The Economic Effects of New-Product Beef Promotion in Guatemala
The United States Meat Export Federation (USMEF) implemented a new-product promotion program to increase exports of U.S. beef to Guatemala in response to the implementation of the Central America-Dominican Republic Free Trade Agreement (CAFTA-DR). Consumer responsiveness and the effectiveness of the U.S.-branded beef promotion program were analyzed in this study. Demand responses to promotion activities that launched three new U.S. beef cuts in Guatemala were estimated by applying the Parks procedure to pooled, time-series, and cross-sectional data. Empirical results indicated that the promotion increased demand.
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