The main advantages of standardization can be studied as follows:
Benefits Or Advantages Of Standardization To The Customers
1. Better Quality Products
Standardization ensures uniformity and consistency of the product quality.
Consumers can buy standardized products without any doubt and hesitation.
2. Using Method
Composition of product and using instructions are given by the manufacturers.
So, consumers can use such products easily
3. Fixed Price
Standardized goods are properly packaged and labeled. Customers can get
information about price of such products with the help of description
provided. So, sellers cannot cheat buyers.
4. Buying Decision
With the help of advertisement and other sources (other buyers and users)
customers can get various information (such as price, size, weight, quality,
uses, durability etc.) easily. So, buyers can make buying decision without
inspecting the goods.
Advantages Or Benefits Of Standardization To The Sellers And
Manufacturers
1. Selling Facility
Standardized goods can be sold easily without giving any instructions or
suggestions because consumers can buy those products by looking description
and sample. So, sellers can sell such products easily.
2. Market Expansion
Standardization helps to attracts more customers because of uniformity and
consistency in quality and price of the product. It helps to increase demand
of the product. So, company can widen its market.
3. Customer Retention
It helps to increase image and goodwill of the business. Good image and
goodwill promotes customer loyalty and customer retention.
4. Mass Production
It promotes mass production because of customer retention, high demand and
market expansion. Mass production helps to reduce the cost of production.
Manufacturers can also enjoy the benefits of economies of scale.
1. Standard Quality Goods
Because of mass production, people can buy better quality products at
reasonable price.
2. Employment Opportunity
Company should increase its production capacity because of market expansion
and high demand. It should hire more employees. So, unemployed people can get
job opportunity. It helps to reduce the unemployment rate in the society.
3. Better Standard Of Living
People can afford high quality products at lower price. Employment opportunity
helps to increase the income of the society. So, standardization helps
to improve the standard of living.
