Perceived quality/esteem
Perceived quality or perceived esteem is the subjective evaluation of a product or service by a consumer. It is based on their perceptions, beliefs, and opinions about the brand or company. Perceived quality can greatly influence consumer behavior and purchasing decisions.
For example, a consumer may perceive a luxury brand to have higher quality products compared to a lower-priced brand. This perception can influence their willingness to pay a premium price for the luxury brand.
Factors that can influence perceived quality include brand reputation, product design, customer service, and pricing. Companies often invest in marketing and branding efforts to enhance the perceived quality of their products or services.
Key points:
- Perceived quality is the subjective evaluation of a product or service by a consumer.
- It can greatly influence consumer behavior and purchasing decisions.
- Factors that can influence perceived quality include brand reputation, product design, customer service, and pricing.
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