This document discusses key concepts related to consumer perception. It defines perception as how consumers select and organize sensory stimuli to understand the world. Sensation is the basic response of senses to stimuli, while thresholds refer to minimum levels of detection. Attention, interpretation and other factors influence perception. Principles like repetition and contrast impact how noticeable stimuli are. Risk perception considers functional, financial and other risks of products. Strategies can impact a consumer's exposure to, and processing of, marketing stimuli.