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Hearing (and Acting Upon) the Voice of the Market

Identifying factors that are critical to quality

R. Eric Reidenbach Ph.D.
Wed, 05/26/2010 - 06:00
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Successful quality initiatives are based on understanding the true nature of “quality.” It resides in the minds of those who judge it and use it to make their purchase decisions—in other words, the market. Divorced from the market, quality or value has no real meaning. Uninformed definitions of these terms become mere guesses, sometimes right, and many times wrong. The voice of the market (VOM) takes the guess work out of defining quality and helps companies’ direct initiatives to achieve best-in-market results.

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Determining CTQ

To identify factors that are critical to quality (CTQ), an organization must first define the products and markets it is targeting. The clearer the definition, the better the understanding of how those products or markets define quality. Unclear definitions result in CTQ factors that are not only fuzzy but also lacking in any practical approach. This makes it harder to put the information to work.

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