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In-Store Evaluation of Consumer Willingness to Pay for “Farm-Raised” Pre-Cooked Roast Beef: A Case Study

Author

Listed:
  • Nalley, Lawton Lanier
  • Hudson, Darren
  • Rogers, Robert W.
  • Martin, James M.
  • Herring, Joshua L.

Abstract

A choice-based conjoint experiment was used to examine consumer willingness to pay for a farm-raised pre-cooked roast beef product. Consumers were contacted in a grocery store and provided a sample of the pre-cooked product. Findings indicate there is a small, but statistically significant willingness-to-pay premium for the farm-raised product, suggesting that some product differentiation may result in higher prices for these products. The study outlines an approach to marketing research.

Suggested Citation

  • Nalley, Lawton Lanier & Hudson, Darren & Rogers, Robert W. & Martin, James M. & Herring, Joshua L., 2004. "In-Store Evaluation of Consumer Willingness to Pay for “Farm-Raised” Pre-Cooked Roast Beef: A Case Study," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 22(2), pages 1-11.
    • Handle: RePEc:ags:jloagb:59587
    DOI: 10.22004/ag.econ.59587
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    References listed on IDEAS

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    1. Beggs, S. & Cardell, S. & Hausman, J., 1981. "Assessing the potential demand for electric cars," Journal of Econometrics, Elsevier, vol. 17(1), pages 1-19, September.
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    1. Banerjee, Swagata (Ban) & Martin, Steven W. & Hudson, Darren, 2006. "A Choice-Based Conjoint Experiment with Genetically Engineered Cotton in the Mississippi Delta," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida 35389, Southern Agricultural Economics Association.

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    Keywords

    Livestock Production/Industries; Marketing;

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