The Role of Marketing in Understanding and Controlling Cost of Quality
In the accounting realm, quality is an increasingly important element in planning, production, distribution and branding of goods and services because of global competition and other external factors in many industries. However, the cost of quality must also be considered as not to add unwanted or unwarranted costs to pass along to the end-customer. Marketing professionals are trained to strategically build and protect their own brand, which may consist of products or services. To achieve high-quality, it is imperative that the accounting and marketing departments work together. The four categories of Quality Costs (Prevention, Appraisal, Internal Failure and External Failure) encompass many different quality activities at different stages in producing goods or services. The research and experiences in the marketing industry based on branding will help to show that most quality initiatives are in fact preventative when the end goal is maintaining a solid consumer base and satisfied consumers. As this study shows, treating the brand as an experiential entity serves as a quality facet. This alludes that quality is a facet linking accounting and branding.
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