Seems to me (been thinking about this for a presentation) that Brand Experience (just imagine the reverb) is made up of the following:
1. Brand Interaction (or Brand Encounter) -- this is a person's interaction with the actual product or the company. There are quality issues here, there are training issues here (does everyone on a customer service team treat customers the same way). All of this is specific to a product.
2. Brand Perception -- this is all the advertising and promotions. The bit that is totally controlled by the company where it is trying to tell a brand story. This is the perception that I receive that I compare my encounter to.
3. Brand Expectation -- this is the one that most companies forget about. People have an expectation of companies and products. This expectation could be based on explicit brand promises (e.g. "fast" "innovative" "helpful") or it could be based on expectations of the company itself -- who the company supports with its corporate investments, that kind of thing. But we all have an expectation -- and companies need to meet it or, at the very least, manage it!