Anticipation Of Wellbeing And Its Lessons For Marketers

The holidays create joy and anticipation. Readers of a certain vintage can relate to the joyous anticipation of childhood holidays, dropping off school books, reuniting with cousins ​​in their hometowns, and savoring dishes made by relatives. A holiday is enjoyed as much from the anticipation as from the actual holiday itself.

It was with a sense of anticipation that I took off for a well-earned one-week holiday at a wellness and health resort in South India. It came with great recommendations from close friends and also had a seal of approval from famous politicians, film stars and cricketers – who attested to the transformative treatments offered at this idyllic resort. I envisioned a healthy, rejuvenated self, and eagerly enjoyed the experience that lay ahead. Mindful envisions dull days through a wide range of wellness treatments, drawing from ancient natural practices, yoga and meditation techniques, all designed to revitalize the mind, body and spirit. I looked forward to spending time in the delightful company of the PG Wodehouse classics, seven books in all, chronicling the escapades of Bertie Wooster and Jeeves and guaranteed to bring on a smile.

In economics, the concept of expectancy as a driver of ‘utility’ dates back to 1905, when William Stanley Jevons put forward the idea that anticipation of a future event itself can contribute to the overall utility derived from consumption. Expectancy in this context refers to the value-added pleasure derived from delayed consumption, and resulting in an “increase in valuation” or “positive utility”—called the expectancy effect. This concept holds importance in understanding consumer behavior and formulating effective marketing strategies.

Such anticipation is different from ‘surprise’, which is absolutely unexpected. However, anticipation refers to future situations that people can see as coming, and for which we prepare. In this sense both are contradictory. Anticipation can actually be seen as a strategy to avoid surprises.

Anticipation and expectation, although used interchangeably by marketers, are also different concepts. The former have a deeper level of personal engagement and arise primarily in situations aligned with the pursuit of one’s goals. It includes active planning, visualization, anticipatory feelings, and preparatory actions. This leads to expectations, which in themselves become passive and can be formed in different circumstances.

For example, you expect an iPhone to be expensive and innovative. Such expectations, a stable construct, are often based on past knowledge and general assumptions. However, the anticipation of specific features is usually high among Apple enthusiasts who follow the brand and eagerly await the release of each new model. For such fans, anticipation goes beyond normal expectations and involves seeking and analyzing information about what’s new.

Anticipation is also different from hope. While hope is a positive emotion that can be invoked even when the likelihood of an event is low, anticipation encompasses a wide range of emotional experiences and includes a wide range of affects. It is usually associated with situations where the predicted probability of the predicted outcome is high.

Back to my anticipation of a well deserved vacation. My hope for a quiet place where I would find solace was dashed with regret. To my surprise and growing dismay, the resort was packed with around 700-800 individuals, all driven by similar wellness aspirations. Instead of the peaceful retreat I had envisioned, I found myself immersed in a bustling community where I was no longer a ‘wellness tourist’ or a ‘guest’, but was seen as a ‘patient’ and a was subject to a rigid and tightly scheduled regime. , The days were to start at 5 am, with a series of yogic exercises and intense sessions. While I understood the intent of the program, the communal nature of the exercises made me yearn for personal space and semblance of solitude. Instead of the calmness of the ‘me-time’ I craved, each day dragged on as an endurance test, as I was expected to hop from one activity to the next, with even more strenuous rituals ahead. With the promise of The anticipation effect wore off within 24 hours and I gave up on my wellness pursuit.

In retrospect, this was a case of a welfare opportunity lost and a marketing lesson learned. Anticipated disclosures may differ significantly from consumer expectations, resulting in surprises and dashed hopes. This highlights the importance for marketers and observers of consumer behavior to fully understand the effects of expectancy. The potential for dissonance is greatest when consumer expectation is high. They should then work to bridge the expectation gap and manage consumer expectations more effectively.

Tulsi Jayakumar is Professor, Finance and Economics and Executive Director, Center for Family Business and Entrepreneurship, SPJIMR, Bhavan. These are the personal views of the author.

Updated: June 16, 2023, 12:28 AM IST