Willingness to pay a price premium for certified wood products among consumers in Malaysia

Mohamed, Shukri and Abd. Ghani, Awang Noor (2010) Willingness to pay a price premium for certified wood products among consumers in Malaysia. Pertanika Journal of Tropical Agricultural Science, 33 (2). pp. 159-165. ISSN 1511-3701

Full text not available from this repository.

Official URL: http://www.pertanika.upm.edu.my/Pertanika%20ARCHIVES/JTAS/2010/JTAS%20Vol.%2033%20%282%29%20Aug.%202010%20.pdf

Abstract

Consumers are assumed to be willing to pay price premiums for certified wood products. In this study, Malaysian consumers’ willingness to pay a price premium for certified wood products and factors influencing their willingness to pay were investigated. The study made use of the data obtained from 994 systematically selected mall-intercepted respondents. A binomial logit analysis was applied to determine the factors influencing the respondents’ willingness to pay. About 74% of the respondents indicated that they would choose wood products made from certified timbers. However, only 57% stated that they were willing to pay a price premium for the products. The respondents’ willingness to pay was found to be influenced by their knowledge and perceived importance of forest certification, as well as the inclination to choose wood products made from certified timbers. There is also a positive correlation between the willingness to pay and the respondents’ education, income, and current ownership of the wooden furniture items. The opportunity for further research includes determining the amount of premium the consumers are willing to pay and identifying consumer segments where certified wood products can be successfully marketed.

Item Type:Article
Keyword:Willingness to pay; Price premium; Certified wood products; Consumers
Subject:Wood products
Subject:Consumer behavior
Faculty or Institute:Faculty of Forestry
Publisher:Universiti Putra Malaysia Press
ID Code:17646
Deposited By: Norhazura Hamzah
Deposited On:15 May 2012 07:15
Last Modified:15 May 2012 07:15

Repository Staff Only: item control page

Document Download Statistics

This item has been downloaded for since 15 May 2012 07:15.

View statistics for "Willingness to pay a price premium for certified wood products among consumers in Malaysia"


Universiti Putra Malaysia Institutional Repository

Universiti Putra Malaysia Institutional Repository is an on-line digital archive that serves as a central collection and storage of scientific information and research at the Universiti Putra Malaysia.

Currently, the collections deposited in the IR consists of Master and PhD theses, Master and PhD Project Report, Journal Articles, Journal Bulletins, Conference Papers, UPM News, Newspaper Cuttings, Patents and Inaugural Lectures.

As the policy of the university does not permit users to view thesis in full text, access is only given to the first 24 pages only.