Vol. 10, Special Issue 9 (2021)

Author(s):
Pragya Chandrakar, Sanjay Kumar Joshi and Akshita Vashishth

Abstract:
The purpose of this paper is to develop a marketing strategy for premium fresh foods based on consumer buying behavior and preferences. This study aims to find out how much premium consumers are willing to pay for premium fresh foods. Simple socio-demographic representation and some statistical analysis such as cluster analysis, choice-based experiment, and perceptual mapping were used to study the consumers’ preferences, perceptions, and attitudes towards premium fresh foods. These consumers are in a relatively advantageous position in terms of purchasing power and awareness of health and nutrition. The topic is relatively less researched in emerging markets especially where organized retail is still in its early stages. As the consumers are spending more towards healthy, organic, and natural food products and are willing to pay a premium price, it becomes an enticing opportunity for innovators and new startup companies to enter into this segment. In recent times due to the pandemic, consumer buying behavior has moved towards high nutritional value and healthy products. This is the opportunity for innovators and agripreneurs to think of premium fresh foods.