Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Ambitious goals = satisfaction

18.08.2011
Study by assistant marketing professor finds people are more satisfied if they set ambitious goals as opposed to conservative goals

Consumers who set ambitious goals have a greater level of satisfaction compared to those who set conservative goals, according to a recently published paper by the Cecile K. Cho, a University of California, Riverside assistant marketing professor.

Cho and her co-author and Gita Venkataramani Johar, a professor at Columbia University, set up two experiments to compare people who set ambitious goals to those who set conservative goals. They focused on situations in which goals were achieved, and measured the level of satisfaction with the achieved goals.

"The moral of the story is don't sell yourself short," Cho said. "Aim high."

The paper, "Attaining Satisfaction," has been published online in the Journal of Consumer Research. It will appear in the December issue of the journal.

The paper aimed to answer whether lowering expectations helps manage happiness. The question was answered through two experiments.

In the first one, 134 participants were asked to set a target rate of return that they would be satisfied with and asked to pick from a percentage range of 6, 8, 10, 12, 14, 16, 18 or 20. Low goal setters were defined as those who set the rate at 14 percent of lower. High goal setters were those who set the rate at greater than 14 percent.

Participants were then asked to allocate their $5,400 budget by picking three of 20 fictitious stocks presented to them.

After a 10-minute filler task, participants received the return of their stock portfolio, handwritten by the experimenter so it matched their goal. Participants were led to believe their stock allocation had been entered into a database to get actual returns.

The experimenters then concocted three feedback scenarios.

In the first one, only the stock performance information was provided. This is called the "default" condition of interest. In the second one, the participants were first told the typical return of stocks was 6 percent to 20 percent and then told how their stocks performed. In the last scenario, participants were first reminded what their goal was and then told how their stocks performed. Participants were then asked to rate their satisfaction on 9-point scales.

Of interest is whether all participants, who achieve their goals, are similarly happy. Existing research would predict that those who achieve their goals should be satisfied. Results suggested otherwise.

In the first "default" scenario, high goal setters average satisfaction was 7.85 while low goal setters were at 6.53.

In the third scenario, where the range of possible outcomes was reiterated, a similarly large gap occurred between high-goal setters (8.57) and low goal setters (6.98).

In the second scenario, where participants were reminded of their goal, the gap in happiness level between the two groups disappeared, with high goal setters at 7.72 and low goal setters at 7.46.

This suggested that when people set goals, they don't necessarily recall this goal to evaluate their performance, but recruit a higher comparison point to do so. This upward comparison process likely negatively impacts their satisfaction with the performance of their portfolio.

A second experiment involving puzzles found similar results.

The paper is one of several about happiness and goals written or planned to be written by Cho, whose research focuses on consumer motivation and satisfaction.

A paper she co-authored in the October 2010 issue of the Journal of Consumer Research looked at consumer decisions when confronted with similar products with different features in a controlled experimental setting. She and her colleagues demonstrated consumers who experience heightened conflict due to their shifting motivational state are more likely to be swayed by irrelevant information which often leads to suboptimal choices.

Future papers will look at the reasons people lower their goals and sequential goal setting, in other words if you reach your first goal how does it impact setting a second goal.

Sean Nealon | EurekAlert!
Further information:
http://www.ucr.edu

More articles from Studies and Analyses:

nachricht Drone vs. truck deliveries: Which create less carbon pollution?
31.05.2017 | University of Washington

nachricht New study: How does Europe become a leading player for software and IT services?
03.04.2017 | Fraunhofer-Institut für System- und Innovationsforschung (ISI)

All articles from Studies and Analyses >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Climate satellite: Tracking methane with robust laser technology

Heatwaves in the Arctic, longer periods of vegetation in Europe, severe floods in West Africa – starting in 2021, scientists want to explore the emissions of the greenhouse gas methane with the German-French satellite MERLIN. This is made possible by a new robust laser system of the Fraunhofer Institute for Laser Technology ILT in Aachen, which achieves unprecedented measurement accuracy.

Methane is primarily the result of the decomposition of organic matter. The gas has a 25 times greater warming potential than carbon dioxide, but is not as...

Im Focus: How protons move through a fuel cell

Hydrogen is regarded as the energy source of the future: It is produced with solar power and can be used to generate heat and electricity in fuel cells. Empa researchers have now succeeded in decoding the movement of hydrogen ions in crystals – a key step towards more efficient energy conversion in the hydrogen industry of tomorrow.

As charge carriers, electrons and ions play the leading role in electrochemical energy storage devices and converters such as batteries and fuel cells. Proton...

Im Focus: A unique data centre for cosmological simulations

Scientists from the Excellence Cluster Universe at the Ludwig-Maximilians-Universität Munich have establised "Cosmowebportal", a unique data centre for cosmological simulations located at the Leibniz Supercomputing Centre (LRZ) of the Bavarian Academy of Sciences. The complete results of a series of large hydrodynamical cosmological simulations are available, with data volumes typically exceeding several hundred terabytes. Scientists worldwide can interactively explore these complex simulations via a web interface and directly access the results.

With current telescopes, scientists can observe our Universe’s galaxies and galaxy clusters and their distribution along an invisible cosmic web. From the...

Im Focus: Scientists develop molecular thermometer for contactless measurement using infrared light

Temperature measurements possible even on the smallest scale / Molecular ruby for use in material sciences, biology, and medicine

Chemists at Johannes Gutenberg University Mainz (JGU) in cooperation with researchers of the German Federal Institute for Materials Research and Testing (BAM)...

Im Focus: Optoelectronic Inline Measurement – Accurate to the Nanometer

Germany counts high-precision manufacturing processes among its advantages as a location. It’s not just the aerospace and automotive industries that require almost waste-free, high-precision manufacturing to provide an efficient way of testing the shape and orientation tolerances of products. Since current inline measurement technology not yet provides the required accuracy, the Fraunhofer Institute for Laser Technology ILT is collaborating with four renowned industry partners in the INSPIRE project to develop inline sensors with a new accuracy class. Funded by the German Federal Ministry of Education and Research (BMBF), the project is scheduled to run until the end of 2019.

New Manufacturing Technologies for New Products

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Plants are networkers

19.06.2017 | Event News

Digital Survival Training for Executives

13.06.2017 | Event News

Global Learning Council Summit 2017

13.06.2017 | Event News

 
Latest News

A new technique isolates neuronal activity during memory consolidation

22.06.2017 | Life Sciences

Plant inspiration could lead to flexible electronics

22.06.2017 | Materials Sciences

A rhodium-based catalyst for making organosilicon using less precious metal

22.06.2017 | Materials Sciences

VideoLinks
B2B-VideoLinks
More VideoLinks >>>