Discovering Niche Markets: A Comparison of Consumer Willingness to Pay for Local (Colorado Grown), Organic, and GMO-Free Products
- 28 April 2002
- journal article
- research article
- Published by Cambridge University Press (CUP) in Journal of Agricultural and Applied Economics
- Vol. 34 (3), 477-487
- https://doi.org/10.1017/s1074070800009251
Abstract
Demand for value-added products is highly segmented among different types of consumers. In this article, we assess consumer preferences for local, organic, and GMO-free potatoes in order to discover their potential niche markets. We identify sociodemographic characteristics that affect consumer preferences and compare the effects of different attributes on consumers' willingness to pay. Results suggest that the attribute “Colorado grown” carries a higher willingness to pay than organic and GMO-free attributes.Keywords
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