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Home→The Westburn Dictionary of Marketing→P→performance standard

performance standard

Definition:
The level of output or achievement required of a PRODUCT or service. Performance standards may be set for an industry either by regulation (e.g. hygiene laws) or by mutual agreement (e.g. British Standards). They may, of course, be set independently by the buyer to reflect his own needs.

Cross-References:
[product]

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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker], [1998].