Final answer:
The two dimensions that define the quality of a product or service are market-perceived quality and performance quality.
Step-by-step explanation:
The two dimensions that define the quality of a product or service are market-perceived quality and performance quality.
Market-perceived quality refers to how customers perceive a product or service based on their expectations, brand reputation, and other intangible factors. For example, customers may perceive a luxury brand as having higher quality compared to a budget brand.
Performance quality refers to the objective characteristics and features of a product or service. It relates to its functionality, durability, reliability, and other tangible attributes. For example, a high-performance car with advanced technology and superior craftsmanship would be considered to have high performance quality.