Consumer value is the difference between the values the customer gains from owning and using a product and the costs of obtaining the product.
Customers form expectations about the value of various marketing offers based on past buying experiences, the opinions of friends, and marketer and competitor information and promises.
Customer satisfaction with a purchase depends on how well the product’s performance lives up to the customer’s expectations.
Customer satisfaction is a key influence on future buying behaviour. Satisfied customers buy again and tell others about their good experiences.