What aspect of business involves managing the gap between expected and received product performance?

The aspect of business that involves managing the gap between expected and received product performance is customer satisfaction. This concept is crucial for businesses as it focuses on how well a company's products or services meet, exceed, or fall short of the expectations of customers. When customers have certain expectations based on marketing, previous experiences, or the service promises, the actual performance of the product or service will directly impact their satisfaction levels.

If a product performs better than expected, it can lead to high levels of customer satisfaction, fostering brand loyalty and repeat purchases. Conversely, if the product fails to meet expectations, it can result in dissatisfaction, negative reviews, and loss of customers. Therefore, businesses need to monitor and manage these expectations continuously to enhance overall customer satisfaction. This management might involve collecting feedback, making improvements to the product, or adjusting marketing communications to ensure alignment with customers' expectations.

In contrast, other options like customer experience focus more on the overall journey a customer takes with a brand, encompassing various touchpoints, while market research pertains to gathering insights about customer preferences and industry trends. Quality control is concerned mainly with maintaining standards in manufacturing and production processes, ensuring that products meet certain quality benchmarks but does not directly address the expectation-performance gap from a customer perspective.