Reading “Predictably Irrational – Effects of Expectations” by Dan Ariely really supported and clarified several traits I find true within my own life. I think the primary lesson from this chapter is recognizing the effect that expectations have over a person’s preference. Through many different examples and tests researchers found that people are influenced in multiple ways by what they know or expect of a product.
My favorite sentence from this chapter, “expectations can influence nearly every aspect of our life.” No matter what situation you are in, what you are expecting of the outcome can greatly increase the satisfaction found within the results or can have the opposite effect. It is incredible to me how expectations can have such a profound impact on ones preference. By doing something as simple as creating a positive morale or image of a product the consumer too will expect that in their purchase. Take Starbucks for example, they have created a positive image of a relaxed experience when drinking their coffee. As a consumer, you now expect the same results when that warm (or maybe cold) cup in your hand. Though brewing coffee at home may take less time and most certainly be cheaper, the experience and expectations a person has of Starbucks brewed coffee may trump time and money in some instances thus affecting ones preference.
It is interesting to see that people like or dislike, quite possibly the same product, simply based upon its packaging or brand such as in the Pepsi/Coke example. A blind taste test shows that Pepsi is the preferred soda, but once you slap that red Coca-Cola lettering on the bottle it immediately changes the consumer’s preference. This goes to show that brand image may have a higher effect than actual product quality.
Learning how to use the influence of consumers’ expectations to the advantage of a marketer seems to be the underlying lesson from this chapter. As a marketer for a company such as Pepsi, it is difficult to overcome the strong brand image portrayed by Coca-Cola. In what ways can a marketer show a consumer that by taste Pepsi is the preferred choice and in that way affect their buying behavior? How does the beer example mentioned in the chapter plan to market to those who do not like the idea of an uncommon added substance to their beverage?
For years I have been apprehensive about going to see movies that all my friends exclaim to be “great” or “best movie they have ever seen”. Hearing peer reviews can potential ruin the greatness that may have been of the movie. I seem to anticipate the movies quality based on what they tell me. When I hear that 500 Days of Summer is, “such a cute movie”, and “soooooo good!” I can’t help but go into the theatre with high expectations. Far too often than not I find myself checking my phone for texts or trying to figure out how much longer this movie will last, obviously not engaged. I have recently learned not to ask for any details about a movie. This way I can watch the movie with a clean slate and form my own opinion of the film!
