Consumer evaluation of novel kiwifruit: willingness-to-pay

✍ Scribed by Sara R Jaeger; F Roger Harker

• Publisher: John Wiley and Sons
• Year: 2005
• Tongue: English
• Weight: 135 KB
• Volume: 85
• Category: Article
• ISSN: 0022-5142
• DOI: 10.1002/jsfa.2330

✦ Synopsis

Abstract

This paper introduces a research methodology that adds sophistication to the innovation process for agricultural goods. In recognition of the importance of innovation for the long‐term success of firms and the need for market analysis that goes beyond traditional sensory and consumer preference testing, it is demonstrated how to measure the monetary value consumers place on new market goods. In experimental markets, New Zealand (NZ) consumers were willing to pay on average approximately NZ$0.44 per 100 g to exchange the common green‐fleshed Hayward variety for a new‐to‐market red‐ and yellow‐fleshed kiwifruit variety. At the time of the study this was equivalent to a 179% retail price premium. Knowledge that this new variety was not genetically modified increased the price premium to 240%. These results were elicited from convenience samples and should be treated with caution if used as the sole basis for price setting. Copyright © 2005 Society of Chemical Industry