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Discovering Niche Markets: A Comparison Of Consumer Willingness To Pay For A Local (Colorado Grown), Organic, And Gmo-Free Product

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  • Loureiro, Maria L.
  • Hine, Susan E.

Abstract

Demand for value-added products is highly segmented among different types of consumers. In this paper, we assess consumer preferences for local, organic, and GMO-free potatoes in order to discover their potential niche markets. We identify socio-demographic characteristics that affect consumer preferences and compare the effects of different attributes on consumers' willingness to pay. Results suggest that the attribute "Colorado-Grown" carries a higher premium than organic and GMO-free attributes.

Suggested Citation

  • Loureiro, Maria L. & Hine, Susan E., 2001. "Discovering Niche Markets: A Comparison Of Consumer Willingness To Pay For A Local (Colorado Grown), Organic, And Gmo-Free Product," 2001 Annual meeting, August 5-8, Chicago, IL 20630, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea01:20630
    DOI: 10.22004/ag.econ.20630
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    More about this item

    Keywords

    Consumer/Household Economics;

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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