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HOW TO MAKE MONEY TAKING QUALITY DECISIONS
There are many business owners who make quality decisions for the purpose of reducing costs without thinking about the welfare of their customers, staff, and the well being of the planet.
Business owners may make these decisions in an effort to gain an edge over larger competitors when in reality the decisions are hurting their business. If you want to create a conscious business for success beyond success then you must know how to make decisions that will influence the well being of your business. First let’s take a look at some of the decisions some businesses make that are a detriment and then we will list some steps that will help you make conscious choices which will take your business to the next level.
Types of quality business decisions to make money
Offering Quality First and Then Cutting Back: Once customers are drawn to the product or service the company gradually cuts back on the quality in an effort to cut costs and increase profits. What happens is the customer starts to notice the decline in quality and so they begin to look elsewhere.
Associating a Product Name with an Established Brand: The reality is the quality is lower and the company is attempting to profit from a brand name that is almost identical to the established brand. This is considered a deceptive practice to pass off goods that are associated with another brand.
Providing False Information About the Competitor: To try and get ahead of the competition, some businesses will make false or misleading statements when they are comparing their product or service to a potential competitor. This is not only illegal but it also ends up breaking the trust of the consumer if they research and compare and find the information is false.
Using Inflated Information to Sell Products or Services: In an effort to compete with larger companies some businesses will inflate the information when they promote their product or service. This makes the consumer feel like they are getting more bang for the buck than if they chose to make a purchase from the competitor.