The phenomenon that identical products are perceived differently due to differences in price is called the "marketing placebo effect."
As with placebo medications, it has an effect solely due to ascribed properties: "Quality has its price!"
"However, it has so far been unclear how the price information ultimately causes more expensive wine to also be perceived as having a better taste in the brain," said Bernd Weber, from the University of Bonn in Germany.
Thirty participants took part in the study, of which 15 were women and 15 were men, with an average age of around 30 years.
The wine tasting took place lying down in an MRI scanner, allowing brain activity to be recorded "online" while participants were tasting the wines. Each time, the price of the wine was shown first.
Only then around a millilitre of the respective wine was given to the participants via a tube in their mouths. The participants were then asked to rate via a button on a nine- point scale how good the wine tasted to them.
Researchers conducted the tests using an average to good quality red wine with a retail bottle prize of 12 euros.
In the MRI scanner, the price of this wine was shown randomly as 3, 6 and 18 euros.
"As expected, the subjects stated that the wine with the higher price tasted better than an apparently cheaper one," said Hilke Plassmann from the INSEAD Business School in France.
Identical wine leads to a better taste experience when a greater quality expectation is associated with the wine due to its price.
While the medial pre-frontal cortex particularly appears to be involved in integrating the price comparison and thus the expectation into the evaluation of the wine, the ventral striatum forms part of the brain's reward and motivation system.
"The reward and motivation system is activated more significantly with higher prices and apparently increases the taste experience in this way," said Weber.
"Ultimately, the reward and motivation system plays a trick on us," said INSEAD post-doctoral fellow Liane Schmidt.
Disclaimer: No Business Standard Journalist was involved in creation of this content
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