In the context of business requirements, what does "Quality" refer to?

In the context of business requirements, "Quality" refers to the performance and durability of the product or service. This definition encompasses how well a product or service meets specified standards, fulfills customer expectations, and performs its intended functions over time. Quality is crucial for ensuring customer satisfaction, as it affects reliability, effectiveness, and longevity in use. High-quality products or services are typically expected to maintain a certain level of performance throughout their lifecycle, which in turn can lead to brand loyalty and repeat business.

While factors such as price, sales volume, and production timelines are important considerations in the overall business strategy, they do not directly define the intrinsic qualities of the product or service itself. Quality focuses specifically on the characteristics and attributes that make a product or service valuable and dependable to users.