Episode 303 – Michelin Stars, Expert Influence, and Customer Expectations
The Michelin Guide and its infamous star rating system have incredible influence in the culinary world. Many chefs spend their entire careers chasing a star, and financiers see a high rating as the pinnace for a successful investment. But how do the changing tastes of the ultimate culinary tastemakers affect customer satisfaction? In a new paper, Puneet Manchanda, Isadore and Leon Winkelman Professor of Marketing, and collaborators explore the impact of reduced Michelin ratings on consumer sentiment and review content.
Leveraging consumer reviews from TripAdvisor and Michelin Guide data for Great Britain & Ireland between 2010 and 2020, the research estimates that a decrease in Michelin stars often leads to improved consumer review ratings. In the paper, which is forthcoming in Management Science, the researchers explore potential explanations for this result.
Manchanda joined this episode of the Business and Society podcast to discuss his paper, “Can Lower(ed) Expert Opinions Lead to Better Consumer Ratings?: The Case of Michelin Stars.” He shares insights on the restaurant industry, how expert opinions affect customer satisfaction, and the role of tastemakers in a media landscape dominated by influencers.
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About the participants
Host: JT Godfrey
Producers: JT Godfrey and Jeff Karoub
Guests: Professor Puneet Manchanda
Audio Engineer: Jonah Brockman
Editorial Production: Mads Henke
