Examining the Impact of Negative Attributes On Consumer Preference and Willingness to Pay in the Vacation Ownership Industry: A Conjoint Analysis

2013 ◽  
Vol 02 (03) ◽  
Author(s):  
Amy M. Gregory
Keyword(s):  
Willingness To Pay ◽  
Conjoint Analysis ◽  
Consumer Preference ◽  
Vacation Ownership ◽  
The Impact ◽  
Negative Attributes

scholarly journals Consumer Preference and Willingness to Pay for Azaleas: Effect of State Labeling and Various Types of Retail Outlets

HortScience ◽  
2016 ◽  
Vol 51 (8) ◽  
pp. 1026-1030
Author(s):  
Madiha Zaffou ◽  
Benjamin L. Campbell
Keyword(s):  
Willingness To Pay ◽  
Online Survey ◽  
Latent Class ◽  
Latent Class Model ◽  
Consumer Preference ◽  
Class Model ◽  
Home Improvement ◽  
Retail Outlets ◽  
Locally Grown ◽  
The Impact

Over the last decade, there has been a move by many consumers to purchase locally grown products. Many studies have focused on food with limited studies examining plants. Using an online survey of Connecticut residents in conjunction with a choice experiment, we examine the impact of various attributes (e.g., local labeling, retail outlet, color, bloom, and price) on preference and willingness to pay (WTP) for azaleas. Results of the latent class model (LCM) indicate that only one of the latent classes, ≈43% of the sample, valued local labeling. Furthermore, the same class that valued local also preferred a nursery/greenhouse outlet over a home improvement center/mass merchandiser. Recommendations for the different retail outlets are given based on the results.

scholarly journals Willingness-to-pay Comparisons for Flats of Groundcover Plants in Plantable Containers: Consumers versus Commercial Buyers in Kentucky

HortScience ◽  
2015 ◽  
Vol 50 (3) ◽  
pp. 408-411
Author(s):  
Dewayne L. Ingram ◽  
Timothy A. Woods ◽  
Wuyang Hu ◽  
Susmitha S. Nambuthiri
Keyword(s):  
Willingness To Pay ◽  
Conjoint Analysis ◽  
Negative Impact ◽  
Landscape Management ◽  
Consumer Preference ◽  
Sustainable Practices ◽  
Ajuga Reptans ◽  
Sustainable Products ◽  
Increasing Demand ◽  
Plastic Containers

Increasing demand for groundcover plants and increasing consumer preference for more sustainable products encourage nursery crop producers and landscape management companies to assess efficiency and sustainable practices. Ajuga reptans ‘Bronze Beauty’ and Sedum kamtschaticum ‘Variegatum’ were grown in standard plastic containers or plantable containers (Ellepot and SoilWrap) and 12- or 18-count flats. These production alternatives were presented in personal surveys of commercial industry personnel and consumers to determine their willingness to pay for these attributes. A conjoint analysis revealed an affinity for both groups to purchase flats of groundcovers and preferred sedum over ajuga. Commercial buyers from larger companies were more likely to purchase plantable containers than those from smaller firms. Generally, flats of Ellepots were preferred over flats of SoilWraps and 18-count over 12-count flats by commercial buyers. Price had a negative impact on consumer willingness to pay. Consumers revealed no specific preference for the plantable containers, although preference for plastic containers declined with age and presence of children at home.

scholarly journals Consumer perceptions of climate change and willingness to pay for mandatory implementation of low carbon labels: the case of South Korea

2016 ◽  
Vol 19 (4) ◽  
pp. 129-144
Author(s):  
Hyeyoung Kim ◽  
Lisa A. House ◽  
Tae-Kyun Kim
Keyword(s):  
Climate Change ◽  
Willingness To Pay ◽  
Consumer Preference ◽  
Low Carbon ◽  
Personal Lives ◽  
Face To Face ◽  
Impact Of Climate Change ◽  
South Korean ◽  
Consumer Values ◽  
The Impact

The purpose of this study is to examine consumer values for mandatory carbon labels incorporating South Korean consumers’ perceptions about climate change using conjoint analysis. In a face-to-face consumer survey, we asked about individuals’ perceptions of the impact of climate change on their personal lives to measure its effect on consumer preference for carbon labels. The results of ordered logit and conditional logit regressions showed that a significant preference for mandatory carbon labels reflected Koreans’ level of concern about climate change. As an increasing number of consumers feel the impact of climate change, the gap of willingness to pay between voluntary and mandatory low carbon labels is significant. Also, consumer perception of the impact of climate change on their personal lives was significantly influenced by the area in which the respondents’ lived.

Willingness of Adults in Europe to Pay for a New Vaccine: The Application of Discrete Choice-Based Conjoint Analysis

2002 ◽  
Vol 44 (4) ◽  
pp. 1-13 ◽  
Author(s):  
Claudine Sapede ◽  
Isabelle Girod
Keyword(s):  
Willingness To Pay ◽  
Conjoint Analysis ◽  
Discrete Choice ◽  
Important Group ◽  
Product Features ◽  
Vaccine Product ◽  
Product Profile ◽  
The Impact ◽  
New Vaccines

This paper summarises the results of an investigation of willingness to pay (WTP) for new vaccines. The vaccines considered are for infections with several subtypes. One option is to cover a broad combination of these within one vaccine although this is associated with additional development complexities. The associated durations of effect of such vaccines are not yet known; therefore the impact of variations in this and the subtype coverage, as well as that of opting for a non-reimbursement status, were among the issues that needed to be assessed. One important group for a determination of WTP is parents, in that they could be paying for vaccination of themselves and/or their children. This paper reports the findings of WTP among this group for their children for alternative outcomes in the vaccine product profile. For reasons of confidentiality, results from only this group in the context of paying for their children are reported. The exact wording of the product features tested have also been changed for the same reason.

scholarly journals Impact of Information on Northeastern U.S. Consumer Willingness to Pay for Aronia Berries

HortScience ◽  
2017 ◽  
Vol 52 (3) ◽  
pp. 395-400 ◽  
Author(s):  
Omer Hoke ◽  
Benjamin Campbell ◽  
Mark Brand ◽  
Thao Hau
Keyword(s):  
United States ◽  
Willingness To Pay ◽  
Health Information ◽  
Consumer Preference ◽  
The United States ◽  
Vaccinium Corymbosum ◽  
Rubus Idaeus ◽  
Grocery Store ◽  
Black Currant ◽  
The Impact

Consumption of berries has increased significantly over the past couple of years. As such, producers and retailers are experimenting with new berry varieties to capture market share and increase their profitability. We examine consumer preference and willingness to pay (WTP) for a relatively new-to-market berry (aronia: Aronia mitschurinii Skvortsov et Maitulina) compared with another relatively new berry (black currant: Ribes nigrum L.) as well as more traditional (raspberry: Rubus idaeus L., blueberry: Vaccinium corymbosum L., and blackberry: Rubus fruticosus L.) berries. Given that aronia berries have an astringent/bitter flavor while having high antioxidant levels we investigate how taste and health information impact preference and WTP. Furthermore, we add to the literature by investigating the differences in WTP for locally and nonlocally (regional, the United States, and outside the United States) labeled berries across varying retail outlets (i.e., farmer’s markets, farm stands, grocery store). We find that new berries (aronia and black currant) are heavily discounted compared with more traditional berries. Potentially negative taste information (i.e., astringent/bitter flavor) has a negative impact on WTP, whereas positive health information has a positive impact on WTP. The positive effect of health information tends to offset the impact of the negative taste information. With respect to local labeling and retail outlet, locally labeled berries at a farmer’s market and farm stand have WTP values similar to locally labeled berries at a grocery store. On the other hand, nonlocally labeled berries sold at a grocery store were discounted compared with locally labeled berries at a grocery store.

The Impact of Sustainability on Consumer Preference Judgments of Product Attributes

2015 ◽  
Vol 137 (8) ◽  
Author(s):  
Kosa Goucher-Lambert ◽  
Jonathan Cagan
Keyword(s):  
Environmental Impact ◽  
Conjoint Analysis ◽  
Discrete Choice ◽  
Consumer Preference ◽  
Product Configuration ◽  
Product Attributes ◽  
Moral Choice ◽  
Form Function ◽  
Analysis Experiment ◽  
The Impact

Despite significant interest from consumers, sustainable products often struggle to find success in the marketplace. This failure is frequently attributed to the perception that consumers remain unwilling to sacrifice product attributes such as form, function, or price in order to adopt a product whose environmental impact is less than that of a competing product. This work aims to better understand how knowing a product's environmental impact affects preference for that product's disparate attributes. Three products of various monetary investments and numbers of relevant features were explored through a conjoint analysis experiment that uncovers consumer preference for discrete form, function, and price attributes. In this work, single use spoons, reusable water bottles, and home washing machines were used for analysis. These three products were decomposed into form, function, and price attributes that were varied in discrete levels. After a form-only ratings-based conjoint analysis study was conducted to find high, medium, and low preference form designs for each participant, two separate form–function–price discrete choice studies were conducted for each of the three products. These two discrete choice trials were identical in all aspects except in the second trial participants were provided with calculated environmental impact values for all design configurations; the presented environmental impact information was a dependent variable based on a life cycle analysis calculation using the current product configuration being shown to the participant. Further, adding this information raises the decision to one of a social or moral choice. Results show that when participants are provided with this additional piece of information, their preference for form, function, and price attributes of a product is greatly impacted. In particular, we find that for the products chosen here, the importance of functional attributes increases in the context of environmental impact metrics, while the importance of form decreases and the importance of price decreases modestly. In other words, placing the preference judgment within a social or moral choice context changes decisions about product preferences.

The Impact of Sustainability on Consumer Preference Judgments of Product Attributes

2014 ◽  
Author(s):  
Kosa Goucher-Lambert ◽  
Jonathan Cagan
Keyword(s):  
Environmental Impact ◽  
Conjoint Analysis ◽  
Discrete Choice ◽  
Consumer Preference ◽  
Product Configuration ◽  
Product Attributes ◽  
Sustainable Products ◽  
Form Function ◽  
Analysis Experiment ◽  
The Impact

Despite significant interest from consumers, sustainable products often struggle to find success in the marketplace. This failure is often attributed to the perception that consumers remain unwilling to sacrifice product attributes such as form, function, or price in order to adopt a product whose environmental impact is less than that of a competing product. This work aims to better understand how knowing a product’s environmental impact affects preference for that product’s disparate attributes. Three products of various complexities are explored through a conjoint analysis experiment that uncovers consumer preference for discrete form, function and price attributes. In this work, single use spoons, reusable water bottles, and home washing machines were used for analysis. These three products were decomposed into form, function, and price attributes that were varied at discrete levels. After a form-only ratings-based conjoint analysis study was conducted to find high, medium, and low preference form designs for each participant, two separate form-function-price discrete choice studies were conducted for each of the three products. These two discrete choice trials were identical in all aspects except in the second trial participants were provided with calculated environmental impact values for all design configurations; the presented environmental impact information was a dependent variable based on a Life Cycle Analysis calculation using the current product configuration being shown to the participant. Results show that when participants are provided with this additional piece of information, their preference for form, function, and price attributes of a product is greatly impacted. In particular we find that the importance of functional attributes increases in the context of environmental impact metrics, while the importance of form decreases and the importance of price decreases modestly.

scholarly journals Do millennials value travel time differently because of productive multitasking? A revealed-preference study of Northern California commuters

2021 ◽  
Author(s):  
Aliaksandr Malokin ◽  
Giovanni Circella ◽  
Patricia L. Mokhtarian
Keyword(s):  
Older Adults ◽  
Young Adults ◽  
Willingness To Pay ◽  
Travel Time ◽  
Choice Model ◽  
Mode Choice ◽  
Revealed Preference ◽  
Northern California ◽  
Factors Affecting ◽  
The Impact

AbstractMillennials, the demographic cohort born in the last two decades of the twentieth century, are reported to adopt information and communication technologies (ICTs) in their everyday lives, including travel, to a greater extent than older generations. As ICT-driven travel-based multitasking influences travelers’ experience and satisfaction in various ways, millennials are expected to be affected at a greater scale. Still, to our knowledge, no previous studies have specifically focused on the impact of travel multitasking on travel behavior and the value of travel time (VOTT) of young adults. To address this gap, we use an original dataset collected among Northern California commuters (N = 2216) to analyze the magnitude and significance of individual and household-level factors affecting commute mode choice. We estimate a revealed-preference mode choice model and investigate the differences between millennials and older adults in the sample. Additionally, we conduct a sensitivity analysis to explore how incorporation of explanatory factors such as attitudes and propensity to multitask while traveling in mode choice models affects coefficient estimates, VOTT, and willingness to pay to use a laptop on the commute. Compared to non-millennials, the mode choice of millennials is found to be less affected by socio-economic characteristics and more strongly influenced by the activities performed while traveling. Young adults are found to have lower VOTT than older adults for both in-vehicle (15.0% less) and out-of-vehicle travel time (15.7% less), and higher willingness to pay (in time or money) to use a laptop, even after controlling for demographic traits, personal attitudes, and the propensity to multitask. This study contributes to better understanding the commuting behavior of millennials, and the factors affecting it, a topic of interest to transportation researchers, planners, and practitioners.

scholarly journals The Impact of Environmental Sustainability Labels on Willingness-to-Pay for Foods: A Systematic Review and Meta-Analysis of Discrete Choice Experiments

Nutrients ◽  
2021 ◽  
Vol 13 (8) ◽  
pp. 2677
Author(s):  
Anastasios Bastounis ◽  
John Buckell ◽  
Jamie Hartmann-Boyce ◽  
Brian Cook ◽  
Sarah King ◽  
...  
Keyword(s):  
Willingness To Pay ◽  
Discrete Choice ◽  
Environmental Sustainability ◽  
Purchasing Power Parity ◽  
Meta Analysis ◽  
Choice Experiments ◽  
Discrete Choice Experiments ◽  
Environmental Damage ◽  
Environmentally Sustainable ◽  
The Impact

Food production is a major contributor to environmental damage. More environmentally sustainable foods could incur higher costs for consumers. In this review, we explore whether consumers are willing to pay (WTP) more for foods with environmental sustainability labels (‘ecolabels’). Six electronic databases were searched for experiments on consumers’ willingness to pay for ecolabelled food. Monetary values were converted to Purchasing Power Parity dollars and adjusted for country-specific inflation. Studies were meta-analysed and effect sizes with confidence intervals were calculated for the whole sample and for pre-specified subgroups defined as meat-dairy, seafood, and fruits-vegetables-nuts. Meta-regressions tested the role of label attributes and demographic characteristics on participants’ WTP. Forty-three discrete choice experiments (DCEs) with 41,777 participants were eligible for inclusion. Thirty-five DCEs (n = 35,725) had usable data for the meta-analysis. Participants were willing to pay a premium of 3.79 PPP$/kg (95%CI 2.7, 4.89, p ≤ 0.001) for ecolabelled foods. WTP was higher for organic labels compared to other labels. Women and people with lower levels of education expressed higher WTP. Ecolabels may increase consumers’ willingness to pay more for environmentally sustainable products and could be part of a strategy to encourage a transition to more sustainable diets.

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