Price Premium Acceptance for Organic Food: A Behavioral Economics Analysis of Consumer Decision-Making in Vietnam's Emerging Market
Journal Title: Journal of Economics, Finance and Management Studies - Year 2025, Vol 8, Issue 02
Abstract
This study investigates the complex relationships between perceived value and price premium acceptance in organic food consumption, with particular focus on the mediating role of trust in organic certification and the moderating effect of cultural value orientation. Using a quantitative approach, data were collected from organic food consumers through a structured questionnaire, and structural equation modeling was employed to test the hypothesized relationships. The findings reveal that trust in organic certification partially mediates the relationship between perceived value and price premium acceptance, while maintaining a significant direct effect. Cultural value orientation significantly moderates the relationship between perceived value and trust in organic certification, with stronger effects observed in collectivistic cultural contexts. The results demonstrate that consumers with higher levels of collectivistic orientation show a more pronounced relationship between perceived value and trust in certification systems. This research contributes to the literature by providing a more comprehensive understanding of the mechanisms through which perceived value influences price premium acceptance in organic food markets, particularly highlighting the crucial role of certification trust and cultural values. The findings offer valuable insights for practitioners in developing culturally adapted marketing strategies and emphasize the importance of building trust in certification systems. For policymakers, the results underscore the significance of maintaining robust certification systems while considering cultural contexts in promoting sustainable consumption behavior.
Authors and Affiliations
Trong Nghia BUI
Keywords
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- EP ID EP759752
- DOI 10.47191/jefms/v8-i2-41
- Views 18
- Downloads 0
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