"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."

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Source: Peter Drucker (2014). “Innovation and Entrepreneurship”, p.244, Routledge

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Peter Drucker

Management Consultant, Author

Peter Drucker was a management consultant and author known for his contributions to modern business practices and the concept of management by objectives.

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