Perceived quality/esteem
Perceived quality, also known as perceived esteem, is a consumer’s subjective evaluation of a product or service based on their perception of its attributes and benefits. It plays a crucial role in influencing consumer buying behavior and brand loyalty.
Perceived quality is often influenced by factors such as brand reputation, price, design, and customer reviews. For example, a high-end luxury brand like Rolex is perceived to have superior quality due to its reputation for precision engineering and craftsmanship, despite its high price tag.
On the other hand, a budget-friendly brand like H&M may be perceived as offering lower quality products, but still be popular among consumers for its trendy designs and affordable prices.
It’s important for businesses to understand the importance of perceived quality in shaping consumer perceptions and market positioning. By focusing on factors that enhance perceived quality, such as product design and customer service, companies can create a strong brand image and build customer loyalty.
Examples of perceived quality/esteem:
Apple: Known for its sleek design, innovative technology, and user-friendly interface, Apple products are perceived to be of high quality and command a loyal customer base. Mercedes-Benz: A luxury car brand that is synonymous with prestige and performance, Mercedes-Benz is perceived to offer superior quality vehicles that cater to discerning consumers. Starbucks: With its premium coffee blends, cozy ambiance, and excellent customer service, Starbucks has built a strong brand image based on perceived quality and customer esteem.For more information on perceived quality, you can visit Wikipedia.