CONSUMER PREFERENCES FOR EXTRINSIC VERSUS INTRINSIC QUALITY CUES FOR IMAGE PRODUCTS: THE CASE OF GREEK QUALITY WINE

Efthalia Dimara, George Baourakis and Nikos Kalogeras
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Efthalia Dimara: Department of Economics, University of Patras, University Campus – Rio, P.O Box 1391, Patras, 26500, Greece
George Baourakis: Mediterranean Agronomic Institute of Chania, Department of Economic, Marketing and Finance, PO. Box: 85, Chania, 73100, Greece
Nikos Kalogeras: Mediterranean Agronomic Institute of Chania, Department of Economic, Marketing and Finance, PO. Box: 85, Chania, 73100, Greece

Chapter 6 in Fuzzy Sets in Management, Economics and Marketing, 2001, pp 83-98 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe extrinsic quality cues of certification and packaging (bottling) and the intrinsic quality cues of aroma and taste are assumed to influence consumer preferences and the decision to purchase the product. Prior research suggests that, for most utilitarian products, intrinsic cues are more important than extrinsic cues. However, evidence suggests that this hypothesis might not be valid for image products. Quality wine, which is an image product, to a great extent, is used for examining consumer preferences towards these two sets of cues. A sample of 744 Greek wine consumers is used to assess the factors influencing consumer attitudes towards these quality cues. An ordered probit model with sample selectivity reveals that these quality cues are valued by consumers and are perceived to be highly important. Furthermore, they possess different socioeconomic and demographic characteristics. Results support the hypothesis that the market is highly fragmented where the importance of extrinsic and intrinsic quality cues on purchasing behaviour is concerned. The type and source of information received by consumers, their place of origin, disposable income, education and marital status all exert an independent effect on attitude formation. The use of quality cues such as certification, bottling, aroma and taste may be potentially useful in creating niche markets and advancing rural localities.

Date: 2001
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