Need for Strengthening the Quality and Efficiency in the Products and Services of Indian Industry

Abstract

The Quality plays an important role in the life of any product or service. It is of great interest to ensure that the products are produced according to the quality standards so that they may sustain in the market. In today’s competitive world each and every single factor of a product which urges the product into the market from that of the competitors. The consumers using the quality products do not shift their preference unless it does not meet their needs. That is the reasons why most of the products which is of higher quality are preferred by the consumers without any hesitation even if the prices are tend to be higher. The products may be classified into tangible products (Mobile phones, Cricket bat, Consumables etc.) as well as intangible products include services like (Theatre, Restaurants, Banks, Insurance etc. ). All these products have unique characteristics in their nature. This research paper is focused on the need for strengthening the quality of the products and services as well as its efficiency, and how such efficiency can be attained by the Indian Industry. This will be helpful to know how to strengthen the quality of products and attain its efficiency in the market. The data is collected from each and every individual who share their opinions. Some of the secondary data is also used to find out the results of the research. Statistical techniques like Percentage analysis, Reliability analysis, Cluster Analysis, ANOVA are used to find out the desired results.