Your Quality Score reflects your keyword's CTR and the relevance of your ad text and landing page. Keywords with high Quality Scores are more relevant for users, more effective for your ad campaigns, and have lower minimum CPC bids.
Keywords can have one of three Quality Score states:
Great: Your keyword is very relevant and your Quality Score needs no improvement.
OK: Your keyword is relevant, but you can still benefit from a higher Quality Score.
Poor: This keyword isn't very relevant to users and we suggest you replace it with a more specific keyword. If you would like to keep advertising with this keyword, we recommend optimizing by using more targeted ad text and improving your landing page content.
It covers all the things which are always known to be of high importance by Google. Just the thing is Google started telling this to the advertisers.
Enjoy,
KaramKshetra