Expectancy Value Model

The expectancy value model refers to a theory of consumer attitude that states that products are ranked by consumers on the basis of their total characteristics. It is a model for the formation of attitudes by the consumer whose assertion is that products are rated by consumers on the basis of their total ratings given that products vary depending on their characteristics. Unlike the disjunctive and conjunctive models, there can never be a minimum rating on a given characteristic that has to be met. A high rating on a specific characteristic may compensate for the low rating of another characteristic. The model is a compensatory model. The model is also known as the Fishbein model.

Where expectancy value model is developed and applied

This value model has been applied in different areas including health, education, communications, marketing, and economics among others. There are variations in different fields. Generally, the model is based on the notion that there are values, expectations, and beliefs that have effects on behavior. It is possible to have more than a single behavior and the chosen behavior has more expected value and success. Over the recent years, this value model has become increasingly popular, becoming a subject of further research.

How it applies

According to this value model, behavior is the expectancy’s function that a person has as well as the value of an objective or goal towards which a person is working for. The approach’s prediction is that, when there are two or more behaviors possible, the chosen behavior is one that has the largest combination in terms of the expected value and success. This value model holds that individuals are usually goal oriented creatures. Their behaviors are in response to values and beliefs that they hold and are aimed at achieving certain ends. Nevertheless, although this value model is used in explaining central concepts of gratifications and uses, there are several factors that may influence the process. For instance, psychological and social origins of the needs, that cause behavior or motivations, can be guided by social circumstances, values and beliefs that lead to seeking certain gratifications via media consumption as well as non-media behaviors.

When this value model applies

The larger suggestion of this value model is that individuals orient themselves globally on the basis of their evaluations and expectations or beliefs. Through the use of this model, attitudes or behavioral orientations are viewed as the expectancy function. This is the probability perceived that an item possesses a given attribute or that a particular behavior has a specific consequence. In terms of evaluation, individuals consider the effect’s degree both negative and positive towards the behavioral outcome or attribute. To understand when this value model is used, it is important to consider an example.

Example

When a person wants to purchase a car, he or she might not like its price. However, the person might purchase it anyway if his or her expectations for its braking performance and fuel efficiency are exceeded by the car.

Who applies the expectancy-value model?

This value model is used by many people when it comes to making decisions. Usually, individuals make decisions on the basis of what they expect as the end results. For instance, a student who expect to sit a difficult final exam, he or she will be more attentive in class. Unless if the individual expects or believes that he or she will fail regardless of what he or she does. Expectations are usually what you expect to happen in the future. Another example is:  It is 1pm. Therefore, you are most likely hungry. Thus, almost everybody applies that expectation model at some point when it comes to making decisions.

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Sources

http://www.businessdictionary.com/definition/expectancy-value-model.html

http://130.18.140.19/persuasion/expectancy-value.html