Have you ever wondered why high-quality products or goods last longer than the low-quality ones? Do you know the reason why the rich buy quality products and still remain rich? Have you ever thought of internalizing the saying "cheap is expensive"? Well, in this article you will be able to distinguish the different factors that show how does quality cost less in long-term.
On the other hand, when the quality of the products delivered is poor, this results to loss of customers therefore in order to win the customers back a lot of marketing must be done. For instance, if a certain company offers poor quality medicine to customers the customers will seek another best alternative even if the cost is high and winning them back after such an incidence will be costly.
Another factor that tries to show the benefit of quality in the long-term is the fact that quality products produce fewer complaints from the customers and also the number of returns. An example is when a pharmaceutical industry produces low-quality drugs. This will lead to a high number of complaints and also a lot of returns from the customers. When this happens the industry will either produce quality drugs for them free or even return the amount that each customer used to purchase those drugs. This would not be the case if the initial drugs were of high quality.
This means that fewer resources are needed in the marketing of the product. For instance, if a person A gets the flu and buys a drug from an industry X and the flu gets cured fast, if a friend of A is affected by the flu will automatically buy the drug from industry X.
Related: What Does Quality Really Mean for Pharmaceuticals?
Poor quality products may in serious cases incur legal costs for failing to comply with the industry or customers standards. An example, a patient takes drugs from a certain industry to cure a disease. The drug is of poor quality and the patient dies and tests shows that the death was as a result of the drug. The affected family may sue the industry that manufactured the drug and in case the ruling favors the accuser the industry have to incur all the legal charges and compensation.
Another factor that tries to show the benefit of quality in the long-term is the fact that quality products produce fewer complaints from the customers and also the number of returns. An example is when a pharmaceutical industry produces low-quality drugs. This will lead to a high number of complaints and also a lot of returns from the customers. When this happens the industry will either produce quality drugs for them free or even return the amount that each customer used to purchase those drugs. This would not be the case if the initial drugs were of high quality.
This means that fewer resources are needed in the marketing of the product. For instance, if a person A gets the flu and buys a drug from an industry X and the flu gets cured fast, if a friend of A is affected by the flu will automatically buy the drug from industry X.
Related: What Does Quality Really Mean for Pharmaceuticals?
Poor quality products may in serious cases incur legal costs for failing to comply with the industry or customers standards. An example, a patient takes drugs from a certain industry to cure a disease. The drug is of poor quality and the patient dies and tests shows that the death was as a result of the drug. The affected family may sue the industry that manufactured the drug and in case the ruling favors the accuser the industry have to incur all the legal charges and compensation.
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