ECONOMICS

Detailed explanation-1: -The bigger the gap between expectations and performance, the wider is the gap of consumer dissatisfaction. Major sales transactions result in cognitive dissonance, or discomfort caused by post purchase conflict.

Detailed explanation-2: -The larger the gap between expectation and performance the greater is the dissatisfaction.

Detailed explanation-3: -If performance meets consumer expectations, the consumer is Satisfied.

Detailed explanation-4: -setting unrealistically high consumer expectations of the product through advertising, personal selling, or other types of promotion may lead to higher initial sales, but it eventually will result in dissatisfaction if the product fails to achieve high performance expectations.

Detailed explanation-5: -Customer satisfaction may be defined as the product’s performance according to buyer’s expectations. Consumers form expectations about the value of marketing offers and make buying decisions based on three expectations. Customer satisfaction depends on the products actual performance relative to a buyer’s expectations.