quality of a product

quality of a product

the ability of a product to perform its function and fulfil its expectations in terms of reliability durability, ease of operation/servicing and repair or other valued PRODUCT ATTRIBUTES. See PRICE-QUALITY TRADEOFF, QUALITY CONTROL, TOTAL QUALITY MANAGEMENT.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in periodicals archive ?
In the above specification, consumers' preferences over the quality of a product consist of two components.
To summarize, both types of consumers--quality-satisficers and quality-lovers--care about whether the perceived quality of a product is above a certain level, although we assume that there are limits to how much utility quality-satisficers get out of consuming quality, while quality-lovers continue to value incremental quality above this threshold.
Strategic information disclosure: the case of multiattribute products with heterogeneous consumers
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