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Quality

The state of being superior to something else. For example, a good is high quality if it is more durable, tastes better, looks more appealing or is otherwise generally better than similar goods. High quality is an important aspect for many goods because it may increase sales. Most companies seek to have or make high quality products because doing so promotes repeat business. On the other hand, some companies sell low quality goods for very low prices and rely on high volume. See also: Quality control.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

quality

the totality of the attributes of a good or service which meet the requirements of BUYERS or customers. The materials which make up the product, the design and engineering of the product, product performance, reliability and durability are all important characteristics of the ‘quality package’, which ultimately influence customers to buy a product and repeat-purchase it.

Firms seek to ‘assure’ customers of the quality of their products by offering GUARANTEES/WARRANTIES covering the repair or replacement of defective items, and also subscribe to quality standards laid down by their trade associations or national/international authorities (e.g. the European Union quality standard – CE).

Product quality is an important source of PRODUCT DIFFERENTIATION, enabling firms to establish BRAND LOYALTY and COMPETITIVE ADVANTAGE over rival suppliers. See QUALITY ASSURANCE, JIDOKA, KAIZAN, HOSHIN, PRODUCT ATTRIBUTES, TOTAL QUALITY MANAGEMENT, QUALITY CONTROL, BRITISH STANDARDS INSTITUTION, BS5750, INTERNATIONAL STANDARDIZATION ORGANIZATION, ISO 9000, BALDRIDGE AWARD, EUROPEAN FOUNDATION FOR QUALITY MANAGEMENT.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

quality

the totality of the attributes of a good or service that meets the requirements of buyers or customers. The materials that make up the product, its design and engineering, product performance and reliability are all important characteristics of the ‘quality package’ that ultimately influences customers to buy a product and repeat-purchase it.

Firms seek to ‘assure’ customers of the quality of their products by offering guarantees/warranties covering the repair or replacement of defective items and also subscribe to quality standards laid down by their trade associations or national/ international authorities (e.g. the EUROPEAN UNION's quality standard ‘C₠‘).

Product quality is an important source of PRODUCT DIFFERENTIATION, enabling firms to establish BRAND LOYALTY and COMPETITIVE ADVANTAGE over rival suppliers. See QUALITY CONTROL, ZERO DEFECTS.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
The effect of dietary energy: protein ratio, protein quality and food allocation on the efficiency of utilization of protein by broiler chickens.
This is important because the promotion of "fresh first" on pet food labels is frequently used as a claim for higher protein quality in the product.
Pixley KV, Bjarnason MS (2002) Stability of grain yield, endosperm modification, and protein quality of hybrid and open-pollinated quality protein maize (QPM) cultivars.
Being a low cost coupled with better protein quality, legume proteins should be included to prepare cost effective infant foods (Isanaka et al.
Several neurodegenerative age-related disorders such as Alzheimer's, Parkinson's or Huntington's disease are linked to a decline in protein quality control.
Sometimes, these irreversible changes may lead to loss of protein quality as well as hydration, viscosity, biological activity and solubility.
Similarly, in bacteria, the HtrA2 homolog (HtrA/DegP) has a protein quality control role in the periplasmic space at elevated temperatures [87].
We should avoid high protein supply in babies, even for not fully breastfed babies today must get infant formula with less protein closer to breast milk but high protein quality, and all infants must avoid unmodified cow's milk because this has three times as much protein as breast milk," he advised.
Calculation of the efficiency of Thr was based on N-balance data and an exponential N-utilization model (Samadi and Liebert, 2006), which was adapted to describe the relationship between concentration of the limiting amino acid (LAA) (c) and protein quality (b).
New protein quality assessment methods will help increase awareness of the value of milk proteins at a time of high consumer and market interest.