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

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  • Schulz, Lee L.
  • Schroeder, Ted C.
  • White, Katharine L.
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.

Suggested Citation

  • Schulz, Lee L. & Schroeder, Ted C. & White, Katharine L., 2012. "Value of Beef Steak Branding: Hedonic Analysis of Retail Scanner Data," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 41(2), pages 1-14, August.
    • Handle: RePEc:ags:arerjl:132534
    DOI: 10.22004/ag.econ.132534
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    4. Asche, Frank & Bronnmann, Julia & Cojocaru, Andreea L., 2021. "The value of responsibly farmed fish: A hedonic price study of ASC-certified whitefish," Ecological Economics, Elsevier, vol. 188(C).
    5. Hussein, Mohamud & Fraser, Iain & Costanigro, Marco, 2016. "Hedonic Analysis of Origin of Meat In The United Kingdom," 90th Annual Conference, April 4-6, 2016, Warwick University, Coventry, UK 236353, Agricultural Economics Society.
    6. Smed, Sinne & Hansen, Lars Garn, 2018. "Consumer Valuation of Health Attributes in Food," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 43(2), May.
    7. White, Robin R. & Brady, Michael, 2014. "Can consumers’ willingness to pay incentivize adoption of environmental impact reducing technologies in meat animal production?," Food Policy, Elsevier, vol. 49(P1), pages 41-49.
    8. Huang, Weilun & Zhang, Qi, 2020. "Selecting the optimal economic crop in minority regions with the criteria about soil and water conservation," Agricultural Water Management, Elsevier, vol. 241(C).
    9. Martinez, Stephen W., 2011. "Brand Premiums in the U.S. Beef Industry," Journal of Food Distribution Research, Food Distribution Research Society, vol. 42(2), pages 1-15, July.
    10. Steven S. Vickner, 2015. "Estimating the Implicit Price of Convenience: A Hedonic Analysis of the US Breakfast Sausage Market," Agribusiness, John Wiley & Sons, Ltd., vol. 31(2), pages 281-292, April.
    11. Matthias Staudigel & Aleksej Trubnikov, 2022. "High price premiums as barriers to organic meat demand? A hedonic analysis considering species, cut and retail outlet," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 66(2), pages 309-334, April.
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    13. Moon, Donghyun & Kim, Sanghyo, 2021. "Implicit Values of Functional Attributes of Fluid Milk Products: Hedonic Analysis of Korean Fluid Milk Market," 2021 Annual Meeting, August 1-3, Austin, Texas 313948, Agricultural and Applied Economics Association.

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    Keywords

    Demand and Price Analysis; Marketing;

    JEL classification:

    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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