Describe two benefits of improving quality.

Question

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Answer 1

Textbook Question

Chapter 19, Problem 19.1Q

Describe two benefits of improving quality.

Expert Solution & Answer

To determine

Quality

Quality is the special trait possessed by a product that satisfies the needs and wants of the consumers of that product.

To determine: Benefits of improving quality.

Answer to Problem 19.1Q

The benefits of improving quality are following:

Improvement in quality reduces the cost of production of a product.
Fine quality of goods provides more satisfaction to its consumers.
Good quality products generate regular incomes and higher long term revenues for the firm.

Explanation of Solution

Quality of a product signifies the special characteristics and attribute possessed by that product.
Today, managers are finding new and innovative ways to reduce their cost of production and enhance the quality of their product to gain market share and goodwill.

Conclusion

Hence, a quality product provides satisfaction to its customers and generates high revenues for their company.

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Answer 2

Textbook Question

Chapter 19, Problem 19.1Q

Describe two benefits of improving quality.

Expert Solution & Answer

To determine

Quality

Quality is the special trait possessed by a product that satisfies the needs and wants of the consumers of that product.

To determine: Benefits of improving quality.

Answer to Problem 19.1Q

The benefits of improving quality are following:

Improvement in quality reduces the cost of production of a product.
Fine quality of goods provides more satisfaction to its consumers.
Good quality products generate regular incomes and higher long term revenues for the firm.

Explanation of Solution

Quality of a product signifies the special characteristics and attribute possessed by that product.
Today, managers are finding new and innovative ways to reduce their cost of production and enhance the quality of their product to gain market share and goodwill.

Conclusion

Hence, a quality product provides satisfaction to its customers and generates high revenues for their company.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Textbook Question

Chapter 19, Problem 19.1Q

Describe two benefits of improving quality.

Expert Solution & Answer

To determine

Quality

Quality is the special trait possessed by a product that satisfies the needs and wants of the consumers of that product.

To determine: Benefits of improving quality.

Answer to Problem 19.1Q

The benefits of improving quality are following:

Improvement in quality reduces the cost of production of a product.
Fine quality of goods provides more satisfaction to its consumers.
Good quality products generate regular incomes and higher long term revenues for the firm.

Explanation of Solution

Quality of a product signifies the special characteristics and attribute possessed by that product.
Today, managers are finding new and innovative ways to reduce their cost of production and enhance the quality of their product to gain market share and goodwill.

Conclusion

Hence, a quality product provides satisfaction to its customers and generates high revenues for their company.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Textbook Question

Chapter 19, Problem 19.1Q

Describe two benefits of improving quality.

Expert Solution & Answer

To determine

Quality

Quality is the special trait possessed by a product that satisfies the needs and wants of the consumers of that product.

To determine: Benefits of improving quality.

Answer to Problem 19.1Q

The benefits of improving quality are following:

Improvement in quality reduces the cost of production of a product.
Fine quality of goods provides more satisfaction to its consumers.
Good quality products generate regular incomes and higher long term revenues for the firm.

Explanation of Solution

Quality of a product signifies the special characteristics and attribute possessed by that product.
Today, managers are finding new and innovative ways to reduce their cost of production and enhance the quality of their product to gain market share and goodwill.

Conclusion

Hence, a quality product provides satisfaction to its customers and generates high revenues for their company.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

To determine

Quality

Quality is the special trait possessed by a product that satisfies the needs and wants of the consumers of that product.

To determine: Benefits of improving quality.

Answer to Problem 19.1Q

The benefits of improving quality are following:

Improvement in quality reduces the cost of production of a product.
Fine quality of goods provides more satisfaction to its consumers.
Good quality products generate regular incomes and higher long term revenues for the firm.

Explanation of Solution

Quality of a product signifies the special characteristics and attribute possessed by that product.
Today, managers are finding new and innovative ways to reduce their cost of production and enhance the quality of their product to gain market share and goodwill.

Conclusion

Hence, a quality product provides satisfaction to its customers and generates high revenues for their company.

Answer 8

Expert Solution & Answer

To determine

Quality

Quality is the special trait possessed by a product that satisfies the needs and wants of the consumers of that product.

To determine: Benefits of improving quality.

Answer to Problem 19.1Q

The benefits of improving quality are following:

Improvement in quality reduces the cost of production of a product.
Fine quality of goods provides more satisfaction to its consumers.
Good quality products generate regular incomes and higher long term revenues for the firm.

Explanation of Solution

Quality of a product signifies the special characteristics and attribute possessed by that product.
Today, managers are finding new and innovative ways to reduce their cost of production and enhance the quality of their product to gain market share and goodwill.

Conclusion

Hence, a quality product provides satisfaction to its customers and generates high revenues for their company.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

To determine

Quality

Quality is the special trait possessed by a product that satisfies the needs and wants of the consumers of that product.

To determine: Benefits of improving quality.

Answer 12

Answer to Problem 19.1Q

The benefits of improving quality are following:

Improvement in quality reduces the cost of production of a product.
Fine quality of goods provides more satisfaction to its consumers.
Good quality products generate regular incomes and higher long term revenues for the firm.

Answer 13

Explanation of Solution

Quality of a product signifies the special characteristics and attribute possessed by that product.
Today, managers are finding new and innovative ways to reduce their cost of production and enhance the quality of their product to gain market share and goodwill.

Answer 14

Conclusion

Hence, a quality product provides satisfaction to its customers and generates high revenues for their company.

Answer 15

Ch. 19 - Describe two benefits of improving quality.Ch. 19 - Prob. 19.2Q Ch. 19 - Name two items classified as prevention costs.Ch. 19 - Give two examples of appraisal costs.Ch. 19 - Distinguish between internal failure costs and...Ch. 19 - Describe three methods that companies use to...Ch. 19 - Companies should focus on financial measures of...Ch. 19 - Give two examples of nonfinancial measures of...Ch. 19 - Give two examples of nonfinancial measures of...Ch. 19 - When evaluating alternative ways to improve...

Describe two benefits of improving quality.

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Answer to Problem 19.1Q

Explanation of Solution

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Chapter 19 Solutions