Question

________ reflects a customer's judgment of a product's performance in relation to his or her expectations.

1) Brand equity
2) Satisfaction
3) Value
4) Perception
5) Brand image

Answer 1

Satisfaction reflects a customer's judgment of a product's performance compared to their expectations. It is fundamentally based on the available information when making a purchase and can be influenced by various intangible factors, including advertising and brand reputation.

Step-by-step explanation:

The concept that reflects a customer's judgment of a product's performance in relation to his or her expectations is satisfaction. Every purchase a customer makes is underpinned by beliefs regarding the expected satisfaction that the product or service will deliver. These beliefs are tied to the information available to the buyer, which can sometimes be imperfect or unclear, leading to possible regret or future purchase avoidance. Intangible factors such as guarantees of satisfaction, brand reputation, and advertising can greatly influence customer perception and, subsequently, the differentiation of the product in the marketplace.