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Value of Beef Steak Branding: Hedonic Analysis of Retail Scanner Data

Published online by Cambridge University Press:  15 September 2016

Lee L. Schulz ,
Ted C. Schroeder  and
Katharine L. White
Lee L. Schulz
Affiliation:
Department of Economics at Iowa State University, Ames
Ted C. Schroeder
Affiliation:
Department of Agricultural Economics at Kansas State University, Manhattan
Katharine L. White
Affiliation:
Department of Agricultural Economics at Kansas State University, Manhattan
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Abstract

Consumers rely on experience and credence attributes when purchasing beef from retailers. It is essential for all beef industry sectors to recognize the complexity of consumer buying behavior. A hedonic model is estimated to determine if there are incentives to brand beef steaks, the types of brands that entertain price premiums, and the level of existing premiums. Most branded steaks garnered premiums along with organic claims, religious processing claims, and premium cuts. Factors influencing brand value were new brands targeting emerging consumer trends, brands with regional prominence, and brands positioned as special label, program/breed specific production, and store labels.

Keywords

beef steakbrand premiumhedonic modeling
Type
Research Article
Information
Agricultural and Resource Economics Review , Volume 41 , Issue 2 , August 2012 , pp. 260 - 273
Copyright
Copyright © 2012 Northeastern Agricultural and Resource Economics Association 

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