What term describes the extent to which a product's perceived performance matches a buyer's expectations?

The term that describes the extent to which a product's perceived performance matches a buyer's expectations is customer satisfaction. This concept emphasizes the relationship between what a customer expects from a product and what they actually experience after using it. When the performance of a product fulfills or exceeds customer expectations, satisfaction levels tend to be high, leading to positive outcomes such as repeat purchases and brand loyalty. Conversely, if a product falls short of expectations, it can lead to disappointment and dissatisfaction, which may damage customer relationships.

In contrast, consumer trust refers to the confidence that a customer has in a brand or company, which is influenced by factors such as brand reputation and previous experiences. Product value encompasses the perceived benefits and worth of a product relative to its cost but does not directly align with customer expectations. Market fit relates to how well a product addresses the needs and demands of a specific target market, which, while important, does not specifically measure satisfaction in terms of expectations versus performance.