improving the quality of my product should mean i increase the price for compensation
2007-02-11 00:05:59 · 15 answers · asked by Hazem 1 in Business & Finance ➔ Corporations
it would depend, did improving the quality raise the cost of production? or are you able to improve the quality while keeping cost down,,,,, sometimes quality increase is due to begining with higher grade materials (which yes often increases price unless you are able to shop around for deals),,,,, other times quality improves by the care taken during production, or by carefully selecting employees,,,, or by the storing/shipping methods
2007-02-11 00:11:37 · answer #1 · answered by dlin333 7 · 1⤊ 0⤋
Heavens no.
Price and quality may be related, but are not linked.
The quality of a $15 cellular phone is far greater than the quality of a $200 cellular phone from ten years ago.
The quality of a $19,000 Hyundai car is greater than the quality of a $38,000 Ford.
You have to decide what is a fair profit margin, but that is based on your own production numbers, and not on the quality of your merchandise ... that quality should be as high as possible to increase demand for the product.
So, short answer, no. Unless the cost of production increases, improving your product should not mean an increase in "compensation."
2007-02-11 00:12:38 · answer #2 · answered by Grendle 6 · 1⤊ 0⤋
Some times.
2007-02-11 00:13:56 · answer #3 · answered by Anonymous · 0⤊ 0⤋
depends on whether your product significantly benefits from the improvement of quality. Also, if there is another product out there that performs just as well as your current product, and costs the same, you may lose business to that competiting product because of the price increase.
2007-02-11 00:09:58 · answer #4 · answered by Seurat 2 · 0⤊ 1⤋
you get what u paid for. you should make a higher quality product if u can. i'll pay higher price for higher quality product or service
2007-02-11 00:22:00 · answer #5 · answered by ? 6 · 0⤊ 0⤋
Sometimes quality means higher prices but sometimes not. It depends on product and supply demand and equilibrium price.
2007-02-11 00:11:18 · answer #6 · answered by xeibeg 5 · 0⤊ 1⤋
100% higher price = 50% better quality.
2007-02-11 00:09:58 · answer #7 · answered by daydreamer 3 · 0⤊ 1⤋
Yes, and that is what most companies do. Like the old saying goes, you get what you pay for.
2007-02-11 00:14:17 · answer #8 · answered by WC 7 · 0⤊ 0⤋
Yes most of the time
2007-02-11 00:08:04 · answer #9 · answered by Anonymous · 0⤊ 1⤋
no.well maybe a lil bit...but if people find that your quality is good and your prices are low theyll come 2 buy stuff from you...
2007-02-11 00:08:30 · answer #10 · answered by bad to the bone 5 · 0⤊ 1⤋