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Value Of Beef Steak Branding: Hedonic Analysis Of Retail Scanner Data

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  • Schulz, Lee L.
  • Schroeder, Ted C.
  • White, Katharine L.

Abstract

Consumers rely upon certain experience and credence attributes when purchasing beef products from the retail meat case. It is essential for all beef industry sectors to recognize the complexity of consumers buying behavior. A hedonic pricing model was estimated to determine if there are incentives to brand beef steaks and to determine what types of brands entertain price premiums and at what levels these premiums exists. Most branded steaks garnered premiums along with organic claim, religious processing claim, and premium steak cuts. Factors influencing brand value were new brands targeting emerging consumer trends, brands with regional prominence, and those positioned as special-labels, program/breed specific, and store brands.

Suggested Citation

  • Schulz, Lee L. & Schroeder, Ted C. & White, Katharine L., 2010. "Value Of Beef Steak Branding: Hedonic Analysis Of Retail Scanner Data," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61596, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea10:61596
    DOI: 10.22004/ag.econ.61596
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    4. Asche, Frank & Bronnmann, Julia & Cojocaru, Andreea L., 2021. "The value of responsibly farmed fish: A hedonic price study of ASC-certified whitefish," Ecological Economics, Elsevier, vol. 188(C).
    5. Hussein, Mohamud & Fraser, Iain & Costanigro, Marco, 2016. "Hedonic Analysis of Origin of Meat In The United Kingdom," 90th Annual Conference, April 4-6, 2016, Warwick University, Coventry, UK 236353, Agricultural Economics Society.
    6. Smed, Sinne & Hansen, Lars Garn, 2018. "Consumer Valuation of Health Attributes in Food," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 43(2), May.
    7. White, Robin R. & Brady, Michael, 2014. "Can consumers’ willingness to pay incentivize adoption of environmental impact reducing technologies in meat animal production?," Food Policy, Elsevier, vol. 49(P1), pages 41-49.
    8. Huang, Weilun & Zhang, Qi, 2020. "Selecting the optimal economic crop in minority regions with the criteria about soil and water conservation," Agricultural Water Management, Elsevier, vol. 241(C).
    9. Martinez, Stephen W., 2011. "Brand Premiums in the U.S. Beef Industry," Journal of Food Distribution Research, Food Distribution Research Society, vol. 42(2), pages 1-15, July.
    10. Steven S. Vickner, 2015. "Estimating the Implicit Price of Convenience: A Hedonic Analysis of the US Breakfast Sausage Market," Agribusiness, John Wiley & Sons, Ltd., vol. 31(2), pages 281-292, April.
    11. Matthias Staudigel & Aleksej Trubnikov, 2022. "High price premiums as barriers to organic meat demand? A hedonic analysis considering species, cut and retail outlet," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 66(2), pages 309-334, April.
    12. Staudigel, Matthias & Trubnikov, Aleksej, 2018. "How do organic price premiums vary across different supply and demand side factors? A hedonic analysis of the German market for fresh meat," 2018 Annual Meeting, August 5-7, Washington, D.C. 273989, Agricultural and Applied Economics Association.
    13. Moon, Donghyun & Kim, Sanghyo, 2021. "Implicit Values of Functional Attributes of Fluid Milk Products: Hedonic Analysis of Korean Fluid Milk Market," 2021 Annual Meeting, August 1-3, Austin, Texas 313948, Agricultural and Applied Economics Association.

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    More about this item

    Keywords

    Food Consumption/Nutrition/Food Safety; Livestock Production/Industries; Marketing;
    All these keywords.

    JEL classification:

    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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