ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Beliefs are a consumer’s subjective perception of how well a product or brand performs on different attributes. Beliefs are based on personal experience, advertising, and discussions with other people.

Detailed explanation-2: -Perceived Quality is the impression of excellence that a customer experiences about a product, brand or business, derived through sight, sound, touch, and scent.

Detailed explanation-3: -What Is Brand Perception? In marketing, brand perception is how consumers see and feel about a company or product. It’s how customers interpret and react to messages, experiences, and interactions with a brand.

Detailed explanation-4: -Product perception is often biased by preconceived ideas about product properties and is affected by the consumer’s judgmental frame of reference. If these preconceived ideas are concerned what the product is, they are called perceptual or analytical expectations or product beliefs.

Detailed explanation-5: -What is customer perception? Customer perception is the opinions, feelings, and beliefs customers have about your brand. It plays an important role in building customer loyalty and retention as well as brand reputation and awareness.