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‘Made in the USA’ commands premium: research
Story Date: 3/19/2012
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Source: Lisa M. Keefe, MEATINGPLACE, 3/16/12
In new research that could have implications for processors that export, shoppers were found to prefer, and to be willing to spend more on, an item that originated from a country with a “favorable reputation,” versus the same item produced in a country with an “unfavorable” reputation.
In an article in the Journal of International Marketing, the study’s authors, all from Germany, describe asking college students about their preferences and willingness to pay for items such as a bottle of Evian-branded water or Nike shoes. When the water was said to be bottled in France (favorable reputation), students were willing to pay more than for the same bottle originating in Turkey (unfavorable). Nike shoes made in the U.S. theoretically commanded a higher price than Nike shoes made in South Korea.
“Further experiments, however, showed that the price differential becomes less substantial the more familiar consumers are with the brand in question, regardless of where the brand originates,” the authors said, in a news release about the research.
Researchers felt that the findings could help marketers make better pricing decisions. Considering the global reach of the meat industry, an exporter may be able to add some to the bottom line with that COOL-inspired “Product of the U.S.” label.
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