Consumers and the Evolution of New Markets: The Case of the Ethical Foods
Changes in consumer preferences have frequently created new markets for new products. This paper explores the antecedents of the changes in consumer preferences and the factors influencing the evolution of niche markets into commodity markets and its speed. The results show that the more embedded characteristics products have and more consumption is driven by attitude, the longer products are able to maintain their uniqueness and the slower their evolution to commodities.
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- Richard G. Lipsey & Gideon Rosenbluth, 1971. "A Contribution to the New Theory of Demand: A Rehabilitation of the Giffen Good," Canadian Journal of Economics, Canadian Economics Association, vol. 4(2), pages 131-163, May.
- D. A. L. Auld, 1974. "Advertising and the Theory of Consumer Choice," The Quarterly Journal of Economics, Oxford University Press, vol. 88(3), pages 480-487.
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