ISO and Total Quality Management
Abstract
High prices are associated with high quality in the eyes of consumers, and often firms, despite reducing costs, do not reduce prices, thereby indicating: "We are better than our competitors." Such a strategy is called a differentiation strategy. Despite the above, studies confirm that consumers prefer high-quality and low-cost products. That is, if we buy the desired product cheaper than the prices on the market, we get a feeling of inner satisfaction, although what one person considers high-quality is completely unsuitable for another, only partially satisfies the third, etc.
Are they arguing about quality? What is quality anyway, and who forces manufacturers to supply quality products to the market?
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