Cost Accounting Paper

In today’s society one of the biggest factors in the competitive global marketplace is a high quality product. In most businesses their goal is to create products or services and sell them to customers for a profit. These products or services must live up to a certain quality standard expected by customers. If the quality level is not met, there are consequences to face for the business. Therefore, quality is important to a business for a number of reasons. Customer and Retention is one of the reasons why quality is important. To retain customers for repeat business a company must sell products that live up to the customer's expectations. If a customer has a good experience, they are likely to come back and spend money with your business again the next time they are in need of your products or services. A customer must feel like the product or service he bought from your company was worth the price. A company's reputation relies heavily on the quality of its products or services. This is relevant to both customer reviews and company marketing. For example, high-end clothing designers or expensive car companies often set the bar high through their marketing efforts, which typically promise perfection, as well as the expensive price tags on their products. If those expectations are met by the customers who buy their products, the company maintains its reputation. Legal issues make sure the quality of the product is good to buy and use by customers. Safety is also very important of the quality of a product. The things you sell to consumers must also be safe, and not just for legal reasons. If you are in the food industry and you sell rotten food to a customer, it can lead to issues for that person. Similarly, if you sell an electronics device that has not passed safety inspections, it can lead to safety issues for the consumer, like an electrical fire or shock. Malfunctioning or unsafe products are a threat in almost every industry, and could lead to dangerous