{"id":18342,"date":"2016-07-22T11:59:06","date_gmt":"2016-07-22T15:59:06","guid":{"rendered":"http:\/\/smarttan.com\/news\/?p=18342"},"modified":"2016-07-22T14:06:45","modified_gmt":"2016-07-22T18:06:45","slug":"the-perception-of-value","status":"publish","type":"post","link":"https:\/\/news.smarttan.com\/index.php\/the-perception-of-value\/","title":{"rendered":"The Perception of Value"},"content":{"rendered":"

By Crystal Rooney, Spray Tan Artists Forum<\/em><\/p>\n

Years ago, I was shown a video on the psychology of perceived value. They set up a restaurant with simple, undecorated card tables and metal chairs. They brought in a study group to evaluate. Seating was open table. Meals were served using paper plates, plastic utensils and plastic cups. The meal consisted of a salad, steak, vegetables, potatoes a dessert and wine. Wait staff dressed in plain clothes with only name tags.<\/p>\n

When the meal was finished people were asked to rate it and tell them what the meal was worth to them in value. The average rating was three out of five, and the comments about the food were average to poor. The majority of people gave low ratings to the quality of the food. People stated they would pay an average of $10 per person for the meal and it was not remarkable enough to return.<\/p>\n

The very next day, using another study group, they decked the restaurant out. They used seating service, lavish tablecloths, candles, china plates, silverware and wine and water glasses. Waiters had uniforms with crisp red aprons. They served the same exact meal.<\/p>\n

This time, the average rating was close to five out of five and the comments on the food were all above average. People also mentioned that they would return and recommend them to friends. In addition, people commented on the environment and the wait staff. But the most profound change was that people were willing to pay an average of $25 per person for the meal.<\/p>\n

How can it be that the value changed by more than double when it was the same exact same food? Perceived value. The worth that a product or service has is in the mind of the consumer. The customer’s perceived value of a good or service affects the price he or she is willing to pay for it.<\/p>\n

Click \u00a0here to read the entire article in the latest issue of Smart Tan Magazine online.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Crystal Rooney, Spray Tan Artists Forum Years ago, I was shown a video on the psychology of perceived value. They set up a restaurant with simple, undecorated card tables and metal chairs. They brought in a study group to evaluate. Seating was open table. Meals were served using paper plates, plastic utensils and plastic […]<\/p>\n","protected":false},"author":2,"featured_media":18343,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-18342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nThe Perception of Value - Smart Tan News<\/title>\n<meta name=\"description\" content=\"By Crystal Rooney, Spray Tan Artists Forum Years ago, I was shown a video on the psychology of perceived value. They set up a restaurant with simple, undecorated card tables and metal chairs. 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This time, the average rating was close to five out of five and the comments on the food were all above average. People also mentioned that they would return and recommend them to friends. In addition, people commented on the environment and the wait staff. But the most profound change was that people were willing to pay an average of $25 per person for the meal. How can it be that the value changed by more than double when it was the same exact same food? Perceived value. The worth that a product or service has is in the mind of the consumer. The customer's perceived value of a good or service affects the price he or she is willing to pay for it. Click \u00a0here to read the entire article in the latest issue of Smart Tan Magazine online.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.smarttan.com\/index.php\/the-perception-of-value\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Perception of Value - Smart Tan News\" \/>\n<meta property=\"og:description\" content=\"By Crystal Rooney, Spray Tan Artists Forum Years ago, I was shown a video on the psychology of perceived value. They set up a restaurant with simple, undecorated card tables and metal chairs. They brought in a study group to evaluate. Seating was open table. Meals were served using paper plates, plastic utensils and plastic cups. The meal consisted of a salad, steak, vegetables, potatoes a dessert and wine. Wait staff dressed in plain clothes with only name tags. When the meal was finished people were asked to rate it and tell them what the meal was worth to them in value. The average rating was three out of five, and the comments about the food were average to poor. The majority of people gave low ratings to the quality of the food. People stated they would pay an average of $10 per person for the meal and it was not remarkable enough to return. The very next day, using another study group, they decked the restaurant out. They used seating service, lavish tablecloths, candles, china plates, silverware and wine and water glasses. Waiters had uniforms with crisp red aprons. They served the same exact meal. This time, the average rating was close to five out of five and the comments on the food were all above average. People also mentioned that they would return and recommend them to friends. In addition, people commented on the environment and the wait staff. But the most profound change was that people were willing to pay an average of $25 per person for the meal. How can it be that the value changed by more than double when it was the same exact same food? Perceived value. The worth that a product or service has is in the mind of the consumer. The customer's perceived value of a good or service affects the price he or she is willing to pay for it. Click \u00a0here to read the entire article in the latest issue of Smart Tan Magazine online.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/news.smarttan.com\/index.php\/the-perception-of-value\/\" \/>\n<meta property=\"og:site_name\" content=\"Smart Tan News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SmartTan\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-22T15:59:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-07-22T18:06:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news.smarttan.com\/wp-content\/uploads\/2016\/07\/dining-7-22-16.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1362\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"smarttannews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@SmartTan\" \/>\n<meta name=\"twitter:site\" content=\"@SmartTan\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"smarttannews\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/news.smarttan.com\/index.php\/the-perception-of-value\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/news.smarttan.com\/index.php\/the-perception-of-value\/\"},\"author\":{\"name\":\"smarttannews\",\"@id\":\"https:\/\/news.smarttan.com\/#\/schema\/person\/722dc7049af55e0ed743d67ce9ed4819\"},\"headline\":\"The Perception of Value\",\"datePublished\":\"2016-07-22T15:59:06+00:00\",\"dateModified\":\"2016-07-22T18:06:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/news.smarttan.com\/index.php\/the-perception-of-value\/\"},\"wordCount\":338,\"publisher\":{\"@id\":\"https:\/\/news.smarttan.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/news.smarttan.com\/index.php\/the-perception-of-value\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/news.smarttan.com\/wp-content\/uploads\/2016\/07\/dining-7-22-16.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/news.smarttan.com\/index.php\/the-perception-of-value\/\",\"url\":\"https:\/\/news.smarttan.com\/index.php\/the-perception-of-value\/\",\"name\":\"The Perception of Value - Smart Tan News\",\"isPartOf\":{\"@id\":\"https:\/\/news.smarttan.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/news.smarttan.com\/index.php\/the-perception-of-value\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/news.smarttan.com\/index.php\/the-perception-of-value\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/news.smarttan.com\/wp-content\/uploads\/2016\/07\/dining-7-22-16.jpg\",\"datePublished\":\"2016-07-22T15:59:06+00:00\",\"dateModified\":\"2016-07-22T18:06:45+00:00\",\"description\":\"By Crystal Rooney, Spray Tan Artists Forum Years ago, I was shown a video on the psychology of perceived value. 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