Why Product Quality Is Important In Business – Tekedia
One of the best ways to improve customer retention and build brand trust is to ensure that whatever products a business is producing, it has to have a very good equality. No one would want to patronize a business that produces low-quality products. After not being satisfied at the first trial people will be forced to look elsewhere to ensure they get the best of what they want.
Almost everyone would agree that the quality of a product is important, but not everyone has the same ideology as to what constitutes high quality. For some people what they consider a product of high-quality, is if the product is luxurious or durable while for others they consider a product quality if it is efficient or easy to use.
Regardless of the definition, product quality greatly affects a companies’ profitability. There are several things that constitute product quality;
Join Tekedia Capital Syndicate which begins April 8, 2023, and own a piece of Africa’s finest startups. By joining, you attend Tekedia Venture Investing and Portfolio Management program at no additional cost. John here.
Tekedia Mini-MBA (June 5 – Sept 2 2023) opens NEW registrations; beat early bird deadline of April 11 for discounts by registering here.
-
Is the product easy to use?
-
Is it efficient?
-
Does it solve a problem at all?
-
Is it tailored to your customers?
But then let’s look at the reasons why product quality is important.
- It brings recommendations:
No one uses a quality product and wouldn’t want to recommend it to others who are also in search of similar products. When a product has very good quality, it fuels recommendations from friends and family above all other forms of advertising because of first-hand experience. Recommendations are very persuasive because people who have used the product will give a very detailed review of it. The higher quality product a company has to offer the higher the chance they will have at driving positive reviews, and recommendations from consumers.
- It builds customers’ trust:
Without getting customers’ trust, most businesses won’t succeed. A business can’t expect high patronage if customers can’t trust them. Countless potential sales are lost when brands fail to make deeper connections with prospective buyers. One very good benefit of gaining the confidence and loyalty of consumers is that even when the price of the product is raised, they wouldn’t mind purchasing it, because they have earned their trust. This is why businesses should ensure that they produce high-quality products because it is one way to get customers to have trust and believe in what they offer. Customers always come back when a product is good even if the price is high.
- It produces a higher return on investment( ROI):
There is no disputing the fact that high-quality products bring about a high return of investment. A quality product creates unshakable customer loyalty that generates increased leads. Some brands in a bid to cut costs, produce low-quality products, thinking they have done the wise thing. They only sold themselves short because when people buy the product and are not impressed, it will definitely lead to low sales turn-out for the business. Also, improvements in performance, such as improved features or increasing any other dimensions can lead to increased sales and also give a boost to the ROI.
- There are fewer complaints and returns from Customers:
We might have had an experience where we bought a certain product and we weren’t impressed with the product, only for us to return the product disappointed. This is what happens when a brand produces low-quality products. It is usually followed with complaints and returns from customers. Every brand ought to spend more time and money upfront perfecting a product before it hits the market because it will minimize customer complaints and returns. The more successful companies are at pleasing customers during their initial experience with a product, the more likely they will be to see repeated purchases from those customers and experience little or no returns.
Conclusion
No one is ever pleased using a low-quality product because it doesn’t give them the satisfaction they expected. People always go for what gives them satisfaction no matter how high the price may be.
This is why businesses should ensure that any product they are producing for public use, should be of top quality. It doesn’t matter how much they spend in ensuring that they make the product top quality. One thing is sure that when the products reach the market it is sure to get massive sales.
Share this:
Like this:
Like
Loading…
