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IMPACT OF CHANGING CONSUMER PREFERENCES ON WILLINGNESS-TO-PAY FOR BEEF STEAKS IN ALTERNATIVE RETAIL PACKAGING AgEcon
Schmitz, John D.; Menkhaus, Dale J.; Whipple, Glen D.; Hoffman, Elizabeth; Field, Ray A..
The purpose of this study was to identify how consumer perceptions of selected attributes of beef steaks, individual consumer demographics and perceived changes in purchases of substitute meats affect willingness-to-pay for beef rib-eye steaks in the traditional overwrapped styrofoam tray and vacuum skin packages. A laboratory auction was used to obtain willingness-to-pay data. The results suggest that health related factors, particularly the concern regarding cholesterol, reduced the willingness-to-pay for beef rib-eye steaks, regardless of package type. For the vacuum skin package to be successful, information about the package is necessary, along with providing a consistent and quality product, particularly with respect to trim.
Tipo: Journal Article Palavras-chave: Consumer/Household Economics.
Ano: 1993 URL: http://purl.umn.edu/27570
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AN EMPIRICAL APPLICATION OF LABORATORY EXPERIMENTAL AUCTIONS IN MARKETING RESEARCH AgEcon
Menkhaus, Dale J.; Borden, George W.; Whipple, Glen D.; Hoffman, Elizabeth; Field, Ray A..
A laboratory experimental auction was used to determine factors influencing the relative value consumers place on alternative retail beef packaging. Results indicate information is very important for the successful introduction and marketing of the vacuum skin package. Physical appearance of the beef plays a major role in purchasing decisions by consumers, with fat and shape significantly decreasing the value of beef in the vacuum skin package relative to beef in the overwrapped styrofoam tray package. Experimental economics procedures, when combined with traditional marketing research techniques, can provide useful information for marketing decisions and economic analyses.
Tipo: Journal Article Palavras-chave: Consumer/Household Economics; Marketing.
Ano: 1992 URL: http://purl.umn.edu/30741
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