Customer value toward innovative food products: Empirical evidence from two international markets

Toula Perrea; Polymeros Chrysochou; Athanasios Krystallis

doi:10.1016/j.ifset.2023.103293

Customer value toward innovative food products: Empirical evidence from two international markets

Toula Perrea, Polymeros Chrysochou^*, Athanasios Krystallis

^*Corresponding author for this work

Department of Management - MAPP - Research on Value Creation in the Food Sector

Research output: Contribution to journal/Conference contribution in journal/Contribution to newspaper › Journal article › Research › peer-review

12 Downloads (Pure)

Abstract

Food technologies often have an ambivalent effect on customer value perceptions toward innovative food products. While objective benefits may contribute positively to customer value perceptions, subjective negative evaluations may subtract value. In this paper we propose a model and provide empirical evidence on how customer value is constructed and its relationship with willingness to pay in the context of innovative food products. We test our model in a cross-sectional study across two international markets (the UK and China; N = 1004) and two innovative food products. Our results show that, in the context of innovative food products, customer value is constructed as a trade-off between perceived values that individuals assign to the product and perceived costs that consumers experience. Specifically, perceived values have a positive and dominant effect on customer value in both markets. We further show that the central role of customer value on willingness to pay is not universal and may vary across international markets, with the positive effect of values on willingness to pay being mediated by customer value only in China. Finally, from types of costs purchase costs are found to subtract customer value and only in the UK, thus highlighting their role as being context-specific.

Original language	English
Article number	103293
Journal	Innovative Food Science and Emerging Technologies
Volume	84
ISSN	1466-8564
DOIs	https://doi.org/10.1016/j.ifset.2023.103293
Publication status	Published - Mar 2023

Keywords

Costs
Customer value
Innovative food products
Partial least squares
Values

Access to Document

10.1016/j.ifset.2023.103293Licence: CC BY

Perrea_2023_Customer_value_toward_innovative_foodFinal published version, 570 KBLicence: CC BY

Cite this

@article{bb2cbc9a16a042618d6651b7a3d05d15,

title = "Customer value toward innovative food products: Empirical evidence from two international markets",

abstract = "Food technologies often have an ambivalent effect on customer value perceptions toward innovative food products. While objective benefits may contribute positively to customer value perceptions, subjective negative evaluations may subtract value. In this paper we propose a model and provide empirical evidence on how customer value is constructed and its relationship with willingness to pay in the context of innovative food products. We test our model in a cross-sectional study across two international markets (the UK and China; N = 1004) and two innovative food products. Our results show that, in the context of innovative food products, customer value is constructed as a trade-off between perceived values that individuals assign to the product and perceived costs that consumers experience. Specifically, perceived values have a positive and dominant effect on customer value in both markets. We further show that the central role of customer value on willingness to pay is not universal and may vary across international markets, with the positive effect of values on willingness to pay being mediated by customer value only in China. Finally, from types of costs purchase costs are found to subtract customer value and only in the UK, thus highlighting their role as being context-specific.",

keywords = "Costs, Customer value, Innovative food products, Partial least squares, Values",

author = "Toula Perrea and Polymeros Chrysochou and Athanasios Krystallis",

note = "Publisher Copyright: {\textcopyright} 2023 The Author(s)",

year = "2023",

month = mar,

doi = "10.1016/j.ifset.2023.103293",

language = "English",

volume = "84",

journal = "Innovative Food Science and Emerging Technologies",

issn = "1466-8564",

publisher = "Elsevier B.V.",

}

Customer value toward innovative food products: Empirical evidence from two international markets. / Perrea, Toula; Chrysochou, Polymeros; Krystallis, Athanasios.
In: Innovative Food Science and Emerging Technologies, Vol. 84, 103293, 03.2023.

Research output: Contribution to journal/Conference contribution in journal/Contribution to newspaper › Journal article › Research › peer-review

TY - JOUR

T1 - Customer value toward innovative food products

T2 - Empirical evidence from two international markets

AU - Perrea, Toula

AU - Chrysochou, Polymeros

AU - Krystallis, Athanasios

PY - 2023/3

Y1 - 2023/3

N2 - Food technologies often have an ambivalent effect on customer value perceptions toward innovative food products. While objective benefits may contribute positively to customer value perceptions, subjective negative evaluations may subtract value. In this paper we propose a model and provide empirical evidence on how customer value is constructed and its relationship with willingness to pay in the context of innovative food products. We test our model in a cross-sectional study across two international markets (the UK and China; N = 1004) and two innovative food products. Our results show that, in the context of innovative food products, customer value is constructed as a trade-off between perceived values that individuals assign to the product and perceived costs that consumers experience. Specifically, perceived values have a positive and dominant effect on customer value in both markets. We further show that the central role of customer value on willingness to pay is not universal and may vary across international markets, with the positive effect of values on willingness to pay being mediated by customer value only in China. Finally, from types of costs purchase costs are found to subtract customer value and only in the UK, thus highlighting their role as being context-specific.

AB - Food technologies often have an ambivalent effect on customer value perceptions toward innovative food products. While objective benefits may contribute positively to customer value perceptions, subjective negative evaluations may subtract value. In this paper we propose a model and provide empirical evidence on how customer value is constructed and its relationship with willingness to pay in the context of innovative food products. We test our model in a cross-sectional study across two international markets (the UK and China; N = 1004) and two innovative food products. Our results show that, in the context of innovative food products, customer value is constructed as a trade-off between perceived values that individuals assign to the product and perceived costs that consumers experience. Specifically, perceived values have a positive and dominant effect on customer value in both markets. We further show that the central role of customer value on willingness to pay is not universal and may vary across international markets, with the positive effect of values on willingness to pay being mediated by customer value only in China. Finally, from types of costs purchase costs are found to subtract customer value and only in the UK, thus highlighting their role as being context-specific.

KW - Costs

KW - Customer value

KW - Innovative food products

KW - Partial least squares

KW - Values

UR - http://www.scopus.com/inward/record.url?scp=85147193331&partnerID=8YFLogxK

U2 - 10.1016/j.ifset.2023.103293

DO - 10.1016/j.ifset.2023.103293

M3 - Journal article

AN - SCOPUS:85147193331

SN - 1466-8564

VL - 84

JO - Innovative Food Science and Emerging Technologies

JF - Innovative Food Science and Emerging Technologies

M1 - 103293

ER -

Customer value toward innovative food products: Empirical evidence from two international markets

Abstract

Keywords

Access to Document

Other files and links

Fingerprint

Cite this