Staring down at two different brands of a beverage on the shelf of a supermarket, I was contemplating on either quality or quantity. Two different brands, different volumes, difference in quality yet the same price. The first beverage is 300ml, a product of high quality and the stated price is 10.00 Ghana Cedis. The second beverage is 500 ml, of low quality and the product also costs 10.00 Ghana cedis. I guess you now understand my dilemma and you might have even remembered a similar situation. What was your decision? What influenced your decision? Quality or quantity?
Quantity of a product refers to the measurement in amount or number. Common measurement parameters used in measuring the quantity of products are milliliter, liters, grams and kilograms. The quantity of some products are also measured in numbers for example single, dual, and the most common dozen. The quantity of a product can be found on the package of the product usually close to the ingredient section on the package.
Quality of a product refers to the degree to which a product is flawless and of good value. The quality of a product is dependent on the consumer. I must say this. A product I may consider of high quality may be of low quality to another customer. Also a majority of consumers can also classify a product as having high quality. The quality of a product can be quite confusing due to the difference in taste and preferences of consumers but sometimes consumers agree on the quality of a product.
The customer’s preference
Knowing the customers’ preference when it comes to quality and quantity of a product is extremely dicey. I have already established that customers have different tastes and preferences. Even though every consumer will say they prefer quality over quantity, it’s not always the case. Depending on the price of the product, sometimes customers may choose quantity over quality to save some extra cash as against buying an expensive yet high quality product.
Balancing quality and quantity in stock
In most matters, quality matters more. It is best to have one product of high quality on your shelf than to have thousands of products of low quality. However, there is supposed to be a balance to satisfy all customers. Balancing quality and quantity means firstly knowing your customers’ preferences (quality or quantity) then stocking to satisfy those preferences. This means that you would have to stock items that are of good quality and also have a volume that will please customers while considering their pockets.
So in the end, I made a decision on quantity and quality. I purchased two beverages of high quality to compensate for the quantity I wanted. I don’t know what you do when you have to choose between quantity and quality but, just remember that quality matters more.