Increasing Demand and Willingness-to-Pay for Arizona-Grown Pecans

Increasing Demand and Willingness-to-Pay for Arizona-Grown Pecans Increasing Demand and Willingness-to-Pay for Arizona-Grown Pecans Arizona State University will facilitate increased demand for Arizonas pecan nuts by developing a demand model and determining key drivers of willingness to pay (WTP) for pecans. This will enable Arizona pecan growers to better understand consumers and to create target-oriented marketing strategies to more effectively communicate benefits of Arizona-grown pecans. Through an online consumer study comprising about 3,000 U.S. Americans, and employing choice experiments, estimates of consumer demand for Arizona-grown pecans will be determined. The data collected will be analyzed using univariate and multivariate statistical methods to provide insight into factors that affect preferences for this crop. In addition, customer characteristics will be elicited to enable an analysis of success factors for Arizona pecan growers. The surveyed consumers will also be educated about Arizona pecans. The model and related findings will be shared with Arizona pecan growers. Success will be measured in terms of insight, interest, and implementation. Arizona pecan growers face great competition making it necessary to understand demand factors. The goal of this project is to support marketing and communication strategies that specifically target customers of Arizona pecans. Employing econometric analysis to determine demand and willingness to pay will reveal the characteristics of consumers which will then enable pecan growers to better understand shoppers and create consumer-oriented marketing strategies to more effectively communicate benefits of Arizona pecans and subsequently increase consumer preferences for Arizona-grown pecans.