The impact of value orientations on the relative preference of environmental, functional and price attributes of products/Deger egilimlerinin ürünlerin çevresel, fonksiyonel ve fiyat özelliklerinin göreceli tercihlerindeki etkisi

• Published in: Istanbul business research 2013-07, Vol.42 (2), p.254
• Main Author: Genc, Ebru
• Format: Article
• Language: English
• Subjects: Commodity prices; Conjoint analysis; Consumers; Food products; Preferences; Product choice; Studies
• ISSN: 2630-5488

We simultaneously evaluated the environmental, functional and price attributes of a food product by means of a choice-based conjoint experiment. A sample of 146 consumers chose the product most preferred from among many product profiles, which were systematically varied across choice sets with respect to attributes such as organic, fair trade and certified vegan, nutritional value, taste and price. Data on the choices and on value orientations were analyzed using a conditional logit model. This approach enabled us to model product choice as a function of three environmental characteristics, two functional and price attributes and of consumer characteristics. The latter made possible a market segmentation of preference data. The results showed that consumers' preferences for product features depend on their value orientations and that environmental attributes are given relatively more importance by individuals with higher altruistic value orientations, whereas functional attributes are preferred more by individuals with higher egoistic value orientations. We also observed differences among the environmental attributes in terms of their effect on choice. [PUBLICATION ABSTRACT]