Why Is Quality Important for business in China?
"Quality is important because improving quality improves business."Dr. W. Edwards Deming developed the Quality Chain Reaction.
Managing quality is crucial for small businesses. Quality products help to maintain customer satisfaction and loyalty and reduce the risk and cost of replacing faulty goods. Companies can build a reputation for quality by gaining accreditation with a recognized quality standard, such as ISO 9001, published by the International Organization for Standardization.
Your customers expect you to deliver quality products. If you do not, they will quickly look for alternatives. Quality is critical to satisfying your customers and retaining their loyalty so they continue to buy from you in the future. Quality products make an important contribution to long-term revenue and profitability. They also enable you to charge and maintain higher prices.
Capture the Market
Quality influences your company’s reputation. The growing importance of social media means that customers and prospects can easily share both favorable opinions and criticism of your product quality on forums, product review sites and social networking sites, such as Facebook and Twitter. A strong reputation for quality can be an important differentiation in markets that are very competitive. Poor quality or a product failure that results in a product recall campaign can create negative publicity and damage your reputation.
Reduce CostsAs quality improves, costs are reduced because waste is minimized.
As costs are reduced, fewer of the organization's resources are spent producing defective goods and services, leaving them free to be devoted to work that adds value.
Stay in BusinessCapturing the increasing market helps ensure the long-term viability of the organization.
"According to the Chron, the business website of the Houston Chronicle, the quickest way for a business to ruin its reputation is to create and sell poorly constructed, low-quality products to its customers. Customers always expect quality when purchasing items, and if they are not satisfied with one company's products, they will seek alternatives. Businesses that sell high-quality products are likely to retain their customers and enjoy repeat business. Highly satisfied customers are also likely to recommend a company's products or services to others."