C0nsumer Willingness To Pay For Value Added Meat Product

ABSTRACTWillingness to pay is the largest sum of money an individual is agreeable to pay for a product or service. In other words, it is the maximum sum a consumer is willing to pay to acquire some good or service, or the maximum sum an individual is willing to pay to avoid a prospective loss (Wise Geek 2014).In general, willingness to pay (WTP) is a reflection of the maximum amount a consumer thinks a product or service is worth. It is considered when developing and asking price for products and service, although it is important to note that it is not the final arbiter of pricing. In addition…