Explain various theories of Customer Perception. Which one is the most relevant in the present context?

Customer perception is a crucial aspect of Customer Value Management (CVM) as it influences consumer behavior, satisfaction, and loyalty. Several theories explain how customers perceive value, make decisions, and develop preferences. These theories provide insights into managing customer relationships effectively.  

### 1. Expectation-Confirmation Theory (ECT)  
This theory states that customers form expectations before purchasing a product or service. After consumption, they compare their experience with the initial expectation. If the product meets or exceeds expectations, customers are satisfied, leading to positive perception and loyalty. However, if the experience falls short, dissatisfaction occurs. Businesses use this theory to manage customer expectations and enhance value perception through quality service and product offerings.  

### 2. Prospect Theory  
Developed by Daniel Kahneman and Amos Tversky, this theory explains how customers perceive gains and _______ ____ ____ ___ ________ ___ ___.
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