The quality of products refers to the qualities that a product or service can have so that it becomes satisfactory and enjoyable for the customer in all respects (in terms of the product directly).
What do I mean by all senses? sure that it doesn’t just satisfy you for a moment, but fulfills all the customer’s expectations. For example, as a customer, I can buy a mobile phone and I am happy because I can make calls, connect to the internet, etc. However, within a week the touchscreen is damaged.
This shows that the quality of the product was not the best (on the one hand I was satisfied, on the other hand not). So we can say that a quality product is one that:
- It adapts to the customer’s requirements.
- The raw material from which the product is made prevents it from being easily damaged in the environment in which it is used.
- The product or service has been prepared with excellence, experience and professionalism.
- It is safe when in use and when not in use.
However, the higher quality a product is printed, the higher the production costs are usually. Consequently, the price at which it must be sold increases. And here we are talking about the quality of the products compared to the price.
The higher the quality of the product, the higher the price. And as entrepreneurs, we are always faced with a difficult decision: do I sell a high-quality product or do I prefer low prices? If this is your situation, I invite you to read on as we will learn some very important things. And if you’re not faced with that choice, but you’re an entrepreneur, I still encourage you to read on, because eventually you will be.
Quality of products VS Low prices and their advantages
First, let’s look at the benefits that offering products at good prices has for us. Likewise, later we will see the benefits of offering low prices to conclude what is best for us.
Benefits of offering products at low prices
The first thing we have to take into account is that there are all types of customers. Just as there are those who prefer good quality over price, there are those who prefer the opposite.
So the benefits you get by offering low prices in exchange for quality depends on whether you target the right audience, which is a very important question, whether they have money to pay or if they don’t have others Have a choice to buy as medium or low quality?
In crisis countries, for example, it is very common to focus on low prices instead of quality, because although everyone wants high quality, they cannot pay!
If you understand this, the advantages of this type of products would be that more people can buy at a lower price, so sales increase. But beware! a product of medium or low quality is one thing than something useless. So if you want to offer products at a cheap price, make sure that it meets the customer’s minimum requirements.
Benefits of offering quality products
Nowadays, consumers take more time to judge the quality of products. And proof of that is the millions of questions and visits to websites to read product reviews, opinions and more. Not to mention customers who look at product labels for a long time.
In colibris.es We see very relevant statistics being shared about the importance of online opinions when buying a product. Here are the numbers:
What does that have to do with product quality? When someone is looking for opinions, it is because they are evaluating the quality of the product they are about to buy. And offering poor quality products creates bad opinions, so you lose a lot of sales.
On the contrary, offering good products leads to good reviews, which, as statistics say, increases the number of people who buy your products.
It is enough to enter stores like Amazon and see people’s comments to realize that what is said is true. Another proof of this are the famous 5 stars for websites, products… Why do you think they exist? to measure the quality of products and services and win the trust of customers.
So why is product quality good?
To generate more trust and thus win more customers. Likewise, we avoid lawsuits, lawsuits… which not only damage your reputation, but also waste time and increase stress. This plays a very important role not only for you, but also in your team. Check out:
- If your employee doesn’t really believe in the quality of your product, it will be more difficult for them to convince the customer to buy your product. And I don’t blame him: how can you compromise your image as a person (not as a company) by offering high quality when the last thing you promised said you weren’t like that?
So the best will always be to offer quality products. It will be beneficial to your brand and to everyone associated with it. Now there is a problem…
… What if it’s very expensive to offer good quality and I don’t have the money to invest? o What happens if I have to invest but the target group does not have to pay?
I can’t offer quality products, what can I do?
In this case, as already mentioned, it is advisable to offer a minimum quality that at least corresponds to the minimum requirements of the client. Likewise, you need to make sure there are people willing to pay for the quality you’re going to offer.
On the other hand, honesty is very important. If you can’t offer a quality product, don’t sell it like that, because the customer will leave you a bad comment and lose trust in you (and not only him, but everyone who heard or read it). .
Here we can see the importance of describing products, benefits, contradictions, etc. The idea is not to make your product or service look great, but to really be it. Therefore, never lose your sincerity, you will save yourself a lot of trouble.
Value for money The best!
Value for money is synonymous with saying “For the price you offer, the quality is excellent”. It does not speak of the best quality, nor of the lowest price, but of the ideal price for the quality of the product or vice versa (the right quality for the price).
While it is true that there are many people looking for high quality products and there are also many looking for low priced products… the majority of people are looking for great value for money.
And that’s what you should offer as a good bidder. I therefore invite you to delve deeper into this topic so that you can position yourself well in the market. So watch out as soon as we share the benefits of value for money and show you how to get to that level.
Nothing more to add for now. A hug! Until next time!