What is the concept of quality? How does it relate to TQM?
Quality is defined internally from the firm's point of view and is measured in terms of compliance with predetermined products specifications or standards and with minimum defects. In other words, if the product is delivered to the customer in a manner that fills the needs.
Total quality management TQM is a corporate strategy, a strategy of the company as a whole, which focuses total company effort on manufacturing superior products that satisfy customer needs with continuous technological improvement and zero defects.
Companies competing with this strategy must therefore have the "best engineered" product on the market, and focus on monitoring customer's changing requirements as well as competitive offerings and then adjust product offerings to suit the current demand. "May the best product win."
Learn More :
International Marketing Strategies
- What does the framework 4P stand for?
- What are some of the reasons for adaptation?
- What is International Marketing?
- What is the product life cycle?
- What is meant by relationship marketing and how is it different from traditional marketing?
- What is the importance of collaborative relationships to competition?
- How valuable is branding for a consumer products company?
- What are the three points that define a global approach to international marketing?
- What is meant by positioning?
- Why is cost containment and technological improvement said to be the basis for competition?
- What are the benefits to an MNC that accepts the global market concept?
- What is strategic planning and how does it differ for international marketing from domestic?
- What is a market-driving strategy?