Consumer Preference for Eco-Labeled Seafood in Korea
Bong-Tae Kim () and
Min-Kyu Lee ()
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Bong-Tae Kim: Fisheries Research Division, Korea Maritime Institute, 26 Haeyang-Ro 301Beon-Gil, Yeongdo-Gu, Busan 49111, Korea
Min-Kyu Lee: Graduate School of Management of Technology, Pukyong National University, 365 Sinseon-Ro, Nam-Gu, Busan 48547, Korea
Sustainability, 2018, vol. 10, issue 9, 1-11
In Korea, fishery managers, eco-labeled program operators, and the government need detailed information regarding individual-level preferences for eco-labeled seafood. This study aims to identify the determinants of consumer preference for such seafood. Specifically, an ordered probit model is estimated by using micro-survey data obtained from interviews of 2773 randomly selected Korean households. Overall, the estimation results reveal that the chosen model is appropriate to analyze consumer preference for eco-labeled seafood. The coefficients of consumption frequency, the importance of price, the confirmation of origin, residential area, and household income are statistically meaningful. If consumers consider price an important factor, their consumption of eco-labeled seafood may decrease. Moreover, consumers with interest in the origin of seafood are more likely to accept eco-labeled seafood. To increase the consumption of eco-labeled seafood, it is recommended to develop products designed specifically for segmented markets and promote functional features. The findings can provide a valuable guideline to marketing managers and policy makers for designing effective strategies regarding eco-labeled seafood.
Keywords: consumer preference; eco-labeled seafood; ordered probit model; Korea (search for similar items in EconPapers)
JEL-codes: Q Q0 Q2 Q3 Q5 Q56 O13 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:10:y:2018:i:9:p:3276-:d:169637
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