The Appropriate ‘Price’ of a Sensory Experience

In this chapter we explore the dollar value of sensory experience. In order to add reality to the exploration we position the task as the premium one would pay or not pay for a specific set of sensory experiences to be offered by a specific hotel. The data suggest that there are certain experiences that are simply worth more. It appeared that sound and touch are the most likely experiences to justify higher prices. Instead of looking for general segments, we use a more targeted approach with a systematic exploration, trying to understand which sensory experiences hotel customers prefer in terms of interest and their willingness to pay.