Willingness to Pay for Premium Quality Milk of Consumers in Khon Kaen Province

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Anun Teedee
Patcharee Suriya
Yaowarat Sriwaranun

Abstract

The objectives of this research were 1) to examine the mean of the willingness to pay for premium quality milk; and 2) to investigate the factors affecting willingness to pay for premium quality milk. A structured questionnaire was used to collect the data through face to face interviews among 400 milkdrinking and self-purchasing consumers in the Municipality of Khon Kaen Province. Contingent valuation method (CVM) was used to estimate the mean of willingness to pay for premium quality milk and censored regression model was used to analyze the factors affecting willingness to pay for premium quality milk.
The average of the willingness to pay for premium quality milk was 26.75 baht per 200 milliliter. The factors affecting willingness to pay for premium quality milk based on sex, marital status, education level,monthly income, and quality mark. These factors had significant impacts on the level of consumers’ willingness to pay a premium price for premium quality milk. Therefore, target marketing for premium quality milk should focus on consumers being health conscious, product standard awareness, high income, female and single. In addition, the consumers with education less than undergraduate degree are also a target group for the premium quality milk market because they spend less time in making decision and accepting new products.
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How to Cite
Teedee, A., Suriya, P., & Sriwaranun, Y. (2021). Willingness to Pay for Premium Quality Milk of Consumers in Khon Kaen Province. Prawarun Agricultural Journal, 14(2), 258-269. https://doi.org/10.14456/paj.2017.15
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Research Articles