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Please share your experiences and skills which helped out to perform this.
I think it is very related with one an other.Mostly customer judge the quality of product with their prices.they think that higher price is indicator of best quality..I talked to many customer why you are paying higher price? they replied "we are paying highest for best quality.then I asked them why you think high price means best quality?then they replied "we are paying high cost because its higher price means that product is of best quality with their competitor.
Old marketing let us believe that cost and quality are not compatible or co related. it is not choose only one policy , you have to create perfect balance between both. Finding the right balance is main and problematic task.
Dear Arinjay
I have believed and share with you that Quality always comes with a Price.If Customer is looking for Quality he will ignore at times the price part.Company's who have been known for Quality products you will find their products little costlier than the me too products.
It is our duty to justify the cost of product to customer if you are confident about Quality of your Product.
Once that Trust is developed with the customer regarding the Qaulity of your Product he will never question you much for Price.
But if you are in a company where Cost is a Concern But Quality is not a concern then sure your customer is different not a high end customer who is brand and quality conscious
In my point of view i do agree with the answer given by Mr: Alamgeer
I think if one ensured total quality management in there organization then cost will be reduced, to increase quality of product not necessairy that cost will be hike because total quality management reduced the fund cost as lower amount of fund will be involved. It will reduced of cost of production as percentage of wastege will be lower, cost of rework will be reduced. For that employee satisfaction also improved and which motivate them to produced more.
Cost And Quality is not Co-Related. Each Fator is Attained at the Cost of Other One..
Though quality and cost vary inversely with one another. What the most successful business try to achieve is to be in equiliibrium position i.e. to find out the bes possible comibination of quality and cost.
Mostly businesses are succesful on one of the two grounds:
Best Quality
Cheapest Rate
The basic objective then should be to give best possible quality at a given level of cost
or, to provice the goods to the customer at cheapest possible price (lowest possible cost) at a certain level of quality.
Why not Arinjay Dadhich at one platform,it is possible in this way like
LOW COST = LOW QUALITY and HIGH COST = HIGH QUALITY basis
Good Day!!!
Cost is drectly proportional to the quality...... The art is to produce Best possible quality with a least possible cost.
When talking about quality, we need to understand the cost of quality versus the cost of not having this quality in our products, services, image, liability, trust, ... etc. Secondly, we need to inject as much quality as required (no more no less) and this is determined either by national/international standards that we are obliged to follow, contractual obligations, and/or other regulatory-mandated pressures .
