, you’ll reduce costs
with fewer returns and replacements, and you’ll attract and retain good staff.
This is why many business segments have adopted quality initiative programs
in manufacturing, retail and service.

So, if you want to reach your company’s full potential and would like to
beat the competition, how do you do it?

Price or Value?

Most businesses compete on either price or value, the importance, worth
or usefulness of something compared to the price paid or asked for it. Lowpriced
items are generally considered cheap while more expensive ones are
considered better quality. The question consumers typically ask themselves is:
“Are we getting good value for our money?”

The customer must be satisfied that the price fairly reflects the quality.
Consumers will base their purchase decision on price, if they are presented
with no other means of comparison between perceived similar products. In
this situation, the consumer makes their purchase decision by simply comparing
the various offers.

For instance, basing your decision solely on value, which car would you
prefer? Any compact brand or a BMW convertible? Most people would select
the BMW because of its perceived value. If the cost of the purchase is
removed, the majority will overwhelmingly select the product or service with
the perceived highest value.

Ultimately, price helps people judge quality, then make a decision based
on the value. Prove to the consumer that you are offering them a better value
for the price offered, and you become the perceived better choice. Consumers
want to know that they are spending their money wisely, and quality provides
that value. Offering consumers the price, as well as documented value, allows
them to make a decision based on multiple factors.

This article originally appeared in the October 2013 issue of Security Today.