__________ is the extent to which a product’s perceived performance matches a buyer’s expectations.
D. Customer satisfaction
Explanation of product’s perceived performance matches a buyer’s expectations:
Customer satisfaction is the extent to which a product’s perceived performance matches a buyer’s expectations. Customer satisfaction is that a customer perceives from the use of a product. It can be different from person to person for a same product. That is why, each person has different way to analyze the things and conclude the results. Customer usually defines their satisfaction based on the difference between the cost of the product and benefits get by using that product.
If the benefits of a products exceeds from cost value for customer, hopefully it will satisfy the customer’s needs and wants. For example, a customer wants to travel from point A to point B. For this purpose he books a ticket of luxury bus which costs him more than the usual. Customer is expecting that in luxury bus he would not get tired. However, physical tiring is natural process during travelling. But in this case, customer will not get satisfaction and ignore the natural process.
On the other hand, a different customer in the same scenario is satisfied. This is all because he may have different satisfaction priorities. May be he will prefer to be on time on his destination rather than luxury. Furthermore, there is not a specific rule to check customer satisfaction and it varies from person to person. In some cases, customer is over expecting from the usual conditions. That is why; mostly companies do not have good reviews from customer side. Furthermore, if they become successful to get positive image in customers mind, they will have loyal customers.