A business analyst for CNBC reported as story on the VCR industry and during the story the analysis stated the "Companies that manufactured VCR machines began to view itself as a company competing in the product business instead of the value producing business". Based on the information the VCR companies found themes in what situation? a. Loss of market share b. Marketing myopia  c. Marketing burnout  d. New product development  c. The decline stage of the product life cycle

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Perception in Marketing

In marketing, perception is referred to as the meaningful information, awareness, impressions, and opinions that the consumers have for the products, services, reputation, and values of a firm. In simple terms, perception is the way the firm is viewed and understood by the consumers from the information gathered and available to them.