NCEA Level 3 Business Studies UPDATED ACTUAL Questions and CORRECT Answers
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Course
NCEA
Institution
NCEA
NCEA Level 3 Business Studies UPDATED
ACTUAL Questions and CORRECT
Answers
Quality - CORRECT ANSWER- Quality is about meeting the needs and expectations of
customers. Customers want quality that is appropriate to the price that they are prepared to
pay and the level of competition in the m...
NCEA Level 3 Business Studies UPDATED
ACTUAL Questions and CORRECT
Answers
Quality - CORRECT ANSWER- ✔✔Quality is about meeting the needs and expectations of
customers. Customers want quality that is appropriate to the price that they are prepared to
pay and the level of competition in the market.
Aspects of Quality - CORRECT ANSWER- ✔✔Good design - looks and style
Good functionality - it does the job well
Reliable - acceptable level of breakdowns or failure
Consistency
Durable - lasts as long as it should
Good after sales service
Value for money
Benefits of Quality - CORRECT ANSWER- ✔✔Customer loyalty - they return, make repeat
purchases and recommend the product or service to others.
Strong brand reputation for quality
Retailers want to stock the product
As the product is perceived to be better value for money, it may command a premium price
and will become more price inelastic
, Fewer returns and replacements lead to reduced costs
Attracting and retaining good staff
Improved image & reputation, which should result in higher demand, which may in turn
mean
greater production volumes (possibly providing better economies of scale)
Lower unit costs because of less waste and rejected output
Fewer customer complaints (& more satisfied customers)
Potentially higher selling prices (less need to discount)
Poor Quality Examples - CORRECT ANSWER- ✔✔Product fails - e.g. a breakdown or
unexpected wear and tear
Product does not perform as promised (or what the customer thought was promised!)
Product is delivered late
Poor instructions/directions for use make using the product difficult or frustrating
Unresponsive customer service
Costs of Poor Quality - CORRECT ANSWER- ✔✔Lost customers (expensive to replace -
and they may tell others about their bad experience)
Cost of reworking or remaking product
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