Abstract
Lancaster (1966), demonstrates the usefulness of treating products and services as bundles of characteristics. Product quality is conceptualized as a subset of product characteristics, and can measured by the degree to which their characteristics relate to customer preferences. In this respect, quality management and customer responsiveness overlap. Technologies constrain product characteristics to technically deliverable clusters or bundles. Effective product design and engineering involve efficient bundling of customer oriented characteristics. Thus, quality-based production decisions affect not only supply, but also demand.
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