A study on the consumers’ willingness to pay (WTP) premium for food brands

The objective of the present study was to understand consumers’ willingness to pay a premium price for the food brands. Pre-tested interview schedule was used to collect information from the selected 60 sample consumers and the data collected were analysed using percentage analysis. It was found that majority of the respondents (61.66%) were males; 35.00 and 31.66 per cent of the sample respondents were between the age of 31–40 and 21–30 years; majority (78.33%) were undergraduates; 60.00 per cent were salaried; 46.67 per cent had the monthly income of Rs 30, 001-45, 000. Most (50.00 to 85.00%) of the respondents had been using the selected brands [India Gate (rice), Aashirvaad (flour) and Fortune (oil)] for more than 2 years. Majority of the customers (43.33%) were willing to pay 6–10 per cent more for the brand India Gate as compared to 36.67 and 35.00 per cent respondents for Aashirvaad and Fortune. Out of the total respondents 16.67, 16.66 and 21.66 per cent were not willing to pay more for India Gate, Aashirvaad and Fortune respectively.