Quality: A Multifaceted Concept and Its Relationship with Price

Quality, a concept central to various fields, can be elusive to define definitively. However, several experts offer valuable insights into its nature and its connection to price. Here’s an exploration of quality with the help of established authorities:

• Joseph M. Juran (1992) in “Juran on Quality by Design”: Juran, a renowned quality management expert, defines quality as “fitness for use.” This definition emphasizes that quality is not inherent in a product or service, but rather its ability to meet the needs and expectations of the customer. Juran’s perspective helped me understand quality from a customer-centric viewpoint.
• A. Feigenbaum (1991) in “Total Quality Control”: Another quality management pioneer, Feigenbaum defines quality as “a conformance to requirements.” This definition highlights the importance of meeting established standards and specifications. Feigenbaum’s definition complemented Juran’s by emphasizing the role of defined criteria in achieving quality.
• Richard B. Chase (1995) in “Dimensions of Service Quality”: Chase, a marketing professor, identifies five key dimensions of service quality: reliability, responsiveness, assurance, empathy, and tangibles. This framework helped me understand the specific attributes that contribute to quality, particularly in the service sector.

The Price-Quality Relationship: Not Always Linear

The relationship between price and quality is often assumed to be positive – a higher price signifies better quality. However, experts offer a more nuanced perspective:

• Garvin (1984) in “What Does ‘Quality’ Mean?”: David A. Garvin, a quality management expert, argues that the price-quality relationship can be complex. He suggests that for certain products, a high price might not always guarantee superior quality, and vice versa. Garvin’s insights helped me understand that the relationship can be influenced by factors like brand reputation, perceived value, and market competition.
• Theodore Levitt (1983) in “The Globalization of Markets”: Marketing guru Theodore Levitt emphasizes the importance of “value” in the price-quality equation. He argues that customers seek the best value proposition – a balance between price and the quality they receive. Levitt’s perspective helped me understand that price isn’t the sole factor; it’s the perceived value that drives purchase decisions.

Conclusion

Quality is a multifaceted concept encompassing customer needs, adherence to standards, and specific attributes. Its connection to price is not always straightforward. A customer-centric approach, considering both objective quality and perceived value, offers a more comprehensive understanding of the price-quality relationship.

The research from these experts provided a solid foundation for understanding the complexities of quality and its relationship with price. Their diverse perspectives helped me analyze the concept from different angles, leading to a more well-rounded understanding.