Oh, Oh, that smell! Quite a few plants have a pleasing fragrance, but how often do we ask our customers to stop and smell the roses? This week, Bridget discusses marketing fragrant plants at a slight premium. Some of her research shows that plants with hedonic (sensory) attributes can garner a premium price.
While the word local goes unregulated (as to how far away something truly is local) many people are willing to pay a premium price for locally-produced goods. But have you ever thought about why they are willing to pay more? This week, Bridget and Trey Malone (Agriculture, Food, and Resource Economics at Michigan State) talk about the social nature of local goods. It turns out, there is a reason why social media marketing on Facebook (and how many friends a retail business has) may really pay off for local products.
Episode 42 transcript
Branding has been prevalent in many industries, but is only a few decades old in horticulture. Recent research showed that younger horticultural consumers had greater brand awareness and were more likely to buy branded products. In this podcast, Bridget will share some insight about branding herbs and vegetables for consumers of all ages.