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Showing posts from April 30, 2014

PRICING: Want higher restaurant ratings? Charge more.

If you own a restaurant or are thinking of starting one, consider how much the prices you charge effect the ratings your food earns.  Here's a fact of life confirmed by new research:
Taste perception can be manipulated by price alone.
Customers paying more at a restaurant buffet perceive the food as tastier than the same food offered at a lower price, suggesting taste perception can be manipulated by price alone. Researchers in nutrition, economics and consumer behavior often assume that taste is a given -- a person naturally either likes or dislikes a food. But a new study suggests taste perception, as well as feelings of overeating and guilt, can be manipulated by price alone.

"We were fascinated to find that pricing has little impact on how much one eats, but a huge impact on how you interpret the experience," said Brian Wansink, Ph.D., a professor at the Dyson School of Applied Economics and Management at Cornell University who oversaw the research. "Simply cuttin…