What is referred to as "perceived quality"?

Perceived quality refers to the customer's perception of a product's quality. This concept emphasizes how customers evaluate and interpret the quality of a product based on their experiences, expectations, and comparisons with other products, rather than relying solely on measurable and empirical data about the product itself. It encompasses subjective judgments that can be influenced by marketing, branding, reputation, and personal experiences. Perceived quality plays a critical role in consumer decision-making as it can significantly impact a customer’s satisfaction, loyalty, and willingness to pay a premium price. Understanding this concept helps businesses tailor their marketing strategies to enhance customer perceptions and ultimately improve sales and customer loyalty.