An Empirical Application of Laboratory Experimental Auctions in Marketing Research
A laboratory experimental auction was used to determine factors influencing the relative value consumers place on alternative retail beef packaging. Results indicate information is very important for the successful introduction and marketing of the vacuum skin package. Physical appearance of the bee...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Western Agricultural Economics Association
1992-07-01
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| Series: | Journal of Agricultural and Resource Economics |
| Subjects: | |
| Online Access: | https://ageconsearch.umn.edu/record/30741 |
| _version_ | 1811274221562626048 |
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| author | Dale J. Menkhaus George W. Borden Glen D. Whipple Elizabeth Hoffman Ray A. Field |
| author_facet | Dale J. Menkhaus George W. Borden Glen D. Whipple Elizabeth Hoffman Ray A. Field |
| author_sort | Dale J. Menkhaus |
| collection | DOAJ |
| description | A laboratory experimental auction was used to determine factors influencing the relative value consumers place on alternative retail beef packaging. Results indicate information is very important for the successful introduction and marketing of the vacuum skin package. Physical appearance of the beef plays a major role in purchasing decisions by consumers, with fat and shape significantly decreasing the value of beef in the vacuum skin package relative to beef in the overwrapped styrofoam tray package. Experimental economics procedures, when combined with traditional marketing research techniques, can provide useful information for marketing decisions and economic analyses. |
| first_indexed | 2024-04-12T23:15:01Z |
| format | Article |
| id | doaj.art-7d4bbc24a53f44b9bef0aaeccfdcae2c |
| institution | Directory Open Access Journal |
| issn | 1068-5502 2327-8285 |
| language | English |
| last_indexed | 2024-04-12T23:15:01Z |
| publishDate | 1992-07-01 |
| publisher | Western Agricultural Economics Association |
| record_format | Article |
| series | Journal of Agricultural and Resource Economics |
| spelling | doaj.art-7d4bbc24a53f44b9bef0aaeccfdcae2c2022-12-22T03:12:43ZengWestern Agricultural Economics AssociationJournal of Agricultural and Resource Economics1068-55022327-82851992-07-01171445510.22004/ag.econ.3074130741An Empirical Application of Laboratory Experimental Auctions in Marketing ResearchDale J. MenkhausGeorge W. BordenGlen D. WhippleElizabeth HoffmanRay A. FieldA laboratory experimental auction was used to determine factors influencing the relative value consumers place on alternative retail beef packaging. Results indicate information is very important for the successful introduction and marketing of the vacuum skin package. Physical appearance of the beef plays a major role in purchasing decisions by consumers, with fat and shape significantly decreasing the value of beef in the vacuum skin package relative to beef in the overwrapped styrofoam tray package. Experimental economics procedures, when combined with traditional marketing research techniques, can provide useful information for marketing decisions and economic analyses.https://ageconsearch.umn.edu/record/30741laboratory experimental auctionsmarketing researchretail beef packaging |
| spellingShingle | Dale J. Menkhaus George W. Borden Glen D. Whipple Elizabeth Hoffman Ray A. Field An Empirical Application of Laboratory Experimental Auctions in Marketing Research Journal of Agricultural and Resource Economics laboratory experimental auctions marketing research retail beef packaging |
| title | An Empirical Application of Laboratory Experimental Auctions in Marketing Research |
| title_full | An Empirical Application of Laboratory Experimental Auctions in Marketing Research |
| title_fullStr | An Empirical Application of Laboratory Experimental Auctions in Marketing Research |
| title_full_unstemmed | An Empirical Application of Laboratory Experimental Auctions in Marketing Research |
| title_short | An Empirical Application of Laboratory Experimental Auctions in Marketing Research |
| title_sort | empirical application of laboratory experimental auctions in marketing research |
| topic | laboratory experimental auctions marketing research retail beef packaging |
| url | https://ageconsearch.umn.edu/record/30741 |
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