Consider the below statements. (i) Quality is defined as fitness for the purpose at the lowest cost (ii) Quality is a grade of the product in appearance, performance, life, reliability, taste, odour, maintainability etc (iii) Quality is the degree to which a specified product is preferred over competing products of equivalent grade, based on the comparative test by customers, normally called as customer’s preference (iv) Quality is a measure of the degree of the general excellence of the product (v) Quality may be defined as the degree of conformance to design and specifications Which of the above statements are correct?

Correct Answer: i, v, iv
All the statements i, ii, iii, iv, v are the definitions of quality. Statement (i) gives the meaning of Fitness for purposes. Similarly, statements ii, iii, iv, v defines the quality of a product or services with respect to grade, degree of preference, degree of excellence, degree of conformance.