Beyond classical van Westendorp: Assessing price sensitivity for variants of algae-based meat substitutes

Ramona Weinrich and Birgit Gassler

Journal of Retailing and Consumer Services, 2021, vol. 63, issue C

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.

Keywords: Willingness to pay (WTP); Sustainable food choices; Food product innovations (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:joreco:v:63:y:2021:i:c:s096969892100285x

DOI: 10.1016/j.jretconser.2021.102719

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