Marketing Biotech Soybeans with Functional Health Attributes
Abstract"This study investigates possible marketing strategies for biotechnology (biotech) functional foods in the U.S. market. Means-end chain theory is used to translate consumer product knowledge into self-knowledge, where knowledge is presumed to be organized in a hierarchy with concrete thoughts linked to more abstract thoughts in a sequence progressing from means to ends. A sample of 60 households was randomly drawn from the population of a Midwest town. The random sample was drawn from a population of females aged 20 to 50 with children and who regularly purchase yogurt products. Eight products with various attributes and production technologies were ranked by the participants prior to a hard laddering interview. The study found that biotech functional foods were generally acceptable to the participants. Functional attributes, such as higher protein, increased calcium, and lower cholesterol, were valued by the consumers. Soy was considered inferior on the basis of taste for some segments of consumers unfamiliar with soymilk. On the other hand, consumers already purchasing soymilk were more willing to purchase functional soy attributes and have more complex purchasing decisions (cognitive maps). These consumers associate soy with attaining values of "better health,""taking care of family,""happiness," and "more choice."" Copyright 2006 Canadian Agricultural Economics Society.
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Bibliographic InfoArticle provided by Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie in its journal Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie.
Volume (Year): 54 (2006)
Issue (Month): 4 (December)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0008-3976
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- Parcell, Joseph L. & Cain, Jewelwayne, 2013. "Drought Tolerance of Soybean Crops in Missouri," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 142507, Southern Agricultural Economics Association.
- Ramo Barrena & Mercedes Sánchez, 2010. "The link between household structure and the level of abstraction in the purchase decision process: an analysis using a functional food," Agribusiness, John Wiley & Sons, Ltd., vol. 26(2), pages 243-264.
- Bechtold, Kai-Brit & Abdulai, Awudu, 2012. "Willingness-To-Pay for Functional Dairy Products and the Influence of Starting Point Bias: Empirical Evidence for Germany," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124776, Agricultural and Applied Economics Association.
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