The customers' evaluation of a good or service in terms of whether that good or service has met their needs and expectations is called _____.

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23-08-2022
Social Studies

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The customers' evaluation of a good or service in terms of whether that good or service has met their needs and expectations is called _____.

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Tutorconsortium347 Tutorconsortium347 · Answer 1 · 2022-08-26T06:11:24+02:00

The customers' evaluation of a good or service in terms of whether that good or service has met their needs and expectations is called customer satisfaction.

Does perceived value matter equally as much as the actual value in generating consumer satisfaction?

The true worth of a product is substantially different from its perceived value. The product's perceived value is how much a customer thinks it is worth. The benefits that the buyer anticipates obtaining from his purchase and the opinions of the market both contribute to this perception. Without any assumptions from the buyer or seller, the genuine (or actual) value of a product is its market value. Consumers' perception of the value of a product is known as its perceived (or intangible) value.

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