The Greek Olive Oil Market Structure
Food product differentiation leads to significant price variations among the same products, meaning that specific products can be sold in higher prices. An Hedonic Price analysis is adopted to investigate the influence of food differentiation on consumer prices and to identify product attributesâ€™ values for the olive oil market. This will con- tribute to device the most appropriate olive oil differentiation strategies in order to be purchased by consumers in a higher price. The retail price structure was estimated in relation to several product natural attributes, to production and processing conditions, to quality control and to labeling and distribution. Findings demonstrate that olive oil price differentiation is mainly influenced by factors relevant to quality of life, purchase uncertainty, acquisition cost and consumersâ€™ psychological needs. Additionally, vertical integration in production and processing and the retailer size significantly influence the olive oil price formulation
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- Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
- Samir Mili & Manuel Rodríguez Zúñiga, 2001. "Exploring future developments in international olive oil trade and marketing: A Spanish perspective," Agribusiness, John Wiley & Sons, Ltd., vol. 17(3), pages 397-415.
- Capmany, Carlos & Hooker, Neal H. & Ozuna, Teofilo, Jr. & van Tilburg, Aad, 2000. "Iso 9000 -- A Marketing Tool For U.S. Agribusiness," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IFAMA), vol. 3(01).
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