Conference paper

Publication year: 2021

Journal: Journal of Retailing and Consumer Services

Volume number: 63

ISSN: 0969-6989

eISSN: 1873-1384

DOI Link: https://doi.org/10.1016/j.jretconser.2021.102719

Conference: 7th International Conference on Research on National Brand and Private Label Marketing (NB and PL)

Publisher: Elsevier

Abstract: 
Food product innovations are characterized by high flop rates. In an early development stage, manifold product formulations seem feasible. To determine the most promising product option, market research can help, but is frequently considered too costly and complex. We assess the applicability of the van Westendorp approach, an inexpensive and simple method, for guiding early product design and pricing decisions for novel foods. Findings from a between-subject experiment for meat substitutes consisting of different shares of micro-algae indicate that micro-algae, while a cost driver, has little effect on price preferences. Implications for novel food product design, market research, and retailing are discussed.

Harvard Citation style: Weinrich, R. and Gassler, B. (2021) Beyond classical van Westendorp: Assessing price sensitivity for variants of algae-based meat substitutes, Journal of Retailing and Consumer Services, 63, Article 102719. https://doi.org/10.1016/j.jretconser.2021.102719

APA Citation style: Weinrich, R., & Gassler, B. (2021). Beyond classical van Westendorp: Assessing price sensitivity for variants of algae-based meat substitutes. Journal of Retailing and Consumer Services. 63, Article 102719. https://doi.org/10.1016/j.jretconser.2021.102719