Research Paper | Agricultural Economics | Bangladesh | Volume 6 Issue 9, September 2017
Determining Consumers? Preference and Willingness to Pay Premium Prices for Organic Beef in Bangladesh
P. K. Sarma
Abstract: Beef is widely accepted as an important source of protein and calcium. Consumer demand for beef has been changing over the time due to urbanization, population growth as well as rural-urban migration among the urban dwellers with increasing beef safety. This study aim to investigate the attributes preferences of consumer products and their willingness to pay (WTP) for organic beef in the city of Dhaka in Bangladesh. The total samples were 180 and collection by using a multi-stage sampling technique. Descriptive statistics and probit regression model were used for data analysis. The results showed that consumer perception and WTP for organic beef is largely influenced by the beef attributes such as Quality, safe, taste and nutrient content followed by freshness, beef, production practices, fat content and the habit of the beef hallal certification. . About 73.33 % beef consumers are willingness to pay an average of 26.12 % price premium per kilogramme. Consumers gender, education, income and awareness about beef safety are positively significant influence WTP for organic beef. The result shows very constructive information about consumer demand, which contains information about sources of beef sector producers about consumer preferences and willingness to pay for quality and selected beef safety for decision makers, especially government agencies and producers new cattle production methods and offer pricing and marketing strategies.
Keywords: Consumer preferences, Probit Model, Beef characteristic, Quality, and WTP
Edition: Volume 6 Issue 9, September 2017,
Pages: 849 - 854
How to Cite this Article?
P. K. Sarma, "Determining Consumers? Preference and Willingness to Pay Premium Prices for Organic Beef in Bangladesh", International Journal of Science and Research (IJSR), Volume 6 Issue 9, September 2017, pp. 849-854, https://www.ijsr.net/get_abstract.php?paper_id=ART20176666
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