Wongnaa, Camillus Abawiera Adams, Faizal Bannor, Richard Kwasi Awunyo-Vitor, Dadson Mahama, Isaac Osei, Bismark Afoakwa Owusu-Ansah, Yaw Ackon, Angelina
Year of Publication:
[Journal:] Journal of Global Entrepreneurship Research [ISSN:] 2251-7316 [Volume:] 9 [Year:] 2019 [Issue:] 4 [Pages:] 1-16
The study assessed consumers' perception and willingness to pay for tiger nut yoghurt developed by Sanful (Pak J Nutr 6:755-758, 2009) in Ghana. It used cross-sectional data collected from 315 yoghurt consumers from five (5) communities in the Kumasi metropolis. Descriptive statistics, 3-point Likert scale, perception index and the tobit regression model were the analytical tools employed. The results showed that while consumers considered nutritional benefits as the most important attribute, they considered appearance as the least. The overall mean perception index was 0.67, indicating that consumers had a positive perception for tiger nut yoghurt. Even though the price of 500 ml of 'normal' yoghurt was Gh¢2.50 (US$0.57), consumers were willing to pay Gh¢3.50 (US$0.79) for the same volume. Finally, the results revealed that, consumers' willingness to pay (WTP) for tiger nut yoghurt was influenced by age, sex, educational level, household size, monthly income and price of the product. The study concludes that Sanful's tiger nut yoghurt has bright market prospects in the Kumasi metropolis and similar urban settings. Entrepreneurs, the unemployed and investors are therefore encouraged to consider a business in tiger nut yoghurt production even though there is also the need for a profitability analysis of tiger nut yoghurt production. In addition, there is the need to increase awareness and education on the nutritional and health benefits of tiger nut since education has a positive influence on consumers' willingness to pay for the product.
Attributes Perception Willingness to pay Tiger nut yoghurt