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A value analysis model for farm equipment manufacturers

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  • Mark B. Vandenbosch

    (Richard Ivey School of Business, University of Western Ontario)

  • Charles B. Weinberg

    (Commerce and Business Administration, University of British Columbia)

Abstract

We develop and empirically validate a procedure specifically designed to allow farm equipment manufacturers to assess their customer value relative to the competition. Using a combination of psychometric procedures for evaluating farmer judgments (confirmatory factor analysis and conjoint analysis), we develop a comprehensive value analysis model which incorporates many features unique to the farm equipment market. Our approach allows for individual differences in farmer perceptions and preferences of equipment brands and can be implemented in markets where only a few competitors exist. Good empirical results were obtained in a study of the combine harvester market. © 1997 John Wiley & Sons, Inc.

Suggested Citation

  • Mark B. Vandenbosch & Charles B. Weinberg, 1997. "A value analysis model for farm equipment manufacturers," Agribusiness, John Wiley & Sons, Ltd., vol. 13(4), pages 409-421.
    • Handle: RePEc:wly:agribz:v:13:y:1997:i:4:p:409-421
    DOI: 10.1002/(SICI)1520-6297(199707/08)13:4<409::AID-AGR7>3.0.CO;2-2
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    References listed on IDEAS

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    1. Allan D. Shocker & V. Srinivasan, 1974. "A Consumer-Based Methodology for the Identification of New Product Ideas," Management Science, INFORMS, vol. 20(6), pages 921-937, February.
    2. Sudharshan, D. & May, Jerrold H. & Gruca, Thomas, 1988. ": An analytical procedure for generating optimal new product concepts for a differentiated-type strategy," European Journal of Operational Research, Elsevier, vol. 36(1), pages 50-65, July.
    3. L. Wade, 1988. "Review," Public Choice, Springer, vol. 58(1), pages 99-100, July.
    4. S. Chan Choi & Wayne S. Desarbo & Patrick T. Harker, 1990. "Product Positioning Under Price Competition," Management Science, INFORMS, vol. 36(2), pages 175-199, February.
    5. Carl Zulauf & Gary D. Schnitkey, 1989. "Selected US farm machinery market characteristics and their implications for the future," Agribusiness, John Wiley & Sons, Ltd., vol. 5(5), pages 437-447.
    6. Vandenbosch, Mark B. & Weinberg, Charles B., 1994. "Setting the strategic direction in a product-service firm," Journal of Business Research, Elsevier, vol. 31(2-3), pages 117-132.
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    Cited by:

    1. Michael A. Gunderson & Allan W. Gray & Jay T. Akridge, 2009. "Service quality in agronomic inputs: does the hierarchical model apply?," Agribusiness, John Wiley & Sons, Ltd., vol. 25(4), pages 500-519.

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