A Quote by Peter Drucker

Quality in a product or service is not what the supplier puts in. It is what the customer gets out and is willing to pay for. A product is not quality because it is hard to make and costs a lot of money, as manufacturers typically believe. This is incompetence. Customers pay only for what is of use to them and gives them value. Nothing else constitutes quality.

Peter Drucker

Quote Topics

Because Believe Costs Customer Customers Else Gets Gives Hard Incompetence Lot Make Manufacturers Money Nothing Only Out Pay Product Puts Quality Service Them Use Value Willing

Quote Author

Peter Drucker
American - Businessman
November 19, 1909 - November 11, 2005

Customers pay only for what is of use to them and gives them value. Nothing else constitutes quality.

Peter Drucker

Quality in a service or product is not what you put into it. It is what the client or customer gets out of it.

Peter Drucker

Customers are a great way to finance a business for many reasons. First, customer financing is typically non dilutive. They want something from you other than equity in your business. Customers also help you fit your product to the market. And customers will help debug and improve the quality of the product.

Fred Wilson

The most common way customer financing is done is you sell the customer on the product before you've built it or before you've finished it. The customer puts up the money to build the product or finish the product and becomes your first customer. Usually the customer simply wants the product and nothing more.

Fred Wilson

What characteristics are most important in creative workers? One quality you need is inventiveness. You need to be able to take whatever product or service you are providing and figure out ways of making it better, faster, cheaper. The other quality is empathy and insight into what people might want, even though they don't even know their wants, probably because there's no product or service to test their wants.

Robert Reich

Social enables word of mouth at an unprecedented scale. Its most powerful effect, through reviews and recommendations, is to put product quality and value for money as the key to success in commerce. Social brings a level of transparency that prevents marketers from advertising their way to success without underlying product quality.

Roelof Botha

We talk about the quality of product and service. What about the quality of our relationships and the quality of our communications and the quality of our promises to each other?

Max de Pree

One thing matters more than anything else for a dating product, and that is the quantity and quality of the people who use the product. It's really freaking hard to get critical mass.

Sam Yagan

Quality that significantly exceeds the customer's expectations doesn't seem to pay off. This 'delight the customer' stuff isn't rewarding. One has to be careful about delighting customers too often, because it sort of reshapes customer expectations.

Tahl Raz

A lot of old Australian bakeries used a lot of trans-fats but I just wanted to use quality ingredients - butter, cream, custard - to produce a high-quality product.

Adriano Zumbo

So, always start with a product, always start with a customer, always start with a service and how this product or service will dramatically improve the quality of the life or the work of the customer.

Brian Tracy

There's no great mystery to satisfying your customers. Build them a quality product and treat them with respect. It's that simple.

Lee Iacocca

The product has to work. It has to be a good product. An enormous number of them are all hype with no value at all. People get into them because they want to make a lot of quick, easy money.

Brian Tracy

I want to make beautiful clothes for women and men who appreciate detail and quality. The product must be the best but this is almost secondary to the service the customer will receive.

Tom Ford

I believe a great company, whether improving a sector or creating a new one, needs to have an excellent product or service at its core; needs strong management to execute the plan and a good brand to give it the edge over its competitors. Providing quality service, combined with value for money and in an innovative way ensures you offer real value - and finally to be responsible to society and the planet.