With the example above , i dont think you have very large or complex set of data to be managed.
Catalog characterstic sounds more appropitae to be used in quality characterstic as catalogs belongs to QM module, nad created there only.
I just go with values defined at characterstic level , do not use check mark for use additonal value and you will have set resticted to values at characterstic values, create one characterstic and copy it to create others to make sure all 5 have same value set.
Check and reply.
Thanks
Ritesh