Business Operations

The Quality Factor

The Quality Factor
 

Quality—the act of offering higher quality goods and services—is the primary competitive strategy of midsize businesses.1

  • 63 percent of midsize businesses list quality as one factor of their competitive strategy
  • 40 percent of midsize businesses list quality as their primary competitive advantage

The following are the outcomes businesses look for when implementing a competitive strategy with a focus on quality:

Midsize businesses:

  • 63 percent: Superior product or customer support
  • 58 percent: Depth of customer relationships
  • 52 percent: Brand recognition

For more information on competitive strategy, read our complete guide. Or contact your SunTrust banker today to learn more about the resources available to you to support your strategy and strengthen your market share.

1 SunTrust Quarterly Nationwide Survey

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