Ep59: Quality Vs Quantity
At a meetup recently, we discussed with a few entrepreneurs and we discovered that a lot of them struggled with knowing which to put first – Quality or Quantity. They struggled with knowing which mattered more and we realized this problem was not unique to them.
With our high population and sometimes high addressable markets, we often feel the need to fulfil the promise of quantity because it yields a higher return when more people buy your products. There is also the concern that quality often costs too much and your target market may not be willing to pay for the quality they so dearly want.
However, people have also been known to ditch goods for higher quality especially if the price difference is not too much. When asked, a lot of people admit to wanting quality over quantity. They believe that quality lasts longer and holds more benefit and prestige.
Does this mean you should lower your standards?
Could this mean quality is not that important?
Does this mean you can ignore the quantity, hike your price and focus on quality?
Should you alternate both?
What exactly should you do?
Listen to our view and the view of others in the podcast below. In addition, tell us the conclusion you came to.
Do you have experiences in relation to this topic to share, please send us an email or share in the comment section. Someone might just learn from it.
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August 23, 2018