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- Title
Willingness to Pay for Alternate Merchandising Strategy of Beef Top Round.
- Authors
Thompson, Jada; Kibler, Michelle; Dahal, Bhishma; Epperson, Brooke; Puga, Kendelle; Van Buren, Jessie; Bass, Phil; Smith, Kasee; Colle, Michael
- Abstract
Whole top round steaks can lack color uniformity between the deep and superficial cuts, leading to changes in consumers' willingness to pay (WTP), potentially leading to wasted meat products or loss in revenue. A choice experiment was used to elicit consumers' preferences and WTP for alternate merchandising strategies of whole beef top round steaks. Using a two-stage model, results show heterogeneity in the purchase decision across steak and respondent characteristics with differences in purchase likelihood and WTP. Results indicate that consumers may be open to alternative merchandising strategies in markets that struggle with excessive margin losses, increased labor demands, or meat waste.
- Subjects
WILLINGNESS to pay; BUSINESS revenue; MERCHANDISING; LABOR demand; MARKETING strategy; CONSUMER preferences; BEEF quality
- Publication
Journal of Food Distribution Research, 2024, Vol 55, Issue 1, p32
- ISSN
0047-245X
- Publication type
Article