Introduction

The quality of a product is a major selling point for any business. Customers thrive on a quality product that can solve their problems.

Quality check is an ongoing process from raw material to the final product.

Organizations constantly monitor quality control at every stage of production.

Importance of Quality

Quality is a strategic tool that could help reduce the customers’ complaints. Quality check helps the organization to have an eye on their mistakes to rectify them for a seamless consumer experience.

Organizations are using it as a weapon to combat competition and to have an increased market share.

A quality product in the product line will always increase the market share by attracting more customers.

Performance

The performance of a product makes it able to compete in the market. Most customers set the performance as the benchmark to buy a product. A well-performing product has different characteristics for different categories. 

Features

Customers want that extra value addition in a product with the primary usage. Those features with the primary can prove to be the deciding factor to purchase that product. Companies use additional features as a tool to fulfill the different requirements of the customers.

Reliability

A customer wants to buy a product for a longer time. They try to find a product with the least failure rate. A reliable product can get the organization that extra edge above all.

Serviceability

Serviceability refers to how easily a product can be back to operational form after the service. Customers need a quick solution to their problems. The seamless serviceability process earns those extra points for the organization.

Problem-solving process of an organization.

Identifying a problem

If you want to launch your product, you need to have some problem-solving element, or nobody wants to buy your product.

Consumers also do market research. They want the best value for the price they are paying.

Whenever consumers do market research for the product they want to buy, they are looking for a solution to their problem.

For example: if a person has a stiff back while working, they will find a comfortable chair.

 You need to solve this problem by making a chair as per their needs.

Customers are very solution-oriented beings. If an organization achieves customer satisfaction, it will be helpful in customers retention. It is also great for word-of-mouth publicity.

Finding the targeted audience

The consumer is doing his market research, so why not you?

Market research plays a significant role for the business as it helps in finding the audience demographic.

Consumer needs are based on the conditions around them. 

For instance, a person living in a colder climate will be less likely to demand an air conditioner than someone living in a warmer place.

First of all, target your audience as per their intent, demographic conditions, and resources available.

Market research will help you find your potential customers. Organizations use market research to make the organization aware of their competition. Market research is also helpful in competitor analysis.

Market research and competition analysis will give you enough data to perform a SWOT analysis.

Solution:

As we have identified the problem and also did our market research.

 It is the time to serve our customers with the desired solution to their problems.

Customers want to have their life as simple as possible. Make their lives simple with your product.

For example: If your audience is a big-time food lover but also wants to track those calories to stay fit, you can try to find out the source to make your food healthy yet tasty, like providing them with the option of having a sandwich of brown bread instead of white bread.

These things may look insignificant for a shorter period, but they will make your customers feel special.

Demand prediction

Demand forecasting is yet another way of predicting the intent of the consumer.

The motive of an organization is to create a product that suits their targeted audience. customers tend to demand certain products per their needs.

An organization with a plan to survive and earn want their product to meet the customer requirements.

Customer demand shows no pattern as it changes with certain factors like seasonality, taste and preferences, price of substitute goods, and many more.

For instance, demand for raincoats will be higher in the rainy seasons than in summers.

One of the prominent factors for customers’ demand is price.

Price and demand are inversely related to each other.

The more the price, is less likely it is that a large audience will buy the product. Companies should consider the price sensitivity e of their targeted audience before pricing.

Organizations need to have a close eye on the demand to act.

Customers demand certain items, and companies adjust their production as per the buyers’ willingness to buy that product.

Organizations take care of demand in the present time and forecast demand from the future to increase or decrease production to avoid any surplus or deficit of stocks in the market.

Forecasting is the practice of calculating the predictions that can be used in the decision-making process. These estimates can be long-term for the overall demand and short-term for any particular product.