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Consumers’ Willingness-to-Pay for Retail Branded Beef Products with Bundled Attributes

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  • Franken, Jason R.V.
  • Parcell, Joseph L.
  • Tonsor, Glynn T.

Abstract

With a declining share of the domestic meat market, some beef producers are becoming more attentive to opportunities for value-added products tailored to the desires of certain consumer segments. Using a survey of St. Louis and Kansas City, Missouri meat consumers, this study investigates perceptions of and willingness-to-pay for various value-added attributes that could be supplied as retail branded beef products. Factor analysis identifies two alternative attribute bundles as branding strategies based on perceived importance and complementarity of attributes. Nonparametric procedures provide conservative estimates of willingness-to-pay. Parametric methods identify types of consumers willing to pay significantly higher premiums.

Suggested Citation

  • Franken, Jason R.V. & Parcell, Joseph L. & Tonsor, Glynn T., 2011. "Consumers’ Willingness-to-Pay for Retail Branded Beef Products with Bundled Attributes," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103609, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea11:103609
    DOI: 10.22004/ag.econ.103609
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    References listed on IDEAS

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    2. Haab, Timothy C. & McConnell, Kenneth E., 1997. "Referendum Models and Negative Willingness to Pay: Alternative Solutions," Journal of Environmental Economics and Management, Elsevier, vol. 32(2), pages 251-270, February.
    3. Springer, Job D. & Biermacher, Jon T. & Childs, M. Dan & Alkire, Deke O. & Grooms, Brandon, 2009. "Attributes Preferred and Premiums Offered for Naturally Produced Beef Cattle," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46859, Southern Agricultural Economics Association.
    4. Gillespie, Jeffrey M. & Basarir, Aydin & Schupp, Alvin R., 2004. "Beef Producer Choice in Cattle Marketing," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 22(2), pages 1-13.
    5. Ken Belcher & Andrea Germann & Josef Schmutz, 2007. "Beef with environmental and quality attributes: Preferences of environmental group and general population consumers in Saskatchewan, Canada," Agriculture and Human Values, Springer;The Agriculture, Food, & Human Values Society (AFHVS), vol. 24(3), pages 333-342, September.
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    Cited by:

    1. Merritt, Meagan G. & Delong, Karen Lewis & Griffith, Andrew P. & Jensen, Kimberly L., 2018. "Consumer Willingness To Pay For Tennessee Certified Beef," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 50(2), pages 233-254, May.

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