Knowledge sharing on willingness to pay higher prices of processed banana products in the Thai market.

Abstract

The purpose of this study is to find what knowledge can influence consumers to pay higher prices for processed banana products in the Thai market. There might be an opportunity for suppliers to have a higher margin if they know what factors can influence consumers to buy products at higher prices. Consumers will also be able to benefit by justifying the money they spend. In-depth personal interviews and observations were adopted as the data collection approach by asking farmers who both grow bananas and sell processed banana products in the Thai market and consumers who buy and consume processed banana products. The result of this research study found that knowledge sharing from farmers/processors to consumers is important. Knowledge from farmers/processors should be filtered and selected before sharing to consumers based on the 5 groups of consumer categories. In this research, knowledge from farmers/processors cannot fulfill all types of consumers. There are some consumer types that need a different kind of knowledge from different sources.