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Document Type

Thesis - University Access Only

Award Date

2013

Degree Name

Master of Science (MS)

Department

Economics

First Advisor

Kuo-Liang Chang

Abstract

The objective of this study was to measure consumers’ preferences and willingness to pay for locally produced rib-eye steak in the eastern part of South Dakota. To be able to achieve this objective, a choice-based conjoint method was implemented to conduct a survey and a conditional logit model approach was used to analyze the data. The data source for this study was derived from a 2011 survey administered to consumers at different farmers’ markets in Sioux Falls, Brookings, Huron, and De Smet. A total of 212 respondents provided usable data for a response rate of approximately 30%. Estimated coefficients of the conditional logit showed that our sample respondents revealed a significant preference for SD Certified and locally produced steaks compared to steaks produced under a national brand. In addition, results showed that consumers revealed higher price premiums for the color and the juiciness of their steaks than for the fat content and the production methods when purchasing the rib-eye steaks. This study aims to provide insightful marketing and production information for local producers to sustain and grow the economy in South Dakota, and allow processors, marketers, and suppliers of rib-eye steak to satisfy the needs and preferences of consumers efficiently.

Library of Congress Subject Headings

Beef steaks--Purchasing--South Dakota--Public opinion
Consumers' preferences--South Dakota
Consumer behavior--South Dakota
Willingness to pay--South Dakota
Local foods--South Dakota

Description

Includes bibliographical references (pages 67-76).

Format

application/pdf

Number of Pages

109

Publisher

South Dakota State University

Rights

In Copyright - Educational Use Permitted
http://rightsstatements.org/vocab/InC-EDU/1.0/

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