Potential Market Segments Research Articles

Understanding the role of information and taste heterogeneity in consumer preferences for functional beef: The case of the omega-3 enriched burger

Beef demand has progressively decreased due to an increasing number of consumers who perceive beef as harmful to their health, among other causes. In contrast, functional foods are one of the fastest-growing markets. This study aims to analyse consumer preferences and estimates the willingness to pay for beef enriched with omega-3 fatty acids. We intend to identify and profile the potential market segments for functional beef and determine how the provision of information can affect consumer preferences. Data have been collected by applying a choice experiment on a sample of 757 Italian beef purchasers. The sample was randomly split into two information treatments plus a control group. Participants in the information treatments were given an explanation about the functional meat production system. Results showed that the average consumer has a preference for ω-3 enrichment and that information about the food's production process increases this preference. Therefore, the study reveals the existence of a potentially profitable market for functional beef.

The Impact of Legalization of Sports Gambling: How Motivation, Fandom, and Gender Influence Sport-Related Consumption

This study examined how the legalization of sports wagering, in association with several factors (i.e., gender, motivations, and fandom), has impacted gambling behavior, interests in sport, and sport-related consumption (e.g., media, ticket sales) using a sample of active gamblers above the age of 21 (N = 58). The findings showed that economic motivation significantly predicted gambling behavior, interests in sports, and sport-related consumption, while fandom did not. People who are motivated by money are more likely to wager on sport and consume sport. However, being a sport fan or not does not impact those variables. Based on the results of the current study, it could be suggested that, since sports wagering was recently legalized, sport organizations should move quickly to attract new and potential market segments (e.g., gamblers).

Emerging cyborg products: An ethical market approach for market segmentation

Cyborg products are already available on today's market. They are a potentially large market offering extraordinary opportunities and challenges for businesses. Becoming a cyborg involves many ethical aspects that can be explored from a consumer behavior perspective. However, while these ethical variables have been used in several market analyses, none has examined their potential use for market segmentation in disruptive markets such as the one for cyborg products. We use the Composite Multidimensional Ethics Scale (Composite MES) to explore ethical judgments regarding cyborg products in a sample of 1563 university students in seven countries. Our findings show that all ethical judgment dimensions contribute in the same way and with similar intensity to cyborg market segmentation. We identify three potential market segments. These segments exhibit different characteristics with regard not only to their willingness to become a cyborg but also to their technology acceptance analysis dimensions. We make recommendations for the ethical exploration of this emerging market.

Economic feasibility of gasoline production from lignocellulosic wastes in Hong Kong

In this study, the conceptual process flowsheet was developed and the economic feasibility of woody biomass conversion to biofuel as feedstock was analysed by considering several promising experimental processes for lignin depolymerization, such as hydrodeoxygenation and hydrogenolysis, along with lignocellulosic biomass fractionation processes. The engineering simulation process toward the commercial production of bio-gasoline from lignocellulosic biomass using SuperPro Designer® was modeled. The compatibility of the end products with the current gasoline specifications was evaluated and various blending options were investigated to meet the octane number and Reid vapor pressure requirement of the product. The economic potential of the simulated engineering process was then evaluated from an economic perspective. The operating costs and capital investment of three scenario using three different catalytic systems were estimated and discussed to assess of the potential of commercializing of woody biomass valorization process. The main potential market segments were identified, including the process by-products such as xylose and cellulose pulp. From the economic evaluation study, it was found that selling the biomass fractionation products alone does have a greater profit than valorization of lignin to produce bio-gasoline, with net present value of RMB 22,653,000 and RMB 177,000, respectively at the same return on investment if the plant is set up in Hong Kong. It was also found that catalysts play a pivotal role in determination of the profitability in the valorization process, not only because of the price of the catalyst, but also the product distributions obtained with various types of it. To obtain the same gross profit, the sale price of bio-gasoline has to be set higher with platinum catalysts than with ruthenium catalysts (nearly 10 folds). Thus, catalyst development and process improvement are crucial in the establishment of bio-based circular economy.

Millennia’s impulsive buying behavior: does positive emotion mediate?

Indonesian buying behavior, especially on generation Y or millennialism, tends to be impulsive, and the rapid development of the retail fashion business allows marketers to learn and formulate the strategy. As a group of people, millennialism is a potential market segment. This study tries to investigate the role of hedonic shopping motives, fashion involvement, and store atmosphere toward positive emotion and impulsive buying. The study also tests the mediating role of positive emotion. Judgmental sampling was employed to collect data from 220 respondents of millennialism in Surabaya, and the relationships were analyzed using path analysis. The study confirms that hedonic shopping motives have no significant effect on impulsive buying, whereas both fashion involvement and store atmosphere have a significant effect on impulsive buying. All hedonic shopping motives, fashion involvement, and store atmosphere have a significant effect on positive emotion. On the contrary, positive emotion has no significant effect on impulsive buying. It also does not mediate the effect of hedonic shopping motivation, fashion involvement, and store atmosphere towards impulsive buying. This study provides novel and useful insights into the complex impulsive buying by millennial by expanding the application of both fashion involvement and store atmosphere for fashion marketers.

Identifying latent mode-use propensity segments in an all-AV era

This study offers an early glimpse of how individuals perceive the advantages/disadvantages of AVs, their mode-use intentions, and potential market segments with respect to mode use, should AVs eventually become the only way to travel by car. To do so, we implemented a statewide survey of Georgia residents (N = 2890) and using that data, we applied factor analyses to two blocks of AV-related statements. The first block measured 12 perceptions of AVs, and yielded two psychological constructs: AV pros (advantages/ benefits) and AV overuse cons (negative outcomes specifically associated with the excessive use of AVs). The second block of statements measured respondents’ inclinations between AV and non-AV options for 12 hypothetical transportation “needs”, and factor analysis identified four mode-use propensity constructs: AV(-inclined) over walk/bike, AV over flight, zero-occupant AV over occupied AV, and AV over transit. The main goal of the paper was to segment the sample on the basis of these four mode-use propensities, to identify clusters with similar propensity profiles or response vectors. We applied latent class cluster analysis to do so, and identified seven potential market segments: some preferring AV options in general, others preferring non-AV options or having unique propensity patterns based on certain contexts (e.g. long distance travel and vehicle occupancy). In the model, socio-demographics, geography, attitudes, and perceptions of AVs help characterize those market segments, and this provides a basis for deeper interpretation and consideration of policy implications.

Characteristics of Adopters of an Online Social Networking Physical Activity Mobile Phone App: Cluster Analysis.

BackgroundTo date, many online health behavior programs developed by researchers have not been translated at scale. To inform translational efforts, health researchers must work with marketing experts to design cost-effective marketing campaigns. It is important to understand the characteristics of end users of a given health promotion program and identify key market segments.ObjectiveThis study aimed to describe the characteristics of the adopters of Active Team, a gamified online social networking physical activity app, and identify potential market segments to inform future research translation efforts.MethodsParticipants (N=545) were Australian adults aged 18 to 65 years who responded to general advertisements to join a randomized controlled trial (RCT) evaluating the Active Team app. At baseline they provided demographic (age, sex, education, marital status, body mass index, location of residence, and country of birth), behavioral (sleep, assessed by the Pittsburgh Quality Sleep Index) and physical activity (assessed by the Active Australia Survey), psychographic information (health and well-being, assessed by the PERMA [Positive Emotion, Engagement, Relationships, Meaning, Achievement] Profile; depression, anxiety and stress, assessed by the Depression, Anxiety, and Stress Scale [DASS-21]; and quality of life, assessed by the 12-Item Short Form Health Survey [SF-12]). Descriptive analyses and a k-medoids cluster analysis were performed using the software R 3.3.0 (The R Foundation) to identify key characteristics of the sample.ResultsCluster analyses revealed four clusters: (1) younger inactive women with poor well-being (218/545), characterized by a higher score on the DASS-21, low mental component summary score on the SF-12, and relatively young age; (2) older, active women (153/545), characterized by a lower score on DASS-21, a higher overall score on the SF-12, and relatively older age; (3) young, active but stressed men (58/545) with a higher score on DASS-21 and higher activity levels; and (4) older, low active and obese men (30/545), characterized by a high body mass index and lower activity levels.ConclusionsUnderstanding the characteristics of population segments attracted to a health promotion program will guide the development of cost-effective research translation campaigns.Trial RegistrationAustralian New Zealand Clinical Trial Registry ACTRN12617000113358; https://www.anzctr.org .au/Trial/Registration/TrialReview.aspx?id=371463International Registered Report Identifier (IRRID)RR2-10.1186/s12889-017-4882-7

Influencing Factors That Determine the Usage of the Crowd-Shipping Services

The objective of this study is to understand how senders choose shipping services for different products, given the availability of both emerging crowd-shipping ( CS) and traditional carriers in a logistics market. Using data collected from a United States (U.S.) survey, Random Utility Maximization (RUM) and Random Regret Minimization (RRM) models have been employed to reveal factors that influence the diversity of decisions made by senders. Shipping costs, along with additional real-time services such as courier reputations, tracking info, e-notifications, and customized delivery time and location, have been found to have remarkable impacts on senders’ choices. Interestingly, potential senders were willing to pay more to ship grocery items such as food, beverages, and medicines by CS services. Moreover, the real-time services have low elasticities, meaning that only a slight change in those services will lead to a change in sender behavior. Finally, data-science techniques were used to assess the performance of the RUM and RRM models and found to have similar accuracies. The findings from this research will help logistics firms address potential market segments, prepare service configurations to fulfill senders’ expectations, and develop effective business operations strategies.

Simple economic frameworks to evaluate public investments in sporting events in regional Australia

Increasingly communities and government are using sporting, recreation and festival events as drivers of economic growth in regional areas, particularly where these can be used to align with tourism activities. However a key challenge is to evaluate and prioritise investments in facilities and services for these types of events. It is difficult for local government and communities to identify exactly which opportunities to pursue, because of issues such as the large costs involved in providing infrastructure, maintaining facilities and hosting events, competition from other centres, the variety of sport and recreation possibilities, and the variation in potential market segments. In this paper we develop a framework to evaluate proposals as well as provide a simple assessment tool to help prioritise between options. A case study application to a regional city in Queensland, Australia, demonstrates that the majority of economic benefits from a sporting event can be estimated as the number of extra visitor nights generated by $45 per visitor night. For this case study, these benefits should be at least equal or greater than any investment of public funds.

Use of Ride-Hailing Services among Older Adults in the United States

This paper presents an analysis of data from the 2017 National Household Travel Survey to examine the factors influencing the adoption and the frequency of use of on-demand ride-hailing services such as Uber and Lyft among older adults. Using a zero-inflated negative binomial model (ZINB), the results indicate that the determinants of adoption of on-demand ride-hailing services (users versus non-users) are different from the determinants of the frequency of use of these services among older adult users. Seniors that are younger, living alone, urban dwelling, more highly educated, more affluent, or male with a medical condition that results in asking others for rides, are more likely to be adopters of ride-hailing services. However, seniors who are middle elderly, less educated, or are carless older adults, are more likely to be frequent users of on-demand ride-hailing services as long as they adopt these services. In addition, smartphone possession plays an important role in the adoption behavior of on-demand ride-hailing services among older adults. Results of bivariate analysis showed that older adult ride-hailing users make more transit trips than their non-user counterparts, suggesting that ride-hailing services have the potential to serve as a complementary form of public transportation for older adults. The findings of this research will help ride-hailing operators in identifying potential market segments of their services and in developing campaign strategies for potential adopters.

New Products Development: a Marketing Study of a Popsicle Produced with Whey

This study aimed at identifying the sensory acceptance and preference of customers for a chocolate popsicle produced with whey. Specifically, it sought to i) identify the acceptance and purchase intent of consumers after tasting the popsicle under four different concepts; ii) to select the best concepts; and iii) to identify potential market segments. As for the methodology, the study was a quantitative and qualitative research using techniques of sensory analysis, semi-structured questionnaires and in-depth interviews. Quantitative data were analyzed using descriptive and multivariate statistics. For qualitative data, content analysis was used. The results showed that the concept “chocolate popsicle made with whey” stood out, followed by the concept “chocolate popsicle made with essential amino acids”. They both had good sensory acceptance and purchase intent, but the consumers preferred the concept “whey”. As for market segmentation, two groups were extracted: the first and largest group was named “healthy and conscious consumers” and the second “hedonic consumers”. It was identified that the best segment for the product is the group 1, since the term “whey” is already known and valued by this public. Thus, conveying the product as popsicle with “whey” might be an appropriate strategy for this segment

New Market Opportunities and Consumer Heterogeneity in the U.S. Organic Food Market

This paper investigates what factors and characteristics of organic consumers affect annual organic food expenditure by using Nielsen’s consumer panel dataset from 2010 to 2014. To be specific, this paper explores new marketing opportunities by investigating organic consumer heterogeneity in different household income levels by utilizing the multilevel model. Findings in this study will contribute to the previous and existing literature in three-folds. First, we find that the organic consumers are more heterogeneous in the high-level of income groups (approximately above $60,000), as well as the low-income households between $35,000 and $45,000. This finding demonstrates that the income levels above $60,000 and around $40,000 have potential market segmentation. Second, we find that that annual organic expenditure is positively associated with consumers who consecutively repurchase organic food products compared to irregular organic consumers, supporting a different level of satisfaction. Third, we find that USDA organic labeling has a positive effect on annual organic expenditure compared to the organic labeling certified by private companies, implying the importance of credibility for the organic labeling.

Techno-Economic Assessment, Scalability, and Applications of Aerosol Lignin Micro- and Nanoparticles.

Lignin micro- and nanoparticles (LMNPs) synthesized from side-streams of pulp and paper and biorefinery operations have been proposed for the generation of new, high-value materials. As sustainable alternatives to particles of synthetic or mineral origins, LMNPs viability depends on scale-up, manufacturing cost, and applications. By using experimental data as primary source of information, along with industrial know-how, we analyze dry and spherical LMNPs obtained by our recently reported aerosol/atomization method. First, a preliminary evaluation toward the commercial production of LMNPs from industrial lignin precursors is presented. Following, we introduce potential LMNPs applications from a financial perspective. Mass and energy balances, operating costs, and capital investment are estimated and discussed in view of LMNPs scalability prospects. The main potential market segments identified (from a financial perspective) include composite nanofillers, solid foams, emulsion stabilizers, chelating agents, and UV protection. Our technical, financial, and market assessment represent the basis for R&D planning and efforts to lower the risk related to expected industrialization efforts. Manufacturing costs were estimated between 870 and 1170 USD/t; also, minimum selling prices varied from 1240 and 1560 USD/t, depending on raw materials used. Sensitivity analysis indicated that manufacturing cost can be as low as 600 USD/t, depending on the process conditions considered. Finally, based on the financial assessment, potential applications were identified.

Innovation and Commercialization Strategies for Three-Dimensional- Bioprinting Technology: a Lean Business Model Perspective

We examine and analyze the elements important for developing a commercialization strategy for an emerging technology of great relevance to biopharma: three-dimensional bio-printing (3DBP). We begin with a technology overview, identification of multiple, potential end-user market segments, then examine the key forces driving the competitive landscape of the emerging industry. The ability to print engineered 3D tissues advances innovations for human health and 3DBP is a transformative and disruptive technological breakthrough with high commercial potential for both short-term and long-term market applications. The near-term research markets include drug discovery research and development and the long-term markets focused on printing of organs and organoids for regenerative medicine. We include a mini-case study on the emergence of one potential innovation, the FRE SH printing technology being developed at Carnegie Mellon University. The case study includes extensive market research made possible by published data, and our customer surveys. The commercialization pathway to innovation is framed in terms of combining two popular innovation frameworks: The Disruptive Innovation and the Blue Ocean strategic frameworks for market entry, growth, and expansion spanning from early adopters to mainstream market segments. We also advocate open innovation as an approach to building the “lean” business model and collaborative ecosystems through strategic alliances with noncompeting firms having overlapping interests in 3DBP. This collaboration in parallel enables faster and more capital efficient validation of the process: product development, market development, validation of product/market fit, and market /customer development across the product life cycle spanning short, medium, and long-term visions for the technology. A platform strategy is framed to maximize the power of the technology and development of a sustained competitive advantage through complementary products, services, and partners in the emerging ecosystem.

PERCEIVED QUALITY OF RURAL TOURISM ACCOMMODATION SERVICES BY PROSPECTIVE CUSTOMERS

Rural tourism and corresponding activities generate new jobs, providing employment for people in rural areas, create a cooperation mechanism between different rural entrepreneurs, attract tourists, and thus contribute to both well-being of local population and the regional development in general. Rural tourism is attractive from an economic perspective, as it provides the opportunity to boost and diversify rural economies in remote areas. The paper is a part of the RTA scientific grant "Tourism Products Evaluation of the Rezekne Municipality (Quality Audit)". The aim of the research is to study rural tourism accommodation services in Rezekne municipality and to carry out their evaluation based on experts’ (potential customers’) perception of quality. The methods applied in the research: logical and constructive, synthesis and analysis, an empirical survey. However, the rural tourism accommodation establishments in Rezekne municipality in general are characterized by the keywords "responsiveness" and "hospitality" as well as by the well-ordered environment around the houses. The rural housings have to evaluate the current and future demand and precisely define the potential market segments to create an offer in accordance with it.

Consumer Preferences for Fresh Tomatoes in Benin using a Conjoint Analysis

Constraints related to the technical and socioeconomic aspects of adopting tomato varieties are well documented. However, preferences relating to the demand for this fruit are rarely studied. In fact, demand for the different varieties of tomatoes might be related to consumers’ preferences for the extrinsic (color, size) and intrinsic (taste, nutritive value, water content) characteristics specific to each variety. It is therefore indispensable to determine the characteristics of tomatoes preferred by consumers. We examine consumers’ preferences for tomato attributes among a sample of 600 consumers in four representative markets in the main cities in southern Benin. The study also identifies potential segments of consumers and the market shares of each profile for each segment. The study identifies four potential tomato market segments, two of which have a strong preference for local tomatoes, namely, those that can be conserved for long periods and those with a firm consistency.

Potential Market Willingness to Pay Through Edutourism Plan at CV. Damarayu Malang District

Edutourism is a necessity for kindergarten school, and enteprise can develop edutourism for kindergarten school as their potential market. This fact is crucial to observe to encounter potential market with enteprise that can supply their needs and both can get profit from the edutourism. By that background, this research are going to find valuation of the edutourism plan by potential market willingness to pay (WTP), to know factors that influence potential market WTP and to know potential market segmentation that declare willing to pay the edutourism. This research uses quantitative approach, analyzed by contingent valuation method and logistic regression analysis. The potential market in this research are kindergarten school in Pakisaji sub-district that have outingclass program. The finding revealed that economic value of the edutourism is more than the price target. Factors that influence potential market WTP are teachers education background, school fee per month, and ability to pay. Segmentation of the edutourism plan are kindergarten school with standard teacher’s education background in bachelor degree, categorized in low price school fee and already have ability to pay the edutourism.

Production phases and market for timber gridshell structures: A state-of-the-art review

Timber gridshell is a structure with a doubly curved shape that is made of grid timber laths. Gridshell structure can be a solution of interest in modern free-form structures that are environmentally sustainable. However, there is a lack of academic research focusing on the potential markets and the production stages based on this construction technology. The aim of this literature review is to investigate the gridshell structure to identify its global production process, as well as the partners involved in the architectural examples studied. A review of both peer-reviewed scientific articles and grey literature resources (e.g., magazines, web pages, etc.) was conducted to gather information about timber gridshells. The design examples found were categorized as small, medium, and large gridshells. The categorization is based on the size and level of complexity of the design examples. Production phases and partners involved in the design and construction of these structures were identified for each category. Furthermore, the motivations and barriers to using gridshell designs in construction, and the potential market segments were determined.

Production Phases and Market for Timber Gridshell Structures: A State-of-the-Art Review

Timber gridshell is a structure with a doubly curved shape that is made of grid timber laths. Gridshell structure can be a solution of interest in modern free-form structures that are environmentally sustainable. However, there is a lack of academic research focusing on the potential markets and the production stages based on this construction technology. The aim of this literature review is to investigate the gridshell structure to identify its global production process, as well as the partners involved in the architectural examples studied. A review of both peer-reviewed scientific articles and grey literature resources (e.g., magazines, web pages, etc.) was conducted to gather information about timber gridshells. The design examples found were categorized as small, medium, and large gridshells. The categorization is based on the size and level of complexity of the design examples. Production phases and partners involved in the design and construction of these structures were identified for each category. Furthermore, the motivations and barriers to using gridshell designs in construction, and the potential market segments were determined.

If you brew it, who will come? Market segments in the U.S. beer market

AbstractThis article uses data collected from a large number of representative United States beer drinkers to identify potential market segments through consumers' taste perceptions of various beer brands. We use several well‐established marketing research methods to show that distinctive segments of the beer market underlie aggregate demand for craft beer. Using exploratory factor analysis, we find that consumers tend to group beers by two underlying factors of taste. We then use cluster analysis to provide a description of how market segments are influenced by brand familiarity. Overall, this article highlights consumer heterogeneity in the modern U.S. beer market and provides an example of how one might use primary data to analyze segmentation in a growing but highly competitive market. [EconLit citations: : C83, M3, Q1]