Final answer:
The concept where a customer feels the anticipated benefits of a purchased product or service is termed value realization, and it is linked to the economic principle of utility and the law of diminishing marginal utility.
Step-by-step explanation:
When a customer feels that they have received the benefits they anticipated from a purchased product or service, this is often referred to as value realization. This term applies to the outcome where product information, and the beliefs held by the consumer prior to the purchase, align with the actual experience post-purchase. In cases where the information is imperfect or unclear, it may lead to purchase regret or reluctance to engage in future transactions.
Value realization is closely linked to the concept of utility, a fundamental economic principle where goods and services are desired for the satisfaction they provide. The law of diminishing marginal utility suggests that the satisfaction (or utility) derived from each additional unit of a good declines after the initial consumption, illustrating how the first experiences of a product may deliver the highest satisfaction.