I. According to conducted experiment we can conclude that our question is – How information about price can effect on the utility?
II. Our null Hypothesis (H0) consists in fact that information about price can’t effect on the level of utility. Null Hypothesis says that respondents can determine the best wine on the basis of flavor. But the results of this experiment correlate with information about price despite hypothesis expectations. Participants don’t know any information about wine that can characterize it expect price. Prices play a role of value measure. Usually, if we don’t know about product quality we look at its price. We are used to think that more commodity expensive is to us the more qualitatively it is.
Next Hypothesis (H1) says that information about price can impact on the level of received pleasure. This hypothesis approved by following research. If customer knows the price he can make a conclusion that desired product more qualitatively. A customer thought that commodity was produced with better products and raw materials or this commodity is more exclusive and popular. So, the price has a strong effect on customers’ opinion. Examined participants confirmed this theory at practice. The more expensive wine the more enjoyment customer will receive.III. Independent variable is such variable in an experiment that deliberately manipulated or selected by the experimenter in order to determine its effect on the dependent variable.
It will be two different types of wine with different prices: First is $90 wine was twice marked with its real price and $10, second presented at its real price of $5 but marked $45.
The dependent variable - variable in a scientific experiment measuring value with changes associated with changes according to the independent variable.
It will be revived utility of respondents.IV. Price is measured in dollars in obedience to pricing of low and high costs wine.
V. Another variable that could have affected the results can be any information about wine: its age, sort, uniqueness, popularity, design etc.
Next extraneous variables are condition when our responder is professional sommelier. His feeling will be stronger than information about price, so we can’t check our Hypothesis (H1)
We have specific product – wines. Our responders do not work as a sommelier, so differences in each group can change result and we can’t receive the most reliable information.
Individual are not involved in treatment condition in contradistinction to between-subject design, which creates a possibility that any differences between the groups of respondents may influence on the results.
Participants are included to entire condition. Each individual make conclusion using own opinion and baseline. VII. Experimenters had to provide maximum independent environment for participants of experiment with strong instructions. They should determine dependent and independent variables excluding any information which can break clearance of experiment. For example, forbidden information can be real prices of wines, age or another data that can describe wines.
Participants should follow the instructions. They must keep individuality in experiment without any kind of teamwork. Also, they shouldn’t try to get some information about wines.VIII. It is looks like they used random type of sample. We don’t know any information about respondents such as their preferences, interests, social status and other characteristics. Each participant was equal likelihood selected.IX. I think it is possible to generalize the results from this studying. The experiment showed samples of 20 participants. Received data correlate with influences of prices on customers’ product value. Experimenters exclude all additional data that can prevent respondents to make a choice by own-self. There was received clear information during the experiment which can be generalized that information about prices can impact on received pleasure from goods and services. We can use this conclusion in next researches to explore deepest reasons of customers’ behavior.X. If I could conduct the study I would not change anything. The experiment held in clear conditions. The dependent variable correlated only with independent variable which was determined before experiment. I think it is enough 20 participants to make a conclusion about this experiment because researching was provided with MRI using within-subject design. We also should take into account that our responders aren’t experts in wines.
But to get more accurate data it would better use wine with approximately similar substance of verity of components such as sugar. Our brain loves more calorie food. Biologically caused that more sweet food preferred better by brain. So, if we want to avoid the paradox, when tasters without information about prices choose the $5 wine as better than others.
It was right use the same wine with different pricing twice. It allows us to find answer on our question.
