According to a quantitative market research study, consumers are willing to pay a premium for branded meat, despite a lack of familiarity with many meat brands.
This was discovered by US Midan Marketing and Shugoll Research’s “Power of Brands: Assessing the Role of Branding in Meat Selection and Purchase”.
An online survey of 600 consumers in four US cities was conducted in December 2007 and distributed equally among beef, chicken and pork users.
The research said that while consumers are aware of different brands in the meat case, many are not able to spontaneously recall brands of beef, pork and chicken when asked. Chicken recall was greater than beef and pork, with 71% of consumers able to identify at least one chicken brand.
However, approx. 50% of the respondents were not able to name at least one pork brand, and 46% were not able to name a beef brand.
Results also indicate that supermarket customers are willing to pay a premium for branded meat. When asked how much more they are willing to pay for their preferred brand of meat on a percentage basis, 84% said they are willing to pay 5% more, 76% are willing to pay 10% more and 55% are willing to pay 20% more.
â€¢ Power of Brands