People's perceptions of quality
Nearly half of people we spoke to reported a drop in the quality of goods and services compared to 12 months ago:
of respondents believe that quality is decreasing in most or all cases
respondents believe that some businesses are sacrificing quality to remain cost competitive
feel that companies are managing to maintain the levels of quality
Prices are higher, but so are expectations. People are resigning themselves to things being more expensive, but they want better products and service for that extra cost. Businesses need to balance how much they are prepared to sacrifice quality over price.
Ideagen advice
It’s important to understand your customers’ quality expectations. Do they expect fair trade? Ethical practices? Is it safer? More durable? Adopting tools such as a quality management system that supports reporting across these key value drivers not only improves your position with customers, but also competitors and investor communities too. Look for providers that can also offer learning management solutions to ensure your ongoing training needs are met and any training gaps are proactively identified to ensure standards are maintained.