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Saturday, May 12, 2012

Stanford Study: Wine's pricetag does affect its Taste

Interesting study, though I am not that much surprised by the result. I often feel better when purchasing a high pricetag goods.

To take home :
"What we document is that price is not just about inferences of quality, but it can actually affect real quality," said Baba Shiv, Sanwa Bank, Limited, Professor of Marketing who co-authored the paper. "So, in essence, [price] is changing people's experiences with a product and, therefore, the outcomes from consuming this product."

Source : Standford Graduate School of Business, 2012

1 comment:

  1. Regarding price determining pleasure!!!
    I have a hard time accepting that price can determine pleasure; perhaps a pleasure in saving money, but I am skeptical as far as pleasure in tasting the wine. But again, makes me think of when I was 16 years old and went to spend a weekend at the beach at a friend´s house (she was also 16). I will never forget all my life the comment she made when after having bought some kind of cake (can´t remember what it was...I am 48 now! and getting old). She said: "oh it is 50% of the labelled price, well then it will taste twice as better! I remember being shoked by this comment that I find horrendous. But needless to say, people like her make you right after all.
    My kindest regards,
    Catherine Gourmet (