What is quality?

Premium and own label products can sometimes vary in price and quality whilst having different benefits and costs that suit customer needs

Quality is about meeting the minimum standard required to satisfy customer needs. High quality products meet the standards set by customers - for example, a high quality washing-up liquid can claim that one squirt is sufficient to clean a family's dirty plates after a meal. A poor quality washing-up liquid requires several squirts.

In many industries a quality standard is laid down by independent organisations such as the British Standards Institution (BSI). Firms benefit by adjusting the way they work to meet these standards. Businesses hope that the cost of improving quality will be more than covered by extra sales.