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Willingness-to-Pay for New Products in a University Foodservice Setting

Author

Listed:
  • Zhou, Guzhen
  • Tran Cong, Chinh
  • Poerwanto, Devie A.
  • Goodman, Lucas A.
  • Pelton, Marie E.
  • Vollaro, Michele
  • Childress, Ronald
  • Kaninda Tshikala, Sam
  • He, Xiao
  • Zheng, Zijuan
  • Maynard, Leigh J.

Abstract

A dairy products manufacturer wishing to expand into university foodservice operations collaborated with a graduate marketing class to research student preferences regarding the Company’s products. Baseline and follow-up stated choice surveys and conditional logit analyses were conducted at a land-grant university where the Company’s products were introduced. Brand awareness grew but remained low during the study period. Average WTP estimates for the Company’s most popular product approximated the retail price and resembled WTP for a competing brand. Average WTP for the Company’s other products, however, was considerably lower than the retail price. Significant WTP differences existed among some consumer segments.

Suggested Citation

  • Zhou, Guzhen & Tran Cong, Chinh & Poerwanto, Devie A. & Goodman, Lucas A. & Pelton, Marie E. & Vollaro, Michele & Childress, Ronald & Kaninda Tshikala, Sam & He, Xiao & Zheng, Zijuan & Maynard, Leigh , 2010. "Willingness-to-Pay for New Products in a University Foodservice Setting," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61332, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea10:61332
    DOI: 10.22004/ag.econ.61332
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    References listed on IDEAS

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