The quality of a good or service can never be over emphasized. It is not enough to have a business venture up and running, it is important to understand the concept behind having a qualitative product. Ignoring the quality of a product or service can cost you even more at the end of the day. As the economy faces a down low continuously, it has become a major challenge to have a balance between good quality product or service and an affordable price. The price and quality of a product, if not properly managed and controlled could have a down side effect on a business in the long run. Here are some major importances of quality in a business venture.
Improvement of brand reputation and image: one is the most important advantages of qualitative product is that it helps to achieve good brand reputation. Becoming a household name within a short period of time in the market is a noticeable achievement which a good quality can help facilitate. Quality assures you a good market reputation and distinguishes you among competitors.

Meeting accredited standards: some products like health care products, food products have accredited standards by governments. Inability to maintain these expected standards can pose a threat to intending customers and the nation as a whole. Complying with this standards and rules is essential for the growth of the business.
Retaining loyalty in customers: customer’s loyalty is guaranteed for your products and services if you are known for providing good quality. It is important for satisfying customers. Customers won’t be back if the quality of product or service is poorer than their expectations.

Reduction of damage controls: when a business venture is consistent at giving their best in the aspect relating to quality, there is little or no needs for spending extra cost on damage control or replacements which often happens when there is a low quality product or service execution.
Cost reduction: poor quality ends up increasing cost. The cost of repairing or replacements will end up increasing the total cost of the product which could have been avoided initially. This is why there is need for quality control system for business venture. Low quality products can also have legal penalties on business owners.