04/02/08 Consumers will pay

Are consumers really wiling to pay more for branded meats? If they are, just how much more? I'm Jeff Keane; I'll be right back with some answers. Will consumers pay more for branded meats? Midon Marketing of Chicago and Shugoll Research in Bethesda, Maryland conducted a study titled "Power of Brands: Assessing the role of Branding in Meat Selection and Purchase," to try to answer that question. This online survey of 600 beef, chicken and pork consumers in four U.S. cities revealed they were aware of branded meat products, but weren't able to name very many actual brands. Breaking that observation down by meat type, the survey found only 50 percent of consumers could name at least one pork brand, beef users were only 4 percent better, but 71 percent of chicken diners could name at least one chicken brand. I can understand the low percentages since branded meats are a relatively new idea and for so many years beef was just beef and pork was pork. The interesting results of the survey showed 84 percent of consumers would pay 5 percent more for their preferred brand of meat, 76 percent would pay 10 percent more and 55 percent would shell out 20 percent more money. Many voices tell meat producers that consumers won't pay for more knowledge of meat products such as County of Origin Labeling. I think this research says a large percentage will. I think that's the first brand that should go on meat products. I'm Jeff Keane.